State and Fedral real estate tax sales?

Question

I just wanted to ask, and see if anyone on this site has had any luck finding these and are they real?

I think we've all seen the commercials and heard the "quote" testimonials by the people who have done this type of home buyers program, but how much of this program is legitimate?

Answer 1

Program is legit but it requires you to have a lot of cash available at the time of purchase.

Answer 2

They are legitimate (unless the people doing the commercial are misrepresenting the facts).  

When someone has a backlog of taxes owed on a home, fines and penalties are accessed that can be far more than the original taxes, and pretty much make it impossible for the homeowner to catch up.

(Believe me, you don't ever want to owe back taxes to the government~you just don't want to go there~they can and will garnish your wages, freeze your accounts, etc. until they get what is due them.~My cousin in Denver, has been going through this for years.  In her case she didn't file taxes for several years.)

Back to the matter at hand, in these cases the home usually goes into a foreclosure process (and if you don't move out by the eviction date, your stuff will be out on the sidewalk.  If you don't get back to pick it up soon, the neighbors will be sifting through it until it's gone~this happened recently across the street from me).  

The bank that owns the deed will place it up for public auction, sell the home at a much reduced rate to get some money out of it for themselves, and to pay the back taxes, to get them out from under their responsibility.

Just do your homework, and make sure there aren't any major repairs that need to be done.  When a home is sold "as is", that's a huge red flag for a possible buyer.