Purchasing property tax liens in Colorado, Wyoming and Montana

[Will Sifert]

Has anyone purchased a tax lien from a tax sale in any of these three states (Colorado, Wyoming and Montana ) ? I see they are all tax lien states. I was reading about WY and the process they use; the computer randomly pulls a number from everyone who is registered, and if your number is selected you get the option to say yes or no. If you say no another number is generated but you sit out till it goes through everyone else. Looks like the tax sales are still held in person. Not many properties go to tax sale in each county from what I see. Also see how they don't want companies or agents buying but only people who are buying in their own person name for themself.   I need to research Colorado and Montana, anyone purchase from either of these 3 states and wouldn't mind sharing any info ? Thanks 

[Jerry W.]

All of the things you said are pretty spot on @Will Sifert, the odds of getting a property for taxes are extremely rare.  Maybe in a case where the owner had no relatives and died and there is no one to pay taxes.  Most of the time the folks scape up money after awhile and pay them off.  The good part is that you get 15% interest on them until they pay it and a 3% penalty.  I have bought about a dozen over the years and have never gotten a property.  I am aware of one or two times where a decent property was eventually converted to ownership, but often the ones who go 4 years are pretty derelict properties.  Abandoned houses on super weird lots on the side of a hill or in an alley, etc.

Often the taxes are only a few hundred dollars so even at 15% you don't make but $45 a year.  there is still the hope that you will strike it rich.  I cannot speak to other states.