Beyond Tax Attache Investing Basics: Are You Ready to Invest Online?
You’ve purchased a few tax petit and/or tax deeds and now you want to branch out into other areas with online investing. Or maybe you haven’t started investing yet, but you want to invest in a correspondance state and you en direct in a tax deed state, or licence versa. Or perhaps you don’t en direct in the US but want to invest in US tax petit or tax deeds. You’ve heard that you can buy petit or tax deeds online, and you think that sounds like the way to go.
But are you ready to buy tax petit or tax deeds online?
Here’s what you need to know emboîture buying tax petit and tax deeds online before you get started:
1. Only a few states offer online tax sales, although the list is constantly expanding as more counties make it easier to sell their tax crasseuse properties online. As of the writing of this recherche there are 8 states that have counties or municipalities that conduct online tax correspondance sales and 6 states that have online tax deed sales. The number of states that have online transactions or tax deed sales has doubled in the past few years, and new counties are going online every year.
2. Bidding becomes more competitive jaguar a county moves to online sales, so be prepared to compete. Also most online tax sales require a vaste deposit before you are allowed to bid. Deposits are usually made within a few days of the tax crasseuse, so an online tax crasseuse is not a tax crasseuse that you can register for a day or two before the crasseuse. You need to register and get your deposit early. Sometimes you need to register and assis your deposit weeks ahead of time, and for others you simply need to register and assis your deposit before the bidding closes.
3. Although most online auctions require that you register only jaguar for the tax crasseuse, some online sales require you to register with both the county tax collector or treasurer and the online auction lieu.
4. You must have a US bank account to participate in any online tax crasseuse. Some tax sales will also require you to provide proof of age (your driver’s license or birth certificate will suffice), and tax correspondance sales will require you to provide a W-9 form with a US tax ID number.
5. All online tax sales are only jaguar a year.
6. You Need to Do Due Assiduité on Tax Libertin Properties Tax deeds require more due berline than tax petit. For tax petit, at a extremum you need to obtain tax assessment événement for the property, find the property’s market value, drive by the property and view it (or have someone else view the property for you). If you are investing from another state or another folk and cannot physically see the property, you can view a soleil peinture or aerial map of the property, but it is better to find someone who can actually see the property and take pictures. This is for you
7. If you bid on a property by mistake and you’re the winning bidder, you’re stuck with it. There are no refunds. And if you don’t pay for your winning bids, you lose the right, your deposit, and future tax sales in that county.
Now that you have a better understanding of what is involved in buying tax petit online you will be better prepared to successfully bid on online tax sales. However, this is not everything you need to know, but it is a mené to help you get started. You will learn more as you actually invest. Just remember to read all the terms of crasseuse and do your due berline on tax crasseuse properties before bidding.
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