| Some are under the wrong impression that abandoned | | | | There are some obvious considerations to keep in |
| property held by the government are not for sale. In | | | | mind. For instances if tax liens are placed against the |
| fact a quick survey of government auction sites will | | | | property, then you will have to clear those liens before |
| show thousands of properties up for sale, and that | | | | taking ownership of the property. While liens will be |
| buying these properties at auction is not a difficult task | | | | listed in the sale notification, they are not factored into |
| at all. Not only is it relatively easy, but you can | | | | the price. |
| purchase abandoned property at government auctions | | | | Before selling abandoned property the government is |
| at enormous discounts. This is the main advantage | | | | required to place an advertisement in local |
| when you buy an a from a government auction. | | | | newspapers declaring the auctioning of the property |
| Many are under the illusion that the type of abandoned | | | | on a specified date. This is done to notify the original |
| property found at government auctions are mostly | | | | owner of the abandoned property that it once the |
| houses or bungalows, and are probably rundown, | | | | property gets purchased in the auction, the owner |
| decrepit, or otherwise undesirable. | | | | cannot claim it back. |
| While this may be so in some cases, most of these | | | | Since you can resell the property, this is one of the |
| sales are for recently occupied homes, office buildings, | | | | easiest ways to become a "real estate speculator". |
| warehouses, or other residential and commercial | | | | Many of these "speculators" have made fortunes |
| locations. | | | | simply buying property at auction and reselling them, |
| Unclaimed property, whether it is a bungalow or house, | | | | often times not even occupying or even visiting the |
| office building, etc., can be declared abandoned if for | | | | property after an initial evaluation. Some have become |
| some reason the owner fails to maintain tax | | | | and millionaires by buying and selling abandoned |
| payments, zoning requirements, or other obligations. | | | | property. |
| This can happen for many reasons. Death of the | | | | While you can find these auction notifications in local |
| property owner or a name change if the owner got | | | | newspapers, a more practical means of locating these |
| divorced or married will compel the government to | | | | sales is through online listings. However, each |
| declare it as an abandoned property. Unpaid property | | | | government agency hold its own independent auction. |
| tax is another common cause for declaring a property | | | | A far more effective strategy is to subscribe to one |
| abandoned. Before declaring it as abandoned, the | | | | of the many government auction membership sites, |
| government tries to locate the owner, or heirs of | | | | which aggregate these listings into a single site. Before |
| property owners. If the government fails to locate | | | | signing up for one of these memberships, however, |
| them, then they will declare the property as | | | | make certain their listings are kept both current and |
| abandoned. | | | | complete. |