Government Auctions - 3 Secret Tax Sale Methods With Houses Under $5K Article

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Government Auctions - 3 Secret Tax Sale Methods with Houses Under $5K

Numerous sources such as CNN, CNBC and real estate investors are very convinced that there has never been a better opportunity in our lifetime to buy real estate. That's because foreclosures are at all time highs bringing down the price of real estate and mortgage interest rates are at or near all time lows.

Author: Nolan Speers

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What most don't understand is that there are many different reasons for a property to become foreclosed, including home owners who default on their property taxes. The local government needs to collect on these taxes quickly so they will liquidate the associated property (called Property Tax Sales), resulting in perhaps the best real estate opportunities for investors. These 3 types of Property Tax Sales, that you're realtor won't tell you about because because there's no commission, are:

Tax Liens - this is where you receive a high interest rate for lending the property owner money so they can pay their overdue property taxes. If they default on your loan then you will receive title on the property.

Expired Tax Liens (also called Over the Counter Tax Liens) - this is when the property owner was unable to obtain a loan and the date has passed (called redemption date) in which all taxes and incurred penalties much be paid to the government. In order to retrieve the taxes owed, the government will take ownership and sell the home for the amount owed. These tax sale properties are available for you to take ownership immediately.

Tax Deeds - these are similar to Expired Tax Liens except that instead of the tax sale property being sold at a set price, the property is sold at a government auctions where the starting bid is typically the amount of taxes/penalties owned on that property. These tax sale properties are also available for you to take over immediately should you be the high bid at the auction.

So what's the best way for you to take advantage of this?

- First of all you need a list of the tax sale properties available in your area.
- Secondly it would be useful to have some basic training to understand the steps involved in buying a tax sale property.
- Thirdly I would recommend a support line that you can call that specializes in tax sales that can answer all your questions and provide you specific advice as it relates to your situation. Most importantly they will advise and guide you so that you avoid any costly mistakes that's occurs often to first time investors.

An idea organization specializing in tax liens would provide:
- Access to lists of thousands of tax sale properties for all 3 types of tax sales. All the info you need to further pursue each property.
- Plenty of tax sale training (video and written) specific to your level.
- Phone support to answer your questions and explain the process.
- One on one support to guide you through the process, suggest shortcuts and warn of costly mistakes to avoid.

Lastly get involved with a program in which the team are a knowledgeable friendly group, who enjoy this business and helping others succeed. With that support by your side you can be sure to make the right decisions in buying the properties of greatest investment value without making the costly mistakes often made be those new to real estate investing.

About Author

To view listings of Property Tax Sales and see how to purchase a property for under $2,000 visit href="http://www.governmentauctionsitereview.com or go direct to www.governmentauctionsitereviews.com/Bank_Foreclosures_and_Preforeclosures.html
Nolan Speers has been involved in home business and business investments such as real estate foreclosures, tax sales properties and other home based business.

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Government Auctions - 3 Secret Tax Sale Methods with Houses Under $5K