buying tax delinquent property?

[Joonbug]

It seems too damn good to be true - paying the owners backtaxes allows you to have a "note" on the property, you don't technically own it but can do whatever you want with it, and after an alotted amount of time, you go to court with the owner and if they don't want it, it's yours. buying a whole house for as little as 20 bucks + property taxes, for fucking real. and if they do still want it, they have to pay you everything you put into it plus interest. I've been researching it for a while but most of my findings are from an investing point of view, cause you can get maad cash, but I'm concerned as to why no one seems to be doing this and how it's gonna fuck me over. Have you/do you know anyone that's done this?

 

[happyearthhomes]

From what i know in my state you have to buy three consecutive years taxes and allow the owner 2 years from the last years taxes due date befire yiu can claim the property so potentially five years before you own the property and then only if there are no pending liens against said property and if there are you have to pay off the lien before you can chang the title into your name

 

[veeteephil]

http://www.dailykos.com/story/2011/...,000-Texas-house-for-$16;-neighbors-are-upset