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G.D. Haizlip
  • Atlanta, GA
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Are You Interested In Purchasing Tax Sale Properties?

G.D. Haizlip
  • Atlanta, GA
Posted Mar 16 2015, 23:17

What Are Tax Sales?  

In General, Tax Sales are Actual Sales of Real Estate Properties or the Actual Taxes related, associated, attached, or imposed on a Property - due to unpaid Real Estate Taxes or Delinquent Accounts.  The taxes are "due" to the taxing jurisidiction where the property is located and when those taxes are left unpaid the taxing jurisidiction has the authority or right to sell the property or the taxes associated with that property to the general public, banks, investors, etc.  in order to restore the accounts or properties back to the active tax roll.

Who Is Authorized to Sell Tax Sale Properties?

In General, Authorized Tax Sale Properties are sold by the Tax Collectors' Office, Collector of Taxes, Board of Commissioners, or the Tax Commissioners Office in the region where the Delinquent Properties are located.  Tax Sale Properties are also contracted-out and sold by Auction Companies, Attoneys-at-Law, Law Firms, Private Companies, and/or Sheriffs' Departments throughout the U.S. 

Types of Properties Sold/Offered at Delinquent Property Tax Sales

Due to Unpaid Real Estate Property Taxes or Delinquent Accounts, Real Estate Property of All Types is offered For Sale throughout the United States by Taxing Jurisdictions, namely, States, Counties, Cities, Towns, and School Districts that have the right or power to impose property taxes in their respective areas.  Types of properties include:

1.  Apartment Complexes

2   Commercial Lots

3.  Commercial Properties

4.  Mineral Rights Properties

5.  Mobile Homes/Lots

6.  Multi-Family-Dwellings (units)

7.  Single Family Homes

8.  Store-Front Properties

9.  Town Homes

10. Vacant Residential Lots

Earning Interest on Your Money or Acquiring the Property

The Fact is that, unless you are exempt from paying taxes, property taxes must be paid on Real Estate Property in the State(s), Counties, Cities, Towns and/or School Districts where you live. If not, the governing bodies by-law must either Offer the Property for Sale through what is known as a Non-Judicial Tax Sale, Judicial Tax Sale, Tax Deed Sale, Tax Lien Certificate Sale, Tax Title Sale or a Tax Foreclosure Sale. In addition, the general public (Anyone, including Banks, Investors, Companies, etc.) can purchase what is known as Certificates of Purchase, Tax Lien Certificates, Tax Titles, Tax Deeds, etc. and earn a lot of interest on their money.  Depending on the State, City, Town or Area, actual Real Estate (Properties) or any of the aforementioned (Certificates, etc.) can be bought for as little as 25.00 - $50 - $100 - $200 on up to $1000s' of Dollars.

In Georgia, for example, if you attend a Tax Sale and are the successful bidder on a Property in which taxes due were $1500.00, you automatically earn 20% on your $1500.00. That is an additional $300.00 you make (subject to the property being redeemed by the owner or anyone who has an invested interest in the property). This simply means anyone, including heirs, who is on the title at the time the property or the taxes were offered at Tax Sale. Often times, including banks on record, the property is not redeem. If this is the case or happens, than you do not Get Your Money-Back (nor do you get the 20% or the $300 that you may have expected. The Good News is, however, that you Actually do, by law, Get the Property that You Bid-on "Free and Clear" of All liens and Mortgages.

Note: If and it is not the case on all properties at all, but if the IRS has a lien against the property than they have about 180 days to exercise their right to do what they do. There are thousands if not millions of properties in the U.S. in which there are no IRS-Liens at all (on properties) that are well worth Investing, Owning, Bidding or Purchasing at Tax Sales. The Deals are amazingly - Endless!

Restoring Properties Back to the Active Tax Roll

Property Taxes is the main income or revenue generator for Governments. These necessary funds may go unpaid by Property Owners for various reasons (Death of Property Owner, Divorce, Relocation, New Jobs, Loss of Income/Wages, etc..). To restore properties back to the active tax-roll and/or to recover the back-taxes, Delinquent Real Estate Property Tax Sales of all types allow our state and local government(s) to continue to operate and perform the necessary activities or actions that are needed to serve all-citizens throughout each State, City, Town, etc.

Much Success As You Invest, MoneyMakers

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