How to Buy Land That Is in Bankruptcy Court & Back Taxes

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Buying land that is in bankruptcy court and back taxes can be done by visiting the courthouse, researching pending problems and going through lots of legal paperwork to re-title the land into your portfolio. Purchase land that is in foreclosure with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management & Credit
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Video Transcript

This is financial adviser Patrick Munro and one of the ways to acquire wealth is to acquire real estate. Many times land is in foreclosure and that's due to back taxes and things of that nature. And a progressive individual can go down to the courthouse and see what the pending problems are in their county as far as land availability goes. If you find that you can bring taxes back into line by paying them to the county and paying them a small price to take control of the the land away from the county that is a good move on your part because then you can re-title the land into your portfolio. That being said, there is a lot of legal paperwork and time that goes into such research and you also have to be mindful that there can be some other liens put upon that land by creditors against the prior owner. So many people who are investors have acquired land using this process and then after closing found out that they had existing liens upon the land that they can no longer discharge because they've taken ownership of the problems of the previous owner. This is not for the faint of heart. You have to be aware that it's a high risk game but the rewards can be equally high. This is Patrick Munro talking about how to acquire land through bankruptcy and back taxes.


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