Is purchasing via Tax Lien/Certificate Auction a Good Move? - Posted by ak newbie

Posted by Stew NE on May 05, 2000 at 13:11:08:

I looked in to this area and went to an auction. Since each county runs their own auction under their own rules, each auction will be different. My personal view is that it is a good way to make interest above the norm(in some states). But not a great way to get property.

Is purchasing via Tax Lien/Certificate Auction a Good Move? - Posted by ak newbie

Posted by ak newbie on May 05, 2000 at 12:50:43:

My county is holding a very large tax lien/certificate auction sale next week. There are hundreds, maybe thousands of properties listed. Each listing specifies the assessed value of the property and the outstanding taxes to be paid to takeover the property.

I never done this before, but I visited some of the properties and found that some were undeveloped land lots, some were swamp areas and others were fully developed properties with real houses. Nice houses!

I understand that there’s a 6-month period following the sale of any tax lien that the listed owner can pay off the outstanding taxes and reclaim the property. But are there any other “land mines” to watch out for? Any hidden (and exhorbitant) costs to be aware of? In general, is this a wise way to get started?

I have my eye on a couple of the properties and would like some input from anyone having traveled this road before.

Thanks, in advance,

ak newbie

Re: Is purchasing via Tax Lien/Certificate Auction a Good Move? - Posted by Ben (NJ)

Posted by Ben (NJ) on May 05, 2000 at 13:30:30:

I would not just jump in blind. Read up on the subject, attend the sale and observe prior to bidding. Know your state’s laws inside out. Read Moskowitz’s “The 16% Solution”, also look at taxsales.com.