Tax Sales Are In

A lot has been said about tax sales recently

A lot has been said about tax sales recently. They seem to be all the rage in the real estate industry. Yet, many people don't know what they are. They don't know what they consist of, how to get involved, or if they even care to be involved with these tax sales. While tax sales are often mentioned in passing, not much is known about them.

Tax sales are held annually; sometimes more often than that. They are auctions held by the government to recoup back due taxes. These properties are sold in the form on tax lien certificates - an opportunity to make a good interest rate, but necessarily gain a property - and through tax deeds - where the investor becomes the new owner of the property.

As an investor you can also attempt to purchase properties before the tax sales even occur. If you want to do that you'll need to get yourself a copy of the list of properties that will be put up for auction. By visiting your county auditor or accessing their website you will most likely be able to secure a copy. The next step would be doing a bit of research and contacting the current owners.

Contacting the owners of the properties can be intimidating, but just remember that they are in a pickle and will probably be grateful to get out of this tax nightmare without ever having their properties sent to tax sales. Deeds cannot be signed over without the payment of the delinquent taxes, because the government puts liens on these homes, so expect to pay at least what is owed including any fees that have been incurred.

Research is key to getting the best deals on your investments. At tax sales you don't get much information, so before you head out to an auction you'll want to have at least some idea of what you are getting yourself into. You might want to visit the site, talk to the current property owners, and/or do a quick internet search before investing your money into a property.

Tax sales can be intimidating, but with the right amount of effort put into it you can make a good amount of money and returns. Though the general public hasn't learned much about these tax sales until recently, the wealthy have been using them as a guide to their affluence for years on end. You too can aspire to and reach that same level of financial security.

by: Moses Malcom

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