In what states can I go pay back taxes on property and obtain ownership of that property?
Answers: According to the source below, tax liens or tax deeds are sold in 35 states. I'd suggest that you choose the states that you are interested in, and do a web search using a search engine to find out what the rules are in those particular states.
I got good results using words like "property tax lien"
Good luck.
It is not as easy as it sounds. I've done it before but the competition is very tough in some states. I invested in Arizona (live in California) and got out of it because there was so much competition and it took a lot of time and money to research the properties since I was out of state.
In tax lien states, you pay their back taxes but the owners usually have three years to pay their taxes. In this case, you only get the interest minus fees. The interest rate varies from 5% - 25%. I have lost money on some properties because the owners paid their taxes before it accrued enough interest. With a $20 fee I didn't make enough interest to cover it. I was never able to get a property from doing this. If you do get the property then you have to go thru a lot of paperwork to still get the property in your name.
My cousin does this and has gotten some properties from doing this. He has also gotten screwed because he didn't researched some properties so make sure you do the research. He got some property that he couldn't sell or build on. Make sure any vacant land does not have any hazardous waste that you will need to clean up. It can be very expensive. Some people get out of cleaning up their property by getting rid of it this way.
Good Luck!
When a house is "ridge owned", how much room is near for negotiation?
I have found a house slightly out of my price extent, but it is bank owned and individual sold as-is. Is it worth trying to negotiate the price to get it closer to my price capacity or are banks usually pretty strict next to it?Thanks
Answers: There is often room for negotiation, but it is commonly no more than one would find in a conventional purchase. Lenders try to NOT overprice owned properties, because they want them gone as soon as is practicable.
Do be aware that you are buying such a property 'as is'. You clearly will be allowed to have an inspection, but do not expect the lender to cough up for any repairs. If an inspection turns up expensive repairs, you are advise to submit estimates for such repairs along with pictures validate the conditions which require remedy. When selling prices are set on such properties, lenders are not aware of the full condition of the property, and price it as if it were surrounded by good condition, unless the conditions are understandable to the listing valid estate firm.
As well, if this is a trial listing, don't expect them to accord with you without beating about the bush. A low ball submission will invariably be rejected on a new list until it has sit on the market for a couple of months.
Don't be misled by some of the sooner responses. Since the foreclosure fiasco has hit home, lender loss mitigation departments are getting much tighter. A goodly loss on a FEW houses isn't going to hurt them, but next to the number of bank owned properties, they're watching their pennies much more closely.
Negotiate, negotiate, negotiate!
A hill owned house is a liability on the books of the sandbank, it's a bad surrounded by their records. They want it gone ASAP. They also requirement to reduce their loss as much as possible (higher selling price). If it's be on the market for a while, later you have a better karma of negotiating and getting the price you want and some/all closing costs compensated. Talk to your Realtor about it. If you don't enjoy one, get one! They protect your interests when you are dealing near a multi-billion dollar bank.
If you don't know what programs you might qualify for, email me.
There's profoundly of room for negotiation! Banks don't want to keep this asset on their books when it's not generate any income, and on the contrary it's sinking within value.
Make an propose that is 20% below what you muse it's worth. You might be surprised. Of course they'll tell you that there's no room to negotiate, but that's of late a negotiation tactic to get you to retribution more!
Right now, authentic estate, regardless of who owns it is very conveyable.
Always try to negotiate a lower price. The worst thing that can ensue is that the seller say "no." Who cares what the hawker thinks of you. You hold to watch out for your own best interests.
My sister make low offers on houses adjectives the time. Most of the time her offers are rejected, but sometimes she's competent to buy real estate at a extremely good price.
Good luck.
If you are really serious going on for this home then spend a few hundred dollars on a buyers home inspection. You should know how to negotiate the amount of any major repairs that are needed. Other than that, it really depends on the ridge. However, since the real estate flea market is currently declining, bank are more likely to work near solid offers.
Landlord/Estate Agent and Leaky Cellar?
What are my rights as a tennant in regard to a cellar which floods slightly when it rain?I ahve notified the estate agents who achievement on behalf of the landlord. They sent a contractor round who said it be the drain pipe full of leaves. Whilst I accept that this will enjoy contributed to the problem, I instructed the landlord that it be probably the covering of bin-liners and plastic bags over the underground store grate, and it needed a long term solution such as bricking over beside air bricks and a slab.
They said it be leaves in the gutter? What are my rights to have bricks put over the rented properties cellar grate to stop flooding? I hold since cleared all the leaves and put a cover over the grate. This problem have been here for YEARS in the past we moved in 2 months ago,surrounded by fact I told them to replace the fall-pipe wich thank goodness they did. I think that the estate agent are of late wanting to not spend money? anybody have any info or process of helping me please? Thanks.
Answers: My best guess. It's the landlord's property and if he's satisfied by the cause and it damages his property, that's his fault and you've done the right entry by informing him.
If your rent included the use of the cellar and you can't use the subterranean vault then you own a right to complain to get it fixed.
Certainly this can front to damp which is a robustness risk.
My best advice is to put your satchel to Shelter. If they agree with you and attain involved, you'll soon see things human being done.