Get High Returns From Government Property Tax Sales And Tax Lien Properties
By Jason R
When you purchase property, whether it is vacant land or a home, you must pay the property tax to the government in your county. When you do not pay these taxes you are in default and the county has the option of putting your home or land up for sale. An auction is held and bids are accepted on the property. If you are the successful bidder, you must pay the amount by cashier’s check or cash, directly following the sale. If you bid on property at an online public auction, the payment must be received by the tax collector within 72 hours of the successful bid. This payment must be either a cahier’s check or electronically transferred. Where Can I Find These Sales?Currently twenty three states have property tax sales. You can find out if your state participates in these sales by contacting your county tax department or by checking online at one of the many sites that offer this service.In addition to public auctions to sell these properties, there are ways to purchase the property by utilizing what is called an over the counter sale. What exactly is this type of sale? It is a property that has been through the public sale and either did not have enough bidders or were not deemed worth buying. These are usually properties that the tax certificate is held by the county.If you decide to purchase an over the counter property, you have the added advantage of not having to outbid someone else and you still get the maximum interest rate should the original owner wish to pay their taxes to redeem their property.Sales are held at different times according to the state in which you plan to attend. Some have them once a year and publish the time and location in their local newspaper. Normally the sales are held at the county courthouse. Is It Worth It?If you decide to bid on a property it is quite possible that you could end up owning the property by merely paying the taxes. It is a win-win situation because the state government oversees the sales. The people who bid on these delinquent properties are providing a service to the county government. If people do not pay their taxes, the county does not have the money it needs to run their services. So the tax sales provide the money for people who do not pay their taxes.If you are the successful bidder on one of these properties, the delinquent tax payer has a period during which they may redeem their property by paying the amount of the taxes plus interest. So you cannot lose because you get your money back with interest. This is a very lucrative investment. Either you end up with the property which can be resold or you get a return on your money.This is a practically fool-proof method of investing. Every year people who purchase these tax lien properties have returns of anywhere from 15 to 36 percent on their investment.
About the author
Jason R Davidson owns and operates http://www.property-tax-appeal.net Property Tax Appeal. You could save money through a property tax appeal, visit our site for details. from http://www.FreeArticlesAndContent.com
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