Tax Delinquent sales
My husband and I are looking at Tax Delinquent properties to buy at auction this November. From what I understand, you bid on the deliquent tax and pay it, then the owner has a year to pay that tax. If they dont at the end of that year, whoever paid off the tax gets the deed to said house. Or at least that's how it was explained to me by our county representative.
Has anyone done this? It seems too good to be true. I have found the list for our county and some people only owe $100-$500 dollars. Can I then turn around and sell it at market price?
Looking for advice from someone who has experience in doing this.
Also on other forums talking about this, they said to send out mailers beforehand. Why would you want to do that? At auction wouldn't it be so much less, since it's being sold for only what taxes they owe?
