How Do You Buy Cheap Government Foreclosure Tax Lien Homes?
Government foreclosure tax lien homes are for sale because their taxes have not been paid. Investors and home buyers can step in, pay the taxes and buy the property. Keep in mind that the owner often has a chance to reclaim the property if able to pay the back taxes during what is called the redemption period. If your goal is to purchase a property at a good price you can find an excellent deal in the foreclosure market. However, you must do your research, pay a reasonable price for the property, know the laws in the area of purchase and have the funds to complete the transaction. Obtain financing if you do not have the full purchase in cash set aside. Contact mortgage brokers in your local area and tell them you would like to buy a tax lien foreclosure and get pre-qualified for a loan. Provide the mortgage broker with a list of your savings and checking accounts, addresses for the past five years and employment history for the past two years. Allow the mortgage professional to access