How to Get a Home for a Bargain
How to Get a Home for a BargainNeed a Home? Tax deed and tax liens are a great way to find a home for sale and get that home on the cheap.
Today in “Need a Home? Consider a Home for Sale in a Tax Deed Auction”, the topics I’m going to cover are:
- Buying a House Cheap at a Tax Sale
- How to Find Homes for Sale
- Know the Rules When You Buy a House at Auction
Want to learn how to purchase bargain real estate? Would you like to buy mortgage-free property for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then you don’t want to miss this FREE Mini Course.
Buying a House Cheap at a Tax Sale
If you need a home, it is possible to buy a house for pennies on the dollar in the United States today. This kind of home for sale is not found through a real estate agency or Craigslist, but at the courthouse or city hall.
When people do not pay their property taxes, the local governments have to get their money somehow. That’s done through a tax lien or a tax deed sale. The local government records a tax debt lien on the property and then sells that lien it at a public auction.
You’ll find these kinds of sales all over the country. Some states have such sales quarterly and some do it annually. Check with the department of revenue in the state to find out how often such sales are conducted.
How to Find Homes for Sale
Here are some simple guidelines to follow if you need a home.
Step one in this process is to decide what kind of community and which state you’d like to buy a house in. Do you want to live in the mountains, the beach, big city, suburb or rural areas? Do you want the South, North, East Coast, West Coast or the heartland?
Every kind of area and state has a home for sale under these tax sales.
Step two, decide how much you’d like to spend and make sure you have the money. It’s no joke to say that a good beach house can sell for less than \$5,000. A mountainside retreat could be yours for less money than you get back on your income tax refund.
More and more tax deed and lien sales are going online, Each state has a department of revenue that can tell you how often tax sales are held. With that information, go to the community where you’d like to buy a house. Call the local government and ask when the next tax sale will be held.
When you have the dates for the sale, the local newspaper is your the best source of information. Every home for sale in the tax sale will be listed in the paper. You can get address information from the listing.
Using online mapping and street view services, you can get an idea of the home’s condition. You can even learn about the neighborhood.
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Know the Rules When You Buy a House at Auction
Make sure you set aside time to attend the auction. Some of these sales allow online bidding. Some require in-person bidding. If you are the successful bidder on a home for sale, you may have to pay at the end of auction. If you’re bidding online, you have a few days to make the payment.
You should also check with any other local government which may have a past due tax lien. A county board, a board of education and a city each could have a lien on the same property. You’ll need to settle these taxes.
You need to understand your rights and what happens before you can move in. Each state has different rules for redeeming or foreclosing to claim the property. The state department of revenue can explain this.
Conclusion
If you need a home, you can purchase one for as little as the delinquent back taxes at a tax deed auction.
If you’d like to know more about tax delinquent property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.
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