Upcoming Foreclosures

Buying government tax-foreclosure properties at pennies to the dollar?

How is it possible that infomercials state that properties that government tax- fore-closure properties are selling for literally 2 or 300 dollars online?....This obviously cannot be true but how can they get away with making such sensational and impossible claims? Doesnt that break some better business bureau law somewhere? Are there any elements to this idea that are true? What is and what isnt? Can you buy a house that is in the final step of foreclosure like you see on web sites like trulia.com for only a coupl thousand or so for 3 bedroom nice houses?...How does this work, how do you buy a house that went into total foreclosure scott-free? I would apreciate any advice about investing in houses with out huge amonts of money down or even good credit..Thanx everyone :) Are house auctions the only way to really buy houses at a discont price? And where and when do houses get sold cheaply at auctions?

Public Comments

1. Most of the real estate infomericals are scams. They get you to buy their system/books/DVDs. You are making them rich, not the real estate market. The most proven to buy houses in Foreclosure is to go to auctions. You can usually buy the house for unpaid taxes.
2. Seems they have been doing just that in Australia by tracing the people who cannot afford the higher interest rates Also it was stated that its very very Illegal so buyer beware. If its to good to be true then get suspicious
3. When buying forclosure properties they are sometimes in disrepair. It is very difficutl to get a loan on a property that needs repairs unless you have the cash. Check your local government website for local auctions. also check http://www.hudsonandmarshall.com/
4. maybe more sleep at night and less watching of tv infomercials would give you a clue to how it really works in real life. But if you want to send money to anyone for hot air i will give you my address. Everyone, his brother, sister and aunt elsie are all looking for foreclosures and running the bids up at the auctions past market. Better buys to be had from private sellers the traditional way at the moment.
5. TOTAL BS!!!! You can buy at an auction, but remeber there are real estate professionals that have a bunch of cash laying around and I can promise you they know in advance of any auction. I have never seen a house that was a tax lien foreclosure that was in a good enough condition to live in. If it was, they would have paid the taxes or rented it out. Sorry, wish I could say it was different, but there are better ways of getting a property and making money off of it, even in this market.