Upcoming Tax Sale In CA

Comments(11)

• 
  maiapapaya27th January, 2004

  What Tax Sale? I'd go if you could direct me to more information. Thanks in advance.

• 
  Lufos27th January, 2004

  Oh, I am so sorry you must be a registered person residing within the limits of Los Angeles County and in possession of a valid Drivers License identifying you as so qualified. You must qualify in with $50,000 in cash, large bills please.
  
  Please ignore the above, I got carried away, here was my chance to get rid of some of the competition from Newport Beach. Its not the big checks I object to its the heavy gold chains and big cigars.
  
  Actualy I suggest you call the Assessors office, they will direct you how to get the bid list and any requirements for qualifying other then of course the mandatory blood test, oath of allegence
  and learning the new pronouncement
  of the name California as done by our new Governor da Swartz. I shall be there clutching a new money order for $20, Yes I believe in miracles.
  
  Expectantly Lucius

• 
  mark102828th January, 2004

  Lufos,
  you are absolute hilarious!!! I am quite tickled at the new pronunciation of our state California.
  I have the bid info. bec. I am on the mailing list. I just want to know from those who've gone. It sounds like it's going to be huge bec. it's going to be the at the fairgrounds in Pomona.
  Come on, I know someone on this board has been. Please inform -- thx!

• 
  ozzie28th January, 2004

  Mark, it has been a while however I attended am LA tax sale. It was held in the auditorium of Pasadena Civic Center. Quite a large room, and many people. Good luck!
  
  Ozzie

• 
  omega128th January, 2004

  Check tax assessor's official web site. You'll get all information there directly form the horse's mouth, as one would say. And even more. If you do not understand something, someone here will be more then glad to help.

• 
  maiapapaya28th January, 2004

  Lucius, I promise to leave my gold chains and cigars in my Bentley (or whatever we drive in NB).
  
  Thanks for the laugh and the information too <IMG SRC="images/forum/smilies/icon_lol.gif">
  
  I'll take omegas advice and get direction/info from the horses mouth. I think I ccan ssay ka-lee-fore-neea
  
  [ Edited by maiapapaya on Date 01/28/2004 ]

• 
  mark102828th January, 2004

  thanks, all..............

• 
  apn2nd February, 2004

  I can't answer for the LA area, but I can talk about the SF Bay area. Up here we have a group known as "The Cartel" or "Ali Baba and the 40 Theives". They buy *everything*. You can't get a deal at a tax sale or foreclosure auction up here because they will outbid you, pay off other bidders, and generally make sure that nothing gets given away. So legend has it anyway (!).
  
  I have been to 4 tax sales, and I can tell you this: any property that has any value in it will be removed from the block -- it'll never get to auction. Sure, there are exceptions, but think about this:
  
  1) If there is a mortgage on the property, it the lender will pay off the taxes and take the property off the auction.
  
  2) If there is no lender (rare), but the property has value, it's a rare owner that will let the property go to sale when she can sell it or get a loan and pay off the taxes.
  
  Basically, the properties that go to auction are ones for which the owner has completely disappeared, has died with no heirs, or which have significant problems in marketability.
  
  Finally, bear in mind that up here, at least, properties tend to be bid up to at least 80% of their market value. That's on a property for which you have no right to inspect, you cannot back out of the sale if you don't like it, and you must pay all cash.
  
  Finally, a caveat: you will find a lot of timeshares being sold at these auctions. You will also see a few unsavvy investors bidding for timeshares, thinking that they are condos!! So watch out.
  
  In short: go to the auction. But don't expect to get any incredible deals.

• 
  mark10282nd February, 2004

  thank you SO much

• 
  investingforwealth10th February, 2004

  Hi i'm a newbie and would love the info to get on the mailing list for california tax sale please provide details.....
  
  thanks

• 
  Mitchell11th February, 2004

  Call your county tax collector. They will put you on a mailing list or you can typically view information on the counties website.
  
  The CA tax auction season is upon us, so act now!
  
  Mitchell Goldstein[ Edited by Mitchell on Date 02/11/2004 ]