All Forum Posts by: Arnie Abramson

Are any of you considering tax deeds as well?

You can sell it since you are now the owner but you must disclose as many of the caveats as you can-for example you could sell it without a title policy but that would limit the number of buyers.  In Texas as you may know, regardless of the redemption period most tile companies want 2 -  5 years before they will insure.  However, we have buyers that would consider buying prior to that as they know how to check for any title issues-most of which have been wiped out by the sale-except, primarily for government liens.  Feel free to contact me if you have other questions.

In Texas, you are the owner after you buy it at the auction.  We go to the house and change the locks.

The tax foreclosures are the first Tuesday of every month (unless on July 4 or January 1 then the next day).  Some counties have sales every month most do not.  Email me and I can forward to you a website with info or where to get an intro to tax sales in Texas at no charge.

Thor is correct.  Primarily the reason is the 2 year period that claimants can contest the sale if they can prove they were not notified and given the opportunity to pay the back taxes. The title companies apparently do not want to take that risk although it is rarely contested.  Texas Tax Sales has a way of getting a title policy earlier I am told.

The tax sale auctions are very competitive in all the metro areas in Texas.  The values seem to be in the smaller areas.  For full listings for the whole state check our www.txtaxsales.com.  Questions answered about Texas tax sales at no charge.

NO

I see you are in Texas as am I.  Here, the IRS can redeem for 6% as opposed to 25% for others who have the right of redemption. Yes, they have 120 days in which to do so while others who have the right to redeem (for 25% per year) have either 180 days or 2 years.  The mortgages and other liens are extinguished.

You might want to look at Texas.  You buy the properties at the auction and if they redeem they must pay you your cost plus 25% per year.  Take a look at www.txtaxsales.com

What state is the property in?  In Texas, the insurance premiums are repaid with the 25% penalty if it is redeemed.