Have you heard about tax sales? I was interested in them and the opportunity to get properties for pennies on the dollar. I decided to attend several sales a few years back. I even bought a house that went through this process. No better way to learn than to participate! I had preconceived notions and learned a lot in the process. This is a quick write-up on what I learned to give you a perspective of the sale and process here in South Carolina.
I have mentioned in a previous post that real estate is not passive. Here is another example.
Someone stole the HVAC unit!
I bought a house for $2500 a few years back at the tail end of the real estate downturn. I was surprised (as I’m sure you are!) when I found it available. I bought it directly through the county office, as the previous owner did not pay their taxes. When you buy a property like this, you don’t know what you are really buying until you own it as you can’t go inside. When I bought it, I was wondering if I made the right decision.