Saint Louis County owned property is usually cheaper than normal in most of the area.
The county has a responsibility to other residents to keep things in order so it acquires real estate occasionally.
This is mainly due to unpaid taxes and a few “don’t wanters” that make up the inventory for the county.
Saint Louis County Owned Property Inventory Taxes
Residents and non residents of Saint Louis County, MO from time to time may not be able to make payments on their property taxes.
When this happens the county will record the non payment as part of the public real estate tax record.
Also every August the county gives investors an opportunity to invest in their tax deed sale which happens the first Monday of the final week.
This can be the equivalent to Christmas for many investors especially if they get a deal of a lifetime.
Real estate investors can earn 18% annually for Saint Louis County owned property tax lien certificates.
It’s a public auction bidding process where the county collects delinquent taxes from the highest bidder.
The State of Missouri does three offerings for property where the redemption period is 1 year for the first and second offering.
The BEST offering is the third where the redemption period is only 90 days for which the process of obtaining the property can begin.
How ‘Don’t Wanters’ Become Saint Louis County Owned Property
Occasionally the county acquires property from ‘don’t wanters’ or homeowners who the county can’t locate.
Many years of unpaid taxes and citations for thing like high grass or other physical distress of the property occur.
Abandonment of property happens and the county will act accordingly within the parameters of real property laws from the state of Missouri.