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Tax Deed Sales

How can properties be foreclosed as tax deed sales? When a person is unable to pay off his taxes for a period of 3 years, the government's tax collection arm will move in and take his home and to auction it off to buyers so that it can get back the taxes that have been unpaid. This is done through procedures that are known as tax deed sales.

It is known among the real estate gurus of today's time that anyone with the money to invest can earn something from tax deed sales. One way to do that is to lease the property. This way, the new owner receives a steady monthly income from the tenants which is more than just enough to sustain a return on investment for the money he has put it into buying the property during the auction. There is, however, yet another way to earn a profit off homes that are foreclosed due to non-payment of tax.

The Excess Proceeds Strategy

That second, often overlooked tactic is the excess proceeds. Like its name suggest, these are profits that are otherwise not needed by the benefactor of the sale. In this case, it is the IRS, who is only out to reimburse itself for the unpaid taxes that it is owed. In tax foreclosure auctions it is rare for a bidder to win by sticking to the minimum, which is the amount owed by the former owner. Hence, there is always a guaranteed surplus of earnings that is legally given back to the owner.

In the case of tax deed sales, homeowners are given a grace period which in some states is called a "redemption period". However, almost always homeowners are willing to walk away from their homes. Who will now receive the excess proceeds when that happens? So what you do is purchase the home and, as the new owner before the house is sold, you are eligible to file for the excess proceeds in tax deed sales. The only way to take advantage of the excess proceeds is to find a home being put up for tax foreclosure auctions. Visit and find that home today.

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