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Jan 23rd, 2013
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 I think I made the deal of a lifetime on some lake property.
#2320400
05/31/08 11:21 AM
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Joined: Jun 2007
Posts: 1,870
Bit Man
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2007
Posts: 1,870 |
I bought a 50x100 foot lot with a trailer home on it in Thunderbird Bay on Lake Brownwood for what the guy owed in back dues for the community. He owed 5 years worth at 100 bucks a year, so do the math on that one. I bought it sight unseen as I dont care if the trailer is junky. But they just went down and mowed it and were gonna move the trailer to their deer camp so it must be decent enough to sleep in. I dont care if I have to gut it and put cots in it for what I paid Im excited and it will hold me over until I can get a nicer place on the waterfronts. Im now taking any and all info on Brownwood fishing. Bass, cats, crappie, gar heck anything  Thanks DannyG
Geaux Tigers!
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Bit Man]
#2320567
05/31/08 01:23 PM
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Joined: Sep 2004
Posts: 3,386
HENDO
TFF Team Angler
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TFF Team Angler
Joined: Sep 2004
Posts: 3,386 |
nice purchase! I'm not certain, but I believe on tax sales like that the original owner has 2 or 3 years to come back and pay the tax and can reclaim the property. I believe he would have to pay you interest though plus additional money for any improvements you have made to the property. I'm sure they made you aware of those things when you bought it though right?
FISH ON!!
<'///><
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Re: I think I made the deal of a lifetime on some lake property.
[Re: HENDO]
#2320594
05/31/08 01:41 PM
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Joined: Sep 2005
Posts: 26,981
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 26,981 |
Bit, did you buy it by paying the past due taxes or the past due HOA dues? If it's the HOA dues, you'd best do a title search for tax liens, past due property taxes, mechanic liens and other liens on the property.
If he had a bank loan on it, the bank can redeem (repurchase) it from you for what you paid plus interest, as can the previous owner. They have up to 2 years to redeem the property - 'redeem' meaning that you have to let them repurchase it for the amount specified by law.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
190 Civic Circle, Suite 260, Lewisville, TX 75067
972-746-0758 mobile
zac@artimlegal.com
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Uncle Zeek]
#2322401
06/01/08 10:43 AM
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Joined: Jun 2007
Posts: 1,870
Bit Man
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2007
Posts: 1,870 |
Thanks for the heads up guys, didnt think about this!!! Ill check into it.
Danny
Geaux Tigers!
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Bit Man]
#2322844
06/01/08 02:50 PM
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Joined: Feb 2008
Posts: 382
KrappyJig
Angler
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Angler
Joined: Feb 2008
Posts: 382 |
WOW I hope your end comes out good without checking first you may just be another in the long line with your hand held out.....good luck!!!!!
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Re: I think I made the deal of a lifetime on some lake property.
[Re: KrappyJig]
#2322920
06/01/08 03:38 PM
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Joined: Sep 2004
Posts: 3,386
HENDO
TFF Team Angler
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TFF Team Angler
Joined: Sep 2004
Posts: 3,386 |
Danny, the tax sales I've heard about have turned out ok, but most of them were researched to make sure there were no liens on the property. I have only "heard" of the horror stories of the original owners coming back to reclaim the property which is within their rights to do so. Hope it works out ok for you.
FISH ON!!
<'///><
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Bit Man]
#2323018
06/01/08 04:37 PM
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Joined: Dec 2006
Posts: 1,635
FroggerZack
Extreme Angler
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Extreme Angler
Joined: Dec 2006
Posts: 1,635 |
I bought a 50x100 foot lot with a trailer home on it in Thunderbird Bay on Lake Brownwood for what the guy owed in back dues for the community. He owed 5 years worth at 100 bucks a year, so do the math on that one. I bought it sight unseen as I dont care if the trailer is junky. But they just went down and mowed it and were gonna move the trailer to their deer camp so it must be decent enough to sleep in. I dont care if I have to gut it and put cots in it for what I paid Im excited and it will hold me over until I can get a nicer place on the waterfronts. Im now taking any and all info on Brownwood fishing. Bass, cats, crappie, gar heck anything Thanks DannyG I hope you really got a nice place but....I would really have reservations about buying lake property sight unseen. I don't know anything about Thunderbird Bay or Lake Brownwood but over here at some of the lakes in East Texas there are lake communities that have HOA's or POA's that are very rundown with a lot of drugs and crime in them even with these restrictions. Most of them don't even have enough money to maintain the streets properly.
PB Wht. Crappie 2.48 lbs 02-12-2011
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Re: I think I made the deal of a lifetime on some lake property.
[Re: FroggerZack]
#2323134
06/01/08 05:27 PM
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Joined: Jun 2007
Posts: 1,870
Bit Man
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2007
Posts: 1,870 |
Im pretty familiar with Tbird Bay and Brownwood in general and its a decent area. As far as owning a lake house this is new to me. For what I gave for it I can afford for it to be a bum deal, its was worth the chance Ill let you guys know what comes about with it. Danny
Geaux Tigers!
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Bit Man]
#2323284
06/01/08 06:31 PM
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Joined: Jul 2004
Posts: 12,156
LoneStarCarper
TFF Guru
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TFF Guru
Joined: Jul 2004
Posts: 12,156 |
how did you find out about it!
State Certified Piscatologist 
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Re: I think I made the deal of a lifetime on some lake property.
[Re: LoneStarCarper]
#2323658
06/01/08 09:32 PM
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Joined: Dec 2006
Posts: 1,635
FroggerZack
Extreme Angler
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Extreme Angler
Joined: Dec 2006
Posts: 1,635 |
Yep the price was right on the deal. Let us know how it works out.
PB Wht. Crappie 2.48 lbs 02-12-2011
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Re: I think I made the deal of a lifetime on some lake property.
[Re: FroggerZack]
#2324061
06/02/08 12:24 AM
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Joined: Jun 2007
Posts: 1,870
Bit Man
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2007
Posts: 1,870 |
the guy selling works with my father in law
Geaux Tigers!
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Bit Man]
#2324626
06/02/08 10:39 AM
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Joined: Jan 2008
Posts: 1,542
BigDave1
Extreme Angler
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Extreme Angler
Joined: Jan 2008
Posts: 1,542 |
Redemption period for property tax sale in Texas for non homestead property is 6 months. 2 years for a homestead.
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Re: I think I made the deal of a lifetime on some lake property.
[Re: BigDave1]
#2326124
06/02/08 05:55 PM
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Joined: Oct 2007
Posts: 550
Charles B.
Pro Angler
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Pro Angler
Joined: Oct 2007
Posts: 550 |
I fish on Lake Brownwood every weekend. If you ever need any help or info on the lake I will help you out any way I can. - Charles
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Re: I think I made the deal of a lifetime on some lake property.
[Re: Charles B.]
#2328107
06/03/08 09:40 AM
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Joined: Jun 2007
Posts: 1,870
Bit Man
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2007
Posts: 1,870 |
Thanks so much Charles, Ill take you up on that!
Geaux Tigers!
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