Can you buy government tax foreclosures from $200 and up on homes?

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Does anyone know anything about buying government tax foreclosures on homes from $ 200 and up? I have seen things about it on television and I was just wondering if it was true.

4 Comments
  1. Reply
    acermill
    November 10, 2011 at 7:49 am

    You have a better chance of observing a herd of cattle running down a runway at LaGuardia Airport and becoming airborne than you do of buying such properties for that sort of price. In those instances where sales occur for such low prices, you generally take the property along with other liens, such as mortgages, attached to the property.

    Don’t fall for it. You’re not going to get real estate properties for $ 200.

  2. Reply
    Dawni Do Right
    November 10, 2011 at 8:15 am

    Good one Acer…

    If you read the VERY SMALL print at the bottom of the screen, it says something to the effect of “Unusual circumstances. Individual results may vary”.

  3. Reply
    AJ
    November 10, 2011 at 8:44 am

    That might have been the case 25 years ago and with that came you being responsible for the liens and you probably bought it as is without an inspection.

    Now days, things like that just don’t happen. The government, state, county, etc, is going to sell tax foreclosures at fair market value.

  4. Reply
    Rush is a band
    November 10, 2011 at 9:12 am

    In life, in general, if it sounds too good to be true, then it is.

    This is another case. You can’t buy the house for $ 200. Every person in america would jump at the opportunity to buy a house for $ 200.

    This is the amount owed to the government that started the foreclosure. There are likely to be others who are owed money. In most foreclosures today the total owed exceeds the value of the house.

    Now, put yourself in that homeowner’s shoes. If you had a home and owed $ 200 and were being foreclosed on, what would you do? Would you let it go for the $ 200 you owed or would you do everything possible to salvage as much of the equity as possible? You would sell the house for whatever you could get for it.

    That right there gives you an indication that you can’t get a house for $ 200, right?

    The other thing to note is the (AND UP) at the end of the description. $ 200,000 is ‘and up’. Of course with truth in advertising laws, there probably was one instance in the companies history where this happened… Maybe…

    good luck!

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