Any information on this topic …companies who focus on this or when wil the actual sale take place in GA of FL
I have not been able to check it out yet, but I think Georgia does a tax deed sale every month. For the larger counties anyway. I think Florida does them in July, so you have to pick what counties you want to go to, cause you won’t be able to make all the sales.
I recently attended my first Tax lien sale in GA. It appears to be a great way to break into real estate investing with a guaranteed return. After some research, I found that the larger counties hold their sales the first Tues of every month while the smaller ones only conduct sales when they have delinquent taxes. The winning bidder is required to pay the full bid amount by COB the day of the sale (I think this is state wide.) If the original owners wish to redeem their property they have up to one year, but they must pay the winning bidder the original bid price plus 20%. A great place to start is the “Public Notice” section of your local paper and the county tax comissioner’s office.
T-6pilot did you purchase any Tax Liens at the sale you attended? If so was there a lot of people bidding on the tax liens? I have never attended a Tax Lien Sale and am currently contacting local municipalities to see when they will take place so I can attend.
Bretonb82,
No, I didn’t purchase any Tax liens…I wish I had gone prepared to though. There were four properties offered in the auction. Two didn’t sell because the county had tacked on a demolition fee which raised the starting bid above the assessed value. The other two were great deals. One property valued at $13,000 went for $650. The other valued at $30,000 sold for ~$5,500. Both had small houses on them that could be refurbed and then rented or sold. Each state does it differently so do some research for your state beforehand. There were only a dozen or so people at the auction with only four of those as active participants. There were at least three other individuals besides myself who were there for the first time. The experience was invaluable. All I can tell you is take a day off work, if you can, and go to an auction…They’re the first Tues of each month here.
T-6pilot
T-6pilot,
Hey thanks for all the info. I live in New Jersey and plan on contacting tax collectors of various cities to see when the tax lien sales are being held. I plan to attend as a spectatur and hopefully learn and be ready to invest in upcoming sales. Good luck
Bretonb82 and T-6pilot,
not going to post it here, cause i don’t want to solicite any websites, but if you email me, I can give you a link that tells you when the tax sales are and how often, %'s of interest and time of redemption period.
I will say it’s a sight that offers dvd’s and books to buy for a certain amount, but you can dig thru some of that and find this info w/out having to supply email addresses or anything. And, I’m definitely not trying to sell the guys stuff off of the site, i just found the site and know what’s on it.
Hope that helps.