| So you've heard here and there that buying tax | | | | property will deteriorate in the meantime. You can |
| delinquent property is "loophole" sort of way to get a | | | | agree, those are some major considerations-- |
| property for almost no money down and for a | | | | especially when there's a much more lucrative way to |
| ridiculously cheap price. You haven't been misled- there | | | | buy a home for back taxes. |
| are amazing deals out there to be had, if you know | | | | What you'll need to do is get to the back taxes |
| how to find them. Here's how to buy a home for back | | | | owners themselves, just before their homes are |
| taxes. | | | | permanently foreclosed upon. In most states, this will |
| First of all, if you're thinking you'll pay a few thousand | | | | be in the time period after the property has had a lien |
| dollars to buy a nice property at the tax sale, keep | | | | sold against it, or has had the deed sold at tax sale-- |
| dreaming. The market for tax foreclosure property is | | | | but before the final foreclosure date (usually a year |
| becoming more and more crowded every day. You | | | | window). As the time for these delinquent owners to |
| can be fairly certain that any desirable parcel of real | | | | get their property out of tax foreclosure runs out, they'll |
| estate that's being sold for back taxes will have many | | | | be primed and ready to part with their deeds for very |
| interested bidders... this is most definitely not how to | | | | little money. Then, you just pay off the back taxes, and |
| buy a home for back taxes. | | | | the property is yours! |
| This doesn't mean that you can't profit off of tax | | | | Due to overexposure of the tax investing industry, this |
| delinquent property- you most certainly can. It is simply | | | | is the only really lucrative method to buy a house for |
| unlikely you'll do it at tax sale because of that direct | | | | back taxes. It's still largely unexploited, and it will work |
| competition with large investing companies. Hey-- don't | | | | for you even if you're just looking to buy a house for |
| feel bad about this. While it's a bit more work to go | | | | you and you family to live in. (Better, actually!) There's |
| around the tax sale, you'll avoid pitfalls like not being | | | | still time to do a lot of damage before the competition |
| able to inspect the property first, having to wait years | | | | catches on. |
| to take possession, and having to gamble that the | | | | |