The Trappings of Seized Real Estate

By: Joe Cline

The position that you take on how to make money from real estate really depends on what method or resources that you are using and how well you are using them. This means that you should take due care in deciding the course of action that is going to be best suited to you. Making money from the real estate transactions can be tricky and even trickier when you consider the fact that there are those out there looking to scam you.

One of the most common scams is the seized real estate system. This is the case where you are being told that you can purchase homes for one thousand dollars or less that have been seized by the government for a variety of reasons. Most often these places also list cars and boats at the same time for some ridiculously low price. However, what they are not telling you is that they are providing you with information that anyone out there can get free of charge with a few phone calls or an internet connection.

As such many people fall into the trap of the seized real estate scam and they are out big time money because of it. What you are actually buying from these guys are lists that show times and dates when the seized real estate sales will take place. Likewise you will be getting lists from other seized property such as cars, boats and so on. Anything that is seized by police in drug related offenses and such is sold at public auction. You can make money from this without having to buy a list from anyone.

Why is this possible? Well that is because these are public auctions and the information is made public. All you have to do is know where to look for the information if you want to attend. Actually you can easily accomplish this with just a couple of phone calls. Nearly every piece of information that you would need can be obtained just by talking to the right person and all without having to spend a dime.

It is important that you spend considerable time examining the entire process of the scams that surround seized real estate as well. Some of the criminals are getting clever and have actually found a way to make more money. They are sending out notices of sale for seized property and then getting several attendees but the properties for sale are not theirs. You are bidding on something that is not for sale through a legitimate auction. A recent sting operation netted twenty arrests of men and women involved in this very same scam.

So as you can see there is a lot that you have to work around when you are looking for some seized real estate. These auctions take place rarely because most of the jurisdictions do not get enough seizures to warrant extra sales. You should contact the local police department if you want to find about future auctions of this type.

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