guide to real estate tax lien and deed auctions

guide to real estate tax lien and deed auctions

guide to real estate tax lien and deed auctions Reviews

There's usually little point in starting a fixed price auction for $100 when someone else is selling the item for $90. Anyone can sell on ebay, if they believe in themselves - and if you do decide it's not for you, then the start-up costs are so low that you won't really have lost anything. Out of the things you know enough about, you should then consider which things you could actually get for a good enough price to resell, and how suitable they would be for posting. PayPal: an electronic payment method accepted by most sellers. Being a seller is a lot of responsibility, and sometimes you might feel like you're not doing everything you should be. Shill bid: a fake bid placed by a seller trying to drive up their auction's price. . By now, you're well prepared for ebay life, and you're probably ready to get started with that first auction. Do you follow up?It is worth sending out an email a few days after you post an item, saying "Is everything alright with your purchase?I hope you received it and it was as you expected. Oh, and always use first class post - don't be cheap. Words. So you've decided that you want to get rolling as a seller on ebay. Have you found out everything you possibly could about your items?Try typing their names into a search engine - you might find out something you didn't know. Have you been wrapping your items correctly?Your wrapping should be professional for the best impression: use appropriately sized envelopes or parcels, wrap the item in bubble wrap to stop it from getting damaged, and print labels instead of hand-writing addresses.Do your item description pages have everything that buyers need to know?If you're planning to offer international delivery, then it's good to make a list of the charges to different counties and display it on each auction. That's the only foolproof way to protect your reputation. Dutch: an auction where more than one of an item is available. This simple checklist will help you keep on top of things. You will be surprised how many problems you will avoid just by communicating this way.If

Wikipedia on jobs

A tax deed sale is the forced sale, conducted by a governmental agency, of real estate for nonpayment of taxes. It is one of two methodologies used by governmental agencies to collect delinquent taxes owed on real estate, the other being the tax lien sale.

Tax Deed Sale Process

Real estate taxes are considered delinquent if not paid within a specified period of time. If the taxes are not paid, after legal requirements are met (such as giving proper notice to the property owner as well as others holding an interest in the property, or by filing required action in the courts), the property is offered for sale at public auction.

The minimum bid is generally the amount of back taxes owed plus interest, as well as costs associated with selling the property. In the event the property is not purchased, title reverts to the government. The government may then attempt to sell the property at a public auction and/or offer it for sale in a private transaction.

In most cases, the jurisdiction will only provide a quitclaim deed at the sale, which is usually insufficient for title insurance. Therefore, a "quiet title" action must be filed in court to obtain an insurable title.

Some jurisdictions allow a "redemption period", whereby the former owner has a specified amount of time to reclaim the property by repaying the amount bid at auction plus a penalty. For example, Texas allows a 6-month period in most cases, with a flat 25% penalty to be added to the amount paid at sale (for agricultural and homestead property the period is 2 years and if redeemed in the second year the penalty is 50%), while Tennessee allows a full year, with a 10% penalty. As such, purchasers of properties at tax deed sales are cautioned not to make major improvements on the property until after the redemption period has expired.

Other jurisdictions do not allow a redemption period after sale (for example, Florida). However, the prior owner can still attempt to challenge the validity of the tax sale, for example by claiming that proper notice was not given.

References

• Don Sausa,. Complete Guide to Real Estate Tax Liens and Foreclosure Deeds : Learn in 7 Days . The Vision Press. ISBN 0-9788-3468-2. OCLC 77059156.  

• Larry B. Loftis,. Profit by Investing in Real Estate Tax Liens : Earn Safe, Secured, and Fixed Returns Every Time . Dearborn Trade, a Kaplan Professional Company. ISBN 0-7931-9517-9.  

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