texas tax sales 4 posts by 4 users

Posted: 06/04/2008 at 10:21PM

does anyone know anything about texas tax sales? how can i purchase a tax sale property from an auction? how would i pay for the property? what would be the best way to finance a tax sale property if i were to purchase it as an investment for rental.

Posted: 06/22/2008 at 07:17PM

Greetings Invstr,

Texas is an excellent state to to buy/purchase Tax-Sale Properties. There are well over 254 Counties, plus its' taxing jurisdictions where tax sale properties can be purchased.

Like in every state, you want to familiarize yourself with the rules first. Also, know that you can also earn lots of interest on your money. Unless, the property is homestead, usually the redemption period is 6-Months. Most are conducted by the Sheriff (e.g., Sheriff Tax Deed Sales). Other sales may be contracted out to a 3rd-Party.

Like in GA, all Tax Sales are held on the 1st Tuesday of the Month, but there are also opportunities to buy properties that have been previously offered at Tax Sale (which did not sell), either due to a lack of interest in the property or a shortage of bidders (which is rare but it does happen).

I always like to encourage Investors to attend a sale or two first to get a feel for the environment, and to get a better understanding as to how the Auction takes place.

Your questions: Yes, you can purchase at Auctions/Sales. Each County publishes guidelines on how or type of payment is accepted, the best way to finance Tax Sale properties is relatively a mute point. Now, you can get a bit creative with regards to financing. For example, you can get a Line-of-Credit and perhaps try that approach, or use your Self-Directed IRA, or just finance it with PURE CASH which can be money from your own personal sources.

I hope this helps you and answers your questions. Contact me for any further questions either " PM" me or reply here.

Best Regards, and Much Success As You Invest!
MoneyMakers,