Are you really interested in buying tax liens, but either don’t live in a state that has tax lien sales? Even if you do live in a state that has tax lien sales, you may not live within driving distance of the county courthouse or the location of the auctions. Or maybe you just don’t want to waste time driving to the auction just to waste a day bidding on liens.
Well, I have some great news for you. There are a total of five states that sell tax liens online. They are Arizona, Colorado, Florida, Indiana and Maryland. Even in those states though, not all counties conduct tax lien sales online. You can easily find a list of the counties that do sell tax liens online by checking out Joanne Musa, the Tax Lien Lady’s new program called Buying Tax Liens Online at http://bit.ly/3G3Ac. Online tax sales are different in each state, but they do have a few things in common.
You need to register for online tax sales days, or in some cases weeks, ahead of the actual sale date. You can register entirely online, and once you are registered can browse and bid on properties online as well.
When you bid on a tax lien online, you are not bidding on the actual property itself, but on the tax lien certificate that is being auctioned by the county. These online tax sales usually require a deposit, which is usually a portion of the amount you plan to spend on tax lien certificates. This deposit is usually refundable after the sale if you don’t win any certificates, but some sites have a nonrefundable registration fee.
In auctions that use wire transfers for payments, payment for the liens which you win is usually required within 24 or 48 hours after the close of the sale. For sales that use ACH Debit as the method of payment, payment for your liens is usually due the day the tax sale closes. For these online tax sales, you agree beforehand to allow the county treasurer to debit your account for the amount of the tax liens that you win.
The counties that do have online tax sales make it very easy for you to register and bid online. The most difficult part is doing your due diligence for the properties. Unless you purchase a tax sale list from the county or from a third party list provider, you don’t always get to see the list of properties that are . In some cases, there is very little information available on the properties. This is where buying a detailed or enhanced list can be extremely helpful in doing remote due diligence prior to bidding in an online tax sale.
For more information on buying tax liens online, check out the Tax Lien Lady’s new program on Buying Tax Liens Online: http://bit.ly/3G3Ac
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