Hooked on Overages!

OK, so you saw how “overages” are created when more is bid for a property at auction, than what was owed. And that the former owner of a property in this situation is usually entitled to these excess funds. In Strategy #8, we learned that if we bought a property prior to the tax sale, and purposely let it go to the tax sale, WE could collect the overage ourselves – after all, we’d then be the owner who “lost” the property. But in our case, we had only paid $50-$200 for the deed directly from the owner, and may have made over $10,000 (sometimes up to $50,000 or more) in cash by applying for the overbid that is now due us.

What About All the Other Owners?

Of course, we probably will not have been able to buy most of the properties that generate an overage at the sale. The overages from those properties will be due the former owners. However, the owners very well may never hear about it, or know they’re entitled to all that cash! Why? -The counties often keep it quiet because the county gets to keep the money if it’s not applied for within a short time (a few years) -The owners weren’t getting notices of the tax sale, and therefore wouldn’t learn of the surplus either -The owners had no idea that the system could produce a surplus they might be entitled to -The owners could be deceased -And a million and one other reasons.

You, the Found Money Pro

How do you make a business out of this? Help all those other owners find their money! Here are the basic steps: 1. Get a list of all the funds on hand from the county (it’s public record) 2. Find the owners – using the internet it’s possible to track down more and more people 3. Make contact and offer to recover the funds for a contingency fee of about 40% 4. Submit the proper paperwork to the county and receive the check 5. Pay the owner their share, and keep yours! You can make astounding profits recovering these checks. Below are a couple of the dozens and dozens of checks our students have received: JohnFox9-16-2011 To find out more about Hooked on Overages, including a free insider’s guide and video course, visit http://www.special-offer.hookedonoverages.com/

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