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How do I get a house for the back taxes that are owed? 2 new houses were built and the builder left

My neighbor told me the builder went out of business.  The houses are just sitting there.  How do I go about buying one of these ?
  • June 25 2009 - Simpsonville
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Answers (5)

Did you go to the tax sale this past December and have a chance to bid on the house you were interested in?  I bought my first tax sale property this past year myself after several years of research and observance!  I am a member of the Upstate Real Estate Investors Assoc and also a Realtor specializing in Simpsonville.

There is a one year waiting period where the original owner can redeem, pay you your bid price, plus interest.  After that, you have to go through a legal process to get a QuitClaim Deed so that you have title to convey (sell).  This process costs between $2500-5000 from what I understand.

I'd love to hear if you had any success, it's exciting.  Feel free to contact me and check in.

  • January 30 2010
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Profile picture for natewolf
Most times the builder has a loan on the property (construction loan). So even if the building has stopped, it doesn't mean a bank does not still own it. If you want to look into which bank may own the property, contact a local Realtor. I don't specifically work in Simpsonville, but my office is a member of the local MLS, so if you'd like assistance, contact me via my profile.
  • June 26 2009
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It takes a lot of time and patience trying to find houses at tax sales and most the time you are bidding against investors with cash money!
However it is not impossible to get a house 30 40k off let me know if i can help you look for a good foreclosure property!

Jason Robu
Joy ReaL Estate
864-787-5694
  • June 26 2009
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A very important thing to be aware of is the one year right of redemption period. Also you will have a tax deed, which you will need to get an attorney to clear up for you.
  • June 26 2009
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From what I seen, you need to wait about 5+ years before the gov. forecloses.  Then you can go to the auction and have a bidding war starting at the amount owed.  Unfortunately, I doubt you'll be the only bidder for at a $3,000 auction.
  • June 25 2009
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