Tax Forclosures. Too good to be true?

Question

Ok this is getting ridiculous. I saw on an infomercial a method of acquiring a house by paying the tax only. The guy says there are houses which the bank is so desperate to sell off that they are charging only the tax. PERIOD! People were giving testimonies that they bought a house for only, like 373 dollars! And that actually even paid off the house. Is this for real or is it one of the biggest scams ever? If it were real wouldn't everyone be doing it?

Answer 1

It's a whole lot of work find a house foreclosure to buy. Most every time I've looked the taxes have really piled up before it got to the courthouse steps auction.

It's like every thing else. Much more work than they are telling you about.

Also be careful that you are not buying some kind of liability like some one has dumped chemicals on the property or something.

Answer 2

the one thing you must keep in mind.. Yes it is possible to obtain a house like this, but the owner of the house has several years to come back pay the taxes and take the house back.  I would say for only 373 dollars that owner would likely pay the taxes and take the house very soon....