| If you want to buy a house for back taxes, | | | | decided to let the property go, if they'd be willing |
| there's never been a better time than the | | | | to sign their deed over to you so you could see if |
| present. Here's a step-by-step guide showing you | | | | you can do something with it. If you want you |
| how to buy a house for back taxes without | | | | could even offer to give them some proceeds, if |
| attending the auction, and for as cheaply as | | | | you're able to make any money with it. |
| possible. | | | | You'll be surprised how often they are agreeable |
| 1. Wait until after the tax sale, and then check the | | | | to this idea - especially if you're upfront about |
| results. Everyone and his brother wants to buy a | | | | what you're doing, and the fact that you're very |
| house for back taxes these days, and they all | | | | new to buying houses. It makes people feel good, |
| end up at the auction. Do yourself a favor, and | | | | especially when they're in a bad situation, if they |
| skip the auction. Once it's passed, check the | | | | feel they can help someone else, like you, out. |
| results and see which properties were "hot" and | | | | 4. Quickly flip the property to another buyer or |
| got a lot of bids. The ones that didn't are likely | | | | investor. Since you have only invested a small |
| worthless. | | | | amount of money, if any, you can afford to flip |
| 2. Contact the owners of the property about nine | | | | the property to someone else and take a few |
| months after tax sale. They're give a year grace | | | | thousand in profit (rather than worrying about |
| period, and during that time, many of them will | | | | selling for retail value). Or, if you do want to sell |
| pay the taxes off. The ones that don't are in a | | | | for as much as possible, pay the taxes off |
| pickle - they either need to sell fast, or they will | | | | yourself and go to work selling the property. |
| lose their equity entirely. | | | | If you want to buy a house for back taxes and |
| 3. Find out what their plan is. Some will be ready | | | | you're not swimming in startup investment capital, |
| to sell at this point. Others have already decided | | | | this is the easiest route to take for your first |
| to just "let the property go" and have moved on. | | | | purchase. However, you'll probably quickly get |
| These owners are a treasure trove for a new | | | | addicted to this method of tax property investing! |
| tax investor. Ask them if, since they've already | | | | |