Where can I purchase Cook County Illinois tax certificates or tax liens available for resale?
Dec 29, 2009 in
Questions And Answers
I am interested in purchasing property tax certificates in Cook County Illinois. I did not attend the tax sale auction, since I heard that there is too much competition that drives the interest rate to 0%, so I would like to buy a certificate in the secondary market or over the counter. I know that tax certificates are a good investment and tax buyers are very secretive and uncooperative to competition. Is there anybody that resells tax certificate in Chicago or Cook County? I am looking for certificates that will probably not be redeemed, so I can file a tax deed petition on them. Thanks much for your answers.
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One comment
alan_grenspan on December 29, 2009 at 8:53 am
You are right, the competition has been increasing over the last years, and large funds are buying up the certificates on delinquent property taxes at 0% hoping that the owner will not pay and they will be able to foreclose on them.
The only company that offers tax certificates in Cook County IL is http://www.taxresales.com . They also offer real estate information report about foreclosures and other leads.
I get their tax deed report, and that report shows that about 300 properties per month are sold via a tax deed, meaning tax buyers have foreclosed on them. I have bought properties from tax buyers and a pretty good discount, but now I am purchasing tax certificates myself.
They used to have the lists online, but now it seems like it is under construction. Also, you need to request a price, and the delivery for the certificate is about 40-60 days, because I believe this company is also brokering certificates from other buyers.
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