Unmatched Tax Lien Overages Strategy Bob Diamond Tax Sale Overages

If the home owner does not pay their real estate tax, there can be a Tax Foreclosure by the regional area and if that home goes to Tax obligation Repossession public auction, there is commonly a bidder who purchases the residential property for even more than what was owed in home taxes. Let me describe # 2 for you a little deeper say you owe $15,000 in property taxes on your home and your residential or commercial property goes into Tax Repossession.

Say the property sells for $100,000 and from that, the county takes their $15,000 they were owed for real estate tax. Overages List by County. What occurs to the continuing to be $85,000 that the staff of court has in their bank account? The property owner needs to make a claim to the area clerk and the court generally reviews these insurance claims and honors the homeowner his cash

The area government HAS NO Commitment to alert or inform the previous home owner. J.P. Morgan claims these Tax obligation Foreclosure sales produce nearly 13.6 million bucks in excess, or equity, every single day.

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My friend, Bob Diamond, is a specialist in this specific niche of overages and aids homeowners get the money that results from them. He just recently informed me that they presently have 2.2 million bucks in excess under contract in his workplace and they will obtain costs of roughly 30% of that 2.2 million.

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There are a few things you will require to be successful in the excess service. Below are the four basic actions you will certainly require to adhere to: Learn who is owed the money and that to get a targeted checklist. Tax Lien Overages. Since Bob is a lawyer, he recognizes exactly how to acquire the listing needed to discover these previous homeowners

The excess market is a fantastic area for a real estate rookie to start their occupation. Begin with tax obligation sale overages, and then work your method up to much more challenging funds like home loan repossession excess and unclaimed estates.

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This is also a fantastic way for someone who does not wish to deal houses any longer to remain in the real estate market without getting their hands too unclean. Bob refers to this as the "Altruistic System" and if you consider, this name totally makes good sense. There is a substantial amount of cash in it for YOU as an insider that would be discovering this cash for people from the federal government.