Tips in Starting An Online Tax Lien Investment

By dhinternational  /  January 17, 2011 / Comments Off on Tips in Starting An Online Tax Lien Investment

Tax Lien Sales Investment OnlineA lot of investors from other parts of the country and even from all over the world cannot attend tax lien sales so how can they invest?

Well, it’s not a big problem anymore as online tax sale auctions DO exist. It does sound great especially because you can just join in the bidding at the comfort of your own home. But just remember though, not all states are tax lien states and not all tax lien states have online auctions. So it is always best to research first.

So how do you start?

1. Research which counties conduct online tax lien auctions. In Florida, almost all of its counties conduct online lien sales while many of Colorado and Arizona’s counties are starting to join in as well.

2. Once you know which counties hold online lien sales, visit its website and read all details of the tax sale. Understand the registration procedure, bidding process, and realize your expectations on paying for successful bids. Also know the details on depositing money to register prior to the sale.

3. Learn what information you can get from the tax lien sale website. Are all the information regarding the liened properties available for download? Do you have to look at each of the property to find details on assessment? Can you get access to pictures and maps of the properties?

4. As soon as the lien auction is open for registration, sign up. This way, you will have more time to do research on the properties and do some deposits if it is required.

5. Don’t start due diligence on the list of properties too early. There are cases wherein your time and effort will be wasted when you have done your due diligence too early only to find out that some of the properties have already been removed because the properties have been paid off by their owners days before the auction. Be updated.

6. Bid in before the tax lien sale ends.

7. Since bids that are submitted cannot be withdrawn, you have to make sure that you are bidding on the correct one. You also have to pay for your successful bids by the deadline or you can lose the liens and may even be barred from upcoming tax sales. So always make sure you have the cash.

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