OfflineWe learned about finding buyers at a tax sale at the EDGE 2011, but I can't seem to remember specifically how to approach and what so say to the people there. I know it was quick and easy (that's why I didn't think I needed to write it down)!? I went to a local yearly county tax sale today, and totally froze up on finding buyers, but learned a lot about the process ! There is another one in the next county next week and I want to be more prepared with what to say to people. Anyone remember the details ?
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Dave & Gay
Lloyd Properties, LLC
Basically, observe who's bidding and buying. Make a mental/written note of who won each bid, the amount of the winning bid, and the address.
Here's another tip that the EDGE 2011 presenters didn't mention: that data will give you an idea of what that buyer likes to buy, where s/he likes to buy, and for how much. I'm a huge proponent for mining the data in the public records to learn more about the buyers in any given area.
Next, connect with the winners (and runners-up).
Hi,
I am trying to figure out the cash buyers from the recent cash sales list that my agent sent to me. He has the list of addresses, and I went to the local Tax Assessors website to find out the names. But I am confused, can someone help? Here is an example 1006 Hampton Ct is the address and the county website is http://www.cobbassessor.org/Main/Home.aspx
Can someone tell me what information to look for as there are couple of categories here.
Basically, that property is a foreclosure that HUD owns.
of the county webpage, click on property appraisal search. A new page will come up with boxes to type in street address. then on that same page, under the info boxes, the property parsel #, owners name and the address will come up. you can click on parsel#/owners name for more info.
Those who kill time murder opportunity.
"Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospers." III John 2
"To get up each morning with the Resolve To Be Happy is to set our own conditions to the events of the day. To do this is to condition circumstances instead of being conditioned by them." Ralph Waldo Emerson
So I clicked on the parsel#/owners name for more info, and it showed me a general overview. But there is a section on the left which says "Sales". This shows the following
Sale Date Amount Seller Buyer Book Page Link
02-MAY-11 $38,000 SECRETARY OF HOUSING CATHEY DANIE 14851 0906 Click Here
07-SEP-10 $104,485 CHASE HOME SECRETARY OF 14818 0131 Click Here
07-SEP-10 $124,660 PARIS RICHAR CHASE HOME F 14803 3641 Click Here
12-AUG-05 $70,000 TONI LYN UND PARIS JENNIF 14205 4315 Click Here
So is the buyer CATHEY DANIE, is the cash buyer, and is she living at the same address?
You stumbled upon an anomaly. The assessor's sales data shows that a sale occurred in May, but the profile entry doesn't also reflect that change. So 1 of the 2 is correct, and you'd need to call that county office to get more clarity on this.
Keep in mind that many agents/brokers treat a sale with new financing as a cash sale, because the seller still receives their payment as cash. So it's not enough to simply look for sales that closed with cash. You'll need to also check for tell-tale signs like the owner's tax address differs from the physical address of the property. Another tell-tale sign is the fact that a particular buyer has purchased 2 or more properties in the same area within the past 30 to 90 days.
Stated another way, you might want to ask your agent (next time) to give you a list of all of the properties that transacted with cash, where the buyer has purchased at least X properties in that same area. (Depending upon the area, I like to substitute 5 or 10 for X.) This slight modification will flesh out the repeat buyers.
I want to get involved with taxsales but I don't know where to begin.
Michael A Osias