gregorygarver.com

[JohnH]

There are a number for programs that talk about buying house for $.10-.15 on the $1, but they don't address the negative aspects of this type of real estate transaction. What are the pitfalls and why don't more people do this? I'm assuming there are more legal issues but would like to talk with people that do this. Feel free to email me to talk more in depth.

[wizjp7494]

For starters, it doesn't mean the house will be yours. It means that your right to own is a lien that may be behind federal tax liens, state tax liens, owner's association dues, special assessments. YOu may also have to deal with owner's rights to redeem , property actually in foreclosure or possession of an estate.Not without a good title examiner and real estat atty,

[IanS]

The only US State I'm aware of where this is a viable practice is Texas. Even there, the owner can get their house back if they pay back the lien within a certain time period. You have to have the cash to do it, and be confident you're getting a good deal particularly as the resident owners aren't exactly going to invite someone in to inspect the place.

[thomasm]

i have purchased tax lien property in past, not in hopes to own house for small amount( this rarely happens, most states allows a certain # of months for taxes to become current and then you must give back property) I focus on buying the tax lien as a investment itself, in many states you will recieve 18% or more on your money. If you get the house that great, dont count on it though, all states have different laws get current on your state laws. most of the time there is someone in front of you who has wrights on ownership before you. At the very least in Connecticut were i live i will recieve 18% on the money owed back to me from tax lien.tom