Indiana Tax Sales

[Hobart King]

Hi Guys,

I'm planning on going to at least one Indiana Tax Sale coming up in the next few weeks. You can check out all the dates and times here (http://www.sri-taxsale.com). I have a few questions for those that have been around the block in Indiana:

1). How far above the minimum bid does the overbid usually go?

2). Is there a flat fee you must pay to the county to purchase for each tax lien purchase?

3). Can someone spot check my assumptions below? Assume you are bidding on a property with 10k of back taxes/assessments. You end up winning the tax lien with 20k. Assume that the property owner pays it off a year later right before your right to foreclose.

Total Return= 10K *15% Penalty + 10K * 10% interest= $2,500 less any fees to the county or auction company. 

4). After you purchase a tax lien in Indiana does the holder of the tax lien need to take any action before the 1 year redemption period? 

Thanks in advance,

Hobart King