uying tax defaulted real
estate can be a blessing or Once you look up the parcel
it can be a curse. You can numbers and have visited the
get a great deal but you must do property, then you need to know
your research. what is actually on the property.
Is there a house there? If so, is
The first step in the due it condemned? Is it zoned
diligence process is to get the commercial? If so, you may need
list of parcel numbers from the to check for contamination
county. This list can be issues? Is it vacant land? If so,
extremely confusing at first. you need to check whether there
Once you get the list, then you is a road going to it.
go to where the county records
are kept, usually called the The next thing you need to check
County Auditor or County is valuation. As the old saying
Assessor. Many counties have this in real estate goes, it's all
information online. If not, then about location, location,
you will need to go there in location. Check around. Call the
person. Alternately, you can hire Realtors and appraisers and don't
a title company to do this be afraid to dig. Realtors can be
research for you. extremely helpful if you ask them
nicely.
The next thing you should do is
get a plat map and visit the The next thing you need to check
property. Take your digital is zoning. You would hate to find
camera and lots of notes. If you out that you are about to build
are attending a big sale, all the your dream house on this property
different properties can get only to find out that it's zoned
jumbled in your head quickly, so for mobile homes.
organization is key.
You also need to find out about on a case by case basis. Don't be
assessments. While there are afraid to talk to the property
several different types of association and tell them that
assessments that can come up, the you are going to be providing
most common ones are sewer dues to the community and then
assessments and property owner negotiate negotiate negotiate.
association assessments. The big They know that you are going to
thing with assessments is you bring in much needed funds to the
need to find out if there are any community and will work with you
delinquent assessments owed that if necessary.
will be wiped out with the tax
sale. Check with the county first In conclusion, be smart, be
about this and then check with diligent, and be careful. But
the company assessing the with the proper planning, great
property. In many states, they deals are yours for the taking.
leave it to the company assessing
the property to waive back dues
About the Author:
Carlos Scarpero is an experienced real estate investor who specializes in land. Visit his blog at http://www.scarpero.com/real_estate and learn new and interesting ways to profit from tax liens and deeds
Read more articles by:
Carlos Scarpero
Article Source: www.iSnare.com 
