Is it possible to buy tax lien without the necessary due diligence and going to the sale yourself? There are ways actually, and one of these is by acquiring the services of a tax lien investing agent. The agent can do all the work of purchasing tax liens and managing your portfolio.
The agent can take care all of the tedious tasks for you. Making the list of tax lien properties, researching, bidding at the sale, managing your portfolio, and taking care of any redemption or foreclosures, he can accomplish these things for you. You would just sit back and collect the profit afterwards.
It is good to have someone with knowledge and expertise in tax lien certificates investing, to help you start. It can be a costly mistake on your part if you’d invest without proper education on the matter. Well, you can always learn by going to tax sales in the nearest county and buy liens. However, there is always that chance to lose money with unwise decisions. The goal is to make as much profit in this lucrative investment.
If you are just new to the tax lien investing scene, then it is advisable to acquire the services of a mentor and show you the ropes. He or she will guide you step-by-step. Having someone by your side will save you a lot of time and money.
Knowing the rules and terms in a tax lien sale is very important. These rules specify when and how you would need to register for the sale, where the bidding is going to take place, what the procedures are, and when to pay for any successful bids. Do not forget that you would not be allowed to register for the tax sale if you’re going to forget this information. Plus, you won’t be allowed to place bids if you’re going to miss the registration.
Take note that you are required by the county to follow the correct method of payment. A lot of tax collectors would only accept bank checks or Automated Clearing House (ACH) debit if it is an online tax sale. Also, payments are usually made right after the tax sale which is mandated by counties. Remember that you can be fined or lose successful bids by failing to do so. Worst case scenario is not to be allowed to participate in future tax sales, if no proper payment is made in due time.