Subject: Re: tax sale redux
From: Michael E. Rutkowski \(First Properties\) (michaelrut@firstpropertiesllc.com)
Date: Wed Feb 12 2003 - 20:58:28 CST
Jim,
I honestly feel like I've answered the same questions over and over again, and admit perhaps I'm not "getting" the angle from which you're coming. (we all have our days!)
Your questions below:
>
> Michael, in your experience, has the sale of condo property at an auction
> resulted in problems/risks for owners?
In my experience, no...but I have only seen this once.
If it has caused problems,
> then the appropriate response is to prepare. If not, ok, it's a silly
> question. But, you can bet when the question is blown off by
> "it doesn't matter who owns it" that I, for one, become frustrated.
> If you haven't thought through the question, say so. If you have
> and have never heard of problems, then say so. But don't say
> "it doesn't matter.
Either you're taking my "it doesn't matter" out of context, or I took your question out of context...see below.
Anytime a new owner takes over a piece of property, there could be problems. I don't see how the fact that the propery was acquired through a tax sale makes a difference. I think we've all learned that just because someone pays a few hundred thousand dollars for a condo, doesn't guarantee that he/she will be a good neighbor. You asked how this would affect the association and referenced collection of assessments. I will again say "it doesn't matter," that person will have to pay assessments.
Going back to my very first response, I stated that I don't have much experience in this area. There are some people that make a full-time job of tax sales, and I am not one of them. This is not a topic covered under real estate brokerage/management licensing/education. I have only seen one person lose her condo for non payment of back taxes. In that instance, it was a benefit to the association becuase she also hadn't paid any assessments--The association was able to collect over $6,000 in back assessments.
I did *NOT* blow off your question. In fact, I feel rather to the contrary. If you still feel like I haven't answered your question, please call me, because one of us (very likely me) is missing something here in the communication.
> Thanks for listening,.
>
> jt / 501
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