I hope all is well. I am new to this Tax Sale process. I missed the 2018 Tax Sale and 2018 Assignment Sale that was held last week. I wanted to know how soon can I purchase left over Lien Certificates for homes that were not purchased on either of the sales? I understand that the updated list can be purchased in mid June 201(I called the Tax Sale office). If I have addresses already in mind, can I purchase now?
What are the purchase options? Can I purchase online, by mail, or do I have to come in to the office?
Does anyone have any experience purchasing OTC (Over the Counter) Lien Certificates in Baltimore City?
I called the Baltimore CityTax Sale office and they were not any help. They mentioned that I should just wait until mid June to purchase the new list for $10. From there, I can choose which homes that want.
I already have a list from BidBaltimore.com of the home that are left over from the Tax Sale and Assignment Sale.
Thanks for any help!
I have purchased liens leftover from the tax sale in the past. As far as i know ou have to wait until the list comes out to buy them however if you know one is available there is no harm in trying (other than the time spent).
The only way I know to purchase them is to go to the tax sale office and buy them in person. You will need certified funds so you should go early, get the exact amount you need, then go get a cashiers check and come back. The lines can be long so if you are not sure you can get back the same day they can give you the amount for the next say. It changes every day due to interest.
Thanks for your response Ned! I’m going to wait until the new list is produced in mid June.
I am just going to choose about 10 homes from the BidBaltimore.com website and compare those to the new list. Hopefully, some of those homes are still on the new list in mid June and can help speed things up.
Ned, I have another question. once you pay the money, is there anything that I need to do that same day? Is it just a quick transaction ( just pay and receive lien certificate and walk out of the building?
@Ryan Dean no there is nothing to do that day other than pay. You don't even get a certificate to take home. They don't print the certificates until foreclosure time. Do keep your receipt though. You certainly want evidence that you paid for the lien.
Oh yeah they only let you ask about three liens at a time!. You can check on the bid baltimore site which liens have redeemed. Go to the documentation link and download the redemption file. The first two digits in a listing are the year of the tax sale, so make sure you are searching the correct year. The list will have several years of liens listed.
Following this thread ... my wife moved to Rockville from Texas recently and I will be following ... in Maryland at the moment and interested in tax lien certificates ... the tax sale in Montgomery Co was today [June 11] ... from the results of last year's tax sale it seems like hedge funds/WS dominate the tax lien sales in Montgomery Co ... would be interested in buying a few Baltimore tax lien certificates with the idea of the properties being redeemed but down the road could see buying TLCs with the idea of obtaining the property down the road and rehabbing the property ... seems like an interesting business in a risky area ...
@Daniel M. there are about 5,000 certificates left over from the Baltimore City sale in May. Most are junk but I am sure if you look hard enough there are a few worth buying. The good news is if you find something worthwhile you buy it for face value, no bidding.
@Ned Carey that's a daunting task ... if anyone would like to team up on this, I can invest some of my time ... I am not able to review 5,000 properties looking for diamonds in the rough in an unfamiliar city but I imagine some do have that expertise ... cheers and thanks again
@ned carey thank you for the heads up. I'm an experience investor but not with tax liens. Can you explain the bidding process a bit more in regards to tax liens. I recently purchased a property in the last Tax lien sale off of Preston. Super happy with location and I found a stellar attorney through my settlement company Clearview Settlement Solutions to do the foreclosure process, PM me if anyone else needs a recommendation. I noticed a trend of people bidding about a third to half the tax assessed value which was way above the taxes owed. Once the bidding is finished you immediately have to pay owed taxes via the bank account you provided to get into the auction. When are the premium that you bid over the taxes due?
Thanks David Hathaway, I also appreciate the solid advice you provide weekly on BiggerPockets to all investors looking into Baltimore, keep it up Ned, I'm sure we'll cross paths in the near future
Updated about 3 years ago
Information I received from the tax office today:
"The leftover tax lien list (assignment) is available the end of June at:
Cashiers Office (in person)
200 Holliday St
Baltimore, Md. 21202
The cost is $10.00.
For mail please send Money Order with self- addressed envelope."
If anyone would like to work on this with me to try to find potential 'good deals' in non 'war zone' areas or if anyone [@Ned Carey ] could provide a few leads from this overflow list, I'm all ears and willing to do legwork to check out the properties, etc.
@Daniel M. I don't have the list. I don't think there is much left of value. I didn't say there were none but you'll have to go through a lot of hay to find a few needles. However that is how I started.
I'm all ears and willing to do legwork to check out the properties, etc.
How are you going to do that from TX? One of the most important things to do especially with Baltimore leftovers is go by the property. Google street view while helpful is not updated frequently enough to rely on in Baltimore. Some of what is left that might have value, are the best of the war zone properties. They got passed over in the sale because they were in bad neighborhoods but they happen to be some of the best in the neighborhood.
There is an old thread here about buying an $800 lien in Baltimore in a pretty bad neighborhood and ultimately selling the property for $16K (title something like: another BP tag team deal in Baltimore.
Hi there Ned my wife has moved to Rockville and l will be following so would be able to scope out the area in Baltimore will order the list and start going through it thanks again dm
@Daniel M. OK that makes lot more sense. That is exactly how I learned Baltimore. I checked out properties on the leftover list. It was a lot of work but it forced me to learn the city extremely well.