Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
Indiana Tax Sales
Hi Guys,
I'm planning on going to at least one Indiana Tax Sale coming up in the next few weeks. You can check out all the dates and times here (http://www.sri-taxsale.com). I have a few questions for those that have been around the block in Indiana:
1). How far above the minimum bid does the overbid usually go?
2). Is there a flat fee you must pay to the county to purchase for each tax lien purchase?
3). Can someone spot check my assumptions below? Assume you are bidding on a property with 10k of back taxes/assessments. You end up winning the tax lien with 20k. Assume that the property owner pays it off a year later right before your right to foreclose.
Total Return= 10K *15% Penalty + 10K * 10% interest= $2,500 less any fees to the county or auction company.
4). After you purchase a tax lien in Indiana does the holder of the tax lien need to take any action before the 1 year redemption period?
Thanks in advance,
Hobart King