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Property
Foreclosures and Property
Tax Liens
To know
where and how to buy foreclosure homes is a great skill.
You could find your dream home at a wholesale price, or
start a new career. It could also become an excellent
source for a retirement income.
| Most real estate schools offer
courses specializing in foreclosure buying and
there are also a great number of courses on-line.
You will find lots of on-line forums. Some of
them are useful, but most tend to be full of
so-called "regulars" with little hands
on knowledge and a lot of useless opinion. Amazon
and other bookstores are full of books on
foreclosure buying and there is also a lot of
hype about becoming an instant
millionaire through the purchase of
foreclosure properties. |
|
Is it possible? Well, if you are clever,
single minded, persistent, hardworking, methodical,
inquisitive, cautious and at the right place at the right
time, yes, it probably is!
There is no easy formula for how to buy foreclosure
homes. But there are a few different stages when you have
the opportunity to buy them:
- At
the pre foreclosure stage, when
the foreclosure has been initiated by the lender
(i.e. the borrower has been advised that
foreclosure proceedings have been initiated
against him/her and his/her property. There are
usually 30/60/90 days for the borrower to do
something about it, provided he/she finds the
funds to redeem the property). This is a good
time for a buyer, but beware, the borrower is at
this stage usually under severe stress or in
complete denial!
- The
next stage is to purchase at the auction.
Often, only the main lender appears at this
auction and you will have to bid against him.
When there are several lenders involved, the
largest lender often purchases the debts of the
smaller lenders (this is common, when the other
lenders tend to be banks or mortgage
institutions. But it is not common that banks
purchase private mortgages). The lender will
bid on the property, wipe out other lienholders,
then pay the balance of outstanding property
taxes to secure the property's clear title. The
lender, typically the senior lien holder, wipes
out all junior lien holders or judgments in the
process. Lenders do not go through the
effort and expense of foreclosing, only to lose
the property for a small amount in back taxes.
|
|
- Finally, you can buy a REO
(Real Estate
Owned) from the lender,
if the lender has acquired the property.
You
can learn everything about foreclosure purchases.
Real estate is generally a solid investment and a
means to build wealth. There is no real estate or
brokers license required to purchase or trade in
foreclosure properties. Though, if you want to
deal with VA and HUD properties, you will need a
licensed broker to present the offer.
|
Massive
Foreclosure Profits
(Click here to
get to site)
| Massive
Foreclosure Profits is a
step by step Guide to buying Foreclosure
Properties. It will show you how to track
properties through the entire foreclosure
process, not just part of the way and show you .
where the real money is hiding |
Jeffrey
Ringold
CEO of Massive Foreclosure
Profits shows you the three types of
foreclosed properties. Understanding what
they are and the differences between them may
skyrocket your income. You'll learn about all of
them. |
The
Costs
US$ 69.00 for the book |
The Ultimate Real
Estate System
(Click here to
get to site)
| The
Ultimate Real Estate System is
Robert Allen's system of purchasing Real Estate.
He is .the author of two of the largest selling
financial books in history; Nothing
Down and Creating
Wealth, both New York Times best
sellers -- read by millions of people in the past
20 years. |
Robert
Allen is a well known Real
Estate Buyer
who was challenged by Regis Philbin in New York
City to select a person from his studio audience.
He picked a young woman, flew her to San Diego to
attend my intensive investment program,
"Wealth Training". In less than ninety
days after her return to the "Big
Apple", she found and purchased a nice
duplex apartment building. |
The
Costs
US$ 39.99 for the book
and lots of bonuses |
The
Foreclosurewizard
(Click here to
get to site)
The
Foreclosurewizard
is a computer support system that
helps you keep your foreclosure buying organized.
It will save you a lot of money and duplicated
effort. We have used it and feel that it is an
excellent and well designed program that even the
"non-computer savvy"
client can use |
The
Entire Package Can Be Fully Downloaded
To Your Computer In A Flash! You can
start using Foreclosure Wizard in as little as 5
minutes from now. No waiting for shipping,
no waiting for days, even a couple of weeks to
get started.
|
The
Costs
US$ 97.00 for the
download and lots of bonuses |
How to buy
Foreclosures
(Click here to
get to site)
How
to Buy Foreclosures
is a complete course with all
worksheets. This is essential, especially when
you are new to the subject. If you get this
together with the Foreclosurewizard, you will
have a complete system. (This in itself is a
complete system, except that it is manual. But it
will give you a good understanding of all the
important points.) |
The
Package includes a lot of Exclusive
Examples for a first hand account of the
foreclosure process. It follow an actual mortgage
foreclosure from beginning to end. Every single
courthouse and legal document is reproduced.
|
The
Costs
US$ 39.95 for the
download and lots of bonuses
|
Reozone (Click here to get to site)
Reozone
REO is an acronym for Real
Estate Owned, which indicates that the
property has been foreclosed upon and is
currently on the market, or soon will be. The
properties found on Reozone have been collated
from around the United States, Puerto Rico, US
Virgin Islands and Guam. Reozone focuses on
locally owned banks and some of the largest
providers of secondary mortgage money in the
world.
|
Gain instant and unlimited access to everything you need:
 |
Thousands of
Properties in the Database |
|
Updated daily |
|
Some no money
down |
|
3 Day trial for
US$ 9.95 |
|
The Costs
US$ 78.95 for
one month, US$ 189.95 for six months
instant unlimited access to the database |
RealtyTrac - Real Estate Foreclosures (Click here to get to site)
RealtyTrac
Join for free and find a bargain
in your area. 500,000 properties which include
pre-foreclosures, NTO NTS, auctions, HUD, VA. The
monthly costs will sign you up to an excellent,
daily updated, database of properties. |
Gain instant and unlimited access to everything you need:
|
Free 7 Day Trial |
|
Daily e-mail
alerts and property updates |
|
current
foreclosure properties |
|
eBooks and
educational materials |
|
Network of
Foreclosure Specialists |
|
The Costs
US$ 29.95 per
month membership fee for instant
unlimited access to the database |
ForeclosureFreeSearch. (Click here to get to site)
Books on
Tax Liens and Real Estate
Procedures
on Tax Liens vary from State to State. Generally, in the
event a tax lien on personal property is not paid within
a specified time (and after several notices are generally
given), the property may be seized and sold at
foreclosure sale. On real property, one of two methods
may be used: either the property may be seized and sold (a
tax deed sale), or in some States the tax lien
may be offered to investors (in the form of a tax
lien certificate) with an accompanying right for
the investor, after a specified period of time, to
institute foreclosure proceedings (a tax lien
sale). If you want to know more about the
details and how you can invest into tax lien
certificates, there are numerous good books
available. The ones below, were the best books we found.
If you are seriously considering investing
into tax liens, then you should get an insight into tax
auctions and the implications of buying tax liens.
Bargain Homes (Click here to get to site)
Bargain Homes
You can save up to 50% on real
estate including Foreclosures, HUD homes, For
Sale by Owner, and much more. Home listings
updated daily to help you find the hottest deals.
Over 2 million users can't be wrong, so start
your search today! |
Gain instant and unlimited access to everything you need:
|
Over 250,000
homes nationwide |
|
Foreclosures, HUD
homes, and other distressed properties |
|
Free down payment
grants available |
|
Live experts on
hand |
|
The Costs
US$ 9.95 per
week, billed monthly for instant
unlimited access to the database |
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Foreclosurenet - Click For Foreclosures! (Click here to get to site)!
Foreclosurenet!
Get instant access to the most
accurate national database of bank foreclosures
and government foreclosed properties. Join today
and take advantage of this great offer!
|
Gain instant and unlimited access to everything you need:
|
Single Family
Homes, Condos, Town homes, Multi-Family
Units |
|
Rental &
Income Properties |
|
HUD, Office
Buildings, Commercial, Retail |
|
Industrial,
Agricultural and More! |
|
The Costs
US$ 19.95 per
month for instant unlimited access to
the database |
Books on
Foreclosures and Real Estate from Amazon
The key to making money in real estate is
finding motivated sellers. Financial difficulties of
property owners are often the single biggest motivator to
sell. From finding properties in foreclosure, to
negotiating with sellers in financial distress, to
reselling the properties, to realizing healthy profits
you can learn almost everything from these books.
Understanding the concepts involved in investing in
foreclosures such as finding a motivated seller,
structuring the deals, including how to buy with small
down payments, are key issues in being successful. How to
avoid costly contract pitfalls and how to hold on to
newly acquired properties and grow a portfolio for a
long-term equity build-up are all topics that will
interest the future Foreclosure Tycoons.
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