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…
Author: James Murphy
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…
Freddie Mac Foreclosures are homes that have been foreclosed upon by the government institution, Freddie Mac. Like Fannie Mae, Freddie Mac is also a government sponsored entity (GSE) that was formed to expand the secondary market for mortgages and free up the funds available to lenders so that they could extend additional mortgages. Freddie Mac was created so that Fannie Mae would have competition selling mortgage-backed securities to investors. Bottom line, what this means to real estate investors is that when Freddie Mac forecloses on a home and lists it for sale, it has the same potential to be sold…
Looking for a free list of foreclosure properties? Ironically, these lists are free if you know where to look! Below is a list of choices you can choose between in order to organize your list. The determining factor will be the amount of effort you wish to spend. Services – There are many services that, for a monthly fee will send you the listings and others that will provide them for free if you register for their services. If you are looking for a free list of foreclosure properties, this is primarily where they are located! Lender Databases- There are…
Funding a purchase at a Tax Sale or Tax Auction is one of the biggest OBSTACLES for most purchasers! You already know that purchasing at these sales can be a money making bargain, but if you do not have the cash, should you walk away? Not necessarily! Although locating the cash for a purchase is difficult in the present economy, it is not impossible. As discussed in the Fundamentals all properties purchased at a tax sale must be paid for – IN CASH (or equivalent) – in full – on the day of the purchase, and usually at the actual…
Galveston holds the Galveston Sheriff Auction each month on the first Tuesday of the month. Like all Houston Sheriff Auctions, it can be large and overwhelming, so it is advised that you go and watch a sale before actually participating in one. This section will give you specific information needed to navigate this sale including where to find the tax sale list. Who Conducts the Sale? Sheriff Property List – Found on the county website (Website) Newspaper – Galveston Daily News Commonly Asked Questions – Galveston Commonly Asked Questions Property Search / Appraisal District – GCAD Location of Sale – Galveston County Courthouse, 722 Moody Avenue…
Texas Hard Money Lenders are often a last resort for a new investor, one with bad credit or one who simply does not have the liquidity to invest in all cash. What are Texas Hard Money Lenders? These lenders are typically individuals as opposed to lending institutions that have extra capital to invest. Instead of investing in traditional investments, they choose to lend their money to others at higher than usual interest rates. Their rates will vary greatly from lender to lender, but can range anywhere from twice the going rate to four times the going rate because their rates…
Eviction after Foreclosure is one of the most dreaded steps of the purchase process for any type of foreclosure. A tax attorney may be needed if your case gets complicated, but a simple eviction after a Sheriff Auction purchase should not require a tax attorney. No one wants to ruthlessly throw a person, or worse, a family, into the streets. However, when you buy a property from a Sheriff’s sale, you are buying a home where the previous owner could not pay taxes for many years. Taxes were a small percentage of his mortgage. If he could not pay his…
IPhone Apps are becoming more and more common as tools for Investors in today’s Foreclosure Home Business. Finding the best tools is challenging because the app market is constantly changing! This page is dedicated to readers submitting and rating their favorite investment apps. The first apps submitted are the most popular today, but as readers find new and exciting apps, please “pay it forward” and submit them! Using an app that is already listed? Tell us about it and rate it! There are five primary Apps that I find essential for real estate investors. For locating Comparables (and while evaluating…
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…