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are there any homes being sold for the tax money

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December 16 2013 - Wichita Falls
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Contact the Assessor's Office of the town where you would like to buy property to obtain details.
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December 19 2013
Every local county assessor has a plan in place to sell properties for delinquent taxes. Usually after three, and sometimes four, years of non-payment of property taxes, the county will auction off the home. However, the real opportunity to make money in this space is to buy the tax lien from the county. You will earn a completely risk free interest rate on the lien, or you will ultimately get the property at the auction.
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December 17 2013
Check with your local municipality - stop by the courthouse and talk with someone - the more you know, they better decisions you can make - there are a lot of good points made in some of the earlier comments!
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December 17 2013
Yes, Tax auctions are a real thing.  Check for the list from the Sheriff's office the day of the auction.  Most homes go off the list the day before.  Also, consider the 6 month redemption period too but you get your money back with a little more, I think it's like 1/4% of the price.

They're a headache though...

Naima
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December 17 2013
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Arizona has them once a year
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December 16 2013
Of course there are....but it is not as easy as you may think.
#1 there is a redemption period....so you need to check that....and potentially be willing to not collect rent for up to 2years if I remember right.
So that means if the owner is in the house you have a lien against the property, but cannot evict them for two years.
You typically cannot see inside the property before you buy.
If after the two year period they haven't paid what they owe, then you can evict them and take the property back, but think of how they will act when that happens....they may take their anger out on the house.
Tax sales can be a great way to buy property cheap, but it doesn't mean it is always easy....and without risk.
You can check out these links:
http://www.co.wichita.tx.us/sheriff/documents/CivilSales.pdf
http://www.pbfcm.com/pdf%20files/1-2014wichitataxsale.pdf



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December 16 2013
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You may wish to familiarize yourself with home auctions in your area of interest to see how they work and the possibilities.  
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December 16 2013
This is another one of those myths the people that sell books and get rich quick courses talk about. Yes, I am sure there are a couple every dozen years somewhere in the USA but to think it is anything but rare is what they want prospective students to think. Like buying homes for $1.
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December 16 2013
 
Related Questions
are there any homes being sold for the tax money
Profile picture for Ofe Polack
Latest answer by Ofe Polack
December 19 2013 | 8 answers
  • Asked by AntwaunDove
  • In Taxes
  • December 16 2013
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