A question about tax foreclosure homes?

Question

ok im not even sure if i quoted it right but does such a thing really exist? ive heard it on tv a few times and even my friends mother told me about this program. she said that if she couldnt pay the taxes on her home all someone would have to do to buy the house is pay the taxes and its theirs. now in my head that sounds about right. its already paid for and all the city needs is their tax, so why not? but is the process really that simple? where can i learn more about this type of thing? my immediate family is in the market for a new house so this would be like a goldmine. any help on this would be great. thanks

Answer 1

I found a great book to help you.  Its on Amazon.com, and only costs $16.47.  I was trying to find information for you online, but most internet sites charge upwards of $50 just for basic information on this topic, and then you get hit with all kinds of real estate spam as well.

Here is the link -

http://www.amazon.com/Complete-Guide-Est...

Answer 2

There are houses like that.  The local tax assessors office has the information on the ones in arrears.  You will be going against many others in bidding for the house in most cases.  They are normally sold by sealed bid on the steps of the local courthouse on certain dates, which are announced by public notice such as in the newspaper.  You will need a letter of credit etc from a lending institute and within so many hours be able to produce the cash or certified check.  Again, check with the tax office for a listing and exact rules.