Has anyone ever purchased property in a county tax lien sale?
Dec 20, 2009 in
Questions And Answers
I will be attending our county’s tax sale in October, and I was wondering if anyone has any experience buying property at such a sale. Was it a good or bad experience? Did the defaulting owner ever redeem the property? Or did you end up with a quitclaim deed, and if so, how long did it take? Thanks!
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One comment
John Rosa on December 20, 2009 at 1:17 pm
Yes, I have been to many auctions. I have taken deeds (after 2-3 year redemption periods), I have received interest returns from tax liens that were paid off (usually in 3-4 months). It is a very good investment vehicle.
As for your questions, there’s so many rules that you have to give some more info on what particular state or county you are looking at. Also if you want more info on how to invest the right way, you should look into buying a book called the Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days by Don Sausa [isbn 0978834682]. Amazon has the cheapest price on it, but it is by far the best tax lien book I have ever read.
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