Drawbacks of Tax Deed Sales

Posted on by
Reply

Purchasing tax deed sales is a great method to get involved in the real estate industry. Additionally, it is also a very viable way to invest your money. Thousands of people all across the country purchase and sell tax deed sales as a means to support themselves. And in some cases, tax deed sales have made people earn millions of dollars.

And, even if you aren’t an investor, tax deed sales can still be of some benefit to you. Are you looking for a new home? If you are, tax deed sales can offer you great properties at lower prices.

However, before you begin to buy and sell tax deed sales, you’ll need to know about the drawbacks which are involved. Regrettably, the investing or buying tax deed sales procedure isn’t quite as simple as it appears to be. Below are listed a few drawbacks you should watch out for when you decide to look into tax deed sales.

1. Watch out for the so-called experts that think they know everything about tax deed sales. Although these people might have made a few transactions, it doesn’t mean that they know absolutely everything. These experts usually love to put information together on tax deed sales and try to sell it to the public at a cost. Of course, you might be able to get some useful tips from these people, but at the same time you will not be getting the best information. They will leave out all the drawbacks that go along with tax deed sales in order to make them sound more attractive; this is a way of helping themselves to make more profit.

2. Tax deed sales aren’t always of much value; many times they aren’t worth anything at all. More usually, valuable properties have a mortgage on them, which would of course be deleted from a tax sale. In this case however, the mortgage company will usually pay the taxes themselves in order to improve its losses. They will then own the property and it will no longer be for sale at the auction.

All tax deed sales aren’t however worthless. If you have sufficient time, you can buy tax deed sales, fix them up, and then resell them to the public at a cost. Most investors would rather stay away from this stage if they can.

3. In some cases a precious profit that doesn’t have a mortgage on it will reach tax deed sale status; there are indeed some rich people that simply don’t pay their taxes. At this point you might think that you might buy these tax deed sales and make a substantial profit.

The only problem this poses is that you will be competing against a lot of other investors. And, if you don’t have more money, the bids will soon enough be out of reach to you and you’ll be left with the lesser properties.

Tax deed sales can definitely be quite valuable to any investor. However, make sure that you bear these three tips in mind when you look into the subject. It is important to understand that tax deed sales aren’t always as easy as they may appear to be.

Ann Sommers is a contributing editor at RealEstatePropertyArticles.com. This article may be reproduced provided that its complete content, links and author byline are kept intact and unchanged. No additional links permitted. Hyperlinks and/or URLs must remain both human clickable and search engine spiderable.

3 Step Guide to Help You Move House

Posted on by
Reply

Moving into a new home is often a daunting process because it involves so much planning and work. From simply finding a new house to packing and loading your things into a moving truck, everything needs research, time and money.

So, how about a short basic guide that will help you move house without feeling like your moving into a new universe. You can even base your more comprehensive checklist on our guide, since it will provide you the most important milestones everybody should consider when moving into a new place.

1. Getting ready for the big move

This operation should start at least eight weeks ahead of the move day and should include steps that will help you get “closure” with the old place. So, this is the time to set up mail forwarding, change your address and notify this to your banks, postal office, human resources department of your employer and other institutions that need to communicate with you in writing.

It’s also time to change over your utilities, so they can have enough time to come and make the switch. You can do this by filling in an online form. You should also start buying packing supplies, although we recommend choosing used boxes because they will help you save a lot of money and are available at almost every store, as well as online and at recycling centers. Don’t forget about tape and bubble wrap.

Make sure you already have the measurements of your new place, so you can set up your furniture without having to modify it or, worse, buy a different one. Start searching for a moving company that is reliable and can help you with your move by providing professional, insured movers. It’s easy to figure out which company is reputable because they are usual certified, insured, have a moving arbitration program to avoid small claims courts, which will help you save time and find a fair solution to any potential problem you might encounter during the moving process. And, of course, they have great reviews.

2. Pack like a pro

When it comes to packing, you will have plenty of things to consider. First, you need to decide if you’re going to pack your things yourself and with the help of friends, or just hire professionals to do this for you. While the latter option is definitely the most appealing, it also involves costs, so most of us will just start packing several weeks ahead of time.

Decide which type of moving containers you’re going to use. Used free boxes are usually the number one choice for many people because they are easy to find, practical and free. You can also use plastic containers, if you don’t mind spending a bit on acquiring them. Never wait until the last minute to start packing because packing in a hurry will make moving more stressful. Start by packing non-essential items, such as decorative things and out of season clothes, and leave the essential stuff for the last few days.

Now it’s the perfect time to clean your closets, and donate what you don’t need, or throw away what is broken or useless. Craigslist and eBay are ready to receive anything you want to sale, but if you have a garage, you can always put together a garage sale. Fragile items should always be packed with bubble wrap first.

Don’t forget to label each box to make things easier for you when you start unpacking, and number your boxes, for inventory. Important papers and documents, as well as valuable things should be carried in your own car.

3. Moving in

The big day has arrived and all your stuff are already in your new home. Unpacking should be less hard than packing, so you’re on the right track here. Check out your inventory to see if any of your boxes are missing and, if everything is all right, start distributing them into the right rooms. However, before starting to unpack, make sure you clean up the place first and dust it thoroughly. You’ll work better in a clean space.

It’s time now to assemble your furniture, which will fit perfectly, because you already know all the measurements of your new home and exactly which piece of furniture goes where. After all your furniture is set in place, you can start unpacking. First, you should fill your closets. This will take some time, but it will help you get rid of the majority of your boxes.

You’re done! Don’t forget to recycle your used boxes and papers used for wrapping.