Rental Property Investor · Stafford, TX · Member since 2013 · 28 posts · 1 vote
Hi,
I am interested to know more about tax sales in Houston.
I know as much as Harris county tax sales website and its designated firms that handle the transactions.
But how is the process? Do's dont's? What to look for? Local/state rule? How often list of properties is updated? Additional due diligence beside driving by the property? How to check property history/lien?
Is there anyone here who has purchase property in Houston through tax sales? Could you please offer some advice?
Investor · Houston, TX · Member since 2014 · 116 posts · 41 votes
11y
I recommend you go to the next auction (Feb 3, 2015) and just watch. It can be very intense and you'll definitely want to just watch the first time to get a feel for it.
The trustees and private auctions happen on the north side of the building, the tax sales are on the west side, south side, and interior of the building.
When you are ready to buy one, you must do all your work ahead of time and have a FINAL price in mind before the auction begins. You have to treat this like gambling in Vegas... you have a limit and you won't cross it no matter what.
Investor · Houston, TX · Member since 2014 · 116 posts · 41 votes
11y
I recommend you go to the next auction (Feb 3, 2015) and just watch. It can be very intense and you'll definitely want to just watch the first time to get a feel for it.
The trustees and private auctions happen on the north side of the building, the tax sales are on the west side, south side, and interior of the building.
When you are ready to buy one, you must do all your work ahead of time and have a FINAL price in mind before the auction begins. You have to treat this like gambling in Vegas... you have a limit and you won't cross it no matter what.
San Luis Obispo, CA · Member since 2012 · 94 posts · 23 votes
11y
We work with many investors buying at the Texas County auctions. They occur on the 1st Tuesday of every month. If this is something you are serious about, I would consider reviewing the list. Pick a couple of properties that you're interested in. Go drive by and visit the homes to get as much intel on the properties as possible.
Then run a title search on 1 or 2 of them to see what the title looks like. Then take all of that information and attend the auction. Don't participate but watch to see what the process is and what those properties actually went for.
We do offer a free title search on our site for a property coming to foreclosure auction (normally a property off of auction.com). This allows you to see what issues might be on title and what they property ultimately sells for. If you're interested, here's a link: http://www.titlesearch.com/foreclosure-auction-res...
It's at the bottom of the page. Now that search won't be on one of your properties in Texas but it will provide good training opportunity for you. Good luck!
Thanks for the insight. Your website provide useful tips and alert with foreclosure properties.
Now, correct me if i am wrong. I heard they are title records that can only be obtained by going to local court, is this true? If yes, how does your company handle it since you operate in CA?
San Luis Obispo, CA · Member since 2012 · 94 posts · 23 votes
11y
Great questions. Yes there are many counties where the records are not available online. Most counties in fact. In those cases you'll need to physically go to the various records rooms that constitute the land records in that area (it varies from County to County how many records rooms you'll need to visit).
As for our firm, we are headquartered in California but we have a research team that covers all 3,611 recording venues in the USA. So there are people in the field pulling the docs right now all over the country.