Cob Re: affordable land

[Linda Lawrence]

Paul,

I am very happy to read of your connections with a title company knowledgeable in
tax sale land.  We have bought many parcels and made some homesteaders very happy
with the low prices we sold them for.  The very reason we can do that is the great
deals you can get at the sales.

As you say, you must know what you are doing, and be very thorough and cautious
about your research before buying.  There isn't a lot of time, as you know, only
about 30 days from the sale notice to auction, but the prices certainly make it
worthwhile.

We have bought land at the sales as cheap as $10 for 1/2 acre (Deming), and the
first piece we sold,  1 1/4 acres just west of Albuquerque, after owning it for 11
months (1991), we multiplied our money by 12.  I don't have to tell you that we were
thrilled, and the new owners were, too, because they only paid about half of the
going price in the area.

We have always sold on quit claim deed.  That is why I am very interested in
learning more about Warren and Stewart Title's way of handling title insurance.
Thanks for your info.  I can't wait to learn more.

Linda
Laguna, NM

"SANCO Enterprises " wrote:

> If you recall, last year around August I mentioned the Tax Sales on the list and
> there was a 70/30 negative response about all that could go wrong buying tax
> sale property.
>
> In Nov I purchased 39 parcels in Otero County and 3 parcels in Rio Rancho.
>
> I already have permits in hand for the building on one of the 1/2 acre parcels
> purchased for $2800.  Neighbors are willing to sell adjacent lots for $25K.
> Total cost to get titles cleared has been $10 for a notary fee and $350 for a
> title policy to the lender for the construction loan.
>
> One major tip here is to find a title company that has someone on staff who
> understands Tax Sale Liens and is willing to work with you.  I had used Warren
> Prue at Stewart Title in Albuq. on other transactions and he has dabbled in this
> sort of thing as well.  He will guide and coach you through the process.  He
> also has sources that can save you the BIG BUCKS if a problem arises.
>
> Do your home work and check everything you can.  If utilities are anywhere near
> by the price naturally goes up, but still far less than buying retail.  The lots
> coming up in Rio Rancho at this sale are more remote from utilities and major
> highways and should go very cheap.
>
> Paul Salas
> SANCO Enterprises, LLC
> Albuq., NM