Tax Lien Property For Sale – How to Find Them For Free
Selecting a tax lien property for sale is pretty easy. Finding a property which may be worth buying, especially in today’s economic climate, is a bit more hard. My goal with this brief article is to show you 3 alternative ways to find pending tax lien sales worth buying… as well as how to find them for free.
But first, the basics…
What are tax lien revenue?
A tax lien sale is when a government organisation auctions off any tax liens against a property towards recoup any delinquent taxes against the property. These income are usually conducted by the tax collectors office or the sheriff’s office.
It is important to note that there are two different ways for the governing administration to collect delinquent taxes. One would be this type of sale (tax lien sales), and the other is known as a tax deed vending.
In a tax lien sale, the investor is buying the lien itself. The winning bidder will receive a official document at the end of the auction that entitles the investor to collect payments for the delinquent taxes, often at a high rate of. This certificate also allows the investor to decide to foreclose on the property after a specified redemption period if the duty remain unpaid.
In a tax deed sale, the real estate once more is put on the auction block. The winning bidder takes possession of the property in the form of a tax deed.
Regardless if your goal is to invest in tax liens or to bid on tax deed sales, the first step is the same: Identifying paphos properties for sale that have tax liens against them.
Where are tax bill lien records maintained and recorded?
More times than not, tax liens are filed and maintained at the say level. This means two things for you as an investor:
1 . There exists a bit more legwork involved (these databases are seldom to the internet) 2 . If there is more legwork, there is a much higher option that you will find worthwhile properties
Generally speaking, the easier it is to find a rental opportunity, the less valuable it is. As my private coach always told me… “Always look for problem properties… and look which is where nobody else is looking. ” The best deals are always and the wonderful not many people know about, or the ones that not many consumers know what to do with.
With that said, this is…
How to find tax lien attributes in your state
1 . The county recorders office
This is the a large number of time consuming strategy, but is very accurate. Every county on the U. S. has a place where public record is certainly recorded. This would include things like deeds, wills, notices, mortgages and even both federal and state tax liens.
Many times you will encounter a computer on site where you can search across the records. The search for something like “tax lien” will usually uncover a vast variety of properties that you can then pay to print out.
2 . Tax bill collectors office
The tax collector usually maintains a long list of properties that are going into tax deed sale as well as qualities the state is offering tax lien certificates against. Give them a good call to make sure they maintain such a list, and it actually held at the Sheriff’s office. Then ask what the means is to get one of these lists. They may give you a bit of a hard time; simply just remind them that this information is public record and you should be all set.
3. Local Newspaper
As part of the sale process, the district must give “public notice” of all upcoming tax gross sales. These are always either before or after the classifieds. Deal with this section religiously… it is your new golden goose. Make note of the components that look interesting, and do your due diligence from there.
3. Subscription based list services
This is the only strategy designed to cost you some money… which is why I didn’t mention it early. Consider it a bonus.
Honestly, these types of services are a dime about. Some are better than others. The biggest benefit is the speed to get access to the information. Always look for ones that update quite often; generally speaking, locally based websites are better than national ones. If you do a basic search on Google you’ll get a list of plenty to choose from.