How to Find Tax Foreclosure Properties
RealtyTrac reported that there were 2.8 million foreclosures in 2009 in the United States. These foreclosures are the result of delinquent mortgages or unpaid taxes. If a property owner defaults on his taxes, then the government will place a tax lien on his real estate and seize his property. A tax lien can occur within the federal, state, or county government levels. Once a property is in tax foreclosure status, it is listed for public sale at below market prices.
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Instructions
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Search the Internet for tax foreclosures. There are many websites that list tax foreclosures such as ForeclosureListings, RealtyTrac, and Foreclosure. These websites allow you to conduct a search based on the city and state of your choice. Federal tax foreclosures are listed on The Department of Treasury Internal Revenue Service website. This website lists the property address of tax foreclosures, auction sale date and location, a description of the property, and the minimum acceptable bid amount. When searching for tax foreclosures, you should understand the two types--tax lien and tax deed. A tax lien is also called a tax certificate and the purchaser does not actually purchase the deed to the property, but instead is given the first lien on the property. With a tax deed, the purchaser buys the deed and acquires full ownership to the property.
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Visit the county treasurer department. The county treasurer department keeps a record of all city and state real estate taxes owed on a property. If the property is foreclosed due to delinquent taxes, then the county will conduct a tax sale at a public auction. The treasurer's department will notify the public of the date and time of the auction either on its website or have the information available at its office. Call the treasurer's office to request a fax of the county's tax foreclosure property list or go to the office. Many counties have a website that lists tax foreclosures and instructions for bidding on these properties.
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Contact a real estate agent and ask for a printout from the MLS of tax foreclosure properties. Some tax foreclosures are listed by licensed real estate agents and can be found in the multiple listing service (MLS). The MLS is a real estate database of properties that are for sale. Most agents will provide you with this list free of charge. If you are interested in purchasing one of these tax foreclosures, a real estate agent can schedule a tour of the property, help you to complete the necessary paperwork and place a bid.
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