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Tax Sales and Tax Defaulted Properties Nationwide

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Tax Sales

Tax Sale Property Provides a Unique Opportunity to Profit

Tax sales are available on properties where a local taxing authority enforces its right to collect delinquent property tax. Tax defaulted properties are at risk for loss to the owner. These homes can be difficult to identify because doing so requires significant research of public records. RealtyStore's advanced data collection and records processing technology makes it fast and easy to browse tax sales available in your area.

Sales Options for Tax Defaulted Properties

Tax defaulted properties will generate a sale to allow local government to collect the delinquent property tax. This can be handled either through a tax deed sale or a tax lien sale. Each sale is made through bids received at a public tax sale auction. This is a different format than property auctions seen in the standard foreclosure process. In the tax deed sale of a tax defaulted property, a minimum bid will usually be set to equal the sum of accumulated back taxes, fines, interest and transaction costs for the property. States enforcing this type of sale may wait for many years before bringing the property to auction. Conducting prior research and valuation studies for tax deed property is a crucial step for buyers.

Tax liens take another approach. The tax lien auction involves the sale of certificates which are considered investment documents. Holders of the tax lien have the right to receive interest, penalties and costs associated with covering the tax due from tax defaulted properties. If the property owner does not pay the interest, penalties and costs by a designated redemption date, the right to acquire the property transfers to the lien holder. Liens are most often redeemed by the necessary date, but the lien holder is rewarded with financial returns above typical market rates. In those cases where redemption periods lapse, lien holders can realize tremendous upside on the property acquired.

Search RealtyStore's available listings of tax defaulted properties in your area now.

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