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Updated about 9 years ago on . Most recent reply

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Steve G.
  • Real Estate Coach
  • New Zealand / USA
82
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296
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Tax Delinquent list - criteria?

Steve G.
  • Real Estate Coach
  • New Zealand / USA
Posted

Hi Guys,

Just looking at buying my first Tax Delinquency list, and as I've found previously, the criteria is what defines a good list . . . . .  or a GREAT list!

Having never bought a TD list, I'm interested to know what criteria I'm able to specify to the list provider, and what factors may refine the list to provide me with the most motivated sellers.

Looking forward to hearing your idea's.

Thanks

Most Popular Reply

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David Dachtera
  • Rental Property Investor
  • Rockford, IL
2,995
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4,613
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David Dachtera
  • Rental Property Investor
  • Rockford, IL
Replied

Tax delinquent properties are usually sold by the county, not the property "owner".

There are a couple ways they are sold: either a tax deed or a tax lien.

When you buy a tax lien, you are essentially taking the county's position during any possible redemption period during which time the owner may be able to cure the delinquency and pay the taxes due. If they don't, the county will have a process in place by which you can acquire title.

When you buy a tax deed, you are essentially buying ownership of the property.

However you get title, it is clear of liens other than municipal issues such past due bills for water and sewer, etc., though that does not settle the issue of possession since the previous owner might still be in the property and you may still have to evict them.

So, your list source is likely to be any source which mines the public records for specific information and then sells lists of properties based on the information you select, such as tax issues. For your local county, you can also visit the county recorder's office and research the public records yourself.

Hope this helps...

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