| The answer: yes, and no. | | | | the tax sale, there is a year long (in most places) |
| In most places, tax foreclosure property is sold by | | | | redemption period. If the owner still finds himself |
| the government at auction to the highest bidder, | | | | unable to pay at that point, he'll be ready to sell to |
| with the opening bid amount being the amount of | | | | you for very little. In fact, once owners are already |
| back taxes and penalties owed. So theoretically, if no | | | | resigned to losing their property, they'd much rather |
| one else were there to bid against you, you could bid | | | | see a nice person like you buy it, than lose it all to |
| the amount of taxes owed and walk away with the | | | | the government. |
| deed to the property. | | | | 2. Many times, owners of tax foreclosure property |
| In a few places, deeds (or more often, liens) are sold | | | | simply don't want the property any more. These are |
| for the exact amount of taxes owed, and a lottery | | | | owners such as heirs to unwanted property, owners |
| system determines who gets to buy the deed or lien. | | | | of a second home that got to be too much, failed |
| If you're looking to buy property for very, very little, | | | | landlords, etc. Again, these owners don't care and will |
| however, tax foreclosure property is still the best | | | | be glad to sell to you for very little, just to get the |
| way to go. You'll just need to avoid the auction and | | | | property out of their name and to be done with the |
| purchase the deeds directly from their owners. | | | | tax sale situation. |
| Whether you're looking to invest, or hoping to find a | | | | In these situations, you will find you're able to buy |
| property you yourself can live in, buying tax | | | | deeds for as little as a few hundred dollars. Then you |
| foreclosure property directly from the owner is the | | | | can either pay the taxes off yourself and own the |
| only surefire way to get a really amazing deal. Here's | | | | property, or flip the property to another investor, |
| why: | | | | pocket some quick cash and let that guy deal with |
| 1. Owners of tax foreclosure property become more | | | | paying the taxes off. |
| and more desperate to sell as time goes by. After | | | | |