| Can I own property by paying back taxes owed? | | | | his deed and agree on a percentage split of whatever |
| Simply put: yes. If you know the right way to buy tax | | | | you are able to get out of the property. Then you can |
| property, you can definitely own property by paying | | | | either pay off the taxes and try to sell the property for |
| back taxes and as little as $200. | | | | retail, or you can sell for well below retail to another |
| If you're thinking of bidding at tax sale, think again. | | | | investor and let him pay the taxes off. Either way, you'll |
| There are a lot of good reasons to stay away from | | | | walk away with a huge return on your $200 |
| tax sale. There are too many bidders now, causing | | | | investment. |
| prices to soar. You can't inspect the property before | | | | You'll also find certain owners that have decided to |
| you buy it. You have to pay for your entire bid, which | | | | just let the property go. Maybe they got tired of |
| will never be just the back taxes, at the auction; and | | | | owning a property, or maybe they inherited a property |
| then you have to wait, sometimes years, before you | | | | they never wanted in the first place. Either way, they |
| can get the deed. And in the meantime, most owners | | | | don't care about the deed anymore. |
| redeem the property anyway. | | | | Ask these folks, since they're letting it go anyway, if |
| If you want to own property by paying back taxes but | | | | they'd mind signing the deed over to you so you can |
| you want to avoid the above scenario, you'll have to | | | | see if you can do something with it before the |
| buy outside the auction from the owners themselves. | | | | redemption period ends. Offer them $200 for their time |
| But you'll want to wait until after the tax sale for a | | | | to sign over the deed. You'll be amazed at the positive |
| couple key reasons. The owners usually aren't ready | | | | response you'll get - these people just want the deed |
| to sell until they've exhausted every possibility for | | | | out of their name sooner. Then follow the steps above |
| coming up with the tax money. And by waiting for a | | | | to sell and get your profit - only this time it may be |
| while after tax sale, you can be reasonably sure | | | | 100% yours. (You can also split percentages with |
| whatever property is left unredeemed is free and | | | | these owners too, of course, if you like.) |
| clear (or a mortgage company would have paid it off). | | | | And that's it - the best kept secret to getting your own |
| So you're dealing with extremely motivated sellers that | | | | property by paying back taxes. It's by far the least |
| own free and clear property. And there's not much | | | | risky, and even very new investors can make a lot of |
| competition during this time period. Do you smell a | | | | money starting out this way. With the current |
| deal? You should! | | | | foreclosure rate, you should give this method a shot - |
| At this point the owner's got to sell. Offer him $200 for | | | | there's a lot to choose from. |