3 ms·
Why wouldn't the owner sell? Keep in mind that land that is owned outright is almost exclusively very low value land.
by Schiendelman 2y ago
Why wouldn't the owner sell?
Keep in mind that land that is owned outright is almost exclusively very low value land.
- yimby2001 2y agoBecause they owe the bank $1 million for property that suddenly worked much less than that so they’re gonna default on their debt and then their bank is going to sell it and attempt to recover the loss
- Schiendelman 2y agoGenerally property tax is a percentage of the value of land. So your scenario doesn't happen unless the land is incredibly valuable.