Beginner With Tax Sale Questions In Ca.
Is there a way to get the ACTUAL property address up for auction? All I seem to find is Assessors #'s. Furthermore, in Ca., if you are the successful bidder on a particular property are all other liens wiped out? Also, is there a way to perform a title search without actually purchasing title insurance? There is a particular house I'm interested in that has 15k in back taxes that haven't been paid in over 5 years and is in "power to sell". I've tried to contact the owner from the info at the assessors office. Any suggestions? Thanks to anyone with info for me.
Trone--(CA)------------
Sure, go to the tax assessor's office with the parcel number and the property owner's name(s). If there is a situs address--street address--that is where you will find it. If there is no situs address, then get an assessor's parcel map of the area so you can locate the property when you are out on the ground.
Most liens are wiped off. Most tax collector's websites tell more about this. I'd suggest you study a few. I do recommend reading the state statutes related to collecting delinquent property taxes, so you really understand things.
You can buy title searches. It is better if you learn to do your own.
Well, it is hard to know what to recommend when you don't say what you have already tried that did not work. I might just reommend what you have already done. What have you tried?
Good Investing*************Ron Starr**********
With regards to other liens, it would be best to check at the Recorders office to see what has been record against the property. One example of things not wiped are IRS tax liens.
Depending on where you are in California, expect a lot of competition when this property comes up for bid. I have been to a few tax sales in SoCal and seen many people paying near FMV for house that were in very rough condition.
Once you get the property address, definately go check it out. I never cease to be amazed at how different properties look in real life vs. photo.
Good luck on pursuing that property.
SoCal is not the best place to invest in tax sales if you intend on bidding on the property at the auction. I went to Riverside County to register and there will be at least 2000 people there. I was bidder number 1896.
Many of the people doing research at the assessor's office do not know what they are doing. They are running title searches and do not know what to look for. Imagine what is going to happen on Monday the 16th when the buyer frenzy hits.
As echoed by the many experts on this website, it may be time for us investors to move out of california and invest elsewhere like Texas, Kansas, Arkansas, Nevada, and OK. Or we can adopt other methods to bypass the auction entirely either by mailing to tax delinquent owners before the sale or by waiting for the high bidders to cut there losses later. All have merit.
I'll give you a report on the Riverside County tax sale on Monday and Tuesday.
My time goes all the way back to the 50's and to tell you the truth, I am always amazed at the people who bid these sales with no idea of what they are bidding on and indeed the use of the land itself when they gain title.
I bought the Sale Book of course prior to sale and then I picked up the update just before the sale and of course as always the goodies had been brought current with an occasional transfer in title as some sharpy such as myself negotiated a buy of property and cure of lien.
What I now do, being old fat and lazy, is wait a few weeks until the fury has died down and the new owners go look at the land that they have bought. You know the lot that is totaly verticle. I mean it is fit for only eagles and hawks. Or the skinny which is one foot wide and thirty feet long. Or the one I see every year is under the brow of a slightly off center mountain. I believe there is a Coyote in residence keeps saying it is his property something about Adverse Possession er something. But buried in all that good stuff are a few that the pro can use. For example a piece of land which might be of use to the owner next door. Or the other piece that might make it possible for some nice family to discontinue their cess pool and hook onto a real live sewer. But those are things that we the hunters in the dirt have learned about through many foolish mistakes. Seems to be the only way to learn.
So Book in hand I mark the properties and I send out the letters to the new owners as their new deeds pop on line.
Dear Sir or Madam,
Congratulations on obtaining your lovely lot for which you paid $8,340. You are to be thanked cause this County really needs your money. Have you decided just what to do with your lot. Perhaps you could trench around the top and turn it into a flag pole, the dimensions are correct. If interested in selling it. Please call me. Lucius
Here in Los Angeles I give it about a month more. And away we go. Wonder what the letters will bring this year? Of course there is always the problem that the new owners cannot read, they obviously could not count or measure.
Cheers Lucius <IMG
SRC="images/forum/smilies/icon_cool.gif"> <IMG SRC="images/forum/smilies/icon_cool.gif"> [ Edited by Lufos on Date 03/15/2004 ]