My First Tax Lien Sale

[Atha Winston]

I have been a member for awhile now and I have been reading and learning about all the different strategies for Real Estate. I decided to go to my first tax sale which was very interesting. First of all they don’t truly advertise this information very much. I happened to scroll on the county website and came across the Tax Sale Package. In Champaign County there is a registration form that has to be filled out by a certain time. There is a 500 dollar deposit and fifty dollars for the available list which is sent via email. You get the list a week or so before the sale that way you can have time to focus on the parcels you want. Second; it is very important to know what your buying so go out and drive by this parcels!! Illinois has a 2 1/2 redemption period. However, this experience was fun. The day of the sale you can tell everyone is familiar with each other which let’s you know same companies come every year!! I had to make sure I bought one of my companies blank signed checks to the sale. It’s a requirement in order to participate. You choose a laptop and sit and wait for the sale to begin. Illinois is a bid down state which bidding starts at 18% down to 0%. Let me tell you know there were a lot of 0% winning bids. Which got me to thinking the whole point should be to gain interest off your investment for you solving someone’s problem for them! That’s just my thinking but it was sure fun to watch people slam their finger on that mouse to click zero. I walked away proud because the four parcels I was interested in; I was able to bid 18% & 12% and purchase those tax lien certificates. It was an eye opening experience for me and I will be back for next year. I am learning as I go. I am on my way to greatness one move at a time. I was just happy that I finally took a step and got my toe wet in something. I just wanted to share my first experience!! To anyone who reads this be blessed and have a wonderful day!!!