How do I find a house that has back taxes owed on it, to buy it? What are the guidelines on doing that? I live in Enid, OK.
I know someone who lost their land (over 150 acres and their house) to back taxes. The new people that bought it did so by going to a tax sale auction. Each county has them. Call your local county tax auditor. Homes don't go for only $100 like they advertise on TV, but they do go fairly cheaply. The one I described above went for $80,000 back in the early 90's and probably double that today. This was in a remote part of the state and the house was home-built from unpainted plywood and falling apart.
The cool surprise for the guy who bought the place was that it had a whole machine shop in the basement with lots of huge machining tools. The house was originally owned by an 86 year old inventor (he was born in 1899). He was a very cool guy, but left the land to his daughter, who failed to pay the taxes. (05/27/2008)
Someone has to pay the back taxes and that is the person who buys the property. Properties that are to be foreclosed are listed in the newspapers. Or locate a bank that has these properties on their books or consult with attorneys that do this type of work. Any attorney could direct you to one. (05/28/2008)
Try the HUD website, or google the website for your county and look for the properties scheduled for sheriff's sale. You can look up the property at your county courthouse, and see what taxes and leins are owed against the property. Some of the time the banks that carry the primary mortgages buy them back at the sheriff's sale and sell them through a realtor, that's another way to get a great deal. (06/01/2008)
The best bet is the county courthouse. You can even go online in larger counties to find out which homes have taxes owed. The county is also required to make an announcement in the newspaper giving the plat location, type of property and other details. (06/04/2008)
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