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Tax Lien Investing
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Investing in Tax Liens: What If I'm in a Deed State?by Joanne Musa Send Feedback to Joanne Musa Investing in Tax LiensMore Details about Investing in Tax Liens here.
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You really have two options, either find a way to invest profitably in your state or look at some of the online tax lien sales; you may even want to do both. First, find out what goes on in your state. Are there many deed sales? How often are the tax sales? How many properties are available and how competitive are they? You will actually have to go to some tax sales and see what they are like. Some states just don't have very much available. If that's the case, you may want to try the online tax lien sales. Other states may be very competitive and properties may get bid close to market value. If that's the case, there is still a way that you may be able to profit from tax deed sales in your state. Some counties give the excess proceeds -- that's the amount that's bid in excess of the minimum bid amount, back to the owner of the property. Here's how the excess proceeds strategy works in a nutshell. Instead of waiting for the tax sale, you contact the owner of the property before the sale and see if they are going to let their property go for back taxes. If they have already decided to walk away from the property, perhaps they would be willing to give you a quitclaim deed to their property for a small fee. You record the deed with the county clerk a few weeks before the tax sale. Let the property go to tax sale and after it is sold you apply for the excess proceeds. This strategy only works in a few deed states that give the excess proceeds back to the owner of the property -- not all deed states do this. So before you try this strategy, check with the county tax collector or county treasurer and make sure that the owner of record of the tax delinquent property can apply for the excess proceeds from the sale. Also, you do have to check for any other liens; since you are buying the property from the owner and not purchasing the deed at the tax sale, you will be held responsible for any other liens on the property.
Joanne Musa is a tax lien and tax deed investing expert who helps investors buy profitable tax lien certificates and tax deeds. You can find out more about the excess proceeds strategy of tax deed investing and get a Free mini-course at TaxForeclosureFortunes.com.
Keywords: tax lien investor, tax lien investing, tax deeds, tax liens, tax deed investing, tax sales, online tax lien investing, excess proceeds This article has been viewed 532 time(s).
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