tax sales houses - Posted by donn ruk

Posted by Ronald * Starr on August 12, 2001 at 14:01:16:

Gabe-------------

John Beck calls NY tax sales “Public Oral Bid Auctions.” This is the same category into which our CA tax sales fall. The county (or probably city in NY) auctions off delinquent properties and you get a deed for the properties.

In NYC, only the city can bid on the properties. They then resell some of them in a public auction. In other counties you should be able to bid on and, if successful, buy properties.

I found an auction company which conducts a lot of the sales for the cities and they have a web-site where you can see what is coming up. This would be very helpful to you. And, of course, other people. So the competition might make it hard to get good properties at the prices you can afford. But the only way to find out is to check into the sales. Either study the results from some previous sales or go to sales and see what happens.

I think you can find the company if you do a search on the internet, that’s how I did it. I think I searched on something like “delinquent taxes” or “tax auction” or something like that. I got about 200 sites, if I recall. Searching through I found that New York company doing sales. It might be faster if you searched for “new york auction” or something like that. You could also call around to some cities and ask the treasurers or tax collectors what companies do these sales.

You should be able to get vacant land or lots for less than $9K. However, you need to study carefully so that you only buy properties that will be attractive to some buyers. Many tax-sale properties are junk. Avoid those. Better to pass up a good deal than sink your resources in a bad deal.

The major issue is can you deliver clear title to the new owner? Check with title insurance companies to be sure. You may have to do a “quiet title” lawsuit to resell. This is sometimes expensive and ofter time-consuming. Figure out good ways to resell your properties.

You might get an improved property for what you have in the way of cash. I doubt it, given what I observe in CA auctions. But, again, the only way to know is to check into it.

Good InvestingRon Starr

tax sales houses - Posted by donn ruk

Posted by donn ruk on August 10, 2001 at 10:47:13:

I would like to find the easiest way to locate houses/owners
that have alot of delinquent back taxes. Is there a source
or method to locating these? Its very time consuming
calling every school district and township office. Also
alot of times they are reluctant to give information.

Re: tax sales houses - Posted by Gary Townley

Posted by Gary Townley on September 02, 2003 at 17:45:41:

Hi Guys. I wonder if you can help?, I work often in the US for an aerospace company and have only just learnt about tax sales. Is it a problem to buy as i live in the UK?. Where can i find more info about the law etc. Any info you can give would be great. Please send reply to my e-mail address, as I dont know when i will be near a terminal again this month. Thanks

Re: tax sales houses - Posted by Ronald * Starr

Posted by Ronald * Starr on August 10, 2001 at 16:03:35:

Donn Ruk----------

Please state in which state you are working. Every state is different.

I work tax sales regularly. I will help you.

What are you trying to do? What resources do you have to work with?

Good Investing and Good QueryingRon Starr**

Re: tax sales houses - Posted by donn ruk

Posted by donn ruk on August 13, 2001 at 13:33:58:

Thanks Ron
I appreciate your help
I live in Pa just a little north of Pittsburgh.
I would like to both buy tax sales as well as contact
owners prior to tax sales

Re: tax sales houses - Posted by gabe

Posted by gabe on August 10, 2001 at 21:50:52:

How about NY State? And about 9000 dollars? How can we start investing in tax sales houses? Does NY state allow people to buy the tax certificates? and what is the interest rate given? I have heard of 16% return on these certificates…

Gabe

Re: tax sales houses - Posted by Ronald * Starr

Posted by Ronald * Starr on August 13, 2001 at 23:47:13:

Donn Ruk------

Well, You still aren’t making clear what you are working with in the way of resources.

I suggest you search for the term tax lien on this forum. You will find some other posts where I have given advice to people. Your questions are likely to be answered there.

Pretaxsale buying can lead to some superbargains. I have had very little luck with letters or cards. Have had good success with telephone contacts. I haven’t done too much of the direct door knocking. What I have done has not been very successful. But that was years ago and I may not have knocked on enough doors.

Good InvestingRon Starr****