Setting Bid Limits for Tax Lien Sale in Indiana
Hi all,
Just had some questions for the tax lien experts that have been around the block. I have never been to a tax lien sale and am planning on going to one in Indiana in a few weeks. I have never been to a tax lien auction so I have no idea what to expect. It's in a smaller county so I'm hoping that the competition will be less. I have a question about setting bids at a tax lien auction and what to expect at the auction. I've narrowed my list of properties I am interested in down to about 100 and am starting to take a closer look at each of them. Can someone give me a rough idea of what to expect in the following circumstances and how much competition there will be for these items?
1). A 160 acre parcel of land comes up for auction with back taxes of 10k. The property is assessed at a value of 200k.
2). A beautiful home assessed at 250k that owes 4k worth of back taxes
3). A home in a medium income part of town that is safe. Assessed at 58k and owes 3k worth of taxes.
Thanks,
Hobart