Things to Consider When Investing in Tax Deeds (Part II)

By dhinternational  /  April 19, 2011 / Comments Off on Things to Consider When Investing in Tax Deeds (Part II)

what are the things to consider in investing?

what are the things to consider in investing?

Determine A Method To Use

Make up your mind on how much time you can give for investing in tax deeds and your travel ability. These factors are significant when deciding a method to utilize to find properties to invest in. You can also attend several auctions just to observe so you can familiarize with the process and the rules.

To find out where the auction will be held and what time, call the county treasurer. You can also ask to know if there are properties that were not sold at the last auction and are available over-the-counter.

Do Evaluation

Assess the risks involved and know the fair market value. But do remember that the county appraiser can be a little too optimistic that it won’t matter for them if there are environmental or legal issues with the property title, after all, it’s a foreclosure property. A better idea is get an independent appraiser as it will save you money and stress.

If the property has legal issues, get a real estate attorney who is familiar with the local laws.

Specify your Search

Get a list of properties that are right and that fit you. You don’t have a lot of time to do extensive research on all of the properties you may be interested in so at least, utilize your time to concentrate on the best properties. The more time you dedicate to do due diligence, you will be able to understand the property’s market value better.

Attending the Auction

In your first time to attend the auction to buy properties, it is recommended to stand at the sideline and observe. The first part of the auction is where the most competitive bidding take place. Assess first what is happening before bidding.

Now if you are not able to get the property the first time, don’t take it too hard. Also, don’t panic that you are going to bid on any property even if you haven’t done homework just so you can purchase something.

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