| A smart real estate investor looks for bargains in real | | | | almost twice that amount! Another example is a gas |
| estate; a diamond in the rough. But trying to find these | | | | station and dry cleaning storefront that sold outside of |
| bargains can be difficult to do. Government auctions | | | | Chicago for $42,400! These auctions were both |
| and county tax sales are just one way of finding real | | | | seized by the federal government for failure to pay |
| estate well-below market value. Some of the | | | | taxes. |
| properties will need some minor repairs, but you can | | | | County Tax Sales |
| find real estate property for pennies-on-the-dollar. The | | | | If you fail to pay your county property taxes, by law, |
| U.S. Marshals Service (USMS) sells property that the | | | | the county has the right to seize your property and sell |
| federal government orders to be sold. County | | | | it at government auction to recover their losses. These |
| governments also sell properties that have failed to | | | | are known as county tax sales. Anyone can attend |
| pay their property taxes. | | | | these auctions and bid on property. Traditionally, these |
| The U.S. Marshals Service | | | | sales have taken place on the county courthouse |
| The U.S. Marshals Service (USMS) offers a wide | | | | steps. But more and more counties are starting to |
| variety of property for auction to the public which has | | | | have their auctions online. It is very important when you |
| been forfeited or ordered sold by federal court order | | | | are considering buying property at county tax sales |
| under laws enforced or administered by the United | | | | that you perform your "due diligence." Due Diligence is |
| States Department of Justice and its investigative | | | | the process of investigation, performed by investors, |
| agencies. The U.S. Marshals Service sells diverse | | | | into the details of a potential investment, such as an |
| assets such as high-end vehicles, collector cars, | | | | examination of documents, inspection of the property, |
| residential, commercial and agricultural real estate, | | | | and performing a title search on the property. This is |
| timeshares, sport fishing vessels, aircraft, artwork, | | | | imperative as most government auctions sell their |
| jewelry, financial instruments and much more. Much of | | | | property "as-is" and it is up to the buyer to make sure |
| this merchandise is sold online in online auctions. They | | | | all the details are taken care of before they bid. |
| have properties listed all over the country ranging from | | | | Buying property at government auctions can be an |
| houses, apartment units, and bare land. | | | | excellent way to find a bargain. Remember to do all |
| One recent example is a home in Boynton Beach, | | | | your research before you buy and you may be |
| Florida up for auction. It is a four bedroom house with | | | | rewarded with a property well below market value. |
| two bathrooms, a two-car garage, and an in-ground | | | | You can either fix up the property and sell it, or fix it up |
| swimming pool. The starting bid for this auction was | | | | and rent it out and receive a steady monthly income. |
| only $171,800! Comparable homes in the area sell for | | | | |