- Do you know that back taxes can exceed a homes potential value. You can run into all kinds of issues(example)- Zoning restrictions can prevent development for profit.
- Previous owner may retain rights under state law to reclaim property.(Result) Unclear title, which makes property hard to sell.
- Always avoid neighborhoods that are in a deteriorating state.
- Investigate with discretion to avoid alerting competitive bidders.
Tip: Vacant land in a undeveloped area is great for property build up.
Property list can be found at you state and local county tax collector office. They sometimes have mailing list for home delivery and or online.
My favorite place to look for land that is immediately up for grabs is you (Secretary Of States Office Web Site).
Here's what you'll find at one of these free government auctions:
1. All makes and models of vehicles. You will find cars, trucks, SUV, RVs, and motorcycles at well below market value. Many of these vehicles are less then a year old and are in excellent condition. Most of the seized vehicles are a result of law enforcement arrests and prosecutions which means in many cases they are high end vehicles. Being able to score a luxury sedan, sports car, or tricked out SUV for less then Blue Book value is one of the big draws of these auctions.
2. All types of real estate that includes single family homes, luxury vacation homes, and businesses with all the equipment, commercial property, and undeveloped land. For those who are looking to use real estate as an investment tool a government property auction can be a great place to start.
Participating online is also an option in the Internet age. The Internet auction sites provide updated listings of when and where these auctions are taking place along with updated listings of all the items that can be bid on. This gives you the chance to do the necessary research before hand which can help you decide what things are worth and what type of bid package you are comfortable with.
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