subject: How Do I Buy a House for Back Taxes? [print this page] How Do I Buy a House for Back Taxes? How Do I Buy a House for Back Taxes?
Thinking to yourself, "How do I buy a house for back taxes?" You don't need a ton of money to invest in property. Not when it's tax property. There's a ton of it cropping up every day, and it's not difficult to get if you know a few tricks. The steps below will have you buying tax property for $200, outside the auction, in no time.
1. Tax sale is a thing of the past for you now. Most properties at tax sale sell for close to retail value. Between new bidders and large tax firms, good properties almost always sell for close to what they would on the market. By the way - if you did win the bidding, it would be on a property you haven't seen the interior of. So you'll need another way to buy a house for back taxes that donsn't involve the tax sale.
2. You want to start buying property towards the end of the redemption period. Most property with liens and mortgages has been paid off by now. This leaves owners that can't or don't want to pay the taxes, for a number of reasons. These are just the properties you're looking for!
3. Locate the owners' current contact info (they are probably not still at the property). This can be done easily using free internet searches. The next step, once you've found them, will be to initiate contact.
4. Since they're just letting the property go, ask if they'd sign the deed over to you. Since they don't want the property, would they mind signing the deed over to you? Offer a few hundred for their effort. Most owners are glad to have the deed out of their name sooner, so you'll get a lot of "yeses."
5. Decide whether to sell or keep the property. If you want to keep the property, great - pay the taxes and rent it out or live in it. Or let another investor buy from you and pay the taxes - you can still make thousands this way.
So the next time you're asking yourself, "How do I buy a house for back taxes?"- this is by far the best way to to do it. And the foreclosure rate is through the roof right now - so get to it!
