Sunday, July 17, 2011

Indiana Tax Lien Sales

Just a heads up that there are several Indiana tax lien sales and Commissioners sales (also known as "B" sales) coming up in the next few months. A listing is provided below.

In Indiana, tax liens purchased at the regular sale have a 1-year redemption period. The liens pay out a flat fee of 10 percent for the first 6 months, or 15 percent for the second 6 months. On an annual basis, your return could be an amazing 120 percent. Interest on the overbid, and on any taxes or assessments paid by the investor after the sale, is 10 percent per annum.

Unsold properties from the tax sale are certified to the County Executive (Board of Commissioners), and the County Auditor issues a tax lien certificate to the County Executive. These properties may be sold at what are referred to as “B” sales or Commissioners sales. The redemption period for these properties is only 120 days, and the interest payout is the same as for regular sales.

** The Platinum Rogue Investor Collection has all the information you need to get started with tax sale investing. During our Dog Days of Summer Sale (through midnight on Monday, July 18, 2011), you can purchase the Platinum Collection for the price of the Gold - only $247. A $50 savings! Click here for more information or call 816-673-1874. **

Happy investing,

Michael Williams


AUGUST 2011


Jennings County, Indiana
August 22, 2011
Tax liens – public (Commissioners certificate sale)
http://www.sri-taxsale.com/Commissioner/LiveCertificateSaleList.aspx?county=Jennings&location=Commissioners%20Meeting%20Room&starts=2011-08-22T10:00:00
 

Lawrence County, Indiana
August 31, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Lawrence


Madison County, Indiana
August 3, 2011
Tax liens – public (Commissioners certificate sale)
http://www.sri-taxsale.com/Commissioner/LiveCertificateSaleList.aspx?county=Madison&location=City%20of%20Anderson%20Auditorium&starts=2011-08-03T10:00:00


Owen County, Indiana
August 24, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Owen


SEPTEMBER 2011


Bartholomew County, Indiana
September 14, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Bartholomew

 
Blackford County, Indiana
September 21, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Blackford


Carroll County, Indiana
September 16, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Carroll


Clay County, Indiana
September 26, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Clay
 

Dearborn County, Indiana
September 20, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Dearborn


Decatur County, Indiana
September 8, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Decatur
 

Gibson County, Indiana
September 14, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Gibson


Hancock County, Indiana
September 22, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Hancock


Huntington County, Indiana
September 29, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Huntington


Jefferson County, Indiana
September 22, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Jefferson


Kosciusko County, Indiana
September 22, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Kosciusko


Lake County, Indiana
September 20, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Lake


Marion County, Indiana
September 22, 2011
Tax liens - public
http://www.governmentauctions.org/aNoFeeAuctionShow.asp?AucId=777&src=src1&DateID=58362


Martin County, Indiana
September 16, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Martin


Montgomery County, Indiana
September 30, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Montgomery


Ohio County, Indiana
September 13, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Ohio


Parke County, Indiana
September 22, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Parke


Perry County, Indiana
September 8, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Perry


Pike County, Indiana
September 15, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Pike


Posey County, Indiana
September 12, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Posey


Putnam County, Indiana
September 14, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Putnam


Spencer County, Indiana
September 7, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Spencer


St. Joseph County, Indiana
September 14, 2011
Tax liens – public
http://www.sri-taxsale.com/County/St.%20Joseph


Sullivan County, Indiana
September 22, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Sullivan


Switzerland County, Indiana
September 13, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Switzerland 


Tippecanoe County, Indiana
September 29, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Tippecanoe


Vermillion County, Indiana
September 21, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Vermillion


Vigo County, Indiana
September 15, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Vigo


Warrick County, Indiana
September 16, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Warrick


Washington County, Indiana
September 19, 2011
Tax liens – public
http://www.sri-taxsale.com/County/Washington


White County, Indiana
September 7, 2011
Tax liens – public
http://www.sri-taxsale.com/County/White

Friday, July 15, 2011

New Jersey Tax Lien Certificate Sales

There are two tax lien sales that I know of coming up in August in New Jersey. The Tax Collectors and Treasurers Association of New Jersey (TCTANJ) keeps a calendar of upcoming sales on their website at http://www.tctanj.org/taxsale.html, so make this your first stop if you are interested in sales in this state.

Borough of Hillsdale, Bergen County, New Jersey
August 31, 2011
Tax liens – public
Time: 10:00 a.m.
Location: Council chambers, 380 Hillsdale Avenue
Tax sale list: request by emailing CandaceSchaefer@hillsdalenj.org
Registration: at the door

Borough of Hillsdale: http://www.hillsdalenj.org
Tax Collector: http://www.hillsdalenj.org/department_detail.cfm?dept_id=2&#resources
Candace Schaefer, Tax Collector
380 Hillsdale Avenue, Hillsdale, NJ 07642
Phone: 201-666-4800 ext 1501
Email: CandaceSchaefer@hillsdalenj.org

Township of Hopewell, Mercer County, New Jersey
August 22, 2011
Tax liens – public
Time: 10:00 a.m.
Location: Municipal Auditorium
Tax sale list: request by emailing mkennedy@hopewelltwp.org
Registration: at the door

Borough of Hopewell: http://www.hopewelltwp.org
Tax Collector: http://www.hopewelltwp.org/tax_collector_main.html
Mary Kennedy-Nadzak, Tax and Utility Collector
201 Washington Crossing-Pennington Road
Titusville, NJ 08560
Phone: 609-737-0605
Email: mkennedy@hopewelltwp.org

There are two types of tax sales in New Jersey. The accelerated tax sale is held prior to the end of the year for that year’s tax delinquencies. It is a one-time cash inflow benefit, for the first year it is held.

The standard tax sale is held within the current year for delinquent taxes of the prior year. The sale can be held at any time. The tax sale list must be prepared a minimum of 50 days before the sale. The advertisement lists the following property information: block, lot, last assessed owner, location, type of debt, and balance to be sold.

Sales are open to the public. Only the prior year’s taxes and interest, and related costs, are sold. Bidding starts at 18%, and goes down until bidding stops. Bid parameters are set by the Collector, and may be in whole, half or quarter percentage points. In 2010, the tax sale law was amended to allow Collectors to accept 0% bids (vs. 1%). You will need to check with the Tax Collector conducting the sale to see if 0% bids are allowed. Otherwise, after 1%, premiums are bid. A $0 premium is not allowed. Premiums may be offered by hundreds, fifty, etc. 

If a premium is the winning bid, no interest is earned on the original lien, and the premium is paid to the Township to hold. If, after 5 years, there is no redemption of the lien, the Township retains the premium. If within the 5-year period the lien is redeemed, the premium is returned to the lien holder; no interest is paid on this amount. If the lien holder forecloses, the premium remains with the Township. It is only when redemption is made within 5 years that a lien holder receives his/her premium back.Typically, properties with higher valuations will receive larger premiums, as will properties with higher outstanding balances. Higher balances are less likely to be redeemed, so there is a great chance the lien will go to foreclosure.

Payment by the winning bidder is due immediately after the sale. You will want to ask the Tax Collector’s office what type of payment it accepts – this is likely to vary from town to town. The Collector is required to mail all certificates to the lien holders by the end of 10 days. The lien holder is responsible for recording the instrument at the County. Failure to do so in a timely manner can result in a nullification of the document. Effective 2010, the lien holder is legally obligated to provide the Tax Collector a copy of the recorded instrument upon its return from the County.  This copy is made a permanent record.

During the period between the sale and the mailing of the certificate, the property owner may come in and pay off the lien without incurring additional penalties. The lien holder is then notified of the payment and reimbursed.

I'll talk some more about the New Jersey tax sale process in my next blog.

Happy investing,

Michael Williams

P.S. The Platinum Rogue Investor Collection has all the information you need to get started in tax sale investing. Call 816-673-1874 for more information.



Monday, July 11, 2011

Canada Tax Deed Sales

While a lot of Canadians venture into the United States to participate in tax sales, the opposite is not as common. However, you may want to consider tax foreclosure sales in that country (also known as municipal tax sales), as many of them are conducted by public tender, which means you do not have to attend an auction and instead can submit your bid by mail.

Tax sales in Canada are conducted by municipalities, and can be by either public tender or public auction. A tender is a written document that tells the treasurer how much you will pay for the property. At a public auction, participants bid on the property. In Ontario Province, more than 90 percent of the sales are conducted by public tender. The minium tender or bid is the total of the outstanding taxes, penalty, interest, and the municipality's cost to hold the tax sale. The person who submits the highest tender or bid is allowed to buy the property.

When a property is sold at a tax sale, any mortgages on it are eliminated, except for mortgages in favor of the "Crown." The "Crown" refers to the government of a province or the government of Canada, or one of their agencies or crown corporations. Tax sale properties also may be subject to other interests such as easements, restrictive covenants and adverse possession. And as in the United States, if you buy an environmentally contaminated property you could be held legally liable for the cost of an environmental clean up.

Shortly after receiving payment in full, the municipality will have a tax deed registered on title at the local land registery office. Keep in mind that the property owner can redeem at any time after the sale but before the deed is registeted by paying the full amount of taxes and other costs due.

A very nice resource that focuses on sales in the Ontario province is the website OntarioTaxSales.ca. This site provides a wealth of information on the tax sale process, as well as tax sale lists for upcoming sales that include photos, property information and more.

Happy investing,

Michael Williams

P.S. Check out Rogue Investor's comprehensive course manual on tax sale investing in the United States and Canada: www.rogueinvestor.com/government_tax_sales_book.html. Or call 816-673-1874 for more information.

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Tuesday, July 5, 2011

Washington, D.C. Annual Tax Sale

Now that we're all done celebrating the Fourth of July and contemplating the signing of the Declaration of Independence, it's time to think about something more contemporary that occurs in the city of our capital - the annual real property tax sale. Conducted by the Office of Tax and Revenue, this tax lien certificate sale will take place July 18-20, 2011 in Washington, D.C.

The redemption period for these tax lien certificates is a short 6 months, and the interest rate is 18 percent per annum. At the sale, bidding begins at the amount of delinquent taxes and increases in increments. The winning bid amount is the highest bid. There is NO INTEREST given on the overbid amount.

More than 6,200 commercial and residential real property tax liens are being advertised for this year's sale. This list is available on the OTR's website at http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594443.asp.

There are a few things you must take care of prior to participating in the sale. First, registration is mandatory, and can be done any time from July 11 until the final day of the sale. Purchasers are required to complete Form FR-500, Combined Business Tax Registration Application, prior to registering. This form is available online. As part of the registration process, prospective bidders also must make a deposit of at least 20 percent of their total bid. A $200 tax sale fee will be added to each property at the time of the sale.

In the fourth month following the last day of the tax sale, the tax lien purchaser may begin a title search. After six months, a court action to obtain the property may be initiated.

Happy investing,

Michael Williams

P.S., The Platinum Rogue Investor Collection has the answers to all your tax sale questions.
www.rogueinvestor.com/government_tax_sales_book.html

Or call 816-673-1874 for more information.

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