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Illinois Tax Liens are “AWESOME”

By admin  /  2:37 am / No Comments

You can get up to 18% on your money in Illinois. Yes they have a lot more
offer than the “The Bears” Today we will learn about Illinois Tax Liens and
how you can make money there.

Imagine your knowledge of each state like getting
a new took in your tool box. The more tools you have
and know how to use the fast you can cash in.

There are 102 Counties in Illinois.

Illinois is an oral bid state.

Illinois requires a preregistration along with a deposit at
least 10 days before the auction.

Counties usually publicly announce the sale about a month
prior to the sale.

A 2-year redemption period is typically the standard in
Illinois.

The owner of the tax lien certificate has the option to
extend the redemption period to 3 years from the date of the
sale.

Illinois is unique in that it holds two types of tax sales -
Regular tax sales and Scavenger tax sales.

Regular tax sales consist of properties which were delinquent
the previous year.

Bidding begins at 18% and tax lien certificates are sold to
the bidders willing to accept the lowest rate.

Scavenger Sales are the state’s alternative to offering
over-the-counter tax lien properties.

These tax sales are for delinquent properties that were not
sold during the annual sale.

They are consisting of properties which were delinquent for
two or more years.

Interest Rate
18%

Redemption Period
2- 3 years

Tax Sale Date/Period
For most Illinois counties, the sales take place in late
October or November. Larger Illinois counties, like Cook
County, hold “Scavenger Sales” in odd-numbered years.

Contact
The county tax collector

Bidding Method
Bid-down Interest with bid-down increments of 0.25%, 0.5%,
or 1% depending on the county

Over-the-Counter Sales
Some Illinois counties offer “over-the-counter” tax lien
certificates.

Remember over the counter tax liens often have
great diamonds on the rough, you just have to do a
little digging.

Many people have created their wealth strictly off of over
the counter tax liens.

As you know tax liens are awesome because if you get
redeemed you get the interest rate and if you don’t you get
the house.

These tax lien certificates in Illinois are also called “Forfeited Lands”.

The penalty rate for over-the-counter liens is initially set
at 12%.

Foreclosed tax deeds are also offered over the counter
(through a third party) in 81 of Illinois’ 102 counties.

If I were you I would check out both the tax liens
and the tax deeds to maximize your chance at
profits.

Thanks for reading.

Do not miss this rare opportunity to learn about the
opportunity to improve your life. Grab a copy of the Real
Estates Best Kept Secrets Training Course now.
http://www.easytaxsaleprofits.com/


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