How to Buy Back Tax Property Outside the Auction For Less Than $500

The tax sale auction is no longer a great place to buy back tax property. Among other pitfalls – not being able to inspect property beforehand, and owners paying off 95% of the time – the influx of investors in the last 10 years has ensured that properties will get bid up close to retail value. Here’s how to buy back tax property outside the tax sale auction for less than $500.

1. Wait until about nine months after the tax sale. This will be the point at which owners that still haven’t paid their taxes are deciding to just let the property go. This will also allow for banks and other lien holders to pay off properties, leaving mostly properties without mortgages. If you’re going to buy back tax property, free and clear is the best kind!

2. Contact the owners. Most will have moved on at this point, and are letting the government have the property. You’ll also find many owners that never lived in the property – heirs, landlords, etc. These people are often trying to get a property they don’t want to maintain out of their hair the lazy way.

3. Ask them if they’d mind signing over their deed to you. Say you’d like to see if anything can be done with it before it goes to the government. Offer them $100, $200, whatever you think will get a “yes” for their time in signing over the deed.

4. You just learned how to buy back tax property for $500 or less, and you now own it. Either pay the property taxes off and keep the house or sell it for retail value. Or, if you truly only have $500 to your name, you can take your profits now by selling quickly to another investor for well below market value, and still walk away with thousands in profit.

If you buy back tax property this way, it’s almost risk-free. If anything goes wrong with the deal, you’re not out much money. You can always let the property go (without ever even recording your name on the deed)! And 99% of the time you’ll end up walking away thousands richer – all on an investment of a few hundred dollars.

The current foreclosure rate won’t last forever – take advantage of it now.

This entry was posted in Uncategorized and tagged , . Bookmark the permalink.