2007-07-25 11:53:07 · 5 answers · asked by Thomas D 1 in Business & Finance ➔ Renting & Real Estate
http://www.hud.gov/buying/index.cfm
2007-07-25 11:58:03 · answer #1 · answered by Anonymous · 0⤊ 1⤋
You should probably consult a professional regarding tax lien sales. It was my understanding that after 3 years of unpaid taxes, the county offers the property at the courthouse steps to the highest bidder. The people who are losing the property can reclaim it within 2 years of the auction date by paying the delinquent taxes. You are not entitled to any compensation for repairs, improvements, etc. you performed on the property. After 2 years you can get a deed to the property. The courthouse employee used this scenario regarding tax lien sales.....you buy a house and it needs a new roof. You better wait 2 years before fixing it or else there's a good chance you're fixing up someone else's house.
I think a better chance to get good deals is to go to auctions where the real estate is also being offered. Do your homework on the local market, what's selling, what's included, etc. Do inspect the house thoroughly. Check the plumbing, the electrical, the floor joists, look up in the attic. Don't be intimidated by the number of people at the auction talking about the property....it's safe to say 90% are just curious, 5% might be interested if it doesn't go too high and the other 5% are serious. If you have 100 people at the auction, it's between you and 4 others! Don't get caught up in auction-fever.
2007-07-29 12:55:28 · answer #2 · answered by Robin L 3 · 0⤊ 0⤋
If you are looking for homes which have already passed through the foreclosure process, contact a qualified real estate agent. Nearly all lenders use the services of a real estate brokerage to dispense with REO properties.
If you are looking to purchase prior or during the foreclosure process, you will need to watch newspapers, etc. for notices of homes which are headed to foreclosure. Then show up for the public auction on the courthouse steps, or wherever they hold them in your area.
2007-07-25 19:03:44 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Foreclosure is a legal process that involves several court filings. These filings are Public Records. Contact you local court to find out how to view these records. The courts in my area have a paper that lists all new cases.
2007-07-25 19:11:35 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
local banks have lists
local financial institutions
local mortgage co.
your local county tax accessor
your local county records
sunday papers (under Real Estate)
RealtyTrac.com
good luck...hope this gives you enough to work with :)
2007-07-25 19:02:41 · answer #5 · answered by Blue October 6 · 0⤊ 0⤋