It can be done, but it takes a lot of legwork. In most cases if the house is worth a lot you will get paid back the amount of back tax you paid off plus interest. In a few cases you won't get paid back and you can then (with some effort, varies by state) claim title to the property. A lot of the properties that are abandoned end up being worth less than the back taxes (drainage ditches, odd strips of useless land, etc), so to avoid losses you have to be very careful in your research.I've heard of buying homes through the gov. by paying off property tax how do I do this or is it a scam?
It is next to impossible,so technically its not a scam.
See you need to find a home that an owner owns free and clear (no mortgage) who has back taxes. The odds of this are slim to none. Most people who don't pay their taxes also have mortgages, which they don't pay either. It is no good to pay back taxes on a home that you would also inherit the mortgage owed. I would say that these guys make their money selling you books, not buying real estate.I've heard of buying homes through the gov. by paying off property tax how do I do this or is it a scam?
I dont know about buying through the govrrnment but the best way to buy is at tax sales in counties. You can ask about the at local court houses. They make a list once a year and you get the list and send in closed bids, and you will be contacted if you win the bid. First get the info go take a look at the property and bid, then wait.
Subscribe to:
Post Comments
(Atom)
No comments:
Post a Comment