What is a TAX FORECLOSURE SALE?
Real Estate Expert Wesley Barney explains how a tax foreclosure sale works ...
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Real Estate Expert Wesley Barney explains how a tax foreclosure sale works and who and what is involved.
What is a tax foreclosure sale? Well a tax foreclosure sale starts when the property owner fails to pay their real estate taxes. And then the county will place a lien on their property. The county could be the county treasurer, municipalities or the revenue collector. They will place a lien on a property for non-payment of real estate tax.
Now the next step is they will have a public auction where the highest bidder will get that property for all cash and extinguish the homeowner from that property. You can pick these properties up for $3,000, $4,000 even $5,000 and they can be worth 60, 70 to even $80,000. For more information go to my website at wbultimateinvestors.net.