June 19, 2024


Mad about real estate

Finding Government Tax Foreclosure For Sale Homes

Government tax foreclosure for sale homes draw the attention of many investors, these properties are often beautiful homes and very affordable. The reason why they are so affordable is that the Government has so many of them on their inventories, they are also responsible for paying taxes on these properties and in order to escape from this, they allow them to go on sale at prices whereby they will be purchased.

For anyone wanting to settle down in a new home, or purchase a vacation home, it is possible to purchase foreclosure sale homes. In fact in the US presently we are seeing more foreclosure properties being purchased than any other kind of real estate purchase. Investing money in Government tax foreclosures for sale is a way to make good returns on investment or find the dream home you have always wanted.

Using the services of a reliable listing company is one way of finding just the right foreclosure for sale home. These services have access to many resources that we as lay people do not have. It is also convenient as all you have to do is provide your budget and criteria to the listing service and they will short list the homes available on your behalf. This saves trips to the county courthouse and wading through thousands upon thousands of properties to find the right one. Government tax foreclosures for sale may also be found in real estate magazines and newspapers. This also applies to bank and other lender foreclosure sales.

Government tax foreclosure for sale homes have been taken back from the homeowner by the Government due to their failure to pay taxes. It is a sad fact of life, but we are all required to pay our due taxes to the Government. I say sad because no-one enjoys paying tax, but the consequences involved if we don’t are pretty horrendous. Just looking at how many Government tax foreclosures for sale homes are on the market is indicative of this. I can’t recall who said this but one famous quote says “there are only two certainties in this life, death and paying taxes”. This is very true!

Any foreclosures for sale should be inspected by a prospective investor, this is not easily done in the pre-foreclosure phase, but I wouldn’t advise anyone without experience to purchase during pre-foreclosure. This is a complex process, compounded by one difficulty after another. With properties that have already been foreclosed, generally all debts, liens and bonds over the property have been met and the property is ready to go.

Inspection of Government foreclosures for sale allows the investor to correctly formulate an offer to purchase. Items such as the repairs required, any outstanding debts etcetera have to be deducted from the asking price. This can mean some considerable savings for the investor who is handy with DIY, or resources to discounted home repairs. These items allow the investor to negotiate the asking price and land a safe investment deal.