Just imagine yourself purchasing a well maintained home valued by the tax assessor at $180,000 and Zillow for slightly more than that. I’m Ted Thomas, and I‘ve been teaching and guiding other alternative investors on how to purchase at tax sales for 30 years.
Today I’m answering your question, “How do I find tax sales near me?” and the topics I’m going to cover are:
- The Repercussions of Delinquent Property Taxes
- The County’s Solution for Unpaid Property Taxes
- Big Discounts at County Real Estate Auctions
- A Case Study of a Profitable Tax Lien Property Purchase
- Making Money From Tax Sale Investing
Want to learn how to purchase bargain real estate? Would you like to buy mortgage-free property for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then you don’t want to miss this FREE Mini Course.
The Repercussions of Delinquent Property Taxes
When investors ask, “How do I find tax sales near me?” what they’re looking for are tax defaulted property auctions. Tax sales are really auctions, and it works like this.
The legislature of every state mandates by law that all property owners must pay property taxes. The majority of the owners do exactly as they should and routinely pay their taxes. However, a small percentage do not pay property taxes. They default which is a failure to pay.
Non-payment of property taxes has consequences. The local county needs the revenue from the property taxes to pay the county employees and many other county bills. So the county experiences money problems because property owners have not paid property taxes.
The County’s Solution for Unpaid Property Taxes
The solution to the problem of unpaid property taxes is tax defaulted auctions in every county in the United States. That’s over 3,000 counties. So for those asking about tax sales near me or you or anywhere in the nation, then we need only to look to the local county governments.
Approximately half of the counties are authorized to sell tax lien certificates and the other half of the counties execute tax defaulted property sales.
The legislature in all 50 states mandates that property taxes are due and must be paid. If the taxes are not paid, the treasurer to put the property in default of taxes. Then the treasurer will begin to send due process notices of default.
All of this culminates in a government seizure and confiscation of the property. After the treasurer has seized the property, it is sold at a tax sale to collect the delinquent past due taxes.
Big Discounts at County Real Estate Auctions
As an investor, what are you looking for if you’re asking, how do I find tax sales near me? You’re looking for tax sale auction venues and lists of tax sale properties. These will be posted on the county’s website and published in the local newspaper.
The auction will begin with the bidding opening usually very close to the delinquent back taxes. When compared with the value of the property, this is usually only 10 to 20 cents on the dollar.
The county you live in and all the counties in your state are authorized to confiscate and auction real estate for prices that are 60%, 70%, or even 80% below the tax assessed value.
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A Case Study of a Profitable Tax Lien Property Purchase
Imagine purchasing a condominium with a tax assessed value of $180,000 that’s built on a lake in an urban area in Phoenix, Arizona for only $11,000 in back taxes. That would surely make a significant difference in your life.
That’s exactly what took place for two of my students. Let’s call them D&R who are a married couple raising a family in Phoenix.
D&R waited almost 3 years after they purchased the tax lien certificate to the property. The property owner never came forward to pay the tax lien certificate or the interest on the certificate. Therefore, at the close of three years, D&R were awarded the property.
Zillow sold the property for $180,000, and after commissions, D&R received a profit of $169,000. Their investment was only $11,000.
Making Money From Tax Sale Investing
For over 200 years, local governments have been seizing tax defaulted properties and reselling them.
If you could buy at 10 cents on the dollar with no mortgage and no deed of trust to pay, and then resell for 60 cents on the dollar, how many transactions would you have to do to live comfortably?
Especially, if you knew you could sell them using eBay, Craigslist, the Multiple Listing Service (MLS), Zillow, and Trulia while sitting at home on your computer.
We hope you enjoyed Ted’s lesson, “How Do I Find Tax Sales Near Me?”
If you want to purchase mortgage-free properties for pennies on the dollar near you, then you can find tax sales on the county websites and in local newspapers.
If you’d like to know more about tax delinquent property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
Learn how to reap huge rewards from tax lien and tax deed investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.