BUYING TAX CERTIFICATES "OVER THE COUNTER" AFTER THE REDEMPTION PERIOD |
Not all tax certificqates sell at the auctions and not all investors feel comfortable
with competitive bidding. Therefore, buying tax certificates "over the counter"
after the auction is over is a good alternative to know about. Not all states sell tax certificates "over the counter" when they don't sell at auction. They just hold the unsold certificates for the next auction or hold a supplementary auction just for the tax certificates which did not sell the first time. But other states do sell unsold tax certificates "over the counter" without competitive bidding, to the first investor to walk through the door of the County Courthouse and ask for them. You just walk in, ask for a list of unsold tax certificates available and then choose the ones you want and pay the minimum bid, right there, just by handing your money "Over the counter" with no one bidding against you. Many people assume that only the garbage is left after the auction and all the good certificates have been grabbed up, but this is not always true and often real bargains can be bought for minimum price "over the counter" without any competitive bidding When you buy tax certificates after the Redemption Period has expired, you are going for the property, not the interest. In some cases, you automatically have the right to foreclose because the Redemption Period is over. In other cases, you have to go to court to get the right to foreclose and seize the property. Know the rules before you buy TAX SALE RICHES HOME PAGE |