Tax Lien Certificate - For Sale
I am looking to sell the assignable rights to a tax lien certificate that I won at the Vanderburgh County tax sale on 8/23/2019 for $40,000. The certificate is for a 5 acre lot of land in Evansville, IN, specifically in Northwest Vanderburgh County in Darmstadt. We had hoped to eventually redeem the certificate and obtain a tax deed for the property to build a home on; however, our circumstances changed and we have a different target in mind. The land is worth more than $40,000, and I could eventually sell for a profit once the process is complete and take possession; however, I need the capital now that is tied up in the certificate.
Just briefly on the Indiana tax lien process. The property owner has 12 months to pay the taxes owed to avoid losing the property. If paid within 30 days of 8/23/2019, they don't have to pay extra penalties. If they pay within 6 months, they pay the minimum bid + 10% and a 5% per annum rate on the excess bid. If after 6 months, they pay min bid + 15% and still 5% per annum on the excess. Tax lien holder has to give notice after 30 days and again after 12 months. If not redeemed after 12 months, tax lien certificate holder receives a tax deed and can file an action for quiet title.
I have not engaged a title company to do a title search yet, but I did my own research at the county recorder before the auction and found no liens or mortgages filed against the property.
If you're interested in buying the rights to the certificate and understand the Indiana tax certificate process, please PM me.
Thank you,
Micah