| The answer is yes. But it's not as simple as someone | | | | original amount of taxes owed. Which creates an |
| just swooping in and paying off your taxes, and then | | | | interesting opportunity for investors... |
| kicking you out. | | | | If you are an investor looking to invest in these |
| If you are behind on your taxes, you are not at risk of | | | | properties, you're going to love this next concept. It's |
| someone else buying your property just for the taxes. | | | | got all the real estate sized paychecks, without |
| There is a legal process involved that the government | | | | property ownership. |
| must follow before they can seize your home for | | | | When more is bid for a property at tax sale than is |
| back taxes. This varies state by state, but in most | | | | owed in back taxes, the overage amount is generally |
| states, your home will be put up for sale at tax auction, | | | | due back to the owner. Unfortunately for them, many |
| or a lien will be sold on your home at auction. After | | | | have gotten so good at ignoring communication from |
| that, you will have another period of time - a year or | | | | creditors and the government that they miss the notice |
| so in most cases - to pay the back taxes, interest, and | | | | of the funds they are due, and move on, leaving them |
| penalties, and get your house back. After that, the | | | | behind. They eventually are lost permanently to the |
| buyer at tax sale will be allowed to apply for your | | | | government. |
| deed, and you will be evicted if you are still living in the | | | | Because a legal loophole exempts these funds from |
| property. | | | | having finder's fee caps, you can locate their owners, |
| You will likely have been notified many times of your | | | | who generally have no clue where they could have |
| delinquent tax status before the property goes to tax | | | | "unclaimed funds" coming from, and charge a 50% |
| sale. And you will definitely be notified when it is set to | | | | finder's fee. With the number of foreclosures shooting |
| be put up for auction. Also, your home will likely not be | | | | up, it's not out of the realm of possibility to do several |
| sold for just the back taxes owed. Generally, at tax | | | | finder's fee agreements a month. And since these |
| sale auction, the opening bid for a property is the | | | | funds are often for hefty sums, you can easily make a |
| amount of taxes owed on it. Properties, especially | | | | five-figure income every month just from connecting |
| nicer ones, are often bid up much higher than the | | | | owners with their lost overages. |