How To Buy Homes That Are Delinquent On Taxes - The Insider's Way

Want to know how to buy homes that are delinquent on taxes

? There's a lot of them, especially right now, and they are a great way to turn profit in a bad real estate market. Unfortunately, everyone's getting in on this action, which makes buying at tax sale a bad deal. Here's how to buy homes that are delinquent on taxes - the insider's way.

First, wait until after the tax sale. Once the tax sale is done, you can research what happened there - namely, which properties got lots of bids. This will tell you which ones are desirable, without you having to do much research on your own. (Let the big tax sale companies do that for you!) Then, research and find these properties' owners.

Wait until the redemption period is coming to a close, a month or so before, and then contact the owners that still haven't redeemed. At this point, they'll be ready to sell. This will be the time when you'll be able to buy homes that are delinquent on taxes for next to nothing.

Also, by researching the owners after tax sale, you may find that many owners are deceased, and that's how their properties got into tax sale in the first place. Their heirs are the best prospects for getting really cheap property. These people don't want the burden and just want some cash for the property. Many are willing to sign over the deed for just a few hundred bucks.

Another thing you'll notice when you research the tax sale is that many of these same properties have overbids. That is, the amount of taxes owed was much less than the amount a bidder paid for the deed. That overage amount is due back to these owners. Unfortunately, they are often hard to find and thus, never collect the money. After a while, the government gets to keep it.

If you can find these owners, you can reconnect them with their funds for a 30-50% finder's fee. Very, very few people know about these funds, and there are billions out there to collect. It's legal to act as a money finder in this way, and on overages of five figures, you stand to make a huge yearly income just from overages alone. Combine the two techniques, and you're golden.

by: Maggie Dawson

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