Tax Delinquent Property "Farming"
There are hundreds, thousands, or even tens of thousands of tax delinquent property deals to be had in every county in the United States at any given time.
Each and every tax delinquent property has a story.
Maybe the owner is just a little late and will catch up.
But a significant number of tax delinquent property owners will find the need to sell at some point in the tax sale process, and you'll discover exactly how to pinpoint the most likely owner to be motiviated to sell to you - often for peanuts.
Here's where you'll find a TON of "don't-wanters" - and many of these properties have no mortgage.
Why?
As time passes, banks pay off delinquent taxes on properties with mortgages. The properties that remain as the county gets ready to have their tax sale auction, usually have no mortgage.
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"How to 'Farm' Tax Delinquent Property"-Get a list of ALL tax-delinquent property for your county in electronic (spreadsheet) format from your county.
-This list may even be online free -Sort out 'worthless' properties, corporate owned, consolidate owners with multiple properties, etc -Market to tax delinquent property owners, especially out-of-state absentees -Collect your returned mail and track down missing owners -Make offers and quickly flip to cash buyers |
That's the beauty of having some cash buyers - the ultimate test of a property's value is what someone is willing to pay. If there are no takers on a tax delinquent property deal you're trying to put together, just walk!
Looking to buy deeds and tax liens.
yes, i want to buy deeds and tax liens
Andre Silva
Start by getting the free insider's guide to your right, and get the basics right there!
Is there any "mailing" service that you know of that we take our list and provide us with the names that are "undeliverable" without actually having to mail the postcards and waiting the time for them to come back?
Try melissadata.com
hello mr.dawson my question is in this proccess to aquire the deed what happens when you buy the deed for the small sums you said as little as 10.00 and then the sale once it has beem sighned over dont you stil owe the bank the morgage to the bank yet to pay how does this factor into the equasion
You are assuming that every property has a mortgage. In fact, by the time the tax sale deadline nears most of the properties that remain don't have mortgages. This is because if they had a mortgage, the bank would have paid the taxes by now to preserve their interest, and the property would have dropped off the list. Of course mortgaged properties can and do slip through the cracks so you must be sure to get a title report. Also if you're tax delinquent "farming", a higher percentage of properties will have mortgages since there is plenty of time to redeem in most cases. Start by asking the owner if there is a mortgage on the property - most of the time you'll get the truth. If they claim the property is free and clear THEN get a title report to confirm. If the property has a mortgage and but it is small, you could pay off the mortgage when you resell.