Last Updated on March 11, 2015
This is the best time in history to get into the tax lien and deed business. Many counties now offer online tax sales. This means you can buy tax liens and deeds from the comfort of your own house.
Avoid These Mistakes To Succeed At Buying Tax Liens and Deeds Online
1. First of all if you are planning on attending a regular tax sale make sure to ask if they are doing the bidding procedures online. If the county is conducting the sale online get the list of tax liens or tax deeds 3-5 days before the sale so you can do your research.
2. Find out what type of payment the county is accepting at the auction. If you assume you can pay with your credit card you might be wrong. Some counties might want you to send in your payment before the tax lien or deed sale.
Some counties might want you to put down a 10% deposit and mail the rest of the payment in via certified check…
3. Use Google earth or Zillow.com to get a detail picture of the property that way you know what you are bidding on.
It is always best to see the property in person if you are bidding on tax deeds and planning to buy it online. Sometimes the images on Google earth and Zillow are up to 6 months old.
I have seen many cases where the house looked good on the satellite image but when I arrived at the house there had been a fire inside the property. If you are bidding on land, then you will be alright.
Remember every county has unique rules that can vary greatly. The biggest mistake new investors make is assuming the rules in one county are the same as another.
The power of the internet is making really easy to start profiting at tax sales. You can do your research and purchase from the comfort of your own house.
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-Dustin
