Upcoming Foreclosures

Can you really buy government tax lien foreclosure properties free & clear with only hundreds dollars?

Public Comments

1. Tax liens do not foreclose. You buy the tax debt and have the right to collect it plus interest. You do not buy the properties at this type of sell, only the debt.
2. That's a big misconception. Your local county, etc can seize properties that have defaulted on property tax payments. Those properties are then usually sold at auction by the county sheriff (at least out here). You can get properties based on the taxes owed, but usually NOT for 'hundreds of dollars'. In some cases yes, but usually it's a few thousand dollars. The catch here is that usually the property owner has the right anytime to come back and pay the back taxes and get their property back (there IS a time limit and it can range from 3 months to 2 years depending on the jurisdiction). Also, if you go to one of these tax auctions on the steps of the county courthouse, have the money IN HAND because they don't take VISA. You'll also find about a gazillion other people there who had paid lots of money to find this out at various 'real estate' seminars around the country, and they TOO are trying to 'buy that propert for a hundred dollars'. It's a scam.
3. think about it.......... has anyone bought a home, free and clear, for $345.00 at a tax sale recently? Hordes of investors flock to the tax sales in the area where I live, bidding up the prices of foreclosure properties far beyond a few cents on the dollar. It just doesn't happen.