Changes in Texas Tax Sale Requirements - Posted by Bill H

Posted by Bill H on September 06, 2003 at 19:49:57:

Ron:

Go back and go to the “Resales”…there you will find them. They are like your OK stuff…already owned by the county.

Bill H

Changes in Texas Tax Sale Requirements - Posted by Bill H

Posted by Bill H on September 05, 2003 at 19:56:57:

In doing research to go to Texas and invest in tax sales I found the following on the Travis County, (Austin Area) Texas Tax Sales Information Website.

Important Changes: The Texas Legislature has instituted new requirements for participating in a tax sale. Travis County is implementing those requirements effective beginning with the October 7, 2003 tax sale.

New Requirements for Participation in a Tax Sale

Starting October 7, 2003, two new legislative mandates take effect: First, in order to bid at a tax sale, an individual must first obtain a statement from the tax assessor-collector indicating they do not owe delinquent taxes in Travis County, or in a school district or municipality having territory in Travis County. The request for statement requires the individual to list all properties currently or previously owned, and the names as listed on the deed to each property.

Owners of property with delinquent taxes due will not be permitted to bid at a tax sale.

The fee is $10, and the qualified bidder will receive three copies of the statement. This statement will be good for 90 days from issuance date. This document is issued pursuant to the requirements of Texas Tax Code sections 34.0445 and 34.015 and is not a tax certificate issued per Texas Tax
Code section 31.08.

Call or visit the Tax Office at least 5 days before the sale to request this statement. You may download an application for the statement from this web site . This application can be mailed or brought in.

The second part of the new law states that the bidder at a tax sale shall be listed as grantee of the tax deed. This means a bidder may no longer bid on behalf of another; however, the law does not apply to corporations, partnerships, charities, or agencies.

Good Luck, Good Investing

Re: Buying (Oberserving) Tax Sale - Posted by JT-IN

Posted by JT-IN on September 07, 2003 at 11:48:59:

BillH:

Are you planning on bidding on properties in the Tx Tax Sale…? Just being curious here.

Also, if you are bidding, have you bought others in prior months/years Tax Sale auctions in Tx…?

If so, I might have an interest in attending one of these… simply from a spectator standpoint, and overall observe the “opportunity index” that exists. Let me know is this would be of any interest to you, to have a questioning observer along on one of your buying sprees.

JT-IN

Re: Changes in Texas Tax Sale Requirements - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 06, 2003 at 24:08:34:

Bill H--------------

Thanks for the update.

Yes, there is a big problem with people buying and paying cash for properties and putting them in the other persons name. Innumeral people have had people buying properties for them. This actually started in CA, where about 10 or 12 years ago it became manditory for people to have a notarized authorizatoin to bid for someone else at a county tax sale.

So now it has spread to Texas.

Good Investing**************Ron Starr*******************
p.s. yes it is a joke. or sarcasm

Re: Buying (Oberserving) Tax Sale - Posted by Bill H

Posted by Bill H on September 07, 2003 at 16:04:54:

JT-IN,

Yes, I currently buy in other states and am planning on buying in Texas. Have not decided just where or when yet.

I am currently in MT and when the snow gets so deep and the cold so bad I cannot stand it anymore I will head south for the winter and begin to work in TX.

I would have no objectin to your observing or participating. There are several more things which I must reconcile before I put my $$ on the line but see no formidable hurdles.

E-mail me from time to time and I will keep contact and let you know where and when.

Good Luck,

Bill H

Re: Changes in Texas Tax Sale Requirements - Posted by Bill H

Posted by Bill H on September 06, 2003 at 10:08:52:

Ron:

Check out the Travis county site…they got about 100 of your kind of properties up for resale.

http://www.co.travis.tx.us/tax_assessor/foreclosure/tax_sale_info.asp

Got snowed on up in the Rockies last week on the way back to MT.

Good Luck,

Bill H

Re: Changes in Texas Tax Sale Requirements - Posted by Ronald * Starr(in CA)

Posted by Ronald * Starr(in CA) on September 06, 2003 at 19:09:32:

Mike M–(MT)-------------------

Thanks for the reference to the Travis Tax Sale of Sept 2, 2003. Of course, looking at it today, Sept 6, I missed the sale. However, it is nice that they have the resulting sales prices.

I will be teaching a class on tax sale investing in a couple of weeks and may put this one up as an example to the students.

Of course, I have sworn off the TX tax sales, since I had my Waco house taken away from be by redemption. I don’t like having my properties takesn away from me.

Right, snowed in in the summer. There are interesting things that happen to you when you get out an do tax sales.

Good Investing*************Ron Starr***********

Re: Changes in Texas Tax Sale Requirements - Posted by Bill H

Posted by Bill H on September 06, 2003 at 19:55:35:

Yep, It snowed on us on August 29th on top of the Rockies coming to Moran Junction in the Grand Tetons and the South Entrance to Yellowstone Park. About halfway between Riverton, Wy and Yellowstone…Really fun…people stopping and kids out playing in it.

Lots different than 97 degrees and 97 percent humidity.

Good Luck,

Bill H