Government Foreclosure Auctions Can Make You $100,000 - Without Owning Property
Government foreclosure auctions are an excellent investment opportunity. Tax foreclosure properties are at all time highs due to the ailing real estate market. Many economists and financial gurus have stated that this period will be a "defining moment of wealth building for many folks… who know what they're doing". However, even if you hate owning property, you can still get real estate sized paydays from government foreclosure auctions a different way.
How? By exploiting real estate overages created at tax sale.
During the bidding process at government foreclosure auctions, prices can rise quickly. As the bids rise they eventually surpass the tax default amount owned the property. This extra over-bid amount is commonly known as an "overage". Overages, by state law definition in most states, rightfully belong to the original home owner that lost the house. Yet most property owners are never aware of this, and simply disappear from the picture after the repossession of their home. This is where a savvy real estate investor can reap sizable profits, without ever accepting any risk on the property itself.
Essentially, the task at hand is to identify where these overages are and reunite them with their rightful owners. It may sound complicated, but that's due to the fact that there is generally very little discussion about this topic. There's a good reason for that. The government is entitled to this money after a certain amount of years if it is never claimed.
So there is no incentive to "chase down" the original owners. That would only eliminate additional funds that the state could later apply for its own expenditures. This is precisely why an opportunity exists for someone who researches these
overages. Once you find them (they are public record and thus freely available for public viewing), you can assess a 30% to 50% service fee to the owner for helping them receive what was rightfully theirs.
The overage business has proved to be extremely lucrative for many private investors who have found this alternative way to make money on properties without any risk. Overages vary in price but are commonly well into the tens and hundreds of thousands of dollars. Helping just a few ex-home owners a year get the money that is theirs to begin with can also mean an additional 50 to 100 thousand dollars for you, as well. How's that for a win/win situation.
How? By exploiting real estate overages created at tax sale.
During the bidding process at government foreclosure auctions, prices can rise quickly. As the bids rise they eventually surpass the tax default amount owned the property. This extra over-bid amount is commonly known as an "overage". Overages, by state law definition in most states, rightfully belong to the original home owner that lost the house. Yet most property owners are never aware of this, and simply disappear from the picture after the repossession of their home. This is where a savvy real estate investor can reap sizable profits, without ever accepting any risk on the property itself.
Essentially, the task at hand is to identify where these overages are and reunite them with their rightful owners. It may sound complicated, but that's due to the fact that there is generally very little discussion about this topic. There's a good reason for that. The government is entitled to this money after a certain amount of years if it is never claimed.
So there is no incentive to "chase down" the original owners. That would only eliminate additional funds that the state could later apply for its own expenditures. This is precisely why an opportunity exists for someone who researches these
overages. Once you find them (they are public record and thus freely available for public viewing), you can assess a 30% to 50% service fee to the owner for helping them receive what was rightfully theirs.
The overage business has proved to be extremely lucrative for many private investors who have found this alternative way to make money on properties without any risk. Overages vary in price but are commonly well into the tens and hundreds of thousands of dollars. Helping just a few ex-home owners a year get the money that is theirs to begin with can also mean an additional 50 to 100 thousand dollars for you, as well. How's that for a win/win situation.