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Myrtle Beach - Conway area Horry County
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Old 11-23-2014, 11:54 AM
 
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I'm interested in attending the Tax Auction for Horray County (Myrtle Beach and area) on December 01. Has anyone been successful at these auctions. What was the auction price for lots in Waterway Palms, Waterbridge, Plantation Lake and Carolina Waterway? My lawyer told me to stay clear of the auction. Any opinions?
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Old 11-29-2014, 09:12 PM
 
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I have been to a couple of auctions. I am certainly not an expert.
See this link for Annual Delinquent Tax Sale Auction Details.
Delinquent Tax - Horry County Government
Keep in mind that even if you win the bid it is possible that the taxes will be paid before the year is over and you will not receive the property, but you will receive your money back with interest.
If the taxes are not paid in 1 year, you should get the property.
Do your research before bidding.
For "sales" that have completed the one year period and actually changed hands, you can see the details of the properties by going to the web site:
Horry County, South Carolina Tuesday, Nov 25, 2014. LAST CFN = 2014000140993 v4.3.0.0
Search Records: Name
Name: DELINQUENT TAX MANAGER HORRY COUNTY
or
Search Records: Legal Description/Memo
Comments: Contains "The Name of the property you are interested in"
to see all properties that sold in that neighborhood for any reason.
You might want to try the Foreclosure Auction conducted every month by the Master-in-Equity.
Mast In Equity - Horry County Government
If you win this bid, the property is yours. But once again, do your homework.
You may also have to pay back taxes and perhaps liens on these properties.
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Old 12-11-2014, 07:30 AM
 
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Thank you for the info. I attended the auction on Dec 1st. It was my first and had planned to bid on lots in Waterway Palms and other similar projects. I thought a fair auction price might be $3,000-$5,000. I was obviously mistaken to learn that the average price was just over $30,000/lot. At one point in the auction a bidder rose to say "If your ready to pay those prices I have two lots I will sell you today"
I might try the foreclosure route next time or even have a look at other States. Any recommendations?
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Old 12-11-2014, 07:52 AM
 
Location: Sneads Ferry, NC
11,823 posts, read 21,472,419 times
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Quote:
Originally Posted by martelmb View Post
I might try the foreclosure route next time or even have a look at other States. Any recommendations?
I doubt if you will find lots in any area close to the coast at only $3-5K, especially if they have sewer and water connections. Foreclosed lots in Pender County North Carolina are listed at $10-12K for Summerhouse at Everett Bay. (I havn't checked auction prices.) You might also have to pay back HOA dues.
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Old 12-14-2014, 07:02 PM
 
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Prices were higher this year than in years 2009-2013. In 2009-2012, for properties that actually ended up selling rather than having the taxes eventually paid, the prices were 2,000-13,000 including one on the Intracoastal Waterway in 2009 for 6,975. In 2013 winning bids were 6,600-20,000 not on the ICW and 72,000-95,000 on the ICW. Not sure yet which ones will actually sell and which ones have been paid off. In 2014, non tax sale lots not on the ICW have sold for 14,000 - 55,000. In 2014, I see 2 sales from the foreclosure auction for non-ICW lots for 16,000 and 26,000 So there are not a lot of lots that come up on the foreclosure auction, but keep looking and you might be able to find one. Keep in mind you may very well have to pay back taxes and perhaps other liens in addition to the purchase price when you buy the property. Also, dues in Waterway Palms are ~100 a month and you will have to start paying them right away after you buy the property. Foreclosure auctions are found on the Master-in-Equity web page of Horry county.
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