www.johnbeck.tv this guy saying that you can buy house for $500 wiht no problemm afterall.
2006-12-18 04:51:57 · 3 answers · asked by mainstreet1984 1 in Business & Finance ➔ Renting & Real Estate
It is not a scam. You certainly can however, it is highly unusual. Tax sales usually involve highly undesireable property or property with major problems. It also does not include the cost to foreclosing which may not be a lot but isn't free either. Further, if there is a mortgageholder, and there usually is, once they are notified you intend to foreclose they usually pay off your claim so as to foreclose the property themselves. You have no chose in that matter but to accept payment in full. There are better ways to buy quality real estate.
2006-12-18 05:09:06 · answer #1 · answered by Jim7368 3 · 1⤊ 0⤋
Yes, you can, but you probably don't want to. Generally in these cases the house will be so badly damaged as to be uninhabitable (e.g. it was used as a drug den). In some cases by buying the house you may be accepting responsibility for cleaning up a huge mess (e.g. the previous owner regularly dumped contaminated oil in the back yard).
2006-12-18 04:55:36 · answer #2 · answered by jrr7_05_02 2 · 0⤊ 0⤋
It is a scam
2006-12-18 04:54:03 · answer #3 · answered by stinkypinky 4 · 0⤊ 0⤋