I have heard of this new or not new thing called a tax sale. I was wondering if people made money, and if it's possible in Texas. I really wanted to earn money with this, and I'm also asking if it is cheaper than buying a house and remodelling and waiting for years.
2006-11-26 08:57:09 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
A tax sale is when you buy property that someone is not paying the taxes on. You simply pay the back taxes. Depending on the laws where you are, the original owner can come foward within a certain amount of time and pay all the taxes that are due. In that case they get the property back, and you get the tax money.
2006-11-26 09:07:11 · answer #1 · answered by Chic 6 · 0⤊ 0⤋
Auctions are the first Tuesday of each month. You can bid on these houses at the county courthouse steps. If there are any other liens on the property, you inherit those. Also, if this was the owner's homestead, they have a redemption period during which they can pay you 125% of what you paid, and they get the house back. So don't spend any money fixing it yet, and you also cannot sell it during that time.
2006-11-26 20:48:24 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋