Land
Reutilization Commission (LRC)
INFORMATION
The Land Reutilization Commission (LRC)
was created in 1973
by the Nebraska State Legislature
to return tax delinquent real estate to the tax roles.
Counties of Nebraska
The following lists include real estate that has been foreclosed due to nonpayment
of property taxes.
The appraised value is listed for those that have been appraised.
If you don't agree with the appraised value, you may have the property reappraised.
To do this you will need to submit your reasons for the lower value in writing, along with a nonrefundable reappraisal fee.
All monies paid to the LRC must be in the form of a Cashier's check, Money Order, or a Certified check. No personal checks or cash accepted.
How
Can I Buy This Property?
You
will need to submit twenty percent (20%) of the appraised value as your
down payment by the second (2nd) Friday of the month. A contract is prepared
by the LRC Staff for the monthly meeting that is held on the third (3rd)
Friday of each month. In the case of more than one (1) offer for any property,
you will need to attend an auction to bid for the property. All offers
received will be reviewed by the LRC Board. If you are an unsuccessful
bidder your down payment will be refunded in about one (1) week. You will
be notified in writing of the LRC Board's decision and any refunds will
be sent back to those who were not approved.
"Covenant Applies" - On October 19, 2007 the LRC Board approved a covenant that requires the purchaser to commence construction of a dwelling within one (1) year and complete the construction within one (1) year of commencement.
Transfer of the Title takes approximately sixty (60) days. During that time, the County Attorney notifies the current title and lien holders of the potential sale of the property. The owner of the property must pay all taxes and costs in the foreclosure in order to stop our sale. If the owner does not pay the taxes, the County Sheriff's staff will prepare a Sheriff's Deed for the LRC.
As soon as the LRC receives a Sheriff's Deed, you will be notified and given twenty (20) days to make the final payment including closing costs. After your final payment has been made, a Special Warranty Deed will be prepared by the LRC. The County Treasurer cancels unpaid taxes and the property is restored to the tax roles for the new tax year. There may be a large difference between the LRC sale price and the assessed value for real estate taxes. Contact our office for the current value.