Comments for Tax Lien Sales Online

Comment on What You Need To Know About Purchasing Government Tax Lien Foreclosure Homes by Stop foreclosure fast

Stop foreclosure fast — Sat, 20 Feb 2010 10:04:46 +0000

Love your blog I’m going to subscribe hope you give more updates.

Comment on Finding A Home for Your Family By Tax Lien Listings by Tax Man

Tax Man — Sun, 17 Jan 2010 17:25:10 +0000

The IRS e-flie system is now open, most W-2s and 1099s will be in mail in the next couple of weeks. Is everybody ready for tax time?

Comment on What You Need To Know About Purchasing Government Tax Lien Foreclosure Homes by Signing Into a Tax Liens | Be Smart with Financial Issue

Signing Into a Tax Liens | Be Smart with Financial Issue — Thu, 07 Jan 2010 18:27:30 +0000

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Comment on Tax Deed Sales Vs Tax Lien Sales, A Rundown Anyone? by Investor

Investor — Sat, 02 Jan 2010 11:19:27 +0000

In a Tax Deed sale, the county sells full ownership and possession rights to the property. In a Tax Lien sale, the county is selling their right to the tax lien only, the buyer pays the delinquent taxes in exchange for a first lien position on the tiltle, ranking ahead of other mortgages and private liens, second only to state tax liens. The buyer receives a tax lien certificate, a penalty interest rate until the tax debt is fully repaid, and a right of foreclosure to take title if it isn’t paid.
Clearly you get a chance at a lucrative investment for a fraction of the cost of the Tax Deed option.
I thnk the annual sale in progress you refer to will be for foreclosed propertyor Tax Deed. You need to check out the terms at the Sale, conducted by a private company in Cook County case. Most states have a 20 to 25% deposit requirement, with the balance of the winning bid quickly (24 hrs to 10 days). My experience is that many properties revert back to the lender and many scheduled for sale get postponed or cancelled. There is also stiff competition from commercial company investors. You need to be up to date with the size of the other liens and judgments and/or any bankruptcy proceedings, and the redemption period allowed by the state code. Have heard of some good deals, but it’s not an easy choice for the new investor.

Comment on Should I Invest In Tax Lien Sales? by ocho

ocho — Fri, 01 Jan 2010 11:07:24 +0000

I have never studied or been involved in tax lien sales, but I can give some things to consider based on general principles.
(1) It is certainly possible to make money in tax lien sales. If it was not possible, the free market system is efficient enough that they would not continue.
(2) The market is also efficient enough that it is extrememly unlikely that there is very much “easy money” available.
(3) If you do not know what you are doing, it is also certainly possible to lose money.
(4) Whether or not you can make “good money” will depend primarily on your skill level. It will also depend on what you consider “good money” for the amount of time spent and the amount of capital put at risk.

Comment on How Can I Obtain A List Of Tax Lien Property Sales In San Diego County? by Mr. Fuzzywatums

Mr. Fuzzywatums — Sun, 27 Dec 2009 12:56:53 +0000

Try contacting the tax assessor’s office.

Comment on Is There Someone Who Is Familiar With Illinois Tax Lien Sale? by oliver s

oliver s — Sat, 26 Dec 2009 11:24:14 +0000

The time of the tax sale varies by county. You have to follow the regulations about notifying the last taxpayer on record for the property or other interest parties about redemption. If they do pay the taxes, you get that money with the interest. If they do not, you can get tax deed and possession of the property after 2 years. In the meantime, I assume that you have to pay taxes on the property. But read through the rules, and make your own decision.

Comment on Is There Someone Who Is Familiar With Illinois Tax Lien Sale? by efflandt

efflandt — Sat, 26 Dec 2009 11:21:29 +0000

You can probably foreclose on the property. Be prepared to pay off the second lien holder (for 2007 taxes).

Comment on Where Do You Find Out About Tax Lien Foreclosure Sales? by Rachel O

Rachel O — Fri, 25 Dec 2009 11:20:21 +0000

Tax lien sales are auctioned by the county. Check with your courthouse. Then, do your homework. You may buy a home for non payment of taxes, but there could be other liens attached including a mortgage which you would be responsible for. Presuming there aren’t any other liens, your legal expenses have just begun. You will get a tax deed from the county, but that does not give you clear and insurable title. Your attorney must file a court action called a quiet title suit. Only then would you have good title.
realtor.sailor

Comment on Any Small Investors Have Good Luck At Tax Lien Sales? by KYRealEs

KYRealEs — Mon, 21 Dec 2009 14:43:14 +0000

Yes, I am currently in a position to buy adjudicated properties in Louisiana(which is when people have lost their property due to not paying taxes.) Its pretty simple cause you can buy property directly from the city at a cut rate and renovate then rent or sell and make a profit