Getting a Deed For a Foreclosed Home by Just Paying the Back Taxes
By Maggie Dawson
Getting a deed for a foreclosed home by just paying the back taxes is possible, but usually requires a little extra cash ($200 or so). Here’s the easiest and cheapest way to get those deeds, outside the auction, and with very little competition.
1. Don’t attend the tax sale. This is where most of your competition will be, and the prices on the properties will be bid too high.
2. Wait until after the tax sale. It’s still legal to buy property directly from owners at this point, and it’s the point at which the fewest investors are still in the game.
3. Check the tax sale results. Wait until about 9 months after tax sale, and then check the tax sale results to see which owners still haven’t paid their taxes.
4. Contact the remaining owners. See what they are planning to do with the property. Some have decided to let the property go. Others are desperate now to see. In both cases, you’ll be able to pick up the deeds to their properties for next to nothing – often as little as a few hundred dollars, if you say the right thing.
5. Pay off the taxes, and the property is yours. At this point you can decide whether to sell or hold. If you don’t have the money to pay the taxes, you can quickly flip the property to another investor and still walk away with thousands in profit.
Getting a deed for a foreclosed home by just paying the back taxes is easier than you think, especially with high foreclosure rates. Give this method a shot – whether you’re a seasoned investor or just considering getting into the business, buying property directly from the owners after tax sale is the only surefire way to get tax property for $200 or less.
The current foreclosure rate won’t last forever – take advantage of it now.
Wondering what to say to the owners? Visit http://Deed-Grabber.com to learn the “magic words.”
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