Ft Worth, TX · Member since 2017 · 37 posts · 4 votes
I was wondering if someone could tell me a little about tax sales or auctions and how to find them. Of course they vary by towns and different states but what are the procedures in going to a tax sale, as well as buying a tax sale. I know you have to sit on them and you will get either the deed if the taxes aren't paid or your money back plus about 20 percent interest? How much do they normally go for? Obviously depends on the size and the property but just a rough estimate? I plan on going to some in Fort Worth Texas or Indiana. Anyone mind if I tag along sometime? Thanks!
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
8y
You can write a book on this. First off, this is not really for beginners. There is lots of legal work that comes with buying back taxes. Most get redeemed by the way. Usually, every decent property gets redeemed and the junk goes to deed. If you are are rehabber, there are gems. First step is to pick your areas, second step is to understand the local process. In my region, there are attorneys who specialize in this and will take some time to get your started. (They love to train their future clients).