Wholesaler · Big Spring, TX · Member since 2016 · 1 post · 0 votes
A question I have is, how should I get started rolling? Anyone here know how to buy tax lien properties without going through the county and buy strait from the owner, and also how do u get their info?Is there a website to go too?
With tax liens and deeds why would you not buy from the county? I can't recall if Texas is a deed or lien state but if you purchase that certificate from the county the owner has to pay you back plus i believe in Texas 20% and if they don't you have the right to foreclose on the property and its yours. Now if you buy from the owner you have to pay them for the house and the lien thats on the property at closing. Most lien and deed info are on the county's website (Kentucky is the county clerk's office) or you can find it in the newspaper at certain times in the year.
@Dwayne Trojan I don't think that you would want to go that route, at least not to start with. The tax lien/deed process puts the winner of the auction with a superior lien to all others and wipes out the mortgage. So if you go around that process and try to beat the others to the finish line, you might be purchasing a mess if you don't do the proper research. Attend a tax deed auction in TX and see how it rolls. Then address others in this forum with any questions you might have.
In answer to your other question, you should be able to find out from the county tax assessors office the list of property owners that will be in the auction. Then you should be able to go back into the county site and research exactly what you are bidding on.
Where are you looking to invest? Texas is a Deed state meaning the county files for a judgement on the property for the taxes and then auctions the property at a Sheriff's sale. The properties to be auctioned must be published at least 3 weeks prior to the sale. The county will also post that list at the courthouse. You can search for the owner's and make contact with them to see if you can close a deal before the auction. This strategy may work better in lien states where there is a longer time between the notice and the time an actual sale takes place.