I’m a newbie considering bidding on a few properties at an upcoming tax title sale. I’m in Louisiana and I’m a little confused about the bid-down percentage method we use. In the unlikely event the owner goes the full 3 years without redeeming the property, how does having a lower ownership interest (say 1%, for example) in the tax title effect my rights to the property? What other liens would take priority over parish or city tax liens that could prevent me from from gaining full ownership? Anything else I should be aware of before I bid?
Most states have a redeeming period where the owner can pay the taxes and %% to you if you bought at tax sale. The only way you can get full ownership if the owner do not redeem within the time frame set by law…
Thanks RES. I’m familiar with the redemption process and cashing in on their penalties. I can’t seem to find anything though, that explains how having a lower ownership interest in the tax title can affect the tax buyer when/if they go to redeem the property after the 3 years. Do you know anything about that?
Red29, I do not do Louisiana Tax Liens. However: I wonder, how are you bidding down your interest in the property at a tax sale? The property is not being sold…only the tax lien is being sold.
Are you sure you are not just bidding down the interest as is done in other states.
Yeah, bidding down the interest. Sorry I used the wrong terminology!
What this means is that if and when the property matures to you as a bidder you get tht rate of interest on you money. The difference goes to the state.
there are many things for Appraiser, Capital Gains Tax…for more go on e-hameiri.co.il :shocked
Louisiana Tax Liens is a money maker. We buy the tax liens before they are made public.