Tax Sales

There is a Tax Sale auction at my hometown next month.

Just curious, how is the auction? I get a picture in my head of there being a lot of people with those numbered flags bidding on the tax liens or the properties.

Do i have to have to pay anything to enter in the auction? I'm doubt i'll bid for anything as i don't have much money but i'm interested in just being there and seeing how everything goes down.

Anyone have an idea? Or is it different in other states? (im from NJ)

Brand new to REI and just getting through Dean's "Be a Real Estate Millionaire" book. Actually, this is my first post. Recently found Sheriff's Sale from the Foreclosure Alert. Went to see the property (in New Jersey), but unclear on the process regarding Sheriff's Sales. I did search for it in the forum but only found that the "Bank sells the property at an auction". I would have assumed that this was a situation where the County was just looking to reclaim back taxes. So after this lengthy recap, here are my questions:

Aloha,

Does anyone know any information on Maui, Hawaii tax certificate sales, tax deed sales, land sales, etc. If so, please let me know where to find this information. Mahalo (Thank you)

Hi everyone,

Ok let's say you buy a Lien for $20,000 of delinquent taxes and the house's FMV is $100,000.

But lets say that house has a mortgage on it of a balance of $40,000. Does that mean that you have to cover not only the lien but the mortgage aswell?

I always wondered that. Just to let everyone know im new to the Real Estate Investing game so take it easy on me lol!

Thanks

Question. I found a property that has been foreclosed on and the bank now owns but the taxes have not been paid. Am I able to pay the back taxes just like any other tax sale?

Tim

I have gone down to the county treasurers office and gotten a list of homeowners behind in there taxes. My county does deed auctions and there is no redemption period. The next tax sale in august I believe. I want to know how to approach these homeowners. Some are behind by a few hundred to thousands of dollars. This would be another good way to acquire property low and then flip to other investors.Or perhaps I can make offers to the county for more than what is owed to get the deed. Could this be possible.

Okay, we're about to expand into tax foreclosures!!

We found an online list for "over the counter properties" in a nearby county (nearby our home county, not where we're currently staying, though).

Four properties, all failed to sell at auction, and county now owns them. Two of these we know right where they're at, and they insanely well priced, LOL!

Just to drop some feelers, we put an ad on the local craigslist with minimal description and the price. These are bare land (well, lots of trees), very steep, overlooking a beautiful river, minutes outside of town in a rural setting.

Today 02/03/09 NY Post published more than 100 pages of Tax Lien properties on all the boroughs. This was the definition of such which was also on the paper.

"When the City sells a lien, it is not selling the property. The new lien holder does not take title to the property. Rather, the lienholder purchase the right to collect the money that was owed to the City. Ultimately, however, if the property owner does not pay what is owed, the lien holder can begin a formal foreclosure proceeding incourt".

I live in a house that is paid for but my father in law as yet to take the house out of his dead mother's name and put it into either his or our names and we want the house in our name asap so i can fix my house and use the extra to invest in some other properties.
There is still money owed on taxes because he doesn't pay it all the time and they aren't really that much but my family could use the money really bad. How can I get this house in our names without spending alot of money and we will own it and maybe be able to give his dad some money to fix his own house.

What is a Tax Lien Certificate?