A Short Sale is simply a sale of a property before foreclosure for LESS that the owner owes on a mortgage. In today’s economy, many home owners find themselves owing more money than a house is actually worth. If a homeowner finds them self unable to pay their mortgage for whatever reason (loss of job, divorce, etc.), it is difficult to know what to do. A sale of the house under normal circumstances is not possible because no one is going to pay more than the fair value of the home. This is the point at which this type of…
Author: James Murphy
Texas Sheriff Sale Resources fall primarily into three categories – Books, Courses and Professional Advice (attorneys). Books – The market is flooded with books on real estate investing and to a lesser degree on Sheriff Sales. If you want information on a subject, all you have to do is look. Finding specifically Sheriff Sale Resources in the way of books is not as easy. The problem is that getting information does not necessarily mean getting ACCURATE information. Anyone can write and self-publish a book and there is no governing body to guarantee accuracy! To make this even more challenging, accurate information for one…
Chapter 34.01 of the Property Tax Code describes the Sheriff Sale Process. A Sheriff Auction, Sheriff Sale, Tax Sale and Tax Auction are all the same think. This process is followed in all counties in the state of Texas. They are an excellent starting place in understanding the Property Tax Foreclosure Sale process! These guidelines are found in the Property Tax Code, Chapeter 34, Section 1 . The following is a very GENERALIZED summary of the Sheriff Tax Sales process provided by the property tax code as it relates to a buyer. Disclaimer: I am not an attorney. If you feel…
Realtors specializing in foreclosure can make all the difference in finding profitable investment. Several Real estate firms specialize specifically in foreclosure, but individual agents of firms also specialize. This page is intended as a resource for investors looking for the best foreclosure realtors in their county. This is a free listing service and the ratings and the listings are populated by my visitors! If you have someone you wish to add please do so! Know a great realtor specializing in foreclosures? If you are a realtor specializing in foreclosure properties or know a realtor specializing in foreclosure properties, we want…
Real Estate records are publicly available records of the taxable value of a property. These records are the records used to determine how much tax is charged each homeowner on any given year based on the market value assessment determined by the city and they are very valuable in assessing an initial value for tax foreclosure property. Market valuations of properties are updated on a given schedule, usually every three years. The accuracy of market valuations for any given property varies according to county and to neighborhood, but these values provide a great starting point in determining the value of…
Accurate Real Estate Comparables (or property comparables) for tax foreclosure properties are critical to smart buying as there is no “market list price” when you go to purchase at the auction! You may have gone through the process of locating your property tax foreclosures on the tax sale list, mapping your properties, and know what the properties are valued at in the Appraisal District’s Website, but how do you know the true value of the properties? I find consulting a variety of resources is the most effective method to define Real Estate Comparables. Real Estate Based Websites Zillow Trulia Realtor.com…
A physical Property Evaluation is perhaps the most critical part of evaluating the value of a property. A property evaluation is simply a physical visit to the location to make observations and take notes so that you can later apply this observation so your overall valuation of the property. Taking a checklist with you when you visit can help insure that details are not missed. It is very easy to convince yourself that you will remember all the details of what you see and that you will be able to distinguish which attributes that you saw in which properties. In…
Filing a property deed is the first step to eliminating the redemption period! Every county has a different procedure for filing a deed after a Sheriff Sale, but it is critical that you find out exactly what procedure your county uses. Why? Because no matter WHO is responsible for filing the deed, the redemption period clock does not start ticking until the deed is filed by the county clerk in the property office. If you forget to file the deed, even though you have clear proof when the property was purchased, you STILL will not be able to enforce a…
Finding a Mortgage Title Company experienced in tax sale properties is crucial to being able to close the sale! Once you finally get the sale, there is nothing more frustrating than having closing problems because the Title Company simply is not experienced in closing Tax Foreclosures. This happens more often than you would think! Remember, the Seller selects the Mortgage Title Company. Typically, a realtor will already have a relationship with a Title company and will automatically choose to use them, but in the case of a Tax Deed Property, the seller needs to specify the Title Company, and they…
The Montgomery Sheriff Auction is one of eight major Sheriff Sales held in Houston. It is held once a month on the first Tuesday of each month. They only use three law firms to represent their properties in Montgomery, so although I will list where the properties will be advertised (done so by law), consulting the law firm websites will give you a complete tax sale list of potential properties. Montgomery Sheriff Auction Information Phone Number – (936) 539-7854 or Sheriff’s Office (281) 364-4200 Who Conducts the Sale? – Constable Property List – Newspaper Ads Newspaper – The Courier and The Montgomery County News…