ANSWERS: 3
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Got a Realtor friend. They can help you in that department. As far as paying back taxes and think you just move in. It's not that simple. You need to educate yourself in turning property or you'll end up on the short side.
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I do not know about every state, but http://www.roddyreport.com/ has most of Texas for scheduled foreclosures before they happen. You have to pay for the report, but the you can preview the home before the foreclosure happens and then bid at the auction. In Texas they happen on the first Tuesday of every month at the court house steps. After the foreclosure, you can check with a REO realtor or your realtor and you can make an offer to the bank. You can some times get a good deal on these, but they are exampt from disclosure and are sold as is, though some banks "might" make some repairs if safety is involved and it was not an obvious need. (Might, not have to.) For a tax foreclosure, you need to go to the County Courthouse. They should have a list, probably updated weekly. There is a redemtion period where the person has the right to catch up their taxes and get there home back. You can make big money on these type of foreclosures, but if you choose to, do your homework and do not put a bunch of repairs into the property until the redemtion period is up.
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I've been in Real Estate for many years. Unless you have a working knowledge about buying foreclosed propertys, I would stay away from it. You need to educate yourself in that field, which is a very cut throat business. It is not for the faint of heart. If youi jump into the real estate business without some background, you will lose money. It's not as simple as paying the back taxes and you move in. Alot of things you need to know baefore going that route. There's not enough space in this forum to give you what you need. Good luck..
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