County Tax Liens
Does anybody have any experience with purchasing county tax liens? If so how did you find the properties that were going to be foreclosed on because of tax liens? If you have purchased them what percentage of buyers have come back and paid the liens off to keep the home? If you have any other information on this topic I would appreciate it.
Thank you
OK, well I haven't actually purchased any liens yet but as for finding where they are, you can call the counties that you're interested in. Or you can find them at www.taxsale.com (there's a whole map that you can click on the states and it will tell you all the tax sales coming up)
And as far as the redemption rates, they can range anywhere from 65% to 95%. Don't let anyone fool you by telling you that they'll always be 95% - 99%, because it's not true.
bnew1us--(TX)-----------------------
Forget "homes." Think "land." Over 90 % of properties that go to tax sale are vacant land or lots, not improved properties.
About 95-99% of ALL liens get paid off or redeemed. Those that do not tend to mostly be vacant land and poor properties. I estimate that maybe 0.1% to perhaps as much as 1.0% of "good properties" can be gotten to deed if you buy liens at random. This would be properties with improvements, or nice parcels large enough to be of interest to buyers.
Getting an investment return with tax liens works well and it is easy to do, easy to learn, safe investing. Getting properties requires a lot of research work. It takes much effort. It is possible to make it work, but it is not easy.
Good Investing***********Ron Starr************
I've bought both tax liens and actual properties at county tax sales in several states, and prefer the latter. Many counties have their sale info online, but if they don't, that's where you're more likely to find the bargains. Yes, most parcels are raw land, but there are also homes in various states of repair (occasionally even ready to move into) You've gotta really search and sniff them out these days--thanks to the infomercial gurus who are encouraging newcomers every day to join in the fray.
I've found www.taxsale.com and other online sites not to be particularly accurate for all areas. For example, they miss most of the Minn. sales, so it always makes sense to call the counties you want to buy in and ask.