TAX SALE RICHES FREQUENTLY ASKED QUESTIONS 1. Are tax sales risky? Absolutely not. They're one of the safest investments available because everything is guaranteed by the government. Either you get your money back with interest or you get the property instead. It's as simple as that 2. Are you guaranteed high returns with tax certificates? No. It's a public auction with competitive bidding. The more people bidding on any given tax certificate, the higher the price is liikely to go and the lower the return is likely to be, but tax certificates offer an excellent opportunity to get high returns, especially when there are few if any other bidders, or you buy "over the counter" after the auction is over. 3. Do you have to pay cash at tax sales? Not always. The rules vary from state to state. In some cases, you can put up as little as 10% deposit on the day of the auction and have up to 10 days to come up with the balance. In other states, the state will even finance the property with a small down payment 4. Do I have to go to the tax sales in person to bid? No. There are also "over the counter" sales, where you can walk into the County Courthouse after the tax auction and buy unsold tax certificates, or unsold properties, without any competitive bidding. In many cases, you can even send in a sealed bid by mail. 5.If I buy a tax certificate do I have to chase down the delinquenyt taxpayer and hound him for my money? No. The state or local government does all that for you. They collect your money and pass it on to you 6. Do I automatically get the property if the delinquent taxpayer defaults on the tax certificate? In some states, you automatically have the right foreclose when the Redemption Period expires. In other states, you have to go to court to get permission tio foreclose and seize the property, but in the end, you always get either your money back or get the property. TAX SALE RICHES HOME PAGE CONTRACT WIZARD HOME PAGE MORTGAGE MAGIC HOME PAGE |