Buying houses for back taxes in Ohio

Tax Liens & Mortgage Notes
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Buying houses for back taxes in Ohio

Austin Wood
Specialist · OH · Member since 2019 · 59 posts · 18 votes

Can anyone walk me through the process of buying houses for the back taxes in Ohio? How is this done? What are some pros/ cons? Any info would be spectacularly appreciated. Thanks in advance!

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JM Payne
Rental Property Investor · Member since 2018 · 207 posts · 225 votes
7y

It is specific to the county itself in Ohio, so your first step is to identify the county you are interested in, then call the assessor's office and ask them about their specific process as well as for their list of current available properties.  I hope that helps.

- JM

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  • JM Payne
    Rental Property Investor · Member since 2018 · 207 posts · 225 votes
    7y

    It is specific to the county itself in Ohio, so your first step is to identify the county you are interested in, then call the assessor's office and ask them about their specific process as well as for their list of current available properties.  I hope that helps.

    - JM

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    7y

    @Austin Wood

    If you are trying to get them from tax sales I believe they do not sell them to the public but sell them off in bulk.

    There would be some leftovers I am sure but my guess is most of those properties are not worth $500.

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  • Adam Walter
    Rental Property Investor · Mason, OH · Member since 2015 · 97 posts · 136 votes
    7y

    I buy Tax Foreclosures in Southwest Ohio in the Greater Cincinnati area.  Hamilton County sells both Tax Liens in bulk to institutional investors who then foreclose after they hold them for a year or more.  Hamilton County also forecloses on individual properties which is open to the public and is similar to a mortgage foreclosure.  The big difference between mortgage and tax foreclosures in Hamilton County is that the winning bidder of a tax foreclosure  is required to pay the winning bid in full with a cashier's check in 24 hours.  If no one bids on the property, it's offered again in 2 weeks at the same price.  50% of the properties are vacant lots and not worth the amount of taxes on them, but there can be good deals there as well.  Butler and Warren Counties winning bidders pay 10% and can write a personal check.   I don't think that Butler and Warren County sell the lien; they just foreclose.

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  • Robin Cox
    Rental Property Investor · Hamilton, OH · Member since 2016 · 31 posts · 30 votes
    7y

    We bought 2 houses at the tax auction in Butler County (Southwest Ohio).  We bought them at the auction in the Butler County Courthouse.  They alternate foreclosures and tax sales every other week, usually.  Go to 

    https://www.butlersheriff.org/general-info/sheriff-sales/

    This will give you the list for "tax sale" and "non tax sale" properties.  @Adam Walter is correct in saying you only need 10% when you win the sale and it can be a personal check.  Then it has usually been 30-45 days before you get notified that the process is complete and you go to the Sheriff's Office and pay the balance with a certified check in the lobby of the Butler County jail, lol.  

    Both houses were total gut jobs.  The first we just finished flipping and made a nice profit.  The second we are still working on but will en up being be a rental. 

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  • Dan Sarao
    Investor · Cape Coral, FL · Member since 2019 · 135 posts · 41 votes
    7y

    You can definitely do the leg work yourself by finding the properties, marketing to them and locking them up under contract.  In other words find them and buy them before a tax sale or auction even happens.  If your focus is not researching properties, marketing or knocking on doors the easiest way is to just work with and buy them from a firm that specializes in finding off market properties such as these. 

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  • Bob Prisco
    Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
    7y

    @Austin Wood so you want to purchase the tax lien, correct ? ,  I have purchased about 100 this way in the Cleveland markets, there is no con,,, just need to know " what you are doing " . BTW, if you are wanting me to teach you how, well then I would be creating a competitor, . There are far and few between . Do  you own and in the cleveland markets ? 

    Good Luck 

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    7y
    Originally posted by @Austin Wood:

    Can anyone walk me through the process of buying houses for the back taxes in Ohio? How is this done? What are some pros/ cons? Any info would be spectacularly appreciated. Thanks in advance!

     The cons with buying at auction are that you've got to go in blind and pay all cash. You do not get the opportunity to see the inside of the home or get it inspected or anything of that nature. So you're probably going to win some and loose some. Good business model if you're experienced and well funded. Not so much if you are new to the game with limited capital and experience.

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