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Posted on: May 19, 2017

Trust Properties Available for Purchase

FOR SALE!
There are properties in Plainview for sale! The City of Plainview in conjunction with the Texas Communities Group, LLC will begin placing FOR SALE signs on twenty-three (23) available Trust Property within the City of Plainview in the coming days.  

WHAT ARE TRUST PROPERTIES?
Trust properties are lots and tracts of land which have been foreclosed upon to collect a property tax lien due the local governmental entities, the City of Plainview, Hale County, Plainview ISD, High Plains Water District. These properties were put up for auction and went unsold at the tax sale. The properties are then “struck-off” to the entities.  

The placement of the signs on available property will identify the properties available for purchase. There will also be catalogs disbursed within the community.  You may also find a link to the properties and place a bid if you so choose, by visiting the city’s website at www.plainviewtx.org/trustproperties.    

WHO CAN BID?
Anyone over 18 years old can submit a bid for a property. However, a successful bidder CANNOT owe delinquent taxes on other property in the county, owe an unpaid fine or fee to the city and/or county, and/or own other property in the city/county that is subject to existing penalties for codes enforcement.  

HOW DO I BID?

You may place a bid online at www.plainviewtx.org/trustproperties or you can simply go to Plainview City Hall and submit a written bid, which is the price you would consider paying for the property you wish to buy.  Should your bid win by being the highest bid received AND you meet the requirements listed above and your bid is sufficient and accepted by all entities, the property will be deeded to you upon receipt of the payment of your bid amount and fees to cover the cost of the deed and recording fees, which are minimal.

The minimum bid amount to be considered is listed on each property.  No bid below that MINIMUM BID, will be considered.  The minimum bid listed is the taxable value of the property.


IS THERE VALUE IN TRUST PROPERTY?
There is a saying, that one person’s trash may be another person’s treasure! This is certainly the case with Trust Property. If you are interested in a property, there certainly is value to you.  Maybe the property is next door and you can expand your yard or build a garage. Perhaps a property with a structure can be rehabbed into a profitable rent house. Never underestimate the power of an entrepreneurial mind! So, please notice the signs, look through the catalog, or go online and scroll through the properties.  

The process to purchase these Trust Properties is relatively simple, submit the winning bid!  The paperwork and recording is done for you.  Returning property back to the taxpaying citizens of the community is one of the focal points of this joint effort.  For any questions you may have, please contact TEXAS COMMUNITIES GROUP at 806.TEXASCG (806-839-2724).

 

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901 Broadway St.
Plainview, TX 79072
(806) 296-1100