Charleston County Tax Sales offer a unique opportunity to earn high yields with low risk. Find out how to take advantage of this little-known yet lucrative investment.
The Charleston County tax sale is an opportunity to earn inflation-beating interest rates secured by real estate or even acquire a property. However, the tax lien auction process in South Carolina is different from other states.
We’ll discuss this unique auction process, explain how to prepare for it, and cover resources you can consult. You’ll gain valuable insights on how to navigate the Charleston County tax sale process and successfully invest in tax lien certificates.
With expert advice from Ted Thomas, a leading authority on tax certificates and tax deeds, you’ll be well-equipped to make informed decisions and maximize your returns on investment. Welcome to the world of investment opportunities in South Carolina, particularly the Charleston County tax sale!
Key Takeaways
- Charleston County, South Carolina sells tax lien certificates through auctions, usually held in the fall.
- To prepare for the auction, consult county property records, tax collector or tax assessor sites, and delinquent tax sale records.
- Charleston County pays an interest rate of up to 12%, depending on the certificate’s duration, and foreclosures are simplified compared to other states.
Buying Tax Lien Certificates in Charleston County, SC
Unlike most states, which hold reverse auctions to sell tax liens, the bidding method for tax lien certificate auctions in Charleston County involves an up-bidding process. This means the highest bidder wins, as opposed to other states where the lowest bidder can secure the certificate.
The interest rates you can earn in Charleston County, like all 46 counties in South Carolina, can be up to 12%. The interest is earned incrementally based on the time the certificate stays outstanding: 3% for three months, 6% for six months, and so on, up to 12% in total.
When it comes to the foreclosure process, South Carolina is quite different from other states and in a very good way. If you’re the highest bidder for a tax lien certificate at a Charleston County tax sale and the owner fails to pay their property taxes, the property is transferred to you without going through a foreclosure process.
Preparation for the Charleston County Auction
Charleston County tax sales generally occur in the fall, around October, November, or December. However, it’s essential to confirm the exact dates with the county records. These auctions are advertised in local newspapers and on the county’s property records website.
As an investor interested in Charleston County tax sales, you should familiarize yourself with the local processes and requirements.
Before diving into this year’s auction, take the following three essential steps:
- Visit the Charleston County property records website for details about properties up for auction.
- Check the Charleston County Tax Collector or Tax Assessor site for additional information.
- Investigate the county delinquent tax records to understand the specifics of the tax sale process.
To stay informed about upcoming Charleston County tax sales, keep an eye on county records, property records, and Delinquent Tax sale records. All this information is public and can be easily accessed. Alternatively, you can utilize online resources that compile these details, making it easier to track upcoming auctions and their properties.
As an investor, it’s important to be confident and knowledgeable in the process of tax lien certificate auctions. Researching and familiarizing yourself with the specific procedures of Charleston County tax sales is essential for success in this investment opportunity.
What Happens to Unsold Tax Lien Certificates?
What happens if no one bids on a tax certificate at a Charleston County tax sale? The county sometimes has unsold tax lien certificates. These certificates are moved to a “forfeited lands list” and are offered during a silent auction.
To participate in this type of auction, you should submit a written bid. Resources such as Charleston County tax records or property records can provide you with detailed information on this process.
This information is public; take advantage of it.
Summary
In Charleston County, South Carolina, tax lien certificate auctions usually take place between October and December and offer you the opportunity to earn up to 12% interest on your investment. Be aware that South Carolina operates differently from other states, using a bid-up process, rather than the usual reverse auction process.
Begin by researching Charleston County property records, tax collector and tax assessor sites, and delinquent tax records before attending any auctions. Should you be interested in unsold certificates, you can explore the forfeited lands list and participate in silent auctions by submitting written bids.
Keeping informed about upcoming tax sales can be easily achieved through county records, property records, or delinquent tax sale records. All the information is publicly available.
Stay persistent and diligent in building your knowledge of tax lien certificate investing in Charleston County, and you’ll be better equipped for success in this potentially lucrative market.
If you’d like to know more about tax lien certificates and tax deed investing Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, personal coaching with certified coaches, and an interactive map and auction calendar research tool that allows you to visit each county online to find the details about upcoming auctions.
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