Anyone Bidding on PG County MD tax sales next Week?

9 Replies

Wondering if anyone is registered and going to bid at the Prince George's county tax sale in Maryland Next Week?  I just missed the bidder registration cut off and wanted to bid on 1 property that is going.  Please let me know if you are anyone you know is registrated to bid.   If someone is registered and can bid on this 1 property for me I'll cover their $150 non refundable registration fee and post the money for the back taxes on the property I'm bidding on .. So, it's a win/win for us both.

Thanks


Ray

Sounds like a great deal Ray. Too bad I'm not registered. Is their a link to the list of properties that are up to be sold?

It's complicated in PG county.. You are not buying the property only bidding on it and paying the back taxes.  here is a list  https://taxsale.princegeorgescountymd.gov/Property...

You have to pay a High bid premium if you bid over 40% of the assessed value of the property and you don't earn interest on that high bid premium. 

Ray

@Ned Carey

Don't supposed you know anyone that is registered for the PG county tax auction do you?

Thanks Andrew.. Not sure why that tagging doesn't work for me.

; (

@Ray Slack yes I was registered and would have been happy to put in a bid but I am just seeing this now. Don't worry, you didn't miss anything. The bids were silly high. The interest rate was bid down to about 4.5%, which in most cases means losing money if you have to foreclose. 

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

 Thanks for the reply.. I guess I should have tried to track you down since you seemed to be the expert.. : (  It was actually a vacant lot next to one that I had tried to buy a year ago and figured it had a good chance of not being redeemed.  At least, it would have been worth the $2k in taxes and the $2k-$4k high bid premium being tied up for 6 months on the chance they didn't.  

Is there a way to find out how bought the Properties tax certificate in P.G. county after the sale?  I know you can assign them and maybe I can "buy out" the person that purchased it.

Thanks
Ray

@Ned Carey

Thanks Ned- I'll reach out to them.