If you're looking for a new home you better take a look at government tax foreclosures, as these are great options for finding new homes at prices that are drastically lower than market value.
How much lower are they? Government tax foreclosures are often priced 20-60% less than their current market value.
One check through an online listings website and one would be surprised to find many such homes currently for sale.
What are Government Tax Foreclosures? Government foreclosures result when the homeowner is unable to pay back the monthly payment to the bank for their mortgage.
This debt is usually tax related and in such a case the bank takes possession of the home and sells it through auction or the real estate agencies.
The tax mentioned here could be any tax lie income tax or the property tax.
Whatever the case a government foreclosed home is an amazing and a mind blowing deal to any prospective buyer.
Check Online Listings for Free Foreclosed properties are usually listed with online foreclosure listings websites.
These websites are of great help as they provide all information regarding the foreclosed properties.
But these websites charge a small monthly fee to access their files.
This is not very convenient for people who are new to foreclosures.
However, most websites offer a free trial period, during this period the user has access to all information just like the paid users.
These websites help in finding homes in any particular area and give information and photos about the home, the schools in the neighborhood, and the neighborhood itself.