#1 Some counties are painfully slow at foreclosing in some cases. Seems like especially the big ones...Dallas, Harris, Bexar, Travis.
#2 You are right, I believe after age 65 they won't foreclose on homestead properties. Just saw one in a sale last month that had not paid for 20 years. Now the taxes owed are probably close to 2x what the house was worth. So pretty much impossible to buy at the auction.
Texas Property Tax Code, Section 33.06, allows a person who has a 65 years of age or older residence homestead exemption or who has a disability residence homestead exemption from the Appraisal District (CAD) to defer the collection of the property taxes owed on their residence homestead.
#3 Probably makes more sense to target the people who are 2-3 years behind on taxes vs 8-9 years.
#4 No certificates in Texas that I know about....they either go to sale or they don't. There are companies like Genesis that do tax loans and become 1st position super lien holders. Not sure where you would go to find information on becoming that lender, but perhaps you could go to work for one.
#5 You are right...no or low motivation to sell. I think some use it as a strategy. There have been complaints I know in Dallas county of millionaires not paying the taxes. They'll get paid one day maybe.
Thanks for the info. That provides a lot of insight as I move forward. A follow up question I have is I'm seeing various people on my last has delinquent taxes on properties from 5+ years ago but nothing owed or paid since let's say 2012. I search the address and it looks like it has changed ownership at that point. If the property has been sold, how have the taxes not been paid and what happens at that point once the taxes aren't paid and the previous owner no longer has the property?
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing