Where to Find and Buy Government Seized Homes and Property for Sale Online & At Auctions
What is Government Seized Property?
You may have seen a segment on a news program or heard a friend talk about how to get great deals on typically expensive items. The most common form of government seized property is real estate. Next in line would be commercial property, cars, art, etc. As long as you have good credit and cash (most seized property is usually paid for with cash to expedite the sale), you can find some really affordable deals on real estate and cars. The process is completely legal and is not that hard to understand once you have found your local state's website with auction listings and real estate listings. You typically can do all of this for free.
Why is property seized by the government?
Property is typically seized by the government for one of two reasons, a person has committed a crime and is ordered to pay restitution to another entity, whether it be a person, corporation or government body. Let's say that Johnny Smith is convicted of committing insurance fraud but has spent all of his money on his Porsche, Ferrari and $500,000 yacht, the government is allowed, by law, to seize this property, and auction or sell it to collect whatever amount of money they can in order to help with restitution fees. Typically, the government wants to get rid of this property as quickly as possible to recoup funds and that is why YOU can get it at such a low rate!
The second reason why the government can seize property is also a form of committing a crime. It is one of the most commons types of government seizure; seizure of property by the IRS on a failure to pay taxes. Again, any personal property can be seized if ordered by a court, whether it be a personal art collection, a showroom of cars or a lavish mansion on 10,000 acres of land.
Where to Find and Buy Seized Property Online
You should never consider paying for an online directory of government seized homes. Since when does the government charge for a directory to buy property online? Never! Don't be fooled and make sure to do your search straight from the legitimate source. All sites you look at should have .gov websites.