Are you looking to Sell Property Fast? Starting with tax defaulted properties can be a great way to sell faster.
By purchasing tax-defaulted real estate at auction for a large discount, you can sell property fast, either through offering owner financing or finding bargain hunters, and have the opportunity to make money in real estate without having to wait months or even years to sell a property.
Today we’ll explore what is tax defaulted property, the process of buying these properties at an auction for pennies on the dollar, as well as strategies for making profits from selling faster. So if you’re ready to get started on your journey towards selling property fast with tax defaulted real estate investments – read on.
What is Tax Defaulted Property?
Local governments hold auctions selling Tax Defaulted Property, otherwise known as Tax Lien Certificates and Tax Deeds, when the property owner has failed to pay property taxes. When a property owner becomes tax delinquent, the county or municipality will place a lien on the property. This lien gives the local government legal claim to the title until all back taxes are paid in full.
Tax defaulted property sales are public auctions where local governments can recoup lost tax revenue through selling these tax delinquent properties. Investors can purchase tax defaulted real estate for significantly lower prices than market value because the bidding on the properties opens at the amount of the delinquent back taxes, which can be 10, 20, or 30 cents on the dollar of the tax assessed value.
Investing in tax defaulted property can be a lucrative endeavor, as you have access to exclusive deals in a little-known market that most other buyers aren’t even aware of, and due to the low opening bids, you have the potential for significant upside. Since you can purchase real estate at a drastically discounted rate, you can sell a house fast and earn a tidy profit.
While investing in tax defaulted properties can be a lucrative prospect, it is vital to comprehend the risks involved. In order to make the most informed and advantageous purchase of tax defaulted property at auction, it’s imperative to have thorough knowledge, know the rules and be prepared.
The Auction Process for Buying Tax Defaulted Property
Buying tax defaulted property for resale can be a great way to get started in real estate investing. Before going to an auction, it’s essential to be informed about the procedure to obtain a prosperous outcome.
To find tax defaulted property auctions, you can consult your local county treasurer’s office or website, or you can check the local newspapers. There you can learn when the next auction will be held and obtain a list of the tax delinquent properties up for sale.
Preparing for the Auction:
Once you’ve found an auction, do your due diligence by researching the properties for sale so that you know what kind of condition they’re in and what their potential resale value could be. Make sure to factor in all costs associated with rehabbing the property, if necessary, so that you don’t overpay at auction day.
Bidding for tax defaulted real estate can be fierce in some counties; don’t get caught up in a bidding war and end up overpaying. There will always be plenty of other tax delinquent properties available. Be prepared to act fast at an auction – this also means having the funds on hand to promptly pay for your purchases.
Once your bid has been accepted by the county, make sure all paperwork is filled out correctly before submitting payment; otherwise, it could delay closing on time which would put additional strain on both parties involved in this transaction. Additionally, keep track of any taxes owed after purchasing tax defaulted properties because these fees must be paid promptly as well.
Before bidding on tax delinquent properties, it is essential to be familiar with each state’s laws and regulations pertaining to tax defaulted property auctions. With creative financing strategies, there are also many ways to quickly sell your newly acquired property investments.
Strategies for Selling Property Fast with Tax Defaulted Property Investments
Selling at a discounted price is one of the most effective strategies to sell property fast with tax defaulted property Investments. This strategy involves targeting bargain hunters looking for properties that are priced below market value and fixer upper people who are interested in rehabbing distressed homes. By offering these potential buyers discounts, you can sell quickly and generate profits in a short amount of time.
One way to attract bargain hunters and sell property fast is by advertising on sites such as Craigslist, eBay, Facebook Marketplace, Zillow, Trulia, or the Multiple Listing Service (MLS). Additionally, you can advertise in local newspapers and place signs around the neighborhood.
Offering Owner Financing as an option is another great way to sell property fast. Many potential buyers don’t have the credit rating to secure bank financing to purchase a home, but they may be able to afford monthly payments over time if given the opportunity. You can capitalize on this by offering owner financing options when selling your tax defaulted properties.
Utilizing creative financing strategies is yet another option to sell property fast when you’re reselling your tax defaulted property investments. Consider utilizing creative financing strategies such as lease-to-own agreements. These types of arrangements often result in fast sales since both parties involved benefit from having mutually beneficial terms established before closing the deal; something not always available through traditional bank loans.
Tax defaulted property investments offer you the opportunity to purchase real estate at a large discount and sell property fast for lucrative profits. When you buy real estate for pennies on the dollar, you can sell fast by also offering the property for sale at an attractive discount.
By understanding the auction process, researching potential properties, and utilizing strategies such as owner financing or selling to bargain hunters, you can easily sell property fast with tax defaulted real estate investments.
It’s simple. Buy low, sell low, and move on to the next deal to sell property quickly and generate cash flow fast.
If you’d like to know more about tax-defaulted real estate investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, personal coaching with certified coaches, and an interactive map and auction calendar research tool that allows you to visit each county online to find the details about upcoming auctions.
Start your money-making journey by attending Ted’s 7-Hour foundational training. Download your Free Insiders Report & Book your seat today to attend the Retire Rich From Home Virtual Workshop.
Want to earn massive income from bargain real estate investing? Would you like to buy mortgage-free homes for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then get started today with this Free Gift.
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.