Anyone ever buy property by a tax lien on the courthouse steps?  

I've been looking into it and found some interesting things out.  Most property is bought by out of state lawyers it seems just to collect the interest and fees.  At first I was feeling bad about buying based on something I disagree with (paying the king's fee for your land), but not so much when some douchebag from Florida is getting dirt cheap WV property.

I understand that the county posts who hasn't paid, then auctions off the property.  Then winner waits till the 2nd April first after the sale, posting in the newspaper as required. If original owner doesn't pay, winner gets property for peanuts.

I don't understand how you go about the steps between winning auction and the finish line.  If someone else could shed some light on this process that would be great.



Here's another question about a situation that I hope to be in.  There's some property about 25 minutes from my house, a guy let it go and is still redeemable till the end of March.  Google search says he's from a few counties over, old, and should have the money to pay the taxes from his job title.  So a professional buyer has paid the taxes and is waiting to make a steal on this property.  I'm writing a certified letter to the land owner, offering to pay all taxes, fees, and additional cash to him personally.  If he accepts, how do I set up to sell the property from him to me?  I've only bought a house and the realtor set everything up.  

Advice and suggestions requested.

I have been looking into this as well. There are a lot of caveats because you have to make sure you have your bases covered with owners and the notices required by law. I am not in the positioin to actually buy anything right now, but the process seems fascinating because of the potential windfall.

A lot of it seems pointless because you get 1/X of the property. I'm definitely looking into getting into complete property though.  I'm hoping someone suggests an attorney or something covering all bases in this thread.

It really guts me that all these out of state lawyers are getting our local property for basically nothing.

A person I go to the same gym as told me its all about having the capital and being able to have it tied up for up to a few years. Some, if not most, of those lawyers probably have a lot of cash the don't need so they can do this.

Depending on the county, it seems that most properties going for about 750 for any smaller lots, 1500 to 2000 for larger. Idk what county you're in, but Boone, Logan, and Lincoln have advertisements showing what it cost to redeem some properties going for a tax lien right now in their county newspapers.

I have bought two foreclosures from banks, real easy.  Never did the tax certificate sale thing as it does really tie up money.  For example as I understand it within 18 months the owner can pay up and all you get is interest for letting him use your money.

This site explains some of it

I bet you can really do well with it, hope it does work out well for you.

Ive never done it and I am keeping an eye on a property that is adjacent to mine id like to own. I found out, like mentioned, even if you get the property, the owners can get it back, someone mentioned 18months, I wasnt sure what the limit was on it, honestly, I thought it was longer.

Sale is in October or November, you get ownership second April 1st after that.