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Updated over 5 years ago on . Most recent reply

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11
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John Roorda
1
Votes |
11
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Indiana - DIY tax lien noticing?

John Roorda
Posted

I'll be visiting my first tax lien auction in a few weeks (Lake county), and I'm trying to get the most out of my relatively limited war chest. I'm currently registered for the auction as an LLC, but as I understand it, there was a recent change to IL law that requires corporations to hire an attorney for all noticing.

I'd rather be putting that money into more liens vs. into an attorney's pocket, and I'm wondering if I'm better off re-registering as an individual so I can do my own noticing.  There's a title company in town that says they specialize in tax sale title searches, so they can provide all interested parties that need to receive notice.

Is it as easy as finding a template, copying and pasting parcel and owner information, sending out certified letters and taking out a newspaper ad?  The attorney's fees are steep (and I believe can't be reimbursed if not redeemed), but it would also suck to not get the deed because I screwed up noticing.

Anyone here done their own noticing?  Any tips and tricks you'd like to share?  Thanks!

Most Popular Reply

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19
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10
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Justin Smits
  • Flipper/Rehabber
  • Highland, IN
10
Votes |
19
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Justin Smits
  • Flipper/Rehabber
  • Highland, IN
Replied

@John Roorda if you use an entity, you must hire an attorney to do the noticing. I wouldn’t suggest buying in your personal name for a number of reasons. If you’re worried about spending $1000 or so per parcel for an attorney to do the job properly, then the deal probably isn’t very good. Doing it yourself is an invitation for mistakes and may end up in you forfeiting your right to perfect a lien into a deed. I have purchased several hundred tax liens in Lake County. Happy to answer any other questions

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