Buying tax deed or tax lien properties is the next step to owning “bang for the buck” real estate from tax delinquent homeowners. But first you need to take note on some important things, which are crucial to your goals. Let’s discuss a few of them below.
You must determine how to pay when you’re going to win. When you buy properties at a tax sale, there would be little time to get a loan, run off to the ATM machine, or ask your family for some money. The county would want the money on the spot. You must be ready when this happens or else the property would be sold off to the next bidder.
Don’t forget to register to bid. This step is simple but can be difficult if you did not prepare. You would be required to show a government issued ID on every auction you’re going to attend. No ID means, no bidding. Furthermore, other tax lien or tax deed auctions require its bidder to register ahead of time. You would submit your data electronically for this. There would be a bidder card waiting for you on the day of the auction.
Every tax property auction is different so it is best to be ready always. Always contact the county office for questions and do an extensive research for any doubt you have in mind.