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What I Learned About Tax Auctions in Wichita Kansas

By
Real Estate Agent with Realty World Alliance

I attend the tax sales in Wichita Kansas. This is what I have learned about tax auctions in Wichita Kansas.

Pay Attention at tax auctions and know what your buying. Seems obvious, but you'd be surprised. I've seen lots sold in Wichita Kansas just because they were $50....with $8000 in payable specials attached to someone not paying attention.  Oops.  Another guy bought some real estate that was under water.

Those are cases of extreme "I just gotta buy something,  it's cheap, it has to be a deal!" Forget about taxes, specials and worthless land. A lot of that goes on at tax auctions in Wichita with less experinced bidders.

tax auction Wichita KansasWe like to get the list and go scout Wichita for a couple weeks in advance. Get inside the home if I can, check out conditions, run numbers and set a limit. If the bid goes over, so be it. It's important to have rules and to stick by them.

Those in charge of Wichita tax auctions tell you right up front that the auction is buyer beware! that means it's completely up to you to know what your getting into. That means buying as is, no exceptions and no returns. You bought it you own it. Tax auctions Wichita Kansas

You may buy a property at a tax auction in Wichita Kansas that had a house on it this morning and the City had it slated to be torn down this afternoon. When you go to see your house it could very well not be there anymore. No money back guarantees here at Wichita tax auctions.

Careful of lots in subdivisions being sold off from bankrupt builders around Wichita. They look tempting at that price, but unless you have a ready plan in place you could be spending a lot of money on taxes and specials waiting for the economy to come back. What look like good deals at tax auctions aren't always so.

They also advise not to write a hot check to the Sheriff when purchasing property at tax auctions in Wichita. Seems every time someone does.

Questions about tax auctions in Wichita Kansas? Contact me!

Posted by

Brenda Archambault
The Real Estate Investment Institute - Houston, TX

You provided good advice for any auction, not just realestate.

May 13, 2012 01:16 AM