Have you been meaning to invest in tax liens?
Looking for an alternative to the stock market that will let you sleep at night without worrying about losing your nest egg?
Wondering how and where to get started?
Well there is no shortage of summer tax sales! If you think you missed the online tax lien sales because the Florida tax sales are over and the Arizona tax sales don’t start up until mid-winter… don’t let that worry you. There are plenty of sales going on right now and coming up shortly from now through September.
If you are interested in the online tax lien sales, but you’re afraid that you won’t be able to get liens at good rates with all of the competition, I’ve got some news for you. The Florida online tax lien sales may be over – they finished up by June 1, but the county-held certificate sales are going on now, and some of them are online.
These are the liens that did not sell in the sales earlier this year. They were taken over by the county and made available for bid on a first come, first serve basis. There is no bidding down the interest at these sales, and all certificates are awarded at the maximum interest rate – 18% per annum. The trick is getting in on these tax sales as soon as they open their doors to investors.
There are not a lot of good properties in these left-over sales, but there are a few. They tend to get picked over pretty fast though, so you want to register for these tax sales and get your bids in as soon as you can. Make sure you do your due diligence on these properties before you bid!
Cook County Illinois also has their tax lien sale coming up. And there quite a few states that have live tax lien auctions throughout the summer. There are sales going on this summer in New Jersey, Kentucky, Wyoming, Missouri, and Montana.
Tax deed sales are also going on all summer. The states of California, Michigan, and Florida have counties have online tax deed sales. The state of New York also has a few counties that conduct their deed sale online. The state of Arkansas doesn’t have online tax deed sales, but they do allow you to mail in your bids.
Pennsylvania counties usually have their Upset tax sales in the fall, but this year many PA counties have this sale scheduled for August or early September. Just make sure that you do your due diligence for this sale, because if you purchase a deed at the Upset sale you are responsible for any mortgages or liens on the property and there is no right of redemption. These are live tax sales that you have to attend in person. You can have an agent attend for you, but you do have to sign an affidavit attesting to the fact that you do not owe any taxes in the taxing district in which you purchase a deed.
If you live in Tennessee, Georgia, or Texas, you’ll want to attend their redeemable deed sales. Some counties in Georgia and Texas have tax sales on the first Tuesday of every month. Counties in Tennessee only have their tax sale once a year, but this is the time of the year they do it.
Where are you spending your vacation this summer? Why not look into the tax sales?