The City of Borger in conjunction with the Texas Communities Group, LLC are marketing foreclosed trust properties within the City.
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 in Hutchinson County. These properties were put up for auction and went unsold at the tax sale where a minimum bid was required. The properties are then “struck-off” to the entities.
Texas Communities Group, LLC has placed signs on many of the available properties to help identify properties available for purchase. Catalogs will also be placed 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.borgertx.gov look for the “PURCHASE TRUST PROPERTY” link.
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 code enforcement. Also, as these sales are a part of a clean-up effort, owners will be required to maintain the properties within city ordinances or face forfeiture of the purchase.
HOW DO I BID?
You may place a bid online at either city’s website or you can simply go to the City Hall or the Hutchinson County Tax Office 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 to be considered is $50.00 per parcel of property. No bid under that amount will be recognized. Each entity however, still can decide if the submitted and winning bid is sufficient for 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 are 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 806-839-2724.