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Every now and then, I hear talk about a “secret new opportunity” in the business of tax sale overages (aka – “excess proceeds”, “overbids”, “tax sale surpluses”, etc).
The Truth About Tax Sale Overages This is all sounding pretty interesting, right? The only problem with everything I’ve said so far is… I’ve been describing the most ideal situation ever. While it can certainly pan out very similar to the way I’ve described it above – there are also a few downsides to the excess proceeds approach you really ought to be aware of…
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Lovers and Haters, Hats 2 Horns, Celebrating a few birthdays:For example, the County Treasurer may be in charge of the overage, and a person within the office may be responsible for maintaining the list. The Real Story Behind Tax Sale Overages & Excess Proceeds (Good, Bad & Ugly).
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Dreams dancing on cloud nine, mercy and goodness, angels on hand, hand out to help the lost, warm arms at rest. Angels in packs, angels in hosts, angels everywhere.Ran over by a reindeer, song birthday, hits and misses, cancer kills, bottle of pills to live. Lovers and Haters, Hats 2 Horns, Celebrating a few birthdays:
Washington Marines or not, joys and pains, long lives together, dreams in the winds. Facebook, hits and misses,Chris Green, dressed in blues. Sunny and bright, good guy, I have been told, great job on the water. Love and honor, one of the few, guns to fight the wars. Marines in blues, dances at weddings, joys and pains, dreams to locks of hares, lots of luck.
The Real Story Behind Tax Sale Overages & Excess Proceeds (Good, Bad & Ugly). Seth Williams, Online Views Shared, Thanks So Much.
If you want to pursue this strategy – here’s how you can get started:
Step 1: Verify that you can actually collect excess proceeds in your state (use the map above as a starting point – but verify its accuracy with a third-party professional before you get started).
Step 2: Get a delinquent tax list. There are a few ways to do this (another of which is described here).
Step 3: Send out a direct mail campaign (preferably, a few months from the foreclosure date – when motivated sellers are most motivated to unload their property for next-to-nothing prices).
Step 4: Send out offers for as low as possible and buy as many as you can (preferably – ones that are actually desirable).
IMPORTANT: You should NOT pay off the delinquent tax balance during your purchase process (you will most likely have to accept a Quit Claim Deed rather than a Warranty Deed for the property).
Washington Marines or not, joys and pains, long lives together, dreams in the winds. Facebook, hits and misses,Chris Green, dressed in blues. Sunny and bright, good guy, I have been told, great job on the water. Love and honor, one of the few, guns to fight the wars. Marines in blues, dances at weddings, joys and pains, dreams to locks of hares, lots of luck.
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