Success in Texas Tax &/or Foreclosures Sales?

Question

Having worked at a Title Company for the past several years as a Title examiner, I've seen a lot of the ups and downs when it comes to Sheriff's/Constable's Tax Sales, & Foreclosure Sales in Texas. In short, I was wondering to see if anyone has any recent success stories, or tips that they might want to share? Also, what type of sale was it, Foreclosure, Tax Sale, Resale, or Struck off? Thanks BP readers.

Curtis Roddy · Answer

David,

I would suggest checking out Foreclosure Listing Service. They publish lists every month with properties that have been posted for foreclosure, as well as the results of the auction. In addition they also offer training courses in all sorts of foreclosure categories. Let me know if you need any help.

Curtis Roddy

Roddy Partners, LLC

Dallas, TX

Account Closed · Answer

In the last few years, my family has bought several properties at tax auctions as part of an assemblage we have been working on.  It went smooth enough.

There a not as many good deals at foreclosure auctions around here right now.

In some of the smaller counties in our area you can get some good resale deals sometimes.

James Pearson · Answer

The Texas forclosure market sucks.  Wells Fargo and Citi Bank have a huge market share of mortgages and really suck at selling their forclosed homes.  They pretty much have cut out the investor takeover of these properties.  They sit on their books for months.  The HUD forclosures are even worse.  I just looked at one that needed 70K worth of work, ARV would be slightly north of 210K and asking 155K.  These homes sit for a long time.  Its becoming toxic.

Steve Babiak · Answer

@Rich Weese was doing this in TX a few years ago and he has a number of posts about it that you can find in this next thread:

https://www.biggerpockets.com/forums/41/topics/689...

Gary Ytreeide · Answer

I used to go to the courthouse when they have tax sales but never did find a good deal.  What looked like a good deal initially usually got bid up to the point where it was questionable.  I know your looking for success stories but I will be surprised if there are very many.

Success in Texas Tax &/or Foreclosures Sales?

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