Due Diligence Prior to Buying Properties

By dhinternational  /  February 5, 2014 / Comments Off on Due Diligence Prior to Buying Properties

Due Diligence Prior to Buying PropertiesDue diligence plays a big part in buying tax deed or tax lien.  These kinds of properties are offered by counties on a weekly, monthly, or yearly basis.  Also, oftentimes these properties are sold at only a few hundred dollars when in fact they’re worth more.

Before getting started, here are some key points to put in mind:

Research
It is important to research thoroughly the properties you’re interested.  You can do this from the comfort of your own home via internet.  Make sure that the property is in a profitable area, no IRS lien attached to it, clean title, etc.

Property Visit
It is also recommended to visit the properties you’re interested.  Take note that there are those which are facing many problems such as underwater land, vacant lots, or destroyed homes.  If you do not have the time to do this, Google Earth can help you see the area.  You can also ask a favor from a friend or family near the location to take a picture.

To find the right properties, you may need to research a lot in order to get those affordable ones.  Once these tasks are accomplished, the next thing to do is buying the property of your choice.

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