Posted by Bill Taylor on November 05, 2000 at 20:50:57:
I jsut bought a property in tax sale, the owner here in Indiana has one yr to pay the tax. If he does the penalty is 10% in the 1st 6 months after taht it’s 15% up to the yr. At that time if I have properly notified all parties that have and interest in the property i can file for the tax deed on the property. It is a property in a nice neighborhood worth 60000 and has been abandoned for over 2 yrs. We found out about it by accident and it looks real good for us to be able to take it. You know you are not buying a pig in a poke when you go to the sale you may select which property you are going to bid on and you pick the aras you want to buy in. There are usually properties in all areeas and we try to avoid the war zones.We also stay away from the toxic waste dumps.