Upcoming Deed & Lien Sales
Investing in Tax Certificates & Deeds can be lucrative but forget the hype!
It is not get rich overnight! You can not get something for nothing!
In s sense, you are investing in real estate with a guarantee! You will find that the majority will be redeemed!
To take the property when it comes to tax certificates it can be a daunting process at times!
You must always do your due diligence when making any investment.
Every State has Laws, regulations, and statutes regarding Tax Certificates & Deeds Investing and they change regularly so do check your county and state Laws, regulations, and statutes before investing.
Questions you should ask the Tax Authority
1. Who handles tax liens for the county (Treasurer, Sheriff, Tax Assessor)?
2. Does the county use tax lien certificates or tax deeds?
3. How often are tax sales held?
4. When is the next auction?
5. Where will the tax sale be held? (get the street address, building name, floor and room number)
6. Where is public notice of tax liens posted (does the county publish a list, will it be published in a newspaper)?
7. Does the auction take place in one day or over several days?
8. What method of payment is required?
9. Is it possible to buy tax liens through the mail?
10. If all the liens are not sold at auction, do you sell them daily over the counter?
11. How does the foreclosure proceed if the property owner fails to redeem the property?
a. Who pays for the foreclosure?
b. When can the foreclosure procedure begin?
c. Does the foreclosure go through a public auction?
d. Do all lien holders need to be notified before foreclosure?
e. What kind of deed is given in foreclosure?
f. Can this type of deed eligible for title insurance?
g. Are all other liens removed from auction and sale?
12. What interest rate or penalty must be paid on a tax lien (your income)?
13. Can a person be put on a mailing list to get future notices of tax liens?
14. Are there tax liens available for purchase today?
15. At the tax lien sale, what are you bidding on? (In some states, you bid the interest rates down, in others you bid the purchase price up, in a few you bid on the percentage of the property that the lien applies to).
16. Is there a redemption period and how long is it?
Redemption - A lien redeems (pays off) during its redemption period and you make back your principal, fees, and a percentage return on your principal investment. Redemption periods vary state to state and range from a period of one to four years.
Foreclosure - taking possession of the underlying property after the property owner has failed to redeem within the redemption period. Foreclosure laws vary from state to state and difficulty of foreclosure is just as varied.
Tax Deeds issued by the Clerk of the Court - When redemption has passed & all subsequent or prior taxes are satisfied, if need be, the right to file deed becomes realized. Some states the deed is immediately issued upon filing. Other states the deed is then placed on the tax sale roll for the deed to be auctioned at a tax deed sale.
The actual sale may not occur for that particular property for months, but most states you will earn the maximum interest on total taxes owed during that time period.
You may still be outbid at the tax deed sale, the sales are held as an open sale. They will then in turn pay everything that is owed to you.
Most Title insurance companies will not insure a tax deed. If you want to sell the property and offer title insurance, you must file a Quiet Title Suit. The Quiet Title process is not complicated.
NACo collects information on counties, such as county officials, courthouse addresses, county seats, cities in a county. To see a listing of the counties for a state, select a State from the map or from the pull down menu. You are then able to get more detailed information on counties.
Upcoming Deed & Lien Sales
DALE CO LIEN 4/27/2005
HENRY CO LIEN 4/18/2005
JACKSON CO LIEN 4/26/2005
MACON CO LIEN 4/19/2005
PICKENS CO LIEN 4/25/2005
CITRUS CO DEED 5/4/2005
MIAMI DADE DEED 5/5/2005
MIAMI DADE DEED 5/18/2005
MIAMI DADE DEED 5/19/2005
MIAMI DADE DEED 5/4/2005
LAKE CO DEED 4/26/2005
LAKE CO DEED 5/17/2005
LAKE CO DEED 5/3/2005
MARTIN CO DEED 4/13/2005
ORANGE CO DEED 6/21/2005
ORANGE CO DEED 6/28/2005
ORANGE CO DEED 6/7/2005
OSCEOLA LIEN 4/26/2005
OSCEOLA LIEN 4/12/2005
BRACKEN CO LIEN 4/9/2005
CASEY CO LIEN 4/9/2005
MENIFEE CO LIEN 4/15/2005
METCALFE CO LIEN 4/22/2005
OWEN CO LIEN 4/12/2005
BRADLEY BEACH BORO LIEN 4/7/2005
COLTS NECK TWSP LIEN 4/12/2005
LINDEN LIEN 4/12/2005
MAHWAH TWSP LIEN 4/21/2005
MANCHESTER TWSP LIEN 4/6/2005
MARLBORO TWSP LIEN 4/14/2005
MONROE TWSP LIEN 4/12/2005
MONTAGUE TWSP LIEN 4/21/2005
QUINTON TWSP LIEN 4/7/2005
RUTHERFORD BORO LIEN 4/6/2005
CLARK CO SHERIFF'S SALE DEED 4/29/2005
CRAWFORD CO SHERIFF'S SALE DEED 5/13/2005
CRAWFORD CO SHERIFF'S SALE DEED 5/20/2005
DARKE CO SHERIFF'S SALE DEED 4/29/2005
DARKE CO SHERIFF'S SALE DEED 5/6/2005
DELAWARE CO SHERIFF'S SALE DEED 5/11/2005
DELAWARE CO SHERIFF'S SALE DEED 5/4/2005
FAIRFIELD CO SHERIFF'S SALE DEED 5/6/2005
FAIRFIELD CO SHERIFF'S SALE DEED 4/29/2005
FAYETTE CO SHERIFF'S SALE DEED 4/22/2005
FRANKLIN CO SHERIFF'S SALE DEED 5/6/2005
HANCOCK CO SHERIFF'S SALE DEED 4/19/2005
LAKE CO SHERIFF'S SALE DEED 4/25/2005
LAKE CO SHERIFF'S SALE DEED 5/2/2005
LORAIN CO SHERIFF'S SALE DEED 4/13/2005
MEDINA CO SHERIFF'S SALE DEED 4/22/2005
MIAMI CO SHERIFF'S SALE DEED 5/11/2005
MONTGOMERY CO SHERIFF'S SALE DEED 5/13/2005
MONTGOMERY CO SHERIFF'S SALE DEED 5/20/2005
OTTAWA CO SHERIFF'S SALE DEED 4/22/2005
OTTAWA CO SHERIFF'S SALE DEED 5/6/2005
RICHLAND CO SHERIFF'S SALE DEED 4/15/2005
SHELBY CON SHERIFF'S SALE DEED 4/22/2005
SHELBY CON SHERIFF'S SALE DEED 4/29/2005
SHELBY CON SHERIFF'S SALE DEED 5/6/2005
WASHINGTON CO SHERIFF'S SALE DEED 4/15/2005
BRADFORD CO DEED 5/4/2005
PAGE CO LIEN 4/6/2005
RUPERT LIEN 4/14/2005
one thing to check on that i don't think i saw in your post was bankruptcy problems. good post lots of info. how would one check on bankruptcies? IRS liens could be a problem too, no? thanks again.
One thing to remember if you are going to buy a lien on a unimproved lot.
Is the lot 'worthless'. (ie too narrow to build anything on, is a drainage ditch, very odd shaped with no buildable are, etc)
The county/state doesn't care about what they sell you, they simply want to collect past due taxes. Very often a owner who has a piece of property that is 'worthless' will not pay the taxes on that land as it is not worth it. This land will end up in the lein auction. If you buy this lien the owner will most likely not redeem and you will end up owning the 'worthless' property yourself, and then be responsible for the taxes etc.
There is an excellent book on the subject of tax leins and deeds called:
"Profit by Investing In Real Estate Tax Liens" By Larry B. Loftis, Esq
I found this book to be very useful and it explains how each state works, examples of what to do and what not to do, tips for the actual auctions, and tons of emamples from the author's own experience. (its actually kind of funny some of the leins he has shown in this book, mcdonalds; walt disney world; bellsouth mobility; united states postal service; and even the united states of america have had leins on them at one time or another.)