April is the month when Indiana tax lien certificate auctions will next take place and Madison County is hoping to recoup as much revenue as possible from the large number of defaulted properties in the past year. After a sale in November of last year, the county is still left with 2,200 tax lien certificates waiting for a buyer.
What’s different about this April’s auction is that bidders will be allowed to buy the tax lien certificates for less than the taxes owed, with a minimum bid of just $100 on over 700 properties up for grabs. The auction will take place online. The county is allowing 120 days for the lien purchasers to recoup their investment or take ownership of the real estate in exchange.
The majority of properties up for bid are undeveloped lots. While vacant land is usually considered the least desirable, don’t write them off. There are definitely profits that can be made from the right piece of land.
Before you invest in Indiana tax lien certificates, do your homework. The procedure for taking ownership of the property is not as easy as it is in some states. One requirement is that a title search be performed after your purchase. Another is that you contact all interested parties, such as those holding other liens.
Check out the area surrounding the parcels and get a good idea of property values. You will definitely want to see what you’re getting before bidding and driving by the parcel is recommended. You may want to visit the county’s website and take a look at the online map to see where the tax-defaulted properties going up for auction are located. Not all the homes up for auction are vacant, though – and you could be arrested for trespassing if you stroll onto someone’s land. Then again, you could strike a deal to rent the house to the current resident – that’s one way many of my students make a nice, monthly profit on their purchase.
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