Hey, Is It Cheaper To Buy Foreclosures or Government Tax Properties??

Question

I am new to this so please correct me if I am wrong here:

1. Foreclosure properties are sold by institutions such as banks when someone defaults (fails to pay) on the loan. They can be dirt cheap or still pretty pricey depending on how much of the loan had been paid off.

2. Foreclosures are not the same as Government Tax Properties.

3) What are Government Tax Properties? Do they cost as low as 300 bucks? And do you own the entire property after just paying 300 bucks - or whatever the cost is? That seems too cheap that I feel it is a scam.

4) Any other cheap ways of buying properties?

Answer 1

Government Tax Properties is the cheapest way to purchase a place. You are correct about foreclosures. The government tax properties are so cheap because the government only wants what is owed on the back taxes.