How to Find Tax Foreclosures
A tax foreclosure occurs when a property owner fails to pay taxes on his home or land and the IRS initiates foreclosure proceedings as a result. Tax foreclosures present a good opportunity for anyone interested in investing in real estate to break into the market. Some websites and commercials would have you believe that you must purchase listings of tax foreclosures in your area. This is not the case. The U.S. Department of Housing and Urban Development offers a full list of nationwide tax foreclosures for free.
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Instructions
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Visit the U.S. Department of Housing and Urban Development's website at hud.gov.
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Select "Topic Areas," which is located on the website's navigation bar at the top of the screen. When you move your mouse cursor over "Topic Areas," a list will appear.
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Scroll down the list and select "Homes For Sale."
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Select "From Internal Revenue Service" underneath the subheading "Single Family Homes for Sale."
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Type your city or state into the "Search" box. You will then receive a list of the tax foreclosures available in your area. You may also review the most recent tax foreclosure listings by scrolling down the front page.
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Tips & Warnings
Clicking on a tax foreclosure listing will give you more information about it such as the date of the auction, the minimum bid required, and the types of payment methods that will be accepted.
Take care to purchase only tax deeds rather than tax liens. When you purchase a tax deed, you are purchasing the actual property. When you purchase a tax lien, you are only purchasing the right to collect the debt, not the property itself.
