Expert: Dick Dennis - 6/20/2008

Question
Dear Dick,

I appreciate you answer my question about legal description. By my understand, legal description are telling the buyer bascially the location of the property, if i can see it in the map, i don't really need to understand it , correct?
Also, in our area, there is going to have a foreclosure auction for properties that the owner failed to pay property tax for 3 years in a row. I like some of the land, and would like to know what's i should watch out when i am trying to buy a piece of land. My purpose is to build a house on the land which i am going to buy.

Thank you in advance!

Answer
No, you really do not need the "legal description," Shu Yan, when you have an accurate map of the property if you intend to buy it. However, the legal description is required and is inscribed on the legal deed. Most people do not know nor do they care if the legal description is written on the deed. But that is the only way to prove that the property, as it is described, belongs to the owner.

As for the tax auctions, I strongly suggest you learn all you can about what happens when you buy property that has been lost because the owner did not pay the taxes. There is so much you must know, especially in your state. Each state in this country is different. The way they treat a tax sale in Florida is totally different from Iowa, Texas or California, for example. So, if you do not learn the process, you may lose a lot of money. Buy a book on "Buying property at tax auctions" or rent one at the library.

Some states allow the former owner to "buy back" the property by paying you what you paid for it, plus any interest and costs. They call that "redemption." Some states have it, some do not. Therefore, you may not be able to build anything on it for a long time. You also have to realize that vacant property is vacant for a long time for a reason. Find that reason out. I do wish you well.

Dick Dennis