Tax Foreclosure Overages - A Consistently Overlooked Way To Get Wealthy From Real Estate

While the tax sale investing industry is exploding

, relatively few people have caught on to a very lucrative way to make money from the tax sale process. It's easy, it requires almost no overhead, the profit potential is through the roof, and best of all, it requires no property ownership: tax foreclosure overages.

Tax foreclosure overages occur when more is bid at tax auction than is owed in back taxes on a property. For example, say you owe $15,000 in taxes but you have a nice property and someone comes to auction and bids $100,000 for your home. Your tax foreclosure overages would be $85,000, and in most places you have the right to go to the tax office and claim that excess.

Unfortunately, many of these owners don't know that they are entitled to the tax foreclosure overages, or even that they exist. Some are heirs that have no idea they owned the property (common). Some are people that gave up long ago and moved on, resigned to the fact that they couldn't keep up the property and knowing they couldn't bail out the taxes. Whatever the reason, if they don't claim the money in time, they will lose it to the government.

Because these funds are held outside the state level, state finder's fee caps don't apply. So how do you profit from tax sale overages? Finder's fees in the range of 30-50%. Find the records of these tax sale overages, find out to whom they belong, find that person and get them under contract for 30-50% for your information and assistance.

These folks aren't up in arms about these fees. They are elated to have a small windfall, and they usually are in dire need of it. Without you to perform this function, they'll never even know about the funds, and they will lose them permanently with no recourse. Knowing that, they are usually overjoyed to work with you and happy to pay your fees. With the numbers of these claimants growing with growing foreclosure rates, professional money finders are needed more than ever.

by: Maggie Dawson

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