So you’re looking for a smarter way to buy property, whether it’s for living or investing. Congratulations. If you’re reading this article, it means you’ve jumped from the “thinking” phase to the “doing” phase, and most people never get that far. There are plenty of deals available, if you’re willing to do a little research.
You’ve probably heard that tax foreclosure property is a great investment, and you haven’t been led astray; But now, he’ll learn how to buy a home on back taxes, dirt cheap, without having to deal with the headache of the competition. If you’re looking for cheap property to buy and live in, stay tuned too – this technique will work even better if you are not an investor!
At this point, throw out everything you’ve ever heard or read about sales tax. If you’re smart, you’ll quickly realize that you can’t compete with all the big companies that will clamor to bid against you for the sale. Tax selling, whether for deeds or liens, is not a place for the savvy investor in today’s market. There’s a much better way for you to buy a home for back taxes: from the tax delinquent owner himself.
Most people overlook this strategy, so you will find almost no competition. If you’ve ever tried to buy directly from a foreclosed homeowner, then you’ll understand why this is so unappealing to foreclosure investors. You often can’t get these landlords to call you back for the life of you, and if you get a deal, then you have to deal with the mortgage, the second mortgage, the back bills, the back taxes; but when you buy a house for back taxes, it’s a different animal.
Why?
Because these houses almost never have a mortgage!
That’s how it is. The mortgage company takes care of any tax issues to avoid losing your interest in the property. So you’ll find that almost all of these homes are mortgage-free, or they wouldn’t be available for tax sale in the first place.
Another thing that may seem counterintuitive is that landlords will almost always return your calls, and when they do, they are eager to make a deal with you to sell you, and for very little money, just to get the property. out of his name! This is because, as you will see, many of these property owners are not down on their luck and losing their homes. They are people who inherited property, or absentee owners, who got fed up with this economy and actually let the property go on the tax sale on purpose, just to get rid of it.
This gold mine of homeowners can be hard to find, making them great prospects, and you’ll be pleasantly surprised to find out how many of these homeowners are willing to give you their deed for a couple hundred bucks, just because they’d rather see you go. to end up with a good small-time investor like you, to see that it goes to the government. Are you looking to buy a property to live in it? Even better. Expect to find owners even more excited to give it to you, with next to no money.