In this interview, Ted answers questions about CT tax auctions and explains what makes Connecticut different. We’ll discuss auctions at the township level, the interest rate that Connecticut pays, and what kind of deed winning bidders receive at CT tax auctions.
The topics to be covered in “CT Tax Auctions: What Makes Connecticut Different?” are:
169 Townships in 8 Counties Hold Connecticut Tax Deed Sales
Let’s talk about CT tax auctions. Is there an upside to looking for tax lien or tax deed investment opportunities in a smaller-population state like Connecticut?
There are over 3,000 counties that sell tax-defaulted property, but Connecticut is different. Connecticut only has eight counties, however, it also has 169 townships that sell tax defaulted properties at CT tax auctions.
The counties are online. So you can research the county’s records. From Boston all the way down to Georgia, there are another 1400 municipalities which include townships. They are all authorized to have tax auctions.
Usually, it’s the counties that do that. In Connecticut, all of those little townships sell. They sell redeemable deeds.
Real Estate Auctions in Connecticut Sell Redeemable Deeds
What is a redeemable deed? If a property owner didn’t pay the property tax on their house, the treasurer is going to sell the property deed to an investor at an auction. The auction buyer gets a redeemable deed. What does this mean?
In Connecticut, the investor who has the deed may have to give it back in upwards of six months. Some time in six months, this property owner can come back and redeem the property by paying whatever the investor paid, plus 18%. That’s a redeemable deed.
What kind of an interest rate can investors expect to get on redeemable deeds at Connecticut tax lien sales? It’s 18%, but annualized. Since the rule is that the tax delinquent property owner has to redeem within six months, half of 18 is nine. That’s 9%.
I don’t know if you want to do all of that for 9%. That’s why we don’t hear a lot about CT tax auctions.
Ted’s Tax Lien and Tax Deed Investing Course
If you want to learn more about tax deeds and tax liens, I’ve got hundreds of videos, and they’re all free on YouTube.
Or you can go to tedthomas.com for info on my tax lien and tax deed investing courses, which include 1-day and 3-day workshops
Twice a month, we offer an all-day course. It starts at 11 o’clock in the morning Eastern time and goes to five o’clock. It’s a virtual seminar. That means you can sit in your home or office, wherever you want, and attend that particular event to learn about tax liens and deeds. It has a cost of $47.
Or you could start with the interactive map auction calendar that provides you with auction information and tax delinquent property for sale lists for every state in the US. This research tool makes it very easy to do a Connecticut tax lien search or a search in any state in the US.
Conclusion
We hope you enjoyed Ted’s lesson, “CT Tax Auctions: What Makes Connecticut Different?”
CT tax auctions occur in Connecticut’s 169 townships, which sell redeemable deeds. The tax delinquent property owner is given 6 months to redeem the deed from the investor who purchased it at the auction.
If the deed is redeemed, the investor gets back all of their capital, plus 18% annualized, which would be 9% for 6 months. However, if the deed is not redeemed, then the investor gets the property.
If you’d like to learn more, 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 Ted offers an interactive map auction calendar research tool that allows you to visit states online and see where all the auctions are taking place.
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