Tax Lien Properties Up For Sale
Do you ever wonder about all the tax lien properties up for sale? And being an investor is it a wise move to purchase real estate? If so, then you need to know some things about tax lien properties before participating at the auction.
First, what are these tax lien properties? These are properties (house, vacant land, commercial, etc) that have been put on the market because due to unpaid taxes owed to the government. When a property owner fails to pay their property taxes, that's when a lien is put on the property for what's owed for the back taxes. The home owner will still be given a date to pay the taxes or forfeit their home. With all the mortgages that have gone into foreclosure, lots of taxes have gone unpaid as well. In order to pay off this debt, the county treasurer issues an order to sell the places to pay the delinquent balances.
Secondly, what do property taxes cover and why are you paying for it? Every homeowner has a share in the community and pays cover the costs. These help pays services such as for public schools, road maintenance and construction, parks and landscaping maintenance, public libraries, police, sheriff and fire departments. Property taxes are normally based on the assessed value of the property as assessed by the county. The county assessment is not necessarily the value of the house as a real estate appraisal would value a property for purchase or refinance. Property taxes are specific to the county and if you want to know what you're paying for, the county tax assessor's office can provide a breakdown of just what is included and how it is calculated.
Lastly, are these good investments? These depend on an individual situation. Properties sold during the auction is on €as is€ basis, that means that these are going to be sold with its current condition including its flaws. To avoid wasting your investments, you must do your research, and investigate the situation of the property before you invest in it. Try to find out the financial situation of the owner and also revise the property thoroughly considering aspects such as location, or risk of flooding. Is the roof in good shape? Is the foundation solid? Make sure the property is in a good standing and you'll make a great investment.
At an auction it is on cash basis, the winner will be the one who bids on the highest amount. Research on the county auctions' terms and condition and check what time of payment will they accept to avoid problems. You, as an investor must be prepared before attending to auctions. Spend time to RESEARCH.
Getting interested investing in tax liens? Find out more of its secrets at http://www.taxsalessecrets.com/taxliens.html?orid=10519&opid=1
First, what are these tax lien properties? These are properties (house, vacant land, commercial, etc) that have been put on the market because due to unpaid taxes owed to the government. When a property owner fails to pay their property taxes, that's when a lien is put on the property for what's owed for the back taxes. The home owner will still be given a date to pay the taxes or forfeit their home. With all the mortgages that have gone into foreclosure, lots of taxes have gone unpaid as well. In order to pay off this debt, the county treasurer issues an order to sell the places to pay the delinquent balances.
Secondly, what do property taxes cover and why are you paying for it? Every homeowner has a share in the community and pays cover the costs. These help pays services such as for public schools, road maintenance and construction, parks and landscaping maintenance, public libraries, police, sheriff and fire departments. Property taxes are normally based on the assessed value of the property as assessed by the county. The county assessment is not necessarily the value of the house as a real estate appraisal would value a property for purchase or refinance. Property taxes are specific to the county and if you want to know what you're paying for, the county tax assessor's office can provide a breakdown of just what is included and how it is calculated.
Lastly, are these good investments? These depend on an individual situation. Properties sold during the auction is on €as is€ basis, that means that these are going to be sold with its current condition including its flaws. To avoid wasting your investments, you must do your research, and investigate the situation of the property before you invest in it. Try to find out the financial situation of the owner and also revise the property thoroughly considering aspects such as location, or risk of flooding. Is the roof in good shape? Is the foundation solid? Make sure the property is in a good standing and you'll make a great investment.
At an auction it is on cash basis, the winner will be the one who bids on the highest amount. Research on the county auctions' terms and condition and check what time of payment will they accept to avoid problems. You, as an investor must be prepared before attending to auctions. Spend time to RESEARCH.
Getting interested investing in tax liens? Find out more of its secrets at http://www.taxsalessecrets.com/taxliens.html?orid=10519&opid=1
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