Updated over 1 year ago on . Most recent reply
Texas lax liens and deeds
Greetings I'm new to tax liens and deeds, I'm located in el paso tx, I'm interested in the el paso texas area, I'm also interested in other texas counties, I'm open to any suggestions, I look forward to networking and connecting.
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#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
@David Jones @Maryann Nichols Don't take any of the national courses. They are not normally geared towards Texas and we have our own rules and regulations.
#1. Can you attend the sale live on the 1st Tuesday of the month? Not sure about El Paso, but most of our sales are live and in person. A very few online.
#2. Do you have the cash to bid? Normally must have same day cash or cashier's check. No financing typically.
#3. Can you hold on to anything you buy for 2 years before reselling? That is typically when you get title insurance for the resale. You typically don't want to do any renovations before the 2 years is up...just basic safety and securing the property.
#4. Chances are you get the property and will never be paid interest. Very few people redeem.
That's the starters. El Paso should have a sale every month. Get the list, determine what you would be willing to pay for the property over and above the minimum bid. Go to the auction 2-3 times before you ever bid. See what people in your county are willing to bid and see if this game is for you. Never been to the sale in El Paso, but if everyone is bidding $100K, but you only have $5000 to start, it's not your game probably. Every county is different though you just never know who has cash to bid and how much they will bid.