Therefore, you are looking for a smarter way to buy property, whether it is to live or to invest. Congratulations. If you are reading this article, it means that you have gone from the “think” phase to the “do” phase, and most people never go that far. There are many offers, if you are willing to do a little research.
You’ve probably heard that tax foreclosure property is a great investment, and you haven’t gone astray; But now, you’ll learn how to buy a cheap, back-tax home without having to deal with the headache of competition. If you are looking for a 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, discard everything you’ve 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 on the sale. Selling taxes, whether by deeds or links, is not a place for the savvy investor in today’s market. There is a much better way to buy a home with back taxes: from the same tax-delinquent owner.
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 understand why this is so unattractive to failed foreclosure investors. You often can’t get these homeowners to call you back for life, and if you get a deal, you will have to deal with the mortgage, the second mortgage, the back bills, the back taxes; But when you buy a home with back taxes, it is a different animal.
Because these houses almost never have a mortgage!
That’s right. The mortgage company takes care of any tax problems to avoid losing your interest in the property. So, you will find that almost all of these homes are mortgage-free, or would not be available for tax sale in the first place.
Another thing that may seem counterintuitive is that landlords 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 owners of these properties are not unlucky people and they are losing their homes. They are people who inherited property, or absentee owners, who have had it with this economy and actually let the property be sold with taxes on purpose, just to get rid of it.
This goldmine of homeowners can be hard to find, making them great prospects, and you’ll be pleasantly surprised to learn how many of these homeowners are ready to hand you their deed for a couple hundred dollars, just because they would. I’d rather see you go to a small-time, friendly investor like you, than see him go to government. Are you looking to buy a property to live in? Even better. Expect to find owners even more excited to give it to you, almost penniless.