Due Diligence: A Guide to Researching Tax Sale Properties with Bid4Assets' CEO

hey everyone welcome to another free webinar with bid for assets calm my name is shawn mclaughlin and i am part of the bid for assets client services team today we're going to be going over some useful best practices for researching tax defaulted properties bid for assets hosts hundreds of tax sale auctions every single year in dozens of counties and in every one of them performing due diligence prior to bidding is just about the most important thing that you can do over the course of this presentation please feel free to shout out any questions that you have and we'll try to get to them by the end of the webinar in a few moments I'm going to turn the reins over to bid for asset CEO Jesse Loomis before we get rolling I just want to remind you all that the video from our last webinar be for a basics is available now on YouTube just go to youtube.com slash bid for assets and it will take you directly to our channel where you can view the whole presentation footage from this webinar should also be available there by the end of the week we'll also be sending out a poll to collect your feedback on what topics you'd like to see us cover next so to stay up to date on these webinars and just about all things bid for assets be sure to subscribe to our newsletter like us on Facebook and follow our Twitter on bid for assets tweet again it's at bid for assets tweet so that's enough fun of me everyone without further ado I'd like to introduce Jesse Loomis in his 14 years with Pitt for assets he's been instrumental in the sale of over 250 million dollars in tax deeds and in the last year 10 years he has bought and sold over 800 properties he gives regular lectures at conferences and authors articles providing commentary on the real industry on the real estate industry and now here's just a moment thank you should so just to do a quick obligatory disclaimer I just want to highlight that you know this is not intended as you'll advise also any vendors that we talk about we don't have formal relationships with these 91 paying us to throw their name out there this is entirely intended to be a guide to support you in your real estate due diligence so with that let's get into it all right so a few basic questions so what is bid for assets fit for assets is an online auction site specializing in distressed real estate in 2000 we did the first internet-based online tax sale tax deed sale for a county in California to this day we've done online tax sales for over 80 counties nationwide specializing in counties in California and Washington State we also do federal forfeitures and seizures as well as working with banks bankruptcy attorneys and private funds to liquidate real estate of all types so what is a tax sale most properties in the US have annual or semiannual property taxes attached to them these taxes fund essential county services when people don't pay their property taxes there are a couple of different models by which counties recoup these taxes so in some states like in Florida and Arizona counties have what's called tax lien sale basically if you don't pay your 2018 tax bill the county will hold an auction and the locks turn off your tax bill which someone will buy is a tax lien certificate and you will ultimately pay this party back for your tax bill plus some interest other states like California and Washington state do what's called tax deed sales if you don't pay your property taxes for X number of years set by the state the county will simply hold an auction and auction off your property that is what bid for assets does we do tax deed sales so why should you be interested in tax deed sales wouldn't it be interest of either to go call a real estate agent and have them do the legwork and buy property for you that way if what you value is it being easier and more convenient than yes that absolutely would be easier people typically come to tax sales to to get a bargain to buy property at a discount and there's a few reasons why that often happens so one is that the minimum bids at tax sale are much more arbitrary and low than they are in other avenues so when a real estate agent puts a property on the MLS they're basing that price on what they think the market can bear even in a foreclosure auction the minimum bids are typically correlated to the outstanding principal on the mortgage which is much more correlated to what the property was purchased for or a correlative market price now in a tax sale tax deed sale the minimum bid is a function of the outstanding taxes and penalties as well as the count these costs to bring it to tax sale and have the auction so when you tell those things up that's where you get that arbitrary thirty seven hundred and twenty-two dollar minimum bid on a property that looks like it's worth seventy five thousand dollars because the county's only interest is to recoup what they are out on this property also tech cells aren't quite as widely known as some other ways of buying real estate and because they're not super user-friendly it certainly deters people who don't know how to conduct their due diligence on their property so that's my aim for today is to give you some sort of tips on how to go about taking these properties that you don't know a lot about and how to make informed decisions and evaluate the property I'm not going to focus today on the basics of participating in our tax sales as Sean mentioned you did a great webinar two weeks ago on how to register an account fund a deposit place a bid things that are a little more basic and sean is going to send a link to that web which is hosted on our YouTube channel to everyone who is attending the webinar today I'm going to focus more on tips and tricks for due diligence and I'm going to do so in the context of my top 10 tips for due diligence so number one you've got to learn how to use GIS systems especially when you're looking at land GIS stands for geographic information systems it's a fancy way of saying satellite imagery with the borders drawn on so many counties have free GIS systems and they're really not that standardized they tend to vary a lot a lot of homegrown systems are a proprietary systems county-by-county and certainly all GIS systems are not created equally for bid for assets tax sales if the county has a GIS system typically that would be linked in the tax sale that is hosted on fit for assets now there are a couple of nationwide paid services that also have a GIS imagery so a couple of them they're popular our report all usa.com and map right comm I'm big fan of report all USA to give you some sense it's three dollars for a day pass or fifty dollars for a monthly pass and you can use an unlimited number of times in that time period that you're paying for so if you had a particular tax sale with let's say 25 properties and you wanted to spend a Saturday researching the properties you could pay three dollars and be able to research you know all the properties in the 24 hour period map rights a little cheaper they have plans starting at $15 a month also google map for some jurisdictions if you toggle from satellite view over to map view you will see that the there are property borders drawn on to their map view again not all places in the US but in some places and if you know how to locate the property on Google Maps that's another way you could get a sense of where the property borders lie so I think GIS is really important part of tax sale research so I thought we could do a little demo for portal USA and see what the system looks like what we can learn from it I'm gonna hop out PowerPoint and so here is a bit for assets tax sale for a property in Benton County Washington that is coming up in a couple of weeks property with a minimum bid of 1565 dollars we see the parcel numbers right here in the title as well as in the description we see if this property has a full address 13:49 apple cider court Richland Washington so let's start by seeing on Google Maps what we can learn by plugging in the address so looks like a nice neighborhood clearly we're looking at large houses I can see a few in-ground pools paved roads certainly looks good now the property itself the pin is sort of in an interesting place looks like it could be a portion of maybe a couple of these backyards it's a little unclear what 1349 apple-cider court actually refers to so let's try looking at the property now using a GIS tool so we're going to search county of Benton been spent in County a number of states or in Benton Washington and with copy through the parcel number I always like searching by there it is and the address matches ha so what we're clearly looking at for a 1349 apple-cider court is a very long narrow strip that's running along several properties here let's look at it on Google Street View and see if it's easy to match up what we're actually talking about here oh yes so we can very clearly see what the long narrow strip is that is up for auction in this tax sale and certainly understandable why would ever party owned this stuff paying the taxes on the property and is going to lose it to tax foreclosure now there are certainly people who buy all sorts of I would call very non-traditional properties and come up with all sorts of uses parking advertising tiny houses people come up with some very creative things to do this is obviously going to be a very specialized property you're not going to be able to buy this and put a house on it or develop it any sort of a traditional way so you would want to have a very specialized use for this property before that's something you would seriously look at let's look at another property in this auction and that really I think was a good example of why why you to understand exactly where the property borders are all right so this is interesting so over here on the left report Oh gives you the lot size and sometimes they have beaded and calculated calculated is them taking an educated guess based on the area that the borders are covering but deeded means they've actually pulled it straight from public records so public record shows one point 36 acres if we scroll down in the description that matches the public record info that the county also pulled so this is sort of a more appealing property obviously good-sized lot just over one the third acres looks to have access via this little road here off South 38th Avenue plenty of homes on the some of the adjacent parcels we can see power poles running right along here as long just north as well as just west of the property there also looks to be some looks like some little sheds maybe a barn or a storage building over here let's see if Google Street View goes near this property and if we can get any more information on it so here's our property so Google Streetview isn't going exactly by the property but it's going at the base of this little road here so we can see from the road the structures that certainly looks like a barn from here's a little storage buildings so certainly a property that you should be able to take the little road up and get a pretty good look at it the road without obviously setting foot or trespassing on the property let's see what else we can learn here so report all also links to Zillow now I'm not a big fan of Zillow in terms of their Zillow estimates necessarily you know the value that they put on the property but Zillow can still have a lot of value for coming up with a value for property because they also provide info on active listings and recent sales so here's the property we're looking at just two Lots north of it we see was a recent sale and what we can see is on 10,000 square feet so less than a quarter of an acre versus the 1.36 acres that we're looking at here's a little 3-bed 2bath 1500 square foot house that April of this year so six months ago we know this property sold for one hundred and sixty-five thousand dollars and we can even get a pretty good look at what kind of shape the property is in so if you're a developer and you're looking at this property you're sort of working backwards if I were to develop the property what would I have what would it be worth what could I sell the property for what's it going to cost to get me there and for me to make a reasonable profit how much do I want to spend on this property which has a minimum bid of forty four hundred dollars so seeing the kind of value that some of these around it house just west of the property sold in October of last year for four hundred and one thousand this is sort of how I would work back and do some research on how much would you like to spend on this property to be able to do something profitable with the property so I think this is a good exercise so let's do just a couple of California properties and upcoming tax them okay so now we're in Sutter County California very agricultural County got a property with a parcel number or full address so let's look at Sutter County California search by parcel there it is okay so about a quarter acre of land certainly looks like according to satellite imagery there's a house here looks like a fairly suburban area I know that I checked this one out before I saw that the Google Street View vehicle drove by it six years ago and Bing Maps drove by it three years ago so let's go with the more recent imagery this is the property here you can see the little Southwest dip that it has here that we saw on the satellite imagery so certainly and we see up here this is imagery from March of 2015 certainly looks like a few years ago this was an occupied property of course I would recommend if you're seriously interested in the property driving by and taking a new look at it you know even if the imagery have been from six to twelve months ago this is a property that someone's at risk of losing to tax foreclosure they don't exactly have an incentive to maintain the property well and you know want to see what kind of condition it's in at this actual moment so let's look at one last property also in Centre County this property has a minimum bid of $2,000 like it has access on Bishop Avenue all right so right off the bat we can see it looks like it has frontage on feather river we zoom out we're starting to see what looks to be a lot of crops and agriculture around the property we see some homes over here just west of the property more agricultural type properties over to the east so the property itself looks like it's on a little peninsula here with the Feather River going around it most of the properties on the peninsula look to be a bit larger we see that report all estimates this is about four fifths of an acre of land and again want to research more on the sort of the usage of the property and we'll talk about what else you'd want to research but certainly understanding exactly what you know a pno nine to four to ten actually is when the county isn't providing you any sort of imagery or satellite imagery on the property is something you would want to understand so you can make an informed decision all right so let's pop back over to the presentation for a minute okay so let's talk about plat maps also known as parcel maps so a plat map is a map recorded with the county that shows land divisions and typically also has some measures that help you establish scale in the property so there's a little variance in some places on the parcel number formats but many parcel numbers especially in California generally follow in in this sort of format so you've got three clusters of numbers the first cluster of number numbers tells you what book to pull at the county recorders office they're at least four hundred and seventy books of plat maps at the at this County's record or off this is the one that would have the plat map for this parcel the second cluster of numbers the first two digits is the page within that book for 7d that you'll find the plat map on and then the third number is the block in which the property is located and some plat maps may only have one block many have two three four blocks we'll look at an example of a plat map shortly and then the third segment of the numbers is the lot number within that plat map that you're looking at so let's actually pop back to that last auction that we were just looking at which actually has a handy little plat map rotate it okay so here is for this last property that we were looking at here is the plat map on the record with the county so I'm going to copy the parcel number and put it up here just so we have it for a reference alright so oh nine is the book that this is located in we see that nine up here in the top right and it also says down here assessors map book nine and now the middle cluster tells us that it is on page 24 and block two down here I believe the four is cut off when the county scanned scanned it into the tax now but this should say page 24 and well how many blocks do we see on this on this platen app here so it looks like this piece up here is page 24 block 0 this is page 24 block 1 and this down here is page 24 block 2 so oh nine 242 so page nine we want to be on block 242 and lot o ten we want to find the circle ten down here it cannot be made it very easy for us by actually highlighting the parcel on this particular platen see many of the parcels on this plaque map the county has made it very easy the plat maps made it very easy seven acres eight point five acres nine acres of course we picked the difficult one that does not have the actual acreage listed in it but what it has given you so that you can calculate it yourself are the dimensions so it looks like the north borders to 30 by 135 by 225 by 244 so if you paid attention in the high school geometry and you remember how to calculate the area of a trapezoid now you've got the four dimensions that you would need to do that there are actually a lot of free tools online if you google it which i've used from time to time you know area of a triangle area of a trapezoid you can just plug in the various dimensions of it it'll spit out the surface area for you to tell us you know what are the square feet of this lot here which we can then convert into acreage and see if the point point 81 that report all estimated is actually accurate so once we have the plat map we can actually work backwards if let's say you purchase this property and you wanted to pull a deed to the adjacent property to the north that has a K on it here let's say we wanted to figure out what is the parcel number of that property so that we can go pull the deed on using the plat map now we can figure that out so we know we're in book nine so the O nine is okay and this property is on page 24 block one so now the middle quadrant 241 and now for a three-digit lot number we've got the circled one so this is lot 100 one and that's it so the parcel number four lot K here is page nine blocking page and block 241 lot one so that is the parcel number of this property and that's basically how you read plat maps okay so we talked a little before when we had Zillow up about tools to value properties which obviously once you've figured out what the property is now you've got to figure out how much do you actually want to spend on it you know the key really to valuing real estate is comparable sale you know Real Estate Appraisers are looking at comparable sales real estate agents who are telling you what they think you should list a property for are looking at comparable sales I think Zillow is a really good tool again not so much for their estimate but for looking at some comparable properties that have sold and you can even use Zillow to narrow down and say just show me land or just show me homes just show me land over five acres you can set those criteria and only see comparable sales that you know fit some set of criteria to fit the property that you're looking at you know real estate agents can also be a good good aid in valuing properties in addition to giving you their opinion they can do something a little more formal what's called a BPO or broker's price opinion you know which is sort of an agent giving you their estimate on what they're valuing the property and what they would list it for and then certainly if you're serious about a property and really interested in putting some money into it you can order an appraisal from my licensed real estate appraiser and a National Association of Realtors has tools on their website to help you find an appraiser if that was something you wanted to do understand the zoning so you know zoning really sets what you're able to do with the property usage of the property so here's the zoning guide for a particular County and this is just one page of their however long it is ten twelve page zoning guys a lot of different zoning code so you know I hear people say well property is you know residential well residential is sort of the category of zoning but there are much more specific zoning codes typically attached to the property so here are just some examples of residential primarily residential zoning you know within this particular County and that can have implications for the property so let's say we're looking at a five acre parcel of land that had a ten zoning which certainly can happen in a tax sale so what we would learn from zoning guide is you have to have at least ten acres in order to develop this property but you're looking at only a five acre property and you'll be able to develop single-family residential uses so that has some implications that means you're not automatically going to be able to start developing the property but that could still have other uses so maybe you're buying the property to try and sell it to adjacent property owners maybe you think you'll also be able to buy some of the adjacent properties so that you can make up ten acres also in many cases you may be able to talk to the county about either a zoning exception or getting a property Riis owned now some properties are more likely than others to be able to get res owned you know certainly a single-family residential in a suburban area you're unlikely to be able to to zone so let's say commercial purposes but these are all things that you can talk with the County Planning or county zoning office about and you know you can always call them up and tell them you're looking at a particular property in a certain area and this is the zoning and this is what I'm thinking of doing and can they offer any guidance on how likely you would be able to be to get a property rezone dan to change to another sort of usage I mean if as knowning is sort of it's been that way a very long time and may not make sense for that area you're certainly more likely to be able to get a property resumed holding costs holding costs are essentially the cost associated with the time that you owned the property and there are some common examples of this so certainly the the taxes are none obvious holding cost if you own a property for three years you're going to have to pay three years of property taxes on it if a property is part of a homeowner's association or property owners association you'd want to understand what the dues on that property are that's something you would also be responsible for certainly the longer term approach that you're taking to a property the more significant the holding costs are if you're buying a property to renovate and resell in a 90 day time line you're less concerned with sort of what your holding costs of the property are if you're buying property to hold for long term appreciation or to pass on to your children you really want to understand what your holding costs are because that's really the cost you're going to pay over the time that you're owning the property likewise if they're structures on the property that's something you would want to factor in that you're going to have to maintain on the property over time also some properties especially more suburban or urban properties that are have grass on them you want to factor in that you may have to mow the property and keep it free of weeds and garbage you know property like we looked at in a in Sutter County that was out on that Peninsula unlikely that a property like that would require much maintenance it was a trade lot no sort of you know on a remote Peninsula there where there weren't any homes on that peninsula unlikely of this county is going to ask you to do much to that property but you know certainly when we have our Los Angeles County sales a couple times a year and we have home sites in the suburbs that you'd be want much want to be much more mindful of the fact that you need to be out there mowing the lawn if it is a grassy lot have an exit strategy and I really can't emphasize this enough before you buy property you want to have your plan in place for what you're going to do after you once you own the property and an exit strategy can be all sorts of things I mean just saying that you want to buy a property for long term appreciation and you understand the holding costs you want to buy a property you know in the someday down the road to pass on to your children that's fine if you have a plan for that then that's an exit strategy what you never want I never want to hear someone say is you know I'm going to buy the property first and I'll figure out later how I'm going to make money with it or what I'm going to do with it so some common examples of exit strategies that you know I speak with a lot of tax cell buyers some of the common strategies that I hear certainly buying homes to renovate and either rent out as an income property or to resell for a profit would be a common strategy for improved properties on land certainly land development the common strategy also long-term land speculation there are also a lot of people who go in and buy tack sell properties at a discount and resell them just as is and there are plenty of people who buy tax sale properties and sell them on bid for assets even properties that were purchased unbid for assets tax sales where the you know the format's not very user-friendly but when they put it up for auction and add pictures and better information they've been able to sell it for a higher price and realize a profit and I think we're going to cover that on one of our next few webinars how to buy and sell tax sale properties profitably so visit the property definitely something I recommend yeah so we looked on the you know Google Streetview er I think it was Bing Maps on one of the homes that we could see from from a couple of years ago and again even if that was from a year ago I always recommend going out and seeing the condition of a structure really right as you're getting to the auction to see what condition property is in when it comes to land you know the gradient or the slope or topography of a property is sort of important to know that's why in many cases I recommend going out and actually visiting land as well I've seen in the Los Angeles County auctions that we've done we've had properties that on satellite imagery the land looks really good from outer space but when you actually get out there and you're standing at the base of this you know property that's up in the hills in LA you suddenly realize wow this thing is a lot more sloping than I realize and leveling the lot to be able to develop it and put a home on it is going to be a more significant expense than I was anticipating also going out and seeing the property can really give you a sense of the neighborhood which before you're going to put a bunch of money into the property certainly a good thing to know and to understand so title tax sale properties do not have the guarantee of clear title and that can vary state by state and county by county what are the implications for title so the two areas of title that I think you want to look at our number one what is not expunged off the title at tax sale so for example in California in many cases things like code violations and weed abatement these kind of governmental leaves survive the tax sale process so if you're looking at a property you know I gave the example in Los Angeles of you've got a suburban home site that's grassy and whoever previously owned it obviously didn't pay the taxes in years so they didn't mow it either and the county came out at some point and said you know this is becoming a nuisance the grass is two feet high we're going to mow it we're going to attach a you know two hundred dollar bill to the property and now with penalties it's a four hundred dollar bill if you buy that property in many cases that weed abatement lien is still attached to the property so you certainly want to do some research on the title and see if there's anything attached to the property that you would be responsible for I always recommend reading the county terms of sale to see what is it usually gives you some guidance on what is and is not expunged off the title from the tax sale process for this particular County the other area is titled defects so for California tax sale properties the tax sale process creates a 1 year title defect meaning that title companies will not insure title within one year of a tax sale and for many companies they'll actually wait several years past that just because title companies tend to be very risk-averse before they'll insure title so if you are buying the property you know for long-term appreciation that's fine the defect will disappear over X number of years and it won't be an issue for you if you're buying a California property to renovate and resell in a 90 day timeline now you'll probably have a problem on your hands because the new buyer is going to want title insurance and that title defect may prevent that from happening but there are ways around so real estate attorneys can do what's called a quiet title which can remove the defects and now their property is eligible for quiet title I'm sorry eligible for title insurance there's also a company out of Orange County called tax title services their websites tax title services com they also have a similar process and they do it nationwide remove this title defect on tax sale properties so that it's immediately eligible for title insurance all right tip number 9 don't get emotional at the auction you know if you go to a live auction and the auctioneers you know tend to be a sort of lively Bunch they're trained in getting you to bid what is called bid with your heart not with your head get you really excited about the auction not thinking about how much you wanted to spend on it and thinking about your ego and not to lose the auction to someone else and that's sort of what auctioneers are trained to do on an online auction you don't have that same effect there's no encoding you to keep bidding but people still get too emotional and caught up in the auction plenty of times so you know my advice is this you're buying an asset this is an economic purchase come up with a number that you want to spend on the property that you it works for your exit strategy that you're going to make enough money or that you know you're comfortable at that price point you have that much cash to work with and then stick to your plan and don't start getting outbid and say you know what I don't want to go home at the end and I'm really going to start hiking this up and then after you win the auction you realize it's more money then you had to spend your wife's mad at you and you won't make enough of a profit on the property to to have made this a smart purchase so again then with your head not with your heart make an economic plan for the property and stick to it my final tip is double-check your work so it's very fast-paced at the end of a tax sale you may be looking at multiple properties you're typing in your bids very quickly I recommend when you're placing your bid very quickly double-check the auction that you're bidding on is the right auction and the bid amount that you placed is the right amount we have certainly had it happen a few times over the years if someone meant to bid 3,000 and they've been thirty thousand and you are contractually bound this is a legally binding contract the public entity and you cannot retract revoke or remove your bid you will be held to it if you're unable to complete the sale in most cases you would have to forfeit your deposit so we certainly don't want to see that happen you don't want to see that happen so after you place your bid it'll take you to a big confirmation screen just give a quick double-check right auction right amount and confirm it okay I know we've got a lot of people on the webinar Shawn has been gathering some of your questions together here and no probably won't have enough time to answer all of them but I want to take five minutes and answer a few questions and then Shawn will make some final announcement all right so one question was what do I look for in properties what do I recommend people look for in properties you know I'd say that that really depends on what your exit strategy is for the property you know what you're looking at is long-term appreciation try and look at some some census data some trends on what's happening in the area is this a growing area our property values rising over time here certainly if you're looking for a house to renovate and rent out what is the tenant situation like in this area so certainly think about properties that you're researching in the framework of the exit strategy that you have for those properties all right so question can I use financing to pay for tax sale properties so I'd say the short answer is that's very difficult to do and the top hurdle of why that's so difficult to do is if you look at the terms of our tax sales or really any tax sale the payment window is typically two to three days to pay in full the county is not going to give you extra time so you've got to make that deadline so if you've got 72 hours to pay for a property it's very difficult to have you know Bank of America you know send a payment for this tax sale property which is not immediately eligible for title insurance by the way you know within a day or two so that you're able to make this deadline so almost always this is going to be a cash sale unless you've got some really outside the box hard money lenders that you're working with so we have some questions about some of the tax sell properties they redeemed what does that mean what does that mean for you as a tax sale buyer so you know these are public auctions held on behalf of county government and they are you know mandated by state rules and so in California buyers typically have the ability to pay their taxes and redeem the property right up to the end of the auction essentially and people will come in and redeem their properties the day that the auction is closing I mean nothing nothing like waiting until the last minute so you know it's frustrating if you've done the research on a property you're prepared to bid on it you've already been on it you're you know the high bidder with four hours left of the auction and then it switches to redeemed that is the unfortunate nature of buying tax sale properties is that the previous owner or the owner really has the legal right to redeem the property up until the last minute and that will happen sometimes so question on any advice on researching liens yeah the liens liens are one of the tougher parts of due diligence there are certainly local title companies are a great way to go and if you start you know most tax sales are up for approximately 30 days you know followed by 48 hours of bidding so if you research properties quickly and getting some title search requests with the title company usually they'll be able to turn them around for you in time there's a company I've heard a number of tax uh buyers use pro title USA that has a fairly inexpensive title searches I feel like I've heard they're a hundred dollars or less but I haven't verified that if you want to do the research yourself best place to start is the recorders office many liens are recorded against a property and see what they have you know on record recorded you know I gave the example of the weed abatement lien sometimes those liens are not necessarily recorded at the recorders office but they're still attached to the property it's difficult to track those down so certainly code compliance department of a county along with the recorders office are the top two places I would recommend checking also the maybe the local public water company because in many cases water bills are not expunged from the property code compliance can tell you things like if there was a structure demolished if there was lawns mowed if there was weeds abated those sort of things would often be on record with that County's code compliance Department what else you got Shawn okay our our tax sale properties vacant will I get keys what do I do if someone's living there you will certainly not get keys from the county for a tax sale property because of course the county would not have someone's keys to the property if you buy an occupied property we looked at a home earlier in Sutter counties that certainly a few years ago look to be occupied and if you find that it still is the property goes to the end someone buys that property yes that is basically you now own a home that someone else is living in that you don't have a formal agreement on so really you're your two best options are to you know reach out to the occupant who you obviously have their mailing address and know where they are and see if they're interested in renting the property or refinancing the property back from you which I know many tax sale buyers have done successfully over the years if you just want them out then you've got to go ahead and do an eviction on that property which once you have your deed you can pretty much get started on right away doing an eviction okay I think we need to wrap there been great speaking with everyone if you can hold on another 30 seconds I'm going to let Shawn make some final announcements that other upcoming webinars but it a pleasure speaking with everyone thank you all right great Thank You Jessi and thank you all for attending today's webinar we really hope that this has been helpful for you before we go I just want to remind you all one more time that you can view the video for this webinar in the next few days as well as video of our previous webinar at youtube.com slash bid for assets once again we'll be sending out a survey in the next few days to hear from you and see what you would like us to cover in our next webinar so please participate in that if you can it will really help us out if you have some additional questions do feel free to get in contact with us you can go to the homepage of bit for assets and select the contact us tab show you the best email address and phone number to reach us at finally don't forget to subscribe to the bit for asset newsletter keep up to date on all of our webinars as well as some of our most exciting auctions like us on Facebook and follow our Twitter page at bid for assets tweet once again it's at bid for assets tweet thank you all again so much we hope you have a wonderful evening take care

Channel: bid4assets

Views: 14,708

Rating: 4.9224806 out of 5

Keywords: real estate, investing, online, tax sale

Id: tyHyxdwc444

Length: 49min 5sec (2945 seconds)

Published: Fri Oct 26 2018