Rogue Real Estate Investor Collection

Rogue Real Estate Investor

ONE

The Truth about Real Estate Investing

“Some people handle the truth carelessly;

others never touch it at all.”

–

nonymous

So, you are thinking of investing in real estate or you own a house and would like to buy some

rental property.

Doe

sthe

phrase

"caveat emptor" sound familiar?

Let the buyer beware!

Real

estate investing, including owning your own hom e, is a great way to enjoy a piece of the

American Dream, but it comes with a price.

Rarely have I seen a realistic portrayal of both t

he good and the bad sides of real estate

investing.

Many late night infomercials and countless books would have you believe that "no

money down" and creative financing techniques can take you fr om rags to riches with little more

than the classified adverti

sements, a phone and a quick appointment to consummate the deal.

On the other hand, friends, family and even the Wall Street gurus will tell you t hat real estate

investing is just not a good idea. It’s not a liquid investment.

The tax advantages were tak

away in 1986.

Renters are all low

life, societal rejects who are intent on destroying your property

and living in your rental house for free.

As is usually the case, the truth lies somewhere in between.

Few people will argue that owning

your own home

is a bad idea.

After all, it is a forced method of investing in a financial instrument

that you can see and feel, and the taxes and insurance are even deductible.

What about all the other ways to invest in real estate?

Contrary to what most people t hi

nk, there are many different ways to invest in real estate:

If you are a passive investor who desires a low

risk investment with almost no hassles

that consistently returns about 15 percent per year, Real Estate Investment Trusts

(REITs) might be your t ic

ket.

If you do not

mind doing a little research, making some phone calls and possibl y going to

an auction, t hen tax lien certificates might interest you.

If you are ready to get your hands dirty, but loathe the prospect of dealing with renters,

then yo

umightlikebuyingundervaluedrealestate

that you c an fix

up for a tidy profit.

Finally, if you have enough courage to deal with renters, consider letting someone else

pay down a m ortgage and leave you with a handsome nest egg.

As you can see, I’ve on

ly presented a few options for investing in real estate. I t is m y opinion

that real estate should be an important part of an investor’s portfolio.

Why?

First, land i s a

Rogue Real Estate Investor

precious commodity that is m ore or less finite during our lifetime.

The population of t

he world is

growing and we will need more land t o support the voracious demands of the human species.

Second, natural resources such as lumber and building supplies are dwindling.

With fewer

supplies, prices are rising and existing homes are becoming more

valuable.

Finally, real estate

is one of the few investments

where

you can use a little of your money and a lot of someone

else’s money (i.e., a mortgage company) to control a large investment.

Now, let’s get back to the truth about real estate investing

As a real estate investor, I have read

many books on the subject.

Ihaveattendedseminarsandclasses,andIhavepurchasedmore

than one of the infomercial programs.

There is a lot of good inf

ormation to be learned from

these

material

;however,mostr

eal estate courses come at a hefty price. In the end, nothing

works better than learning it on your own.

What are the benefits of real estate investing?

First, you make money through net cash flow, principal or equity, appreciation, and tax

advantages.

If you choose to be a landlord, your net cash flow is the difference between what

you charge for rent and the monthly mortgage payment, including principal, interest, taxes and

insurance. Unless you

purchase

the property at well below market value, it is

agoodruleof

thumb to make at least $100 p er month to offset the occasional repairs, fix

up costs, and move

in/move

out costs.

Equity is the amount of the original purchase price that you are actually paying off each month.

The shorter the mortgage ter

mandthelowertheinterestrate,themoreequityyouwill

accumulate.

Appreciation is by far the best part of real estate investing. Time is your f riend. By investing in

"bread and butter" houses (a t erm I picked up from R obert Allen [1990]) in good loc

ations, the

value of your house will rise each year. The better the location is, given a good economy, the

higher the appreciation. In my area of Johnson County, Kansas (a suburb of Kansas C ity,

Missouri), houses have appreciated

an average of

7percentpe

ryearfor

many

years. Although

that may not sound spectacular to those of you in markets such as Los Angeles, Phoenix, Las

Vegas or Miami, it has been very consistent with

minimal

downturns.

As of 2008, the

se same

markets that many investors thought could

never go down are experiencing severe corrections.

Finally, tax advantages include the following deductible items: depreciation of the property and

other equipment, taxes and insurance, repairs and supplies, mileage, and office supplies used

for the pro

perty.

That sounds pretty good so far. Are there any disadvantages?

You bet! First, if you buy a house using creative financing or if you buy a repossessed home,

you are in for some fun times. Get ready for cleaning, painting, replacing carpeting, remov

ing

trash, mowing, raking, repairing plumbing, in stalling fixtures, replacing furnaces or air

conditioners, and whatever else is needed to get the property sold or rented.

IrecallaVeteran’sAdministration(VA)repossessedhomethatmywifeandIbough

tinJanuary

1996. While f ixing it up, we heard several loud creaking sounds that eventually were followed by

water spewing from broken copper pipes. Had we not been working when the water pipes

thawed, the house would have been flooded. Luckily, the VA pa

id the plumbing bill because the

pipes were apparently f rozen when we bought the house.

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Next, advertising f or and securing a decent renter can be expensive and time consuming. The

screening process for renters is often an arduous process of phone calls, s

creening, and

crossing your fingers. If you are not nervous about renting your property, I suggest watching the

movie

Pacific Heights

.Regardlessofwhatyourleasesays,rentershaveinherentrightsand,in

the unfortunate event of eviction, you often los

Repairs are the Achilles heel of the rental game. After purchasing m y first rental property, a

continuously clogged sewer line led to installing a new line. Thank you very much

–

there went

all of m y annual net cash flow (approximately $1,200) in one f

ell swoop.

Finally, if you think t hat selling a property is as easy as a classified advertisement and a sign in

the yard, you are wrong. O nce a property has been labeled a rental house, its inherent value is

slightly low

er than owner

occupied houses. And

ven in a good market most buyers use a real

estate agent. Why not? It’s free after all.

The seller has to pay the realtor fees, right?

actuality, the fees come from the real estate transaction and it may appear to be free, but really

both the buyer and

seller are paying the fees.

If I haven’t scared you away, then let’s get starte

dwiththe

“

10 Steps to Getting

the Game.

”

Rogue Real Estate Investor

TWO

10 Steps to Getting i

n the Game

“If you fail to plan, you plan to fail.”

–

old saying

Step 1: Goals

What a

re goals? Goals are plans that we intend to achieve. Goals m ay change t hroughout our

lives as our values change. Although you may not r ealize it, everyone has goals. F or mos t

people, goals are unwritten. Your daily goals may be to wake up on time, m ake it

through work,

and spend time with your f amily or f riends.

Short

term goals for a real estate investor may include calling at least five property owners per

week or making at least one offer on a property this month. Long

range goals may be to own

and op

erate 10 rental properties, invest in one REIT mutual fund

or attend one foreclosure or

tax lien auction. You may aspire to

long

term goals

such as owning a company, writing a book,

or traveling around the world. These goals may seem unattainable, but

you

can begin

achieving small

goals.

Stop for a few minutes and think about your

long

range

goals. Now write them down in the

space provided below. Make sure that your goals are specific and measurable. Notice that a

column is provided for a date by whi

ch you wish to achieve the goal.

Goal

Date to Complete

Now consider your short

term goals. Are they in alignment with your long

term goals? Each

short

term goal should be a brick

used to build a

long

term goal.

Rogue Real Estate Investor

The most famous e

xample of a study done on goals was completed on the 1954 graduating

class at Yale. The study concluded that the 3 percent of the students who had written goals

earned m ore money than the other 97 percent combined, who either lacked goals or had not

formal

ized them (Zig Ziglar, 1995).

Comedy genius Jim Carrey ha

donehugegoal:

to become an actor. He was so convinced

would achieve

this that he wrote his goal as a check to himself in the amount of 1 million dollars.

As it turned out, he received his fi

rst m ovie role for that amount just before t he date on his

check. Now that's a goal you can "take to the bank."

Ihavereadmanybooksthatstresstheimportanceofformalizedgoals;however,veryfewever

get to the heart of the purpose of goals. Stephen

Covey's book

The 7 Habits of Highly Effective

People

(1990) has a great discussion on creating a personal mission statement. Many

businesses, in fact, have mission statements. A personal m ission statement simply describes

your purpose. Let me share with y

ou part o

fmypersonalmissionstatement:

My mission is to live a complete and satisfying life, loving others

and loving myself, inspiring others and challenging myself, giving

others and satisfying myself.

My hope is that in some small way

my presence

makes a positive difference in the w orld.

Ihavealsoidentifiedpersonalmissionstatementsforvariousaspectsofmylife,suchasbeing

afather,husband,friend,professional,etc.Mygoalsshouldalwaysbeinalignmentwithmy

personal mission state

ment.

Step

2: Get Your Personal Finances

Order

If you are thinking about any form of hands

on real estate investing, such as buying a home to

fix up or purchasing a rental property, you will quickly find out that you must get your personal

finances i

norder.

Check your credit history

Bank

and mortgage companies will check your credit history. Wouldn’t it be nice to know

yourself what’s going on? Even if you have excellent credit, the credit bureaus

often

will have

mistakes on your credit profile.

According to the Fair Credit Reporting Act, you may be entitled to receive a free copy of your

personal credit report if you have been

denied

credit, employment or housing in the last 60

days, or if adverse action has been taken against you in the last

60 days. Some state laws

require free reports or even a reduced fee for consumers in their states.

You are also entitled to receive a free annual credit file from each of the national credit reporting

companies. For more information, call (877) FACTACT o

rvisit

http://www.annualcreditreport.com

There are three major credit bureaus to check:

Experian (formerly TRW)

–

http://www.experian.com

.Foronly$

15.00

you

can check

your credit profile

and credit score

online, print it or save it to your computer.

It is quite

interesting to see what you’ve b een up to and what the credit bureaus see. You may be

able to receive a free copy, so check that first by calling this

number:

(866) 200

6020

Rogue Real Estate Investor

Otherwi se, contact Experian by phone at

(888

)

397

3742

or by postal mail at

475 Anton

Boulevard, Costa Mesa, CA 92626 or 955 American Lane, Shaumberg, IL 60173

Equifax

–

http://www.equifa

x.com

You can order your personal credit profile

plus your

FICO (Fair Isaac Corporation) credit score

online for a $

.95

service fee

To use

Equifax’s self

service line, contact them by phone at (800) 685

1111. A request by postal

mail can be sent to Eq

uifax

Credit

Information Services,

Inc.

,P.O.

Box 740241, Atlanta,

Georgia 30374.

TransU

nion

–

http://www.transunion.com

.Likeitscompetition,youcanorderafullcredit

report

,includingcreditscoreandde

bt analysis

.TorequestacopyofyourTransUnion

credit rep

ort by phone, call

(800)

888

4213. You may also order your credit report b

mailing your request t o TransU

nion, P.O. Box 2000, Chester, Pennsylvania 19022.

Note:

You can also purchase a

three

one

credit report

that contains reports from a

ll three

redit

ureaus for approximately $30

to $40. All three credit bureaus now offer mo nthly credit

monitoring as well.

Now, what happens if you find a mistake? Contact the credit bureau by certified lette

rand

explain what the discrepancy is. Be sure to attach a copy of the disputed report. The credit

bureau will then respond within approximately 30 days

.If

the item is a mistake, then the bureau

must remove it from your report.

For legitimate problems

that remain on your credit report, prepare a typewritten response that

you can provide when applying for a loan. For example, if you missed a few payments because

of a death, divorce, bad business loan, etc., be honest and explain what happened and why it’

not a problem now.

For more advanced m ethods of achieving superior credit or helping others with credit education,

visit

http://www.rogueinvestorcrediteducation.com

Set up a personal fili

ng system

Iknowthissoundsalittleobsessive,butyouwon’tbelievehowmuch

the following

has helped

maintain my personal finances over the last 1

years.

Purchase several

folders and label

each according to major categories of expenses or other

important information. Place the

folders in a file box or cabinet. You will need a separate f older for each account, such as bank

accounts, utilities, mortgages, credit cards, tax information, automobile expenses, loans,

warranties, investments, etc. Star

tfresheachyearsoyouwillhaveyourpersonalfinancial

details by year and category.

Instead of looking in a drawer or box, I

can look up my utilities in 2000

if I need to. I can check

my Visa account for 1998 if someone has a question. Of course, mos

timportantlyyouwillneed

access to your tax information.

With affordable business and accounting software available, now may be the time to automate.

Calculate your net worth

ext

figure out how m uch money you have and how much you are in debt. A fa

ncy term for this

is called “net worth.” G ather your c redit rep orts and your latest statements from banks, creditors

and others. The simplest way to think about it is to divide your life into what you

own

and what

you owe:

Rogue Real Estate Investor

What You Own (Assets) =

Persona

lProperty+CashandSavings+RealEstate

What You Owe (Debt

or Liabilities

Loans + Credit Card Debt + Real Estate Mortgages

Net Worth =

What You Own

–

What You Owe

What you own includes personal property such as available cash on hand, pennies

in jars,

furniture, jewelry, appliances, electronics, kitchenware, tools, lawnmowers, clothes, blankets,

toys, etc. Think about what you have in terms of replacement. In other words, if a fire or natural

disaster wiped out your home, what would you lose? Y

ou may be surprised. To be fair, you

should really use a fair market value or discounted value of what your personal property is

worth.

If you have any vehicles, find their “blue book” value. You can visit your public library and ask to

see the

Kelley B

lue Book

,oryoucancheckonlineby

visiting

http://www.kbb.com

look at any and all savings accounts, checking accounts, mutual funds, stocks, bonds and

other saving instruments. Find your latest statement and

record how much you have saved.

Finally, if you o wn a house, rental properties, time

shares or any interest in real estate,

determine a fair market value using one of the methods shown in Chapter 4. If you only own a

percentage, be sure to account for tha

t. For married couples, you will usually include both

spouses’ property and calculate one net worth.

Of course, the sobering truth comes when you calculate what you owe. First, go through all of

your personal property, including vehicles, and write down

all of your loan balances. Now take

all of your credit card debt and other credit lines or loans and jot down all of your latest

balances. Finally, find out the payoff balance on your house

and/

or any other real estate.

Here is an example of an easy way

to calculate your own net worth using a spreadsheet. You

can also do this on paper very easily. First

itemize

all of your

assets

and

liabilities

non

column.

For each item, input the value of what you own

(asset

)

or the value of

what you owe

(debt

or li

ability

)

in separate columns

.Subtractthe

assets

column from the

liabilities

column to

come up with the net value of each item. Finally, add all of the items in t he net value column to

come up with your net worth. Notice that some items will be negative (

this is especially true with

credit card debt).

Rogue Real Estate Investor

Net Worth Example

John and Shelly Heineman

Item

Assets

Liabilities

Net Value

Cash

$200

Jewelry

$2,500

$495

$2,005

Furniture

$3,000

$2,450

$550

Tools

$1,000

Riding Lawnmowe

$2,250

$925

$1,325

Motorcycle (Yamaha 850)

$500

Ford Explorer

$17,750

$16,950

$800

Honda Civic LX

$16,690

$17,250

$560

Dell

Laptop

$1,650

Kitchenware

$3,000

Appliances

$2,500

Stereo System

$5,000

,000

Visa Accou nt

$3,995

Student Loans

$7,269

MasterCard

$2,125

House

$132,500

$95,000

$37,500

Checking Account

$525

Savings Ac count

$2,148

Company 401

(

)

lan

$5,250

Net Worth =

50,004

ooking over John and Shelly’s net worth

it is interesting to note that more than half of their net

worth is related to real estate. If you are still renting, you might think twice about it now. Owning

your own home is one of the best ways to sta

rt building a positive net worth. Imagine combining

the net worth of your own home with that of other property and real e state investments.

As long as we are getting our personal finances in order, let’s talk about debt. I think everyone

reading this know

swhatdebtis,butdoyouknowthattherearetwotypesofdebt

–

good debt

and bad debt? This is open for debate, but I believe that it is important to distinguish between

the two.

Real estate is the best example of good debt that I can t hink of. In fac

t, if you are not willing to

take on some good debt, then your chances of financial independence will be severely limited.

Your only other option is frugality and years of patience. Other ty pes of good debt include

student loans, home equity credit lines,

supplier credit lines and personal signature loans.

Now, let’s talk about bad debt. As you can imagine, the worst t ype of debt is revolving debt or

credit card debt. Credit cards are not inherently bad, but how you use them can be devastating

to your abil

ity to succeed financially. In addition to their high interest rates (some as high as 24

percent), credit cards often have annual fees, late charges and credit limit fees. If you are

seeking ways to become financially free, pay off your credit card debt. I

fyouhaveequityina

house, consider obtaining a home equity loan to pay off the credit card debt.

Having said that, you should have at least one major cred

it card. In today’s society, it i

salmost

impossible to live without using a credit card. I use

aVisadebitcardforgroceries,hardware,

retail shopping, gasoline, restaurants and just about everything I do. Check with your bank

about obtaining a debit card. For personal vacations and certain large purchases, I use a

Rogue Real Estate Investor

different credit card. For bus

iness, real estate and business travel, I use another card. As a

bonus, the Visa card that I use gives me cash back.

Why use a credit card? First, as long as you pay the balance off each month

on time

,itislike

borrowing money for 30 days. Another reas

on to use a credit card is to establish your credit

profile. Purchasing by credit card is also a great way to keep tr ack of your purchases each

month. It is especially valuable during tax season to have a nice record of your expenses.

Finally, there is act

ually power in purchasing through a credit card. For example, if you purchase

an item

using

acreditcardandaproblemarises

and a retailer is not willing to

solve the

problem through an exchange or by giving you

your money back, you can actually call y

our

credit card company and place a dispute. The credit card company will then contact the

merchant and they must provide proof to substantiate their claim or you will be given your

money back. It’s a powerful and free ally.

Auto and personal loans probab

ly rank second on the bad debt list. Automobiles, although

necessary, are a depreciating asset and not an investment, except for a few vintage cars. If you

are looking t o free up cash flow for real estate investing, consider carefully what you are dri ving.

Maybe the SUV is not really necessary for the bad weather that only occurs once or twice a

season. Perhaps the extended cab truck is not really necessary to haul lumber once a year,

when you can rent a pickup at U

Haul, Home Depot or Lowe’s. Remember that

the car loan is

just one part of the total automobile cost; there are als o

fees for

insurance, inspections, re p

airs,

sales tax and licensing

Step 3: C onsider Your Business Structure

Each and every business has a structure. You have probably seen or hea

rd of businesses that

are incorporated. For example, our compan

ies are

called Mind Like Water, Inc.

and Rogue

Investor, LLC.

If you are just starting off, you will be working as a sole proprietor. All that means

is that you and the

business are the same. I

fyouare

married, most likely your household (i.e.,

husband and wife) and the business are the same.

Asoleproprietorshipistheeasiestbusinessentityavailable.Youreallydon’tneedtodomuch

of anything except keep track of your profit and loss

so it can be included on your personal

income tax return. You can even use your own checking account or set up a separate account

and fill out paperwork to use a “doing business as” or DBA name. An example would be JBK

Real E state Investing. Notice that yo

ucannotlegallyuseadesignatorlikeInc.,Corp.,LLC,etc.

Sole proprietorships have one major drawback. Not only does the money flow back and f orth

from your personal accounts, the liability or risk also flows back and forth. That is why as a

busine

ss progresses, it is often set up in another structure to limit the personal li ability of the

owners.

Some small business structures to consider i nclude the following: Subchapter S Corporations,

Chapter C Corporations,

Limited Liability Companies (LLCs)

,LimitedLiabilityPartnerships

(LLPs), general partnerships, and other structures.

Limited

liability c

ompanie

For real estate investors,

one of

the best option

is a Limited Liability Company. LLCs are

similar to C hapter S corporations, except

that

they can exist for a defined period of time.

Owners receive the t ax advantages of a partner ship, while also receiving the protection of a

corporation. To make it even better, all states except Massachusetts allow an LLC to be formed

with one person.

Rogue Real Estate Investor

LLCs m

ay be formed for most businesses, except some professional businesses that require

licensing for protection of the public. Ge ner ally, doctors, lawyers, accountants and other

professionals cannot use an LLC to practice. There are some other businesses that

are exempt,

but as far as real estate investing

goes

,you’vefoundthejackpot.

Another reason to set up an LLC is that some states and other governm ent agencies require

either a U.S. social security number or a federal tax I.D. number to invest in f orecl

osed

properties. W ith an LLC, even non

U.S. citizens can apply for a federal tax I.D. number.

Summary of LLC benefits:

Allows for partnerships with limited liability.

Protects personal assets of owners or m embers.

One owner/member allowed in all states,

except Massachusetts.

May

not requi

re an annual s hareholder meeting

,likeChapterCandScorporations.

Favorable tax status

–

can be set up and taxed at owner’s tax rate (default) or as a

company (requires filing other paperwork).

How does an LLC work?

First, decide whether you will be setting up th

eLLCyourselforwhetheryouwill

contact an

attorney or accountant . If you are planning to do it yourself, then decide where you will set it up.

You do not have to set up an LLC in the state that you reside

in; however, it may be easier. If

you plan on setting it up in another state, you will probably need an agent or representative who

lives in that state to act on your behalf. There are companies that will gladly do this for a small

fee.

Decide on t he str

ucture of the LLC. There are two main types of LLC

.Oneiscalledamember

managed LLC and t he other is called a manager

based LLC. A member

managed LLC

essentially says that all owners (“members” in LLC lingo) are equally r esponsible for

managem ent of th

eLLC.Amanager

based LLC say s that

certain members (the “

managers

”)

are given authority to run the LLC.

The manager

based LLC can get complicated if you offer ownership to others. The U.S. Internal

Revenue Service (IRS) and states could perceive the LL

Cassellingsecurities,inwhichcase

you would fall under U.S. Securities Exchange Commission (SEC) regulations. To avoid this,

make sure you only offer membership to a limited group of people, especially people whom you

know or have dealt with, and keep

the total membership under 35.

Decide on a name. Check your state’s requirements. Usually the name must incorporate “LLC,”

“Limited Liability Com pany,” or some other variation. An example would be Apex Properties,

LLC. C heck with the state to make sure

the name has not been taken, before filling out the

paperwork.

To set up an LLC, you

really only need to fill out an Articles of Organization; however, you

should also have an Operating Agreement that specifies the details of ownership,

compensation, voti

ng rights, etc.

After you have set up your LLC, don’t forget insurance. You will need to obtain commercial

liability insurance to cover losses. Please consult with an i nsurance agent.

To help you find out more information about setting up a business in

aparticularstate,the

following table provides relevant phone numbers and website addresses for all of the states:

Rogue Real Estate Investor

State

Phone No.

Website Address

Alabama

334

242

5324

http://www.so

s.state.al.us/BusinessServices/Default .aspx

Alaska

907

465

2530

http://www.commerce.state.ak.us/occ/home.htm

Arizona

602

542

3521

http://www.azcc.gov/divisions/corporations/

Arkansas

888

233

0325

http://www.soswe b.state.ar.us

California

916

657

5448

http://www.ss.ca.gov/busin

ess/business.htm

Colorado

303

894

2200

http://www.sos.state.co.us/pubs/business/main.htm

Connecticut

860

509

6151

http:/

/www.concord

sots.ct.gov/ CONCORD/index.jsp

Delaware

302

739

3073

http://www.state.de.us/corp

District

Columbia

202

442

4432

http://dcra.dc.gov

Florida

850

245

6051

http://www.dos.state.fl.us/doc/index.html

Georgia

404

656

2817

http://www.sos.state.ga.us/corporations

Hawaii

808

586

2727

http://www.businessregistrations.com

Idaho

208

334

2301

http://www.idsos. state.id.us/cor p/corindex.htm

Illinois

217

782

6961

http://www.cyberdriveillinois.com/departments/business_ser

vices/home.html

Indiana

317

232

6531

http://www.in.gov/ sos/business/in

dex.html

Iowa

515

281

5204

http://www.sos.state.ia.us/business

Kansas

785

296

4564

http://www.kssos.org/main.html

Kentucky

502

564

3490

http://sos.k y.gov/business/

Louisiana

225

925

4704

http://www.sos.louisiana.gov/tabid/66/Default.aspx

Maine

207

624

8400

http://www.state.me.us/sos/cec/cec.htm

Maryland

410

767

1184

http://www.dat.state.md.us/sdatweb/charter.html

Massachusetts

617

727

9640

http://www.state.ma.us/sec/cor

Michigan

517

241

6470

http://www.michigan.gov/dleg

Minnesota

800

627

3529

http://www.revisor.

leg.state.mn.us/stats/322B

Mississippi

601

359

1633

http://www.sos.state.ms.us/busserv/in dex.asp

Missouri

573

751

4153

http://www.sos.mo.gov

/Default.asp

Montana

406

444

3118

http://sos.state.mt.us/BSB/index.asp

Nebraska

402

471

4079

http://www.sos.state.ne.us/business/corp_ser

Nevada

775

684

5708

http://sos.state.nv.us/business/

New

Hampshire

603

271

3244

http://www.state.nh.us/sos/corporate/Forms.html

New J

ersey

609

292

9292

http://www.state.nj.us/njbgs/index.html

New Mexico

888

427

5772

http://www.nmprc.state.nm.us

New York

518

474

4752

http://www.dos.state.ny.us

North Carolina

919

807

2225

http://www.secretary.state.nc. us/corporations

North Dakota

800

352

0867

http://www.nd.gov/sos/businessserv/registrations/index.html

Ohio

877

767

6446

http://www.sos.state.oh.us

Oklahoma

405

521

3912

http://www.sos.state.ok.us/forms/FORMS.HTM

Oregon

503

986

2200

http://www.sos.state.or.us/corporation/f orms/index.htm

Pennsylvania

888

659

9962

http://www.dos.state.pa.us/dos/site/default.asp

Rhode Island

401

222

3040

http://www3.sec.state.ri.us/divs/corps/index.html

South Car

olina

803

734

2158

http://www.scsos.com/forms.htm

South Dakota

605

773

4845

http://www.sdsos .gov/busineservices/corporations. shtm

Tenn

essee

615

741

2286

http://www.state.tn.us/sos/bus_svc/index.htm

Texas

512

463

5555

http://www.sos.state.tx.us/corp/index.shtml

877

526

3994

http://corporations.utah.gov/

Vermont

802

828

2386

http://www.sec.state.vt.us/tutor/ dobiz/llc/llchome.htm

Virginia

866

722

2551

http://www.state.va.us/scc/division/clk/fee_bus.htm

Washington

360

725

0377

http://www.secstate.wa.gov/corps/

West Virginia

304

558

8000

http://www.wvsos.com/business/services/formindex.htm

Wisconsin

608

261

7577

http://www.wdfi.org/corporations/

default.htm

Wyoming

307

777

5333

http://soswy.state.wy.us/corporat/corporat.htm

Rogue Real Estate Investor

Contact your state and find out what forms are necessary. An excellent resource for information

on LLCs is

the Nolo law guide entitled,

Form Your Own Limited Liability Company

(

Mancuso,

2007

Step 4: Purchase Umbrella Liability Insurance

When you first start investing, you may be too busy to deal with a business structure other than

asoleproprietorship;

therefore, it i s important to limit your liability as cheaply as possible. One

way is to purchase an umbrella liability policy. Umbrella

liability i

nsurance is extremely cheap,

usually only a fe

whundreddollarsperyearforone

million dollars worth of co

verage.

Most policies will make you bump up your current limits for your automobiles and house before

they will issue an umbrella policy. A s you purchase rental units you a lso

will

need to inform your

insurance company so that each one can be added on you

rpolicy.

If you haven’t

done so

already, you should consider consolidating all of your insurance to one

company and requesting a discount. That’s what I have done. That way you will be dealing with

the same company.

Here is why liability insurance is

portant. What if you purchase a property with a current renter

and the next day an ice storm causes one of your tenants to fall and break an arm? The tenant

may have the right to sue you for not clearing the walkway. A good umbrella policy

combination

with your property insurance

should cover you. By all means, speak with an

insurance specialist and read your policy in depth.

Step 5: C onsider the Tax Implications of Everything You Do

You’re a business now

so it’s time to reap the rewards that Congre

ss has established for

business owners. It basically boils down to this

:yo

ucanoffsetincomebyconsideringall

allowable expenses. For some of you, this will be a new way of thinking.

First and foremost, buy one or mor

eblankjournalbooksandkeepthe

in any vehicle that yo u

are going to use to look for, purchase and maintain

your

real estate

investments

.Writedownthe

starting date and mileage of your car. This will be the date that it was “put into service.” Now,

every trip, and I mean every trip,

that is related to your real estate business gets recorded.

Why? Because you can take a mileage deduction for all mileage related to your real estate

business. There is also an automobile deduction, which can be taken instead of mi

leage, but for

now it is

easier

to just use the standard mileage deduction. This changes,

but as of January 1,

2008, the standard mileage rate for business miles driven is 50.5 cents per mile

.Besureto

record the following trips:

Looking for properties

Meeting someone to look

at a property.

Visiting a bank or mortgage company.

Going to the library or bookstore f or research material.

Visiting the courthouse.

Buying supplies at a hardware store.

Buying marketing supplies.

Buying office supplies.

Meeting with a partner to discuss

arealestateventure.

Do not feel guilty about recording even the most mundane real estate activity.

Rogue Real Estate Investor

Next, keep track of all receipts related to your real estate

business

,suchasbooks,office

supplies, calculator, computer, hardware, tools, advertis

ing, marketing, professional fees

(attorneys, accountants, etc.). An easy way to do this is to set up a separate checking account

and use a separate credit card. Be careful,

because

some items may require keeping track of

usage, such as a computer used f or

both personal and business activities. Your tax specialist or

accountant will be able to help you or you can learn it as you go.

Step 6: Marketing

Like any business, you will need to spend some time developing or having someone develop

business cards,

logos, flyers, advertising copy and even magnetic signs for your car. You may

even want to develop a website to showcase propert

ies

that you have for sale.

If you are lacking

in ideas,

try

reading

Marketing Outrageously

by Jon Spoelstra ( 2001).

Real esta

te investing is a business, so you should treat it like one.

Once you get started, the

best form of marketing will be by word of mouth

so be sure to stand behind everything you say

and do.

Step 7:

Setting Up Your Business at Home

The final step in becom

ing a business is to set up an office or ar ea in your home or apartment to

use for conducting business. Since you will be placing a lot of phone calls and receiving a lot of

responses, make sure that you have an answering m achine or voice mail. Depending u

pon the

impact of the phone calls on your family, you might consider getting a separate phone line,

mobile phone or both. You will have to judge this on your own, but remember the object is to

make money not spend it. Try to balance being frugal with being

professional.

Most of you

who are

reading this already

own

acomputer,butifyoudon’t,

the majority of

public

libraries now offer computers with online access. With the Internet, research is just a few clicks

away.

Here is some other

office equipment

to consider as the need arises

:faxmachine,

scanner or

small copier, file cabinets and a desk. One way around some of the added expenses is to use a

local mail and copy shop, such as Mail Boxes Etc.

,UPS

Store

FedEx

Kinkos.

You can even

set

up a postal

mailing address to help eliminate some of the added junk mail or to m ake sure

you are able to separate your business activities from your family life.

Step 8: B uy Your Own Home First

Probably the single most important investment decision you’ll ever mak

eistobuyyourown

home. You’ve probably heard i t before and you may be saying it yourself, “Yeah right, I can

barely afford groceries.” If you don’t buy a house, you’ll never feel comfortable enough t o use

the real estate strategies I’m discussing. If y

ou don’t buy a house, you are making someone

else rich off of your sweat. If you don’t buy a house, you are less likely to build a substantial nest

egg. If you don’t buy a house, you’ll be paying Uncle Sam more in taxes than you have to.

Iknow

that

the m

ost common reason for not buying a house is

not being able to come

up with

the down payment. Believe me, it is possible if you set your goals, save

and use some of the

information contained in this book. My wife and I were a ble to buy our first house thro

ugh a

Federal Housing Administration (FHA) first

time homebuye r program with on ly 3 percent down

plus some closing costs. I was then able to borrow against my 401(k) plan at work for t he d

own

payment for a near no

money

down proposition.

Rogue Real Estate Investor

Owning your own

home is not a walk through dreamland. There will be maintenance, painting,

stopped toilets, water heaters to replace, air conditioners to fix and even the occasional large

expense of a new roof or driveway, but it’s your property. There is a sense of prid

ethatcomes

with owning a piece of the world.

If you are thinking about buying a house, I recommend contacting a good real estate agent who

works in the area you are interested in. Have the real estate agent act as your “buyer’s agent”

and she will be hi

ghly motivated to find you a property. You do know what areas you are

interested in, right? I hate to use this cliché, but I feel compelled to r emind you about the three

most important things in r eal estate: (1) location, (2) l ocation and (3) location. Wha

tthisreally

means is finding an area where housing is appreciating (going up in value), with good schools,

parks and police. M ake sure it is not too far from a metropolitan center or area of employment.

As a side benefit of buying your first house, you

will get a quick education in the real estate

industry. You will encounter numerous real estate agents and brokers. You will learn how to

evaluate a house, m ake an offer and a counter offer. You will get to sign a contract, and work

with a title company, a

swellasstructuralandmechanicalengineers/inspectors.Inotherwords,

you will see the whole real estate industry in action. If you p

lan on building a house, there is

even more to consider, such as architectural plans, soil testing, environmental surve

ys, general

contractors, subcontractors, and “a partridge in a pear tree.”

Step 9: Learn the Industry

As I have alluded to, real estate is not unlike any other profession. Each profession has i ts own

set of rules and language that you must learn. If you

are old enough to have worked in any

industry, you know that there are thin gs you do and say t hat only apply to where you work.

My f irst job at age 16 was working as

busboy. Perhaps you have heard some restaurant lingo,

like “86ing” something, which m ea

ns to get rid of it.

In the environmental field, where I worked

for over 15 years

acronym

speak is so prevalent that you might think another l

anguage was

being spoken. Here i s

an example: “In reviewing the Phase I, I noted that most of the BTEX

compounds

were ND.” If you understood that, then you must work in the field. The point is that

real estate is the same and you must learn the lingo. I even have a dictionary of real estate

terms. Appendix A of this b ook contains a list of what I believe are some of

the most important

terms, acronyms and abbreviations.

Spend at least a couple of minutes going through Appendix A. Occasionally we add new real

estate definitions on our

web

site at

http://www.rogueinvestor.com/definitions/real_estate_investing_definitions.html

Make sure you are comfortable with the real estate lingo. Here is a quick assignment for you

(hint, the answers are given at the end of this chapter

What is the difference between real estate and real property?

What is a deed and how does it differ from a mortgage?

The difference between what someone owes on a mortgage and what a property is

worth is called what?

What does FSBO stand for?

What is t

he M LS?

The value of most residential property is determined using the CMA process, which is

what?

Name at least one method for estimating the value of real estate.

Is a fixture, l ike a ceiling fan, personal property or real property?

Rogue Real Estate Investor

An agreement between

two or more competent and legal parties is called what?

10.

Arealestateagentwhoworksforabuyeriscalledwhat?

11.

Arealestateagentmustworkfora________?

12.

Moving a first mortgage to a second mortgage is called what?

13.

What is the best type of deed?

14.

Ofte

ntimes, one divorcee will use a ________ deed to remove his/her i nterest in a

property.

15.

True or false? Contractors are allowed by law to place a lien on a property if the owner

fails to pay their fees.

16.

Most conventional lenders require at least 20 percent

down or PMI must be obtained.

What is PMI?

17.

What does PITI stand for?

18.

What is an ARM?

Step 10: Know Your Investing Options

What are your investing options? First, you have to decide if you want to be a hands

on or

hands

off real estate investor. There ar

eobviouslybenefitsanddownsidestoeachone.Many

real estate packages focus only on hands

on investing, such as buying and selling houses or

investing in rental property. While this is a great way to build a substantial net

worth, it may not

be what yo

uarelookingfor.Ifyouare

looking for a more passive way to invest in real estate,

consider the following options.

Tax lien certificates

Tax liens result when real estate owners fail to pay their property taxes. County and municipal

governments rely

heavily on tax revenue

;

and rather than fight with property owners in court,

they have devised a revenue collection method that allows them to be paid, res ults in penalties

to property owners

and enables investors to make some serious money. Every state a

county is different, but essentially an investor can bid on a tax lien certificate, which allows him

or her to have control of the lien. Property owners must pay off the lien holder (investor) with

interest or face possible foreclosure.

To make it eve

nbetter,theinterestratesareoftenhighanditisasafeinvestmentthatis

backed by a local government entity. What kind of returns can you expect? Here is a sampling:

Nebraska

–

14%

Arizona

–

16%

Florida

–

18%

Illinois

–

18% for six months

Iowa

–

Tax deed sales

Some states and Canadian provinces foreclose on the tax liens and take possession of the

property’s deed. The deeds are then auctioned off and you

can

bid on possession of the

property. In many cases, you can pick up real estate for 20

to 30 percent of its value. In

essence, you are buying into a lot of instant equity. T ax deeds are one of the most exciting and

profitable ways to invest in real estate.

For instance, imagine finding a lake front lot in a prestigious community with a nea

rby golf

course and all the amenities. Now consider that the property values for lake front lots in this

area are $90,000 to $125,000. What if I told you that because the owner failed to pay his taxes

Rogue Real Estate Investor

the county took possession of the property and offered

it for sale for around $14,000, which

included the m inimum bid, taxes and fees? Imagine you have to bid a little bit higher to make

sure you win, let’s say by roughly $2,000. This

is not a

hypothetical example

is true!

Real estate investment trusts

Briefly, REITs are trusts that pool r eal estate properties together and allow investors to own a

small portion, just like stocks or mutual funds. REITs have some very specific guidelines to

follow, such as pa ying out 95 percent of their profits to their sh

areholders

through distributions

This often results in high dividend yields, with relatively low risk.

REIT dividend payouts are sometimes huge. I purchased a REIT a few days before the

company issued its normal dividend, plus a special dividend. In les

sthanonemonththe200

shares I purchased paid out 2.6 percent or $98.50 from my $3,815.95 initial investment. On a

annual basis that’s

more than a

50 percent return, even taking into account t he $12 trading fee.

What’s even better is that REITs issue d

ividends four times per year, not just once. The final

icing on the cake is that the stock price has gone up a bout $1 per share, so that’s an extra $200

or 5 percent.

Discounted mortgages/notes

Another little known investing option is to invest in mort

gages or notes. As y ou will see in

Chapter 5, it is possible to m ake creative financing arrangements in part by using promissory

notes. A promissory note is essentially an IOU or a loan. It has an amount, interest rate and

length of term.

Anotecanbe

purchased fr om a homeowner or other investor by simply discounting the note to

present value and purchasing the note. This is possible because there is a time value

associated with money. In other words, $1,000 is more valuable today than it is in 20 years

That only makes sense, right? In 20 years, $1,000 won’t buy as much stuff due to inflation.

The opposite is also true. For example, let’s say Betty has a $15,000 note with an interest rate

of 9 percent. It is amortized over 10 years. Plugging these nu

mbers into my handy calculator,

the present value of the note is $6,119.06. Therefore, you could explain to Betty that she can

either wait or have her money now. Betty, who is elderly and wants nothing more than to go on

acruise,mayacceptyouroffer.Me

anwhile, you have a wonderful, low

risk investment that

yields 9 percent interest and is secured by real estate. You can even use the purchased note to

buy other real estate. Of course, you’ll use the f ull value of the note, or $15,000.

If, however, you a

re feeling a little m ore adventurous and would rather see a physical product

than a piece of paper, you are re ady for hands

on real estate investing. There are essentially

three types of property to co nsider: land, commercial p ro perty and residential real

estate.

Land

Have you ever caught yourself saying something like, “I should have bought some land t here

years ago?” This usually happens after you see a new strip mall or housing addition being built

on virgin land. Well, it’s t rue that they’re not makin

ganymoreofit,landthatis,butbecarefulif

you are thinking about investing in land, especially if you are planning on paying retail prices.

Why? Even if you are good at predictions, you may have to wait 20 to 30 years for land to

appreciate to a l

evel that makes it worth your while. In the meantime, you will be paying taxes,

Rogue Real Estate Investor

assessments and m aintenance fees. You also can’t depreciate land; therefore, you might miss

out on some lucrative tax advantages.

According to Carleton Sheets (1994), the aver

age annual cost of owning vacant land runs

between 15 and 20 percent of what you paid for it. Using a common investing trick called the

Rule of 76, your l and would need to doubl e in value every four to five years t o m ake it

worthwhile investment.

Now ha

ving said that, purchasing land at sharp discounts, such as those found in foreclosure

tax sales or some international locations,

can be highly profitable. Imagine paying approximately

10 to 20 percent of the market value of residential lots or acreage.

Idon’tneedtoimagine.

Commercial property

Commercial property is what I would consider speculative real estate investing. The gains can

be substantial and the risks are not for the faint of heart.

Why?

Commercial real estate is tied closely to the

business environment. Consider the recent Internet

bubble that essentially ended at the turn of the century. At the peak of absurdity, business r ents

skyrocketed and property owners were smiling all the way to the bank. Now, vacancies have

soared again wit

hmanycompaniesgoingoutofbusiness.Manycommercialpropertyowners

are scrambling to find business tenants.

Commercial properties come in all sizes and shapes

;

and if there’s one nice thing about owning

commercial real estate it’s the lease terms, wh

ich are usually a minimum of three to five years.

Commercial property leases also require much more of the tenant, such as maintenance and

repairs.

ith the rece

nt downturn in the economy, it’

salsoagoodtimetopickupcommercialproperty

for very attr

active terms. If you are looking for business space, now is also a great time to

negotiate inexpensive leases with good terms.

If you are considering commercial property, be sure to do your homework. Read Chapter 10 on

managing environmental risk.

Reside

ntial real estate

The real “bread and butter” for most real estate investors, including m yself, is residential

property. Residential properties include single

family homes, duplexes, x

plexes (x = any

number) and apartments.

This is the “bread and butte

r” of investing because we all need to live s omewhere, regardless of

where we work or whether we are in school. Young, old, poor and wealthy all live in some

dwelling that either they or someone else owns.

First, let’s distinguish what I consider the tw

oprimarytypesofresidentialrealestate

investments. The first type of property is a growth property, or a property tha t appreciates in

value either due to its wonderful location or your sweat equity or both. The second type of

property is an income pro

perty. An income property may or may not be located in a good

location, but the rents provide you with positive cash flow income, similar to a stock dividend.

Rogue Real Estate Investor

Again, r ealize that you d on’t just sit back and watch the m oney f low in. You have to work for i t

occasionally.

You will encounter both types of property. Just like other types of investing, it is a good idea to

diversify and own both income and growth properties.

Now, on with the search.

But first, here are the answers to the questions presented ea

rlier in this chapter:

Although very similar, real property actually contains a bundle of ri ghts in addition to the

real estate. Rights may include mineral, water, air or a number of other things.

Adeedisalegaldocumentusedtotransferrealestate.A

mortgage is a promise to pay

aloansecuredbythedeed.

Equity.

For Sale By Owner.

The Multiple Listing Service.

Competitive Market Analysis uses comparable properties to estimate the value of real

estate. It is usually used for single

family homes.

Rep

lacement Cost or Income Method.

Aceilingfanispersonalpropertyuntilitisattachedtotheproperty,atwhichtimeit

becomes r eal property.

Contract.

10.

Buyer’s agent.

11.

Broker.

12.

Subordination.

13.

General warranty deed.

14.

Quitclaim deed.

15.

True. They can place a m

echanic’s lien on a property.

16.

Private mortgage insurance.

17.

Principal, Interest, Taxes and Insurance.

18.

Adjustable rate mortgage.

Rogue Real Estate Investor

THREE

The Search Begins:

Looking for and Evaluating Real Estate

“The business that we love we rise betime,

and g

otoitwithdelight.”

–

Shakespeare

Iconsidersearchingforattractiverealestateasfun

and you should

as well

.It’salmostagame

or perhaps a puzzle. Every week new li stings can be found in the classified section of your local

newspaper and in the

Multiple Listing Service (MLS). With the proliferation of the Internet, many

of these same listings are available online. With all of these options, you may be asking, “

here

should I start?”

Search M ethods

Online real estate w

ebsites

The Internet cont

ains an almost inexhaustible supply of information, and real estate is one

industry that is perfectly suited for profiling listings online. After all, the MLS is really just a

database of information. T his same type of information can be easily presented o

ndynamically

generated websites, which can m ake

your search

for real estate even easier.

If you are not familiar with using a search engine or directory, open up your computer’s browser,

which might be Internet Explorer or Netscape Navigator or AOL’s own

unique browser. Type in

the Web address of one of the maj or search engines or directories. He re are a fe w:

http://www.google.com

http://www.yahoo.com

http://www.msn.com

http://www.aol.com

http://www.ask.com

http://www.alltheweb.com

http://ww

w.altavista.com

http://dmoz.org

There are many others, but start with these. Once you are on the site, use the site directory

structure or look for a search box. Type in your request and be as specific as possible. F or

example, don’t expect much out of the term “ real estate.” Try a more specific term like “bank

foreclosures in Missouri.”

Rogue Real Estate Investor

In the meantime, here are a few of my favorite free, online resources for real estate investing:

http://www.hud.gov

–

U.S. Department of Housing and Urban Development

http://www.ginniemae.gov

–

Government National Mortgage Association

http://www.freddiemac.com

–

ederal Home Loan Mortgage Corporation

http://www.fanniemae.com

–

Federal National Mortgage Association

http://www.narei.com

–

National Association of Real Estate Investors

http://www.realtor.com

http://www.realtor.org

–

National Association

of Realtors

http://www.nareit.com

–

National Association of Real E

state Investment Trusts

http://www.buyo wner.com

–

for sale by owner

properties

http://www.forsalebyowner.com

–

for sale by owner properties

http://www.realestatebook.com

–

real estate

listings in all states (also

available

requesting their

free real estate books)

http://www.foreclosurefreesearch.com

http://www.foreclosure.com

–

foreclosure

search engine (fee required).

Newspaper classifieds

The Sunday classified section is still

agreat

place to find real estate. Read through the

classified advertisements once or twice an

dcirclepotentiallistings.Lookforkeyphrases

such

Owner anxious

Possible owner/seller f inancing

Lease option

Investment property

or investors

Needs TLC

Fix up and save

Needs update, carpet and paint

Investors

Good investment

Duplex, triplex, 4

ex, apartment.

Of course, realtors know all of these phrases too, so be a little cautious. For hands

on investing,

you are looking for income properties that will produce positive cash flow and that are in an

acceptable location. For growth properties, yo

uarelookingforpropertiesthatareundervalued

and that, with a little painting,

new

shrubbery and cleaning, could be resold for a profit or rented

for a positive cash flow. Growth properties should be located in an area that is appreciating.

The

ing Real Est ate Phone

Screening Guide

can

be used to hel

pwithyourclassified

searches:

Real Estate Phone

Screening Guide

__________________

(Section in Classifieds)

Tape or glue classified

advertisement information

here, if available.

____________

________

Price

Date:

_________

_Time:

_________

_LeftMessage:Y

Property Name/Address: _

______________________________

Directions:

__________________________________________

___________________________________________________

________________

___________________________________

Rogue Real Estate Investor

Owner’s Name:

________________

_Owner’s P hone Number:

__________________

Real E state Agent’s Name:

_____________________

Company:

_______________

Agent’s Phone Number(s):

__________________________________________

_____

Property Description:

___________________________________________________

_______________________________________________________________

Roof (type, how old?, does it leak?):

_______

___________________________

Basement/Structural (any water leakage/damage?):

______________________

Plumbing (type

water lines, sewer line problems

___

______

___________

HVAC (ty pe and age of furnace and air conditioner):

_____________________

Termi

tes:

_______________________________________________________

Income/Gross Rents: ___________________________________________________

Mortgage (1st) Type (e.g., FHA, VA, conventional, assumable): __________________

Balance/Amount Owed: __________________

__________________________

Other Mortgages/Liens/Judgments on Property (explain): _______________________

____________________________________________________________________

Seller’s Equity: ________________________________________________________

xpenses (note if monthly or annual)

Taxes: _________ Insurance: ________ W ater: ________ Sewer: __________

Electric: _________ Gas: ________ Heating Oil: ________ Propane: ________

City Fees: ______

___ H omes Association: ________ Garbage: __

__________

Other: __________________________________________________________

Is the Owner W illing to Help with Financing? _________________________________

Why is the Owner Selling? _______________________________________________

Other

nformation: __

____________________________________________________

______________________________

____

__________________________

____

______________________________________

_________________________

_____

Note

: Refer to the data CD that accompanies this book fo

r a copy of the Real Estate Phone

Screening Guide that you can print and use.

Get a real estate agent working for you

How would you like to call up a professional, like an attorney, and tell him to start working for

you

;

and if you like what he

does

,you

’ll have the person on the other sid

eofthetablepayhis

services?

Sounds great,

right

?Well,youcando

this

with real estate agents.

Find one or more motivated real estate agents and get them working for you. First of all, they

can do searches on th

eMLSdatabaseand,givencertaincriteria,comeupwithalistof

properties that match what you are looking for. You can even request that they help you

evaluate a property’ s value, but be sure to do your own valuation and understand the process.

Rogue Real Estate Investor

Of cour

se, the downside here is that once you locate a property, they will be involved in the

process and will be paid a commission. This could limit certain

types of

creative financing, but it

could also speed up the paperwork. In addition, they can help with sh

owing up for appraisals

and inspections if you are too busy.

Run y our own classified advertisement

Classified advertising may not be your first choice, but as you grow in the world of real estate

investing, you might try it and see what kind of r esponse

you get. Of course, the downside here

is that classified advertisements (a ds) are not free. T h e other problem is that it m ight take two or

three ads before you have it pulling the potential sellers that you want.

Here is an example for pulling one type of

seller:

I buy all types of houses,

ny condition considered.

Call Mike at 555

1212.

Here is a different approach:

Serious real estate investor

has cash

Looking for single

family homes.

555

1212.

Remember, access to cash can be through a partner,

equity in your house or a good

relationship with a bank.

Visit your county courthouse

Depending on where you live, y

our county courthouse may be a treasure

trove

of foreclosed

properties, upcoming auctions or tax lie

nproperties

.Makeaphonecallort

wo and at least plan

on visiting the courthouse, if for no other reason than your own education.

Call banks, savings and loans, and mortgage companies

Banks and lenders are more than happy to send you their list of foreclosed properties,

sometimes called

REOs (r eal estate owned)

or nonperforming assets

recently called

community bank loan officer and he immediately sent me an E xcel file showing a list of 13

properties ranging from a $10,000 bungalow to a $2,210,000 apartment complex and everything

between.

Treat these properties like any other except that you may be able to negotiate better financing

terms directly with the loan officer, who would love nothing more than to get the property off of

his balance sheet.

Financial Analysis

Okay, y

ou ha

ve found a bunch of potential properties. Before spending your valuable time

driving all over looking at

them

,youshouldperformapreliminaryfinancialanalysisusingthe

following income pr operty screener

as a guide

.Inotherwords,makesurethatthen

umbers

work out and you can make some money.

Rogue Real Estate Investor

Income Property Screener

Monthly Income/Expenses

Amount

Gross Rents

Other Property Income

Subtotal (1+2)

1st Mortgage Principal an d Interest (PI)

2nd Mortgage PI/Seller Financing

Other Mortgage/Financing PI

Subtotal (4+5+6)

Taxes (ask the property owner/agent)

Insurance (call your own ins urance agent)

10.

Water

11.

Gas

12.

Electricity

13.

Heating Oil/Propane

14.

Garbage

15.

Homes Association

16.

Cit

y Fees

17.

*Property Management (7 to 10% of income)

18.

**Repairs (actual amount or assume 5 to 10%)

19.

Supplies (actual amount or assume 1%)

20.

Miscellaneous (actual amount or assume 1%)

21.

Subtotal (8+9+10+11+12+13+14+15+16+17+18+19+20)

OTAL (3

21)

*Optional if you plan on managing the property. Percentages are based upon gross monthly income.

**Assume 5% if you plan on doing most of the repairs and up to 10% if you will hire out.

Using the Income P roperty Screener, let’s take a look

at a property that I recently evaluated. It is

plex located in a suburb of Kansas City.

Monthly Income/Expenses

Amount

Gross Rents (with all units rented)

$3,525.00

Other Property Income

$0.00

Subtotal (1+2)

3,525

.00

1st Mortgage Principal an d Interest (PI)

$1,076.12

2nd Mortgage PI/Seller Financing

$308.48

Other Mortgage/Financing PI

$0.00

Subtotal (4+5+6)

$1,384.60

Taxes (ask the property owner/agent)

$185.00

Insurance (call your own ins urance

agent)

$140.00

10.

Water

$150.00

11.

Gas

$300.00

12.

Electricity

$175.00

13.

Heating Oil/Propane

$0.00

14.

Garbage

$50.00

15.

Homes Association

$0.00

16.

City Fees

$0.00

17.

Property Management ( for now, I will manage it)

$0.00

18.

Repairs (

assum

10%)

$353.00

19.

Supplies (assume 1%)

$35.00

20.

Miscellaneous (assume 1%)

$35.00

21.

Subtotal (8+9+10+11+12+13+14+15+16+17+18+19+20)

$1,423.00

TOTAL (3

21)

$717.40

Rogue Real Estate Investor

As you can see, I am anticipating a positive cash flow of $717.40

amonth

,evenaf

ter including

repairs, supplies and all associated fees. T he numbers look good enough for me to set up a

meeting to view the property and discuss it with the current owner i n m ore detail. If I were to hire

apropertymanagementcompany,thecashflowwould

drop to $364.00, which is not quite as

enticing, but worthy of consideration.

Now, since this unit is an income producing property with over f our units, it is possible to

calculate a

property

value based upon the income (this will be discussed in greater

detail in

Chapter 4). Using the Cap Rate method and knowing the annual net operating income (NOI)

and assuming a high cap rate of 14 percent, the value of the property equals the NOI divided by

the cap rate:

Value of Property = NOI / Cap Rate

Value of P

roperty = $25,224 / .14 = $180,171

Since t he property is priced at $160,000, that’s a potential $20,000 in equity. To be fair, the

property co

uld use some sprucing up, so I’m

assuming that the price is in the correct ballpark.

For growth properties, a sl

ightly different tactic is tak en. One method is to buy and h old, while

the other is to buy low and sell high. Gee

that sounds a lot like stock investing. Anyway, the

difference here is that you have to learn t o look past an ugly exterior or blemishes and

find

properties that require simple fixes to improve the

value.

One thing to consider that I feel is missing in most real estate books and programs i s what

happens in between purchasing a property, fixing it up, listing it and eventually selling it. Wel

l, I

can tell you one t hing that happens is that the mortgage loan has t o be paid. It is possible,

though unlikel

y, that you could do all of the above

in a matter of 30 to 45 days and not have to

make a mortgage payment.

Here is what I recommend. Even if

you are planning on selling the property as soon as possible,

rent it out for a year or two or set up a lease option with a potential buyer. T he idea is to limit

your expenses and fix up the property. Ironically, many renters will help fix up a property f

or you

and the capital gains taxes are much more favorable for long

term investments (investments

held more than a year).

The Drive By

For the drive by, make sure you know where you are going. Each city has detailed maps that I

recommend you purchase an

dtakewithyou.AnothergreatalternativeistovisitMapQuestat

http://www.mapquest.com

and type in the property’s address

–

you’ll be given a detailed map.

The drive by is more for getting the feel of the locat

ion and neighborhood than it is to fully

evaluate a property. After all, you will only be able to stop and look at the outside. If it is vacant,

you can usually peek inside.

Look at the exterior of the property, the drainage, the roof, the yard, t he buil

ding’s integrity and

try to notice any expensive pro blems.

Now, scrutinize the location, including the neighbors and surrounding community. Know what

you are getting into before proceeding.

Rogue Real Estate Investor

After visiting a property, new questions will arise

.Writedownallofyourquestionsandcallthe

owner or real estate agent and say that you are still interested in the property and even drove by

it the other day. Say that you have a few more questions and ask away.

If you feel comfortable with the resp

onse, set up a time to look inside the place.

ite Visit

Come prepared with a property evaluation sheet

for the on

site visit

Propert y Evaluation Sheet

Property Name/Type/Address: _________________________________________

Date/Time: _________

____ Shown B

y: ______________ Phone No.: ___________

General Description: _______________________________________________

_____

_____________________________________________________________________

Unit Number __ of __ (Use a separate sheet for each unit

,ifmorethanone.)

Tenant’s Name: _____________________________________________________

Lease Am ount and Terms: ______________________________________________

Security Deposit: ______________________ Pet Deposit: ______________________

Rental Hi

story: _________________________________________________________

Other Comments (include owner fi nancing details; let

the owner/agent talk): ________

_____________________________________

________________________________

Room/Area/Item

Descripti on

Poten

tial Cost

Front Room

Kitchen

Living Room

Family Room

Bedroom (1)

Bedroom (2)

Bedroom (3)

Bedroom (4)

Bathroom (1)

Bathroom (2)

Bathroom (3)

Garage

Basement/Cellar

Attic

HVAC

Electrical

Plumbing/Pipes

Roof

Exterior/Paint

Porch/Patio/Deck

Note

: Refer to the data CD that accompanies this book for a copy of the

Property Evaluation Sheet

that you can print and use.

Use the property evaluation sheet as a guide for going through a property and estimatin

gthe

cost of repairs and what the owner is willing to fix or negotiate. B e sure to use a separate sheet

for each unit if you are evaluating a mu lti

unit property.

Rogue Real Estate Investor

Let’s look at a couple of examples: income property investing and growth property investing.

Income property investing example

IamgoingtowalkthroughabrieffinancialanalysisofahomemywifeandIboughtinJanuary

1996 and sold in September 1998. The property was located in Belton, Missouri, a suburb of

Kansas City. The property is a

three

bedroom, two

car garage, split

level home. It is what I

consider a "bread and butter" home. However, it i s located i n a marginal, though not bad,

location. We purchased the house as a closed bid with the Missouri

Department of Veterans

Affairs

.Thep

urchase price was $68,900 and the down payment and fees were only $1,403.

Net Cash Flow

We were able to rent t

he property for $725 per month

during the rental period, with the

exception of the last m onth. We received a total of $21,750 during the rental

period, or

approximately $713 per month. During the same period, our expenses (taxes, insurance,

interest, repairs, supplies, etc.) totaled $15,983, or approximately $524 per month. T herefore,

our net cash flow per m onth was roughly $189 per month for a to

tal of $5,767.

Appreciation

After fixing up the property

and renting it for over two years, our tenants could no longer pay and

we parted ways. Enlisting the services of a local real estate agent, we were able to sell the

property in less than 30 days. T

he gross sales price was $80,000.

If we stop here, like some

books would have you do, you would think that we made a fortune on our initial investment of

$1,403.

But let’s throw in reality. First, I had to pay the real estate agent fee, m echanical fix

costs,

taxes, and other fees.

Our actual sales price was $73,

210 and our cash at closing was $6,790.

Still, that’s not bad. The true appreciation on the house was $4,310 ($73,210 minus

68,900).

Equity

As we diligently paid the mortgage each month, a sma

ll fraction went directly to paying off the

principal. Remember, our sales price was $68,900 minus the down payment of $700. Our 30

year loan was for $68,200. At closing, the actual payoff of the mortgage was $67,103.

Therefore, our equity was $1,097.

Tax

The rental tax game is quite interesting. W e bought a good "bread and butter" income house

fully knowing th

at it would appreciate in value;

yet at the end of each year

the

IRS allowed us t o

depreciate it over a specified period of time (27.5 years) us

ing a

particular m ethod that they

have approved (modified accelerated cost recovery [MACRs]). Wow, what is the catch here?

For one thing, land is not a depreciable item, so only the value of the house can be depreciated.

Of course, you are free to come up

with a value of the land versus the property.

Any improvements, fixtures, appliances, and certain other items can be depreciated. The other

catch is that when you sell the property, t he government would like its t emporary loan back. In

other words, you ar

etaxedonthedepreciatedpropertyatyourtaxrate.Duringtherentalperiod

we depreciated a total of $5,801 in property, appliances,

etc. Certain depreciable items,

such as

eelectricrangethatwebought,

were sold as part of the house and therefore

the remaining

value was reduced to zero

so that these items represented a small tax loss.

Rogue Real Estate Investor

The long

term capital gains tax was 20 p ercent

(it is now 15 percent

)

and ordinary gains are

taxed at my personal tax rate. After running the numbers through my tax

program, the entire

sale resulted i n a tax burden of $1,768. If we consider the deferred taxes saved over the 30.5

month period ($5,801) and multiply by m y tax rate (28 percent), the result is a tax savings of

$1,624 over the period of owning the property

.Finally,becauseIpaidback$1,768,Inearly

broke even, but lost $144.

My advice here is to not rely on tax advantages when evaluating a property. However, once you

purchase a property keep all your receipts, monitor your mileage and try to be as tax

efficient as

possible. Be prepared for April 15th when you sell a rental property.

Labor, Pain and Suffering

The late night programs and books inadvertently, or should I say purposely, forget to tell you

about the phone calls on Sunday afternoon complain

ing about stopped up plumbing or an air

conditioner that just went out. The books and programs also fail to m ention the late payments,

bounced checks, or tenants who purposely lie. The books and programs never talk about t he

city governments who are now tr

ying to implement fees from landlords. The books and

programs also don’t mention that my labor is free and not tax deductible.

There is really no way to quantify a number in this category. I’m not including, for example, the

extra Rolaids and fast food wh

en working on the properties. I am i ncluding labor. Your time and

my time are worth something. After all, time is really more precious than money.

To quantify this, I am placing a small value of $10 per hour on my time. I estimate that during

the fix

up,

management, and selling (fix

up again), my wife and I spent roughly 250 man/

woman

hours on the property. Therefore, we lost a potential $2,420.

Summary

Cash flow + Appreciation + Equity +/

Tax benefits

–

Your labor, pain, and suffering. For our

house t

he equation results in $5,767 + $4,310 + $1,097

–

$144

–

$2,420 = $8,610. So, with our

initial investment of $1,403, we realized a profit of $8,610 over a period of

two and one half

years. Not bad

–

that’s well over a 200 percent increase per year on our i

nitial investment.

Growth property investing example

Imentionedthebuyandholdstrategy.IstillownarentalhousethatIboughtin1994.The

property is a “bread and butter” single

family house located in a great neighborhood with

excellent schools

in Roeland Park, Kansas, a suburb of K a nsas City, Mi ssouri. Without

analyzing this property in depth, I bought the property for $59,110, with only $1,352.97 down.

Although I have been tempted to sell the property, it continues to provide me positive ca

sh flow

of nearly $150 per month. The cash flow is secondary to the appreciation and current value.

Based upon comparables in the near vicinity, I have determined that th

epropertyisworth

roughly $110

,000. Wit

hacurrentpayoffamountof

approxim ately

8,000

,Ihaveabout

62,000

in equity.

As you can see, the buy and hold strategy works quite well when a property is purchased i n a

good location.

Rogue Real Estate Investor

FOUR

Estimating the Value of Real Property

“Tell m e and I’ll forget. Show me, and I may not r

emember.

Involve me, and I’ll understand.”

–

Native American saying

As I have alluded to earlier, there are three methods of estimating the value of real property:

replacement cost, income method, and competitive market analysis (CMA). These are

discusse

dbelow.

Replacement Cost

Replacement cost makes use of the cost of real estate on a per square foot basis to estimate

the value of real property. Es sentially, the cost to build the property, including purchasing t he

land. Area builders, contractors an

darchitectscanbehelpfulwiththistypeofestimating.

For example, a rough estimate for replacement cost

in the Kansas City area

$100

per square

foot. That would mean a 2,0 00 square fo ot house coul d be built for appr oximately

$200,000

The cost of

the land would be added to that

making the purchase in the neighborh

ood of

$23

0,000

,assuminga$30,000lot

.Ofcoursetherearecertainlyareaswherethecostwouldbe

much more, probably in the $1

0persquarefootrange

;

and there are also areas where

inexpensive houses are

constructed for as little as $8

0persquarefoot.

Also, the price of land

has continued to escalate. I have seen lots ranging from $10,000 to over $200,000.

Income Method

Asecondmethodofevaluatingrealestateisbaseduponits

ability to generate income, using

the equation below. The income method is best used for multi

family dwellings, such as

apartments.

Gross Rent Multiplier

(GRM)

=SellingPrice/GrossMonthlyRents

Capitalization rate is the rate that other investors

would be willing to pay for a similar property.

Cap Rate = Net Operating Income / Value of Property

Value of Property = NOI / Cap Rate

Cap rates vary from location to location and property to property. I n general, a low cap rate

ranges from 4 t o 9, whil

eahighcapratevariesfrom11to18.Lowcapratesarecommon

Rogue Real Estate Investor

among properties of higher estimated value. High cap rates are common among higher risk

properties with lower estimated values.

Competitive Market Analysis

Competitive market analysi s

(CMA

)

seeks to understand the marketplace and use that

knowledge to estimate a value. CMA is most often used for evaluating land, single

family

homes, duplexes, triplexes, and 4

plexes. The CMA process works by finding similar properties

or comparables near th

epropertyinquestion.Itisalsopossiblewithsomecautiontouse

properties that are currently listed, but have not sold. It is best to use at least three

comparables. Here is an example:

Competitive Market Analysis

For:

Jack and Tracy Smith

Prepared

by:

Michael Williams

Property:

Single

family home

Date:

July 27, 1998

Address

Subject

Property

Comparable 1

7601 Maple

Comparable 2

7249 Oak

Comparable 3

7713 Oak

Area (square ft.

)

2135

2200

2100

2300

Living Room

Yes

Dining Room

Yes

Kitchen

Yes

Family Room

Yes

Bedrooms

Baths

2.5

Basement

Yes

Garage/Carport

car attached

car attac hed

Construct io n

Ranch

Split

Lot Size

85’ x

105’

80’ x 115’

90’ x 100’

92’ x 105’

Age

(years)

5.5

4.5

Terms of Sale

10% down

20% down

Days on Market

Date of Sale

11/05/97

05/30/98

06/15/98

Listed Price

$92,500

$98,500

$102,000

Selling Price

$91,000

$97,500

$100,000

Remarks:

Area Market Conditions: Good

Estimated Range of Value: $91,000 to $100,000

Estimated Value of Subject Property: $97,000

Note

: Be sure t o check with the county appra iser either by phone or online to see what t he

county estimates the property i

s worth. This is a quick estimate t ha t can be accurate in some

locations and “completely out of whack” in other locations. A great resource to find county

websites, including the appraisal office, is

http://www.naco.org

Rogue Real Estate Investor

FIVE

Creative Financing: Putting the Deal Together

“A wise man hears one word and understands two.”

–

Jewish proverb

Well, let’s see. You’ve located a potential property. You conducted a drive by and probably even

met with a real estate

agent or owner to see the property and discuss any issues that you might

have. You’re convinced that it’s a property to make an offer on. Now what?

It’s time to put your “thinking cap” on a nd come up with some creative financing. Let me say first

that th

ere is no right or wrong in creative financing. I’ve read many books on the subject and I’ve

tried/used several of the m e thods. Th e short answer is

:use

whatever works best for you.

In this chapter

,I’llgothroughsomecommonfinancingtechniquesandmet

hods of securing the

deal. First, let’s review standard financing so you know the difference.

Standard Financing

For those of you who have never purchased property, I’ll go through the most common process.

Generally, you will contact a m ortgage company a

nd tell them who you are and what you are

interested in buying. The mortgage company can quote you interest r ates and other details,

such as points,

adjustable

rate m ortgages (A

RMs

)

,fixedrates,etc.Asahomebuyer,youcan

often choose between three mort

gage programs: (1) conventional loans, (2)

Federal Housing

Administration (

FHA

)

loans or (3)

Veterans Affairs (

)

loans.

Conventional loans are the m ost common t ype. Conventional loans usually require 20 percent

down or a loan to value (LTV) ratio of 80

percent. In other words, the bank will loan you 80

percent of the property’s appraised value. Since many people cannot afford 20 percent down, it

is possible to finance 90 percent or more using private mortgage insurance (PMI). PMI protects

the lender in c

ase you default. Of course, you have to pay a monthly premium for this privilege.

The recent mortgage debacle occurred in part because banks loosened their policies and

started allowi ng 100 percent financing (e.g., 80

percent loan on a 1

mortgage/20 pe

rcent loan

on a 2

mortgage

), interest only loans and other creative loans; not to mention that credit

scores of potential buyers were relaxed. As of 2008, credit has tightened again and loans are

becoming more difficult to obtain.

FHA financing was desi

gned by the United States government to make homeowners out of all

U.S. citizens. The U.S. government backs FHA mortgages, so banks are completely safe i n

issuing these loans. FHA loans allow first time homebuyers to get in a property for as little as 3

rcent down. Due to the high LTV ratio, t hese loans also require insurance to protect the

Rogue Real Estate Investor

lender and the government. In this case, the insurance is called mortgage insurance premium.

FHA loans also have funding l imits that are based upon where you l ive.

ofindoutaboutthefundinglimitsinyourpartofthecountry,visit

https://entp.hud.gov/idapp/html/hicostlook.cfm

.Asan

example, using the mortgage calculator

for Johnson County, Kansas

the current FHA limit is $

271,050

for a single

family home.

Finally, VA financing is the ultimate no

money

down proposition for homebuyers. However,

there is one catch. You have to have served in the U.S. military. If you did serve in the military,

then b

yallmeansusethisprogram.

Creative Financing

Now that we have gone through standard financing, let’s look at creative financing. As I

mentioned, there are endless possibilities here. You will have to experiment and see what works

for you and what d

oesn’t. Your success may not only depend upon your financial situation, but

also on where you live, the type of properties that you are going after and especially the seller.

This section is only meant to introduce

you to

or remind you of some financing po

ssibilities.

For

more information on creative f inancing, be sure to refer to the following references:

How to Make Money with Real Estate Options

(Lucier, 2005)

The Complete Guide to Investing in Undervalued Properties

(Berges, 2005)

No Down Payment

(Shee

ts, 1994)

Nothing Down for t he 90s

(Allen, 1990)

Building Wealth

(Whitney, 1994).

Owner

financing

Owner financing works with motivated sellers who are willing to help fi nance their own property.

The

simplest

form of owner financing involves a seller who

owns a property fr ee and cl ear, but

is having trouble selling. You negotiate with the seller to act as a mortgage company and you

create a note, purchase money mortgage, or whatever you want to call it. F or this to work, you

must build credibility.

One

ethod of owner financing is to negotiate a second mortgage with the owner and obtain a

new first m ortgage from a lender.

This method is a little more difficult because the lender will not

be in favor of a second mortgage and it may be necessary to work thi

sarrangementoutsideof

the closing.

Wrap

around mortgage

Certain nonstandard lenders or the seller will accept a wrap

around m ortgage. A wrap

around

mortgage allows you to pay one mortgage to the seller or lender and the seller/lender continues

to pay

on the existing mortgage. Usually you will need to pay a higher interest rate for the

trouble.

For example, using the scenario above, I might offer the seller $5,000 down plus a wra

around

mortgage for $50,000. The seller

would continue to pay the unde

rlying mortgage

of $20,000.

The seller would then earn the difference between my wrap

around mortgage and her existing

mortgage. Of course, this will only work as long as the wrap covers her existing mortgage and

provides positive cash f low. In all likelih

ood the property will be sold within a few years.

Be aware that this may not work with mortgages that have a “due on sale” clause.

Rogue Real Estate Investor

Assume an existing loan

Certain

loans, such as owner

financed loans, VA loans and FHA loans, can be assumed.

Conventional

loans do not qualify for assumption because of a due

sale clause. Owner

financed loans are the easiest to assume because individuals are involved, not banks or

mortgage companies. VA and FHA loans can be assumed by qualif

ying with the mortgage

holder.

These are called qualified assumptions.

Non

qualified assumptions are no

longer

available.

Recently, many real estate investors have fi gured out a clever way around the “due on sale”

clause. The trick is referred to as “subject to” an existing m ortgage. T

omakethiswork,you

agree to make the existing mortgage payments, but the mortgage remains in the name of the

seller and it is still the seller’s obligation. In exchange, you may have the seller deed the

property to you using a quit claim deed. This meth

od is not without its fair share of controversy.

Some people say that the mortgage company should still be notified any time a deed is

exchanged.

Options

Options give you the right to purchase property at a later date for a predetermined amount. Real

est

ate options can be structured as pure options or lease options. A pure option is an

agreement between you and the seller. For a flat fee, let’s say 1 percent of the purchase price,

you agree to buy the property in X number of days (e.g., 30 or 60 days). Du

ring this period of

time you might fix the property or simply resell it to someone and pocket the difference. Closings

can even be set up to occur on the same day. Of course, the downside is if you can’t resell the

property, you could lose your option mone

Aleaseoptionallowsyoutoleaseapropertyforacertainamountoftime(e.g.,oneyear);atthe

end of the lease term you have first dibs at buying the property. If you set the price ahead of

time, you can use your own sweat equity to make improve

ments and sell the property ri ght

when you acquire it.

Dig deep in your own pockets

Many times it is necessary to come up with m oney the old

fashioned way

–

by digging deep in

your own pockets.

So how do you come up with money to close the deal? Here ar

esome

creative ways:

Partners

:Findapartnerandshareintheprofits.Haveyourpartnerprovidetheneeded

cash and you find the property, consummate the deal and manage

or sell the property.

Obviously

you will need to work out the deal with your partn

er. Be sure to sign an

agreement or contract and make it a professional arrangement. Also, be careful not to

ruin a relationship with a friend or family member through poor planning or risky

ventures.

Credit unions

:Creditunionsareagreatplacetoborr

ow m oney on easy terms. Many

large companies, agencies or ev en communities offer membership to credit unions.

Borrowing money from a credit union will likely require collateral, but in the case of a

company credit union you may be able t o borrow solely bas

ed upon your job. If asked

about the purpose of the loan, you can say i t will be used for a vacation, to pay off debt

or whatever you want to say.

Rogue Real Estate Investor

Signature loans

:Withgoodcreditcomesgoodterms.Banksandotherlendersgive

signature loans to clients

who have excellent credit and other accounts at the institution.

For example, I have a signature line of credit at TD Waterhouse, which is both a bank

and brokerage company.

Borrow against personal property

:Acar,boat,motorcycleorotherexpensivepers

onal

property can be used as collateral for l oans at banks, credit unions or even from sellers.

You can either offer equity to a seller in the form of a loan, which is secured by the

personal property

or you can borrow the money from a lender.

Home equit

yloans

:Asdiscussedearlier,homeequityloansareoneofthebestplaces

to start looking for money. Mortgage companies and banks easily grant home equity

loans. In fact, they love these loans. Some home equity lenders will even loan above the

appraised

value of your house. I have seen advertisements for loan

value home

equity lines of 125 percent. Be careful not t o extend yourself too far. Remember, home

equity lines are secured by your personal real estate and if you don’t pay them back, a

lien can

be placed on your property.

Hard money lenders

Also known as private money lenders, these lenders represent individuals with money to loan at

ahighinterestrate.Thegoingrateforhardmoneyisusuallyaround12percentto18percent

;

however, some l

enders will accept ownership equity in lieu of interest if they like your project.

If you have a large real estate project and a business plan, we may be able to help refer you to

aprivatemoneylender.Contactusbyemailat

privatemoney@rogueinvestor.com

Retirement accounts

One way to tap into existing money for a first

time home is to borrow against your 401(k)

retirement account. B e sure to check the c urrent rules where you work. Also, make s

ure to pay

yourself back as quickly as possible because while the account is leveraged, y ou will not be

earning interest on that portion. If you have recently quit a job with a retirement plan or if you

have money in an

Individual Retirement Account (

IRA

)

you may be able to roll over the account

into a self

directed real estate IRA (refer to Chapter

12). You can then use this money to

purchase real estate through your own IRA. This strategy works well if you don’t need to live off

of your investments, beca

use all profits and losses run through the IRA, not you.

Rogue Real Estate Investor

SIX

Presenting the Deal: The Art of Win

Win

“The Devil is in the

etails

”

–

anonymous

I’m sorry to say, but there comes a time when you have to do some good old

fashioned selling.

Believe me, I’m not a salesman. I’m a scientist by trade. I was the kid in college who was

jealous of the business majors, because I was stuck i n a l aboratory studying for finals on Friday

night.

Anyway, real estate is not about greed. It’s about making

adealthatbenefitstwodifferent

parties

and perhaps three if a lender is involved. Whenever possible

contact and deal with the

seller or homeowner in person. If a real estate agent is involved, request or demand that you be

present when the offer is

presented. If you can’t get access to the seller, you will have to sell the

proposal to the agent.

By now, you should have a good idea why the seller is selling. Open up by thanking the owner

or agent for allowing you to present the offer. Throw in a few

icebreakers if you feel the need.

Compliment the owner on the property and what he has done with it. Be honest and explain

what your goals are with the property.

Now, break out your written offer and go through it briefly with the seller. You may even wa

nt to

include more than one offer. Make sure that your offer has a time limit for a response. Allow the

seller enough time to evaluate your offer, but not too much time to shop it around. I would

recommend between one to three days. If special circumstance

sdictatelonger,youwillhaveto

be the judge. Essentially, you want to create some urgency. If you are looking at other

properties, you may want to casually mention that

in a nice manner

Thank the owner and/or agent and say you are looking forward to

working with them.

When in doubt, do not open your mouth any more than you have to. There is an old saying that

“the first person to talk loses.” In other words, if this real estate game is like poker, you do not

want to be the first to show your hand.

Rogue Real Estate Investor

SEVEN

How to Profit from Foreclosures

“Trouble is only opportunity in work clothes.”

–

Henry J. Kaiser

For any number of reasons, sometimes real estate owners encounter hard times and are forced

to relinquish real estate. W hen this happens, the

mortgage holder or lender is forced to take

back a property. With VA and FHA loans, the U.S. government is ultimately responsible for

purchasing the property back. With conventional loans, a mortgage company or lender is

responsible.

The U.S. government

and lenders want nothing to do with the properties and would like to resell

them as quickly as possible. After all, lenders are in the lending business

not

in the

real estate

investing

business

.That’swhereyoucomein.Youcanhelpthemwiththeirprobl

em and help

yourself in the process.

Lender REOs (Real Estate Owned)

Banks and other lenders are in the business of lending money, not owning property. However,

as hard as they try, a certain percentage of their loans will be delinquent. The process evol

ves

from a homeowner missing a payment or two, to the b ank filing a notice of default or lis pendens

at the courthouse, to a foreclosure sale.

In som

ecases,thelenderwillbeout

bid at an auction for the property, and that is good news for

the lender.

In many cases, the deed transfers t o the lender, who now seeks buyers through its

list of real estate owned prop

erty, sometimes referred to as

nonperforming assets.

Lender REOs can be found using the following sources:

The bank

–

call

and ask for their l

ist

of foreclosed or REO properties

Real estate agents

–

some

agents even s

pecialize in f oreclosures

Online f oreclosure list services

Fannie Mae

–

search for REOs, visit

http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp?p=Res

ources&s=Fannie+Mae+Owned+Property+Search

When evaluating these properties, be sure to do all of your due diligence

.Ifyouareinterestedin

aproperty,discountyourofferbaseduponestimatesforfixing

the property. Even though a

lender wants to recover its investment, it is sometimes willing to cut its losses if your offer is

Rogue Real Estate Investor

reasonable and it is the best the l

ender can hope f or. In essence, you are getting the lender to

accept what is referred to as a “short sale.” Short sales are also handled before foreclosure on

behalf of the seller.

U.S.

Veterans Affairs

(VA)

Foreclosures

When I first began investing in

real estate, I stumbled across VA properties

but

didn’t quite

understand how a non

vet

eran

could take advantage of

them

.Iwasamazedtofindthatnotonly

does the VA offer foreclosed r eal estate for sale to homeowners and investors, but in some

cases the

yofferattractivefinancingwithverylittledownatclosing.Ifyouarelookingforaway

to jump

start your real estate investing career, contact a real estate agent and ask about VA

foreclosures

,orvisitthe

online list of properties available in your

state.

VA properties are offered for sale to the public; however, you must contact a VA

registered real

estate broker or agent to view the homes. Just l ike any home, they will open t he house/property

for you to see. Should you decide that you are inter

ested in a property, you will need to meet the

real estate agent and prepare

approved loan r

equest and purchase offer paper

work.

In purchasing VA properties, the big trick is to quickly view the property and make a decision.

Oftentimes the VA will ha

ve a short bid time that you have to meet. This makes it nearly

impossible to have professionals help you look at plumbing, electrical, roofs and structural

elements. All VA homes are sold “as is,” so it is important t o be as knowledgeable as possible

abou

thowmuchitwillcosttofixupaproperty.Youalso

will

need to determine what the interest

is in the property. Usually a real estate agent can help you with this

or you can see how many

agents have come t hrough the property because they will sign a l

og indicating they showed it to

someone.

Furthermore, it is important to recognize that you may have to outbid several other qualified

bidders. The bidding process is generally a closed bid. You will instruct your real estate agent

on what your bid is and

you will need to include an earnest money deposit of at least $500. Your

agent will include her fee and submit the paperwork. The winning bid is the net amount from a

qualified bidder that results in the most money for the VA.

Why do I mention this? Beca

use it is possible to outbid someone, you might consider talking

your agent into dropping her fee slightly. The VA will pay up to 6 percent for real estate brokers.

Iusearealestatebrokerwhoisaone

man show specializing in government foreclosed

prop

erty. Since he is both a broker and

agent, he can reduce his fee and still make a

significant commission. In addition, if you are a real estate agent/broker, you can obviously

compete much better by doing the paperwork yourself.

The Department of Veter

ans Affairs has awarded the Property M anagement Services C ontract

for managing, mark eting, and selling VA

acquired properties throughout the United States and

its territories to Ocwen Financial Corporation. The VA began transitioning properties to Ocwen

ound December 8, 2003.

The following is contact information for Ocwen:

Ocwen Financial Corporation

1661 Worthington Road, Suite 100

West Palm Beach, Florida 33409

Toll free: (800) 523

9479

Email:

VAREOSales@oc

wen.com

Website:

http://www.ocwen.com

Rogue Real Estate Investor

view

VA property listings for your state, use this direct link to the Ocwen website and, using

the map of the United States on that page, click on your state of interest:

http://www.ocwen.com/reo/residential/res_reofindbystate.cfm?proptype=VA

As you should k now by now, I live in the Kansas City area, which includes two states: Misso

uri

and Kansas. I check both states. On the Missouri side, I noticed one property worthy of

finding

out more information

Example VA Property

The property is located at

11102 E

67th Street in K ansas City, Missouri and the details are as

follows

Listi

ng Price:

$55,400

Listing Agent:

Arline Walker

SQ. Footage:

1,157

Agent E

mail:

arlinewalker@yahoo. com

Bedrooms:

Phone #:

(816) 517

9690

Bathrooms:

Fax #:

(816) 796

0270

Type:

Single Family/Vendee Finan

cing

Simultaneous Offer Close:

Midnight 12:00 on 03/23/2008

Property #:

8000560584

Disclosures:

Zip Code:

64133

Get Map:

Rogue Real Estate Investor

There are a few thing

sofinterest

that you s hould no tice. First, you must work with the realtor

indicated in

the listing

.Next

,thepropertyisofferedwithvendeef

inancing, which means you can

get financing backed by the VA at an attractive interest rate. As of April 1, 2008

,therateis6

percent

Finally, be sure to notice the codes or disclosures. These co

des will t ell you if the property has

major issues that you will want t o consider before bidding. For example, the property has the

following codes:

p, s, t, l and o. An explanation of these

codes

shown

in the following table.

Certainly

Iwouldstartby

asking the listing agent how bad the foundation is, what sort of pest

problems

exist

,etc.

VA Codes

Disclosures Index

Code

Descripti on

Title

Under Review

Property Condemned/Demolition

Environmental

Flood Zone

Home Owners Association

Possible

Lead Based Paint Problem

Possible Mold

Non

Conform ing Use

Possible Structure/Foundation Problems

Possible Pest Problem

Seller's Disclosure

Rogue Real Estate Investor

Code

Descripti on

Possible Termite Issues

Urea Formaldehyde Foam Insulation (UF FI)

Possible Water Damage

No Yard

Zero Lot Line

Possible Air Conditioning Problems

Possible Electrical Problems

Possible Heater Problems

No Parking on Property

Possible Plumbing Problems

Possible Roof Damage

Shared Access Easement

Swimming Pool

Septic Tank

Uninhabitable

Well Water

U.S.

Housing and Urban Development (HUD) Homes

Most HUD homes are initially offered on a priority basis to owner

occupant purchasers (people

who are buying the home as their primary residence). Following the priority period,

unsold

properties are t hen available t o all buyers, including investors.

To find properties, u

se the links

in the table b elow for most major cities and U.S. territories. Select cities near where you live or

that you are interested in. The HUD database wil

lprovideyouwith

information on

the address,

type of property, list price, as

is value, listing date, deadline for

submitting a bid, and whether

the property

is available to owner

occupants only or all purchasers (including investors). You will

also find

important notes, such as structural damage, fl ood zone, settlement, smoke damage,

missing electric meter and a host of other things. Finally, be sure to observe the codes, such as

LBP, which stands f or lead

based paint. The notes and codes are required by

disclosure laws

and should be looked into, but shouldn’t necessarily scare you off. For instance, any house built

before 1978 probably contains lead

based paint.

For more information, refer to HUD’s investor friendly web page at

http://www.hud.gov/groups/investors.cfm

HUD Homes by State

(

http://www.hud.

gov

)

State

Phone Number

Website

Alabama

(205) 731

2617

http://www.hud.gov/local/index.cfm?state=al

Alaska

(907) 677

9800

http://www.hud.gov/local/index.cfm?state=ak

Arizona

–

Phoenix

Arizona

–

Tucson

(602) 379

7100

(520) 670

6000

http://www.hud.gov/local/index.cfm?state=az

Rogue Real Estate Investor

State

Phone Number

Website

California

–

Fresno

California

–

Los Angeles

California

–

Sacramento

California

–

San Diego

California

–

San

Francisco

California

–

Santa Ana

(559) 487

5033

(

213) 894

8000

(916) 498

5220

(619) 557

5305

(415) 489

6400

(714) 796

5577

http://www.hud.gov/local/index.cfm?state=ca

Colorado

(303) 672

5440

http://www.hud.gov/local/index.cfm?state=co

Connecticut

(860) 240

4800

http://www.hud.gov/local/index.cfm?state=ct

Delaware

(302) 573

6300

http://www.hud.gov/local/index.cfm?state=de

District of Columbia

(202) 275

9200

http://www.hud.gov/local/index.cfm?state=dc

Florida

–

Jacksonville

Florida

–

Miami

Florida

–

Orlando

Florida

–

Tampa

(904) 232

2627

(305) 536

4456

(407) 648

6441

(813) 228

2026

http://www.hud.gov/local/index.cfm?state=fl

Georgia

(404) 331

5001

http://www.hud.gov/local/index.cfm?state=ga

Guam

(671) 472

7251

http://www.hud.gov/local/index.cfm?state=hi

Hawaii

(808) 522

8175

http://www.hud.gov/local/index.cfm?state=hi

Idaho

(208) 334

1990

http://www.hud.gov/local/index.cfm?state=id

Illinois

–

Chicago

Illinois

–

Springfield

(312) 353

5680

(217)

492

4120

http://www.hud.gov/local/index.cfm?state=il

Indiana

(317) 226

6303

http://www.hud.gov/local/index.cfm?state=in

Iowa

(515

) 28 4

4512

http://www.hud.gov/local/index.cfm?state=ia

Kansas

(913) 551

5644

http://www.hud.gov/local/index.cfm?state=ks

Kentucky

(502) 582

5251

http://www.hud.gov/local/index.cfm?state=ky

Louisiana

–

New Orleans

Louisiana

–

Shreveport

(504) 589

7201

(318) 676

3385

http://www.hud.gov/local/index.cfm?state=la

Maine

(207) 945

0467

http://www.hud.gov/local/index.cfm?state=me

Maryland

(410) 962

2520

http://www.hud.gov/local/index.cfm?state=md

Massachusetts

(617) 994

8200

http://www.hud.gov/local/index.cfm?state=ma

Michigan

–

Detroit

Michigan

–

Grand Rapids

Michigan

–

Flint

(313) 2

7900

(616) 456

2100

(810) 766

5112

http://www.hud.gov/local/index.cfm?state=mi

Minnesota

(612) 370

3000

http://www.hud.gov/local/i

ndex.cfm?state=mn

Mississippi

(601) 965

4757

http://www.hud.gov/local/index.cfm?state=ms

Missouri

–

Kansas City

Missouri

–

St. Louis

(913) 551

5644

(314) 539

6583

http://www.hud.gov/local/index.cfm?state=mo

Montana

(406) 449

5050

http://www.hud.gov/local/index.cfm?state=mt

Nebraska

(402) 492

3100

http://www.hud.gov/local/index.cfm?state=ne

Nevada

–

Las Vegas

Nevada

–

Reno

(702) 366

2100

(775) 784

5383

http://www.hud.gov/local/index.cfm?state=nv

New Hampshire

(603) 666

7510

http://www.hud.gov/local/index.cfm?state=nh

New Jersey

–

Newark

New Jersey

–

Camden

(973) 622

7900

(856) 757

5081

http://www.hud.gov/local/index.cfm?state=nj

New Mexico

(505) 346

6463

http://www.hud.gov/local/index.cfm?state=nm

New York

–

New York City

New York

–

Albany

New York

–

Buffalo

New

York

–

Syracuse

(212) 264

8000

(518) 464

4200

(716) 551

5755

(315) 477

0616

http://www.hud.gov/local/index.cfm?state=ny

North Carolina

(336) 547

4000

http://www.hud.gov/local/index.cfm?state=nc

North Dakota

(701) 239

5136

http://www.hud.gov/local/index.cfm?state=nd

Ohio

–

Cincinnati

Ohio

–

Cleveland

Ohio

–

Columbus

(513)

684

3451

(216) 522

4058

(614) 469

5737

http://www.hud.gov/local/index.cfm?state=oh

Oklahoma

–

Oklahoma City

Oklahoma

–

Tulsa

(405) 609

8509

(918) 581

7434

http://www.hud.gov/local/index.cfm?state=ok

Oregon

(503) 326

2561

http://www.hud.gov/local/index.cfm?state=or

Rogue Real Estate Investor

State

Phone Number

Website

Pennsylvania

–

Philadelphia

Pennsylvania

–

Pittsburgh

(215

) 65 6

0500

(412) 644

6428

http://www.hud.gov/local/index.cfm?state=pa

Puerto Rico/U.S. Virgin

Is lands

(787) 766

5400

http://www.hu

d.gov/local/ index.cfm?state=pr

Rhode Island

(401) 277

8300

http://www.hud.gov/local/index.cfm?state=ri

South Carolina

(803) 253

3292

http://www.hud.gov/local/index.cfm?state=sc

South Dakota

(605) 330

4223

http://www.hud.gov/local/index.cfm?state=sd

Tennessee

–

Knoxville

Tennessee

–

Memphis

Tennessee

–

Nashville

(865

) 54 5

4384

(901) 544

3367

(615) 736

5600

http://www.hud.gov/local/index.cfm?state=tn

Texas

–

Dallas

Texas

–

Ft. Worth

Texas

–

Houston

Texas

–

Lubbock

Texas

–

San Antonio

(214) 767

8300

(817) 97

5965

(713) 718

3199

(806) 472

7265

(210) 475

6806

http://www.hud.gov/local/index.cfm?state=tx

Utah

(801) 524

6070

http://www.hud.go

v/local/index.cfm?state=ut

Vermont

(802) 951

6290

http://www.hud.gov/local/index.cfm?state=vt

Virginia

(800) 842

2610

http://www.h

ud.gov/local/index.cfm?state=va

Washington

–

Seattle

Washington

–

Spokane

(206) 220

5101

(509) 353

0674

http://www.hud.gov/local/index.cfm?state=wa

West Virginia

(304) 347

7000

http://www.hud.gov/local/index.cfm?state=wv

Wisconsin

(414) 297

3214

http://www.hud.gov/local/index.cfm?state=wi

Wyoming

(307) 261

6250

http://www.hud.gov/local/index.cfm?state=wy

HUD multifamily

properties

(i.e., apartments) are

listed at

http://www.hud.gov/offices/hs

g/mfh/pd/mfplist.cfm

Federal Deposit Insurance Corporation (FDIC) Foreclosures

The FDIC was established in 1933 to bolster investor confidence in savings. The FDIC is

charged with ensuring the stability of America’s financial system. As such, the FDIC

ensures

most bank deposits up to $100,000.

The FDIC also liquidates a variety of assets

including loans and real estate. A list of properties

available for sale is updated weekly.

For more information, visit

http://www2.fdic.gov/drrore

You

can contact

the FDIC at:

Field Operations Branch

1910 Pacific Avenue

Dallas, TX 75201

Toll free p

hone:

(800) 568

9161

U.S.

Government Services Agency (GSA)/

U.S.

Internal Revenue Service (IRS)

Redemption Program

What ha

ppens when you don’t pay your

federal

taxes? The IRS may have a legal right to file a

tax lien on your real property. Should a bank or other lender foreclose the property, the IRS can

choose to exercise its lien rights and try to recover what it is owed. F

or this process to work, the

IRS must have someone guarantee to purchase the property at a minimum bid price. That’s

where the GSA comes to the rescue.

The GSA/IRS Redemption Program allows the GSA to assist the IRS in exercising its lien rights

and recov

ering money

from the sale of real property. The GSA also is responsible for selling

Rogue Real Estate Investor

unused or unneeded federal property, such as federal facility buildings, warehouses, and

military installations.

Properties may be sold by sealed bid, public auction or on

line auction. The

winning bid is the

high

est

bid.

As a winning bidder, you must purchase the property. For m

ore information, visit

https://propertydisposal.gsa.gov

/ResourceCenter/PRHomePage/loadPRHomePage.do

contact the GSA at:

GSA Property Disposal Division (9PR)

Attn: I RS Redemption Program

450 Golden Gate Avenue, 4th Floor East

San Francisco, CA 94102

3434

Phone: (202) 501

0084

Toll free phone: (800)

421

Note:

Be care

ful

,asmany

these GSA properties a re from former military bases. These

properties probably have serious environmental issues

(refer to Chapter 10)

U.S.

Department of the Treasury

–

Internal Revenue Service (IRS )

Some properties ar

enowoffereddirectlyfromtheIRSthroughpublicauctionorsealedbids.All

property is sold for cash (i.e., cashier’s check) and the winning bidder is issued a quit claim

deed. Anyone with an interest in the property can redeem within 180 days from the

sale by

paying the purchaser the amount paid plus 20 percent annual interest. The current listing of

properties is available at

http://www.treas.gov/auctions/irs/cat_Real7.htm

U.S. Marsha

sService

The U.S. Marshals Service is charged with disposing of assets, including real estate, that are

seized by federal law enforcement agencies. Visit the Asset Forfeiture Program at

http://

www.usmarshals.gov/assets/index.html

Properties seized by court order are

often

offered

for auction on Bid4Assets at

http://www.bid4assets.com

U.S. Small Business Administration (SBA)

Like the Federal H ousin

gAdministrationortheVeteran’sAdministrat

ion, the SBA guarantees

loans to

qualified small businesses. This allows businesses to receive favorable interest rates

and terms, while allowing banks the confidence to loan money knowing the U.S. government wi

back the loans. In some cases, businesses forfeit their properties and the SBA takes ownership

to pay off the lender. Visit the following web page for a current listing of SBA properties:

http:

//app1.sba.gov/pfsales/dsp_search.html

U.S. Department of Interior

–

ureau of Land M anagement

(BLM)

The Department of Interior’s BLM manages federal land primarily in 11 western states.

Occasionally, the government will decide that certain parcels of

land are no longer in the

public’s interest and they are offered f or sale. Sales may be held by public oral auction or closed

bid, usually at the BLM’s nearest regional office. For more information, visit

http://www.blm.

gov

U.S.

Department of Agriculture (USDA)

The USDA also maintains a database of residential, multifamily, commercial and farm properties

available for sale

.Formoreinformation,visit

http://www.resales.usd

a.gov

Rogue Real Estate Investor

EIGHT

Rental Property Management

“A thick skin is a gift from God.”

–

Konrad Adenaur

So you negotiated a deal and made it through closing. Now, fear sets in. Can I rent this place?

Will I find a good tenant? How much should I ask? You

should know most of the answers

already, it’s just that anxiety often m akes us irrational.

Rental property management is not hard if you set the rules ahead of time and follow them.

Advert ising

From what I have found, the Sunday classified section is s

till

agood

place to run an

advertisement. C all your local paper immediately and run an ad. Even if you are fixing up a

property, you can still take phone calls and even show the property.

Check out rental property management companies. They often have li

sts of property that they

charge renters for, and are usually more than happy to include your listin

gforfree.Next,buya

For R

ent sign at the hardware store and place it in the yard and on the closest busy str eet.

Lately, I have had excellent results w

ith Craig’s List, an online directory of classified listings.

Amazingly, you can place an ad on Craig’s List for free. Visit

http://www.craigslist.com

and

search for your regional location.

Making Appointments

lmost immediately you will receive phone calls. I try to be courteous to everyone and return all

phone calls. Establish one or two days a week t o show t he property and no more. For example,

you might say, “If you are interested in seeing the property, I wi

ll be showing it Friday night

between 6:30 p.m. and 8:00 p.m. and Sunday between 2:00 p.m. and 4:00 p.m.”

tistoochaotic

to be running over to your unit and showing it every ti m e someone calls.

Showing the Property

Make sure the property is as clean a

nd ready

go as possible. Even if you are working on the

property, pick it up a l ittle. Be sure to

have

rental applications and pens. As each person, couple

or family arrives

show them the house and spend a few minutes talking to each prospective

tenant

.You’llbeamazedatwhatyouhear.

Rogue Real Estate Investor

Ask if they would like to fill out an application or take it with them and fill it out later. I usually

indicate that I use a first

come, firs

serve basis on qualified tenants. In other words, as I receive

applicati

ons, I number them starting with “1.” My prospective tenant is the first qualified

applicant. You may choose to charge an application f ee, but I don’t. I would rather not eliminate

ahighqualitytenantbecauseofanapplicationfee.

Evaluating Tenants

nce you have a pool of tenants to

evaluate

,startwiththefirstapplicantandapplyanimpartial

screening process. The fi rst

criterion

Iusetoscreenapplicantsiswhethertheyareemployed

and how much they earn. I use the 3x rule. My tenants must make

at least three times their rent.

Employment must be verified with a phone call. I should tell you that incomplete applications do

not count. If an employer’s number or a previous landlord’s number is missing, then the

application is held awaiting completi

on. In other words, it’s put on the bottom of the pile.

As you speak with prospective tenants, relatives, employers, etc., you will hear all kinds of

stories. I listen and I feel sorry for some applicants, but I also realize that this is my property and

bad tenant is very hard to get rid of.

Finally, sort your top three winning candidates and call to congratulate the winner. Occasionally,

you will be surprised to hear that your first candidate has chosen another place or is no longer

interested. In thi

scase,moveontoyoursecondcandidate.

Section 8 tenants are a special case that you may want to consider. These individuals have

been qualified

under the HUD

Housing Choice Voucher Program

to receive government

assistance for housing

,whichwouldbep

aid directly to you. If your rent is more than their

voucher, the tenant will need to pay the difference to you. Also, your property will have to pass

an inspection before you can rent to a section 8 tenant.

Note:

As a landlord, you cannot refuse to rent

,sellornegotiatewithanyonebecauseofrace,

color, religion, sex, national origin, or mental/physical handicaps. You must abide by the Fair

Housing Act requirements. In some states, these requirements only apply to landlords operating

acertainnumber

of units (e.g., three or more properties), but to play it safe and do the right

thing you should never discriminate in choosing tenants.

Signing t he Lease

Set up a t ime to sign the lease and conduct a walk

through of the property. The walk

through

allow

sbothofyoutonoteitemsthatarefaulty,missingorbroken.Signtwocopiesofthelease

and collect the initial deposits and rent. Always require a money order, cashier’s check or cash

during the initial signing. Be sure to provide the tenant with a r

eceipt. Inexpensive receipt books

are available at office supply stores. After all of this, you are ready to hand over the keys.

Be sure to explain your expectations. Remind the tenant when the rent is due and when it is

late. I usually require rents due

on the first day of the month and consider them late after the

fourth day of the month. Remind the tenant who is responsible for yard maintenance, cleaning

gutters, changing furnace filters, etc.

Make sure that you explain your policy on fixing or paintin

ginlieuofrent.Ipersonallydon’tlike

to mix the two. In other words, I may allow a tenant to paint or fix something, but I would rather

reimburse them for paint or their services instead of taking it off the rent. I know it’s the same,

but it m akes y

our accounting more difficult to reduce rent and it gives too much incentive for

Rogue Real Estate Investor

tenants to come up with unique ways to make improvements instead of paying the full rent.

Also, it’s a good idea to require all improvements to be approved ahead of time and i

nwriting.

The

data CD that accompanies this book

has a

lease example.

Structuring a Lease

You should always require a minimum of one year for every lease, unless you run into serious

difficulty in finding suitable tenants. The reason here is that each

move takes a toll on your

property and you. E ven the best tenants create wear and tear that must be fixed before leasing

it again. This often means cleaning, painting, fixing, mowing, etc. Remember the phrase, “A bird

in the hand is better than two in a bu

sh.” It applies here. If possible, sign longer leases (i.e., 2 to

3years)andofferadiscount.Forexample,ifyouareleasingapropertyfor$725amonth,

consider dropping the price to $700 a month for

year lease. Believe me, it’

sworthit.

Renta

l Incentives

You might also consider offering a discount for rent paid on time. Let’s say you offer a bonus

incentive for your tenants to pay on or before the first day of the month. In exchange, you give

them $10 in credit to be redeemed or reimbursed at

the end of the year. This is a powerf ul

incentive. You can play it up that it will be extra Christmas m o ney. This is important to you

because you want your money on time. Remember the time value of money. Of course, if you

decide to use a property managem

ent company, they will have their own policies that will help

you get your money on time; however, you will be paying a premium for their help.

Security Deposit

You should always require a security or indemnity deposit. The amount may be dictated by the

state or local government that you are in. In Kansas, you are not allowed to accept a deposit for

more than one month’s rent.

Iusuallyrequireanoddnumberthatisslightlylowerthanonemonth’srent.Again,ifthe

monthly rent is $725, I might require

$700 for the security deposit. This signals to a tenant that

the two are separate, s o there is no enticement to skip out the last month and use the last

month’s rent to pay for it. Some property owners require both a security deposit and the last

month’s

rent or half of the last month’s rent. You will have to experiment with this.

Parting Ways/Eviction

If you run into a situation where the tenant’s rent is constantly late or they can’t pay at all, you

may have to part ways. Your first option here should

be to work with the tenant and creatively

come up with a payment schedule or way to work off the debt. F or one of my properties, i

became obvious that my tenant

could no longer pay the rent. I was patient, but worried that I

wouldn’t see my money. I met w

ith the tenant and explained th

at it wasn’t working out and that

the

property must be too expensive.

Since t he house needed some painting and a few repairs, I suggested that the tenant provide

these services and he agreed.

decided to move out in a mo

nth

,but

in the meantime, the

tenant painted the exterior and fixed the woodwork. Believe me, this is m ore than I would have

received with a hostile attitude.

Rogue Real Estate Investor

As an incentive for moving out, you can use the security deposit. It may be possible to entice a

tenant to leave with the deposit. For example, you could say that it’s not working out and that

you’ll return part of the security deposit if the tenant moves out in a month.

Sometimes your best efforts won’t work and you will have to evict a tenant. To

start the eviction

process, you must visit the county courthouse and fill out paperwork known as a writ of

possession. Each county is different, so you will need to ask a l ot of questions and follow their

procedures.

Rogue Real Estate Investor

NINE

Secrets of Selling Pr

operty

“Too m uc h of a good thing is no good.”

–

overheard somewhere

The Price is Right

Don’t even think about selling your property unless it is priced right. Refer back to Chapter 4 on

estimating the value of real property. Too many homeowners get gre

edy here and want every

last penny they can get from their property.

hat happens

in the long run

that

their property

stays on the market too long and may even be used by realtors as an example of a property that

is overpriced. Remember the time value o

fmoney.Thetimeittakestosellapropertyismoney

that you have tied up and could us e to make other deals.

also

have

alluded to the fact that rental property will likely have to be sold at below market

value because of the rental stigma. This is

especially true for single

family homes.

The Time is Right

Every year something amazing happens, and you can watch it from your car window or while

walking down the street. Every spring trees blossom, flowers bloom, birds chirp and there is a

sense of

wonder and newness in the air. Something amazing happens in the housing market as

well. For sale signs begin popping up like weeds.

By far, spring and early summer are the best times to sell a property. I suppose there are a

number of reasons for this.

Kids are out of school and parents can move easier. The weather is

nice and people are in a buying mood. Lawns and landscapes can be made into beautiful

arrangements. The best thing about selling in t he spring is that demand is high and properties

command

higher prices. Take advantage of this annual phenomenon.

As you can probably guess, the best time to buy (in most of North America) is in the middle of

winter, when it is cold and dreary. Of course, if you live in, or plan on investing in, places like

Pho

enix, Arizona or Fort Meyers, Florida, then the opposite may be true. Winter may be the

best time to sell and summer may be t he best time to buy.

The Property i s Right

The object

ive

here is to make a house sellable by spending the least amount of money .

It’s

amazing what I have seen, and

what

you

have

probably

seen

,too.Homeownersandeven

Rogue Real Estate Investor

investors get caught up in fixing every detail and making a property beautiful when in reality a

buyer wants a nice property in a good location and that’s about it.

Make small improvements that result in large profits. Here is a quick list of things to do to get

your property ready to sell:

Clean up the i nside and outside of your property. Get rid of anything that you don’t need.

Clean windows, doorknobs, walls and

make them bright and shiny. Remove any

cobwebs and dust.

Neatly arrange and reduce the amount of personal property.

If you are living in the property, get rid of about half of the clothes in your closet and

store them somewhere. Closets need to be open

and inviting.

Clean kitchen cupboards and make sure they show plenty of room.

Clean the basement and garage and remove wetness and mildew. Before applying

paint, use a product like Kilz to remove mold.

Put a fresh coat of paint on the inside and outside.

Be sure to use neutral colors (e.g.,

beige, taupe, off

white, or cream). Depending upon the condition of the paint, you may

only need to do a touch up.

Cut any weeds, tall grass or overgrown shrubs. Plant some inexpensive and blooming

flowers.

Remove stai

ns, odors and dust. Fill your house/property with pleasant odors. If you are

living there, a nice home

cooked meal may do the trick; otherwise, use scented candles,

incense or some other pleasing aroma. Be careful here. You are looking for a mild and

unive

rsally appealing aroma.

Turn all

the

lights on and use high wattage bulbs. The brighter a house, the cleaner it

seems.

Replace carpeting or steam clean.

Fix cracks in drywall.

Fix or install ceiling fans.

Clean and polish hardwood floors.

Replace old worn

faucets and other inexpensive fixtures.

Remove old shower curtains and mats.

Clean or recaulk bathroom tile.

For more information on selling your home, refer to Bruce Hahn’s book,

How to Sell Your Home

Fast

(1976).

Major improvements are much more risky.

The following table, derived from the Chicago

Federal Savings and Loan Association (1995), shows what type of cost recovery you can expect

from major home expenditures:

Rogue Real Estate Investor

Anticipated Cost Recovery of Major Home Expenditures

Improvement

Estimate

dCost

Cost Rec overy

Deck

$2,000 to $4,000

50% to 60 %

siding

$3,000 to $5,000

70%

Add a full bath

$1,500 to $3,000

40% to 70 %

Add a garage

$3,000 to $5,000

60% to 10 0%

3rd Bedroom in existing space

$6,000 to $8,000

Up to 100%

3rd Bedroom house add

ition

$7,500 and up

Up to 100%

4th Bedroom house addition

$7,500 and up

75% to 10 0%

Kitchen remodeling

$3,500 to $8,000

80% to 10 0%

Family room addition

$10,000 to $20,000

80% to 10 0%

Fireplace

$2,500 to $4,000

Up to 100%

Gutters, soffit, facia

$2,500

to $4,000

30%

Insulation

$600 to $1,70 0

None

Landscaping

$10 to $2,000

20% to 50 %

New heating/air conditioning

$1,000 to $1,500

None (expected)

Patio

$1,500 to $2,500

40% to 50 %

Repaint exterior

$1,000 to $2,000

50% to 80 %

Roof replacement

$3,000 to

$6,000

50%

Storm windows and door s

$6,000 to $10,000

25% to 30 %

Swimming pool

$2,500 to $20,000+

to 50%

Home office

$0 to $5,000+

50% to 80 %

Source: CNN, July 2002

Rogue Real Estate In

vestor

TEN

Managing Environmental Risk

“A moment’s insight is sometimes worth

alife’sexperience.”

–

Oliver Wendell Holmes

In most cases, real estate is one of the safest ways to make a high return on your money.

However, one of the biggest risks you face when purchasing real estate is environmental

problems. Purchase a property

with environmental contamination and you could lose money or,

worse yet, even go bankrupt.

Why?

If you own a property that has known environmental problems, virtually no one will want to buy

it. At a minimum, even if t he problems are minor, you likely

will only be able to sell the property

for 10 or 20 percent of what it is really worth. In many cases you will not even be able to give the

property away for free. This is because environmental laws are written so

that

the current owner

is liable for the c

ontamination, regardless of whether he/she caused the contamination or not.

Therefore, if you purchase a property with environmental problems, you are financially liable for

cleaning up the contamination to levels that are acceptable to the United States

Environmental

Protection A gen

cy (USEPA) and, in many cases, s

tate Environmental Protection Agencies. By

law, these agencies can also sue you, the property owner, and make you pay for cleanup. For

even m inor problems, environmental cleanups can cost hundre

ds of thousands of dollars.

Larger environmental problems can drag on for decades and cost millions of dollars to rectify.

For most situations, any environmental problems should be a deal killer f or real estate investors.

For foreclosed properties, und

erstanding and avoiding environmental problems takes on even

more significance. This is because you are buyi ng properties from people who are not paying

their mortgage or

,inthecaseoftaxliensortaxdeeds,theirpropertytaxes

One

reason for

letting

the property go into default is the creation or discovery of environmental problems. After

all, if you bought a property and then discovered that the property had environmental problems

and you could not sell it, what would you do?

Commercial vs. Resident

ial Properties

By far, one of the easiest ways to avoid environmental problems is to only purchase residential

properties. You will probably avoid 75 to 90 percent of all properties t hat have environmental

problems if you never bid on commercial propertie

s. This is because in most cases, individuals

Rogue Real Estate In

vestor

living in residential homes do not have any need to create, store or distribute the type and

quantity of hazardous materials that can cause significant environment al contamination.

Also, residential homes ar

enottypicallylocatedinindustrialareaswherenearbycommercial

businesses are using hazardous substances that could impact the area. Remember how

environment al laws are written:

Even if your neighbor causes your property to become contaminated, you

could still be held

liable for the contamination, especially if it cannot be proven w ho cau sed the contamination

That is one reason why cities and counties have zoning laws and often create areas called

industrial parks. In these industrial parks, bus

inesses are kept separate from residential areas

so potential environmental impacts to most citizens can be controlled. The environmental laws

are also written so levels of contamination in soil, air and water in industrial areas can be higher

than residen

tial areas and still be in compliance with the law.

Potential Environmental Problems

The following

is a

discussion

of potential environmental problems to

be aware of

and to look for

when you start resea

rching properties.

Industrial parks

Industrial par

ks are large tracts of land that have been zoned for commercial operations that are

typically involved in manufacturing some type of product.

hese industrial parks are

sometimes

located in areas that border residential areas, so watch out. Usually you can

determine if a

property is near an industrial park just by looking at a county map or driving by the property.

Highways

Although you m ight not expect it, highways can be a place where environmental problems m ay

be present. Asphalt, deicing compounds

and lead from automobile exhaust can pollute soils and

groundwater. Roadsides along highways can be potential dump sites for just about anyone

looking to get rid of something they don’t want. And because drainage channels usually border

highways, sometime

sfloodingcanbeaproblemwhendrainagechannelsfillup.Inaddition,

remember that it can be difficult to sell properties near major roadways because no one wants

traffic in their backyard. If you are l ooking at property that is near or on a major high

way, make

sure you inspect the property bordering the highway to look for signs of dumping, flooding,

asphalt/tar, soil staining, excessive trash or any other suspicious looking items.

Landfills

Landfills are everywhere. After all, where do you thi nk you

rgarbagegoeswhenthetrashtruck

comes to your door? Landfills range from municipal landfills that are used for disposing of

residential garbage to chemical/hazardous waste landfills that are specially designed to dispose

of hazardous waste. Property ne

ar any landfill almost always gets a big reduction in market

value. Property near a chemical/hazardous waste landfill may not even be sellable. You can

usually locate landfills by topographic maps or county maps. Also, there is al ways a l ot of truck

traffi

cnearalandfill.Unlessyouhavespecializedknowledge,neverbidonpropertiesneara

landfill.

Rogue Real Estate In

vestor

Gas stations

Any property near a gas station should cause alarm. To avoid explosions, gas stations have

underground storage tanks where gasoline or dies

el fuel is stored. Unfortunately, many of these

underground storage tanks leak, often causing environmental contamination in soils and

groundwater that can migrate onto adjacent properties. Gasoline and diesel fuels also contain

many hazardous chemicals, a

nd some have been proven to cause cancer. Across the United

States and the entire world for that matter, billions of dollars a year are spent cleaning up

environment al contamination caused by gas stations. Gas stations are also usually very busy

and noisy.

Avoid any properties near gas stations.

Dry cleaners

Although at the surface dry cleaners may seem harmless, they can be the cause of very serious

environment al problems. Dry cleaners use solvents to clean garments that can migrate great

dist

ances in the soil or groundwater. It i s not uncommon for dry cleaning solvents to mi grate

several miles from a dry cl eaning business. If the solvents are poured down the drain or

dumped on the ground, they can mi grate below ground and contaminate the groun

dwater. Once

the groundwater is contaminated, it c an migrate thousands of feet

away from

the dry cleaning

business and contaminate large areas of groundwater, potentially affecting many property

owners. W ells located within the solvent plume

can

become pol

luted and may no longer be

used for drinking water.

Hazardous waste sites and disposal areas

Some companies manufacture, store or transport hazardous chemicals. Federal facilities such

as military bases may use large quantities of hazardous wastes to

manufacture weapons. When

these wastes are improperly handled and released to the environment, the area often becomes

what is called a hazardous waste site. Hazardous waste sites can be anywhere, but they are

most commonly located near military bases, dump

sites, landfills, gas stations, dry cleaners or

anywhere where significant quantities of hazardous chemicals may have been used.

Hazardous waste sites that are regulated by the USEPA are called C ERCLA (also called

Superfund) and RCRA sites. CERCLA stan

ds for Comprehensive Environmental Response,

Compensation, and Liability Act and governs most hazardous waste sites that are no longer

operating facilities. RCRA stands for Resource Conservation and Recovery Act. This law

governs facilities that are still

operating. State laws also govern hazardous waste sites such as

gas stations and many RCRA facilities. Unl ess you are an expert i n environmental cleanups,

never buy a property near a hazardous waste site. You could become liable for cleaning up the

contami

nation. Many people have gone bankrupt after buying land or property on or near a

hazardous waste site.

Federal facilities, current and formerly owned military bases

Military bases are notorious for their environm ental problems. Some military installati

ons

manufacture hazardous materials (e.g., ammunition plants) or store t hem,

while

other military

bases have large maintenance facilities that service aircraft/military equipment or perform

weapons testing. Be very careful if you are looking at property ne

ar a military base or federal

facility. Many of the areas around military bases become Superfund sites that can take decades

to clean up. Property values are typically very depressed in these ar eas.

Rogue Real Estate In

vestor

Airports

Buy property near an airport an

dyoumightfindyourselfwithsomethingthatwillbedifficultto

sell.

Would you want to live near an airport

with

its

noise

pollution

?Probablynot.

In addition,

ircraft maintenance and fueling can cause environmental contamination due to t he quantity

fuel used and the toxic compounds in the fuel.

Wastewater treatment plants and pump stations

Unless you have a septic tank, when you flush your toilet the water eventually goes to a

wastewater treatment plant. These plants are undesirable for neighbo

rs because they often

smell and spills/leaks of sewage can occur. Pump stations are areas where the sewage is

collected and pumped to the wastewater treatment plant. If you can, avoid properties near all

these areas.

Refineries, tank farms, tank cleaners

and waste oil storage/handling facilities

Just about any business that manufactures, handles or stores petroleum products should be

cause for looking elsewhere. Most forms of petroleum contain hazardous chemicals, and

petroleum is very flammable and exp

losive.

Oil wells, well fields, gas and petroleum pipelines

Even in its raw form, crude oil cont

ains hazardous chemicals. O

il drillers can be sloppy in their

waste handling practices and may leave large brine pits, open holes and dump sites after they

are finished drilling.

In addition, m

any attempted drilling locations are often abandoned when

little or no oil or gas is found.

Electrical substations and power grids

Although no one has been able to definitively prove that living near a large magne

tic field

causes cancer, there is some pretty good evidence that large electrical substations and power

grids can cause serious health problems. Al so, PCBs, an environmental contaminate that can

be expensive to investigate and clean up, were at one time co

mmonly used in transformer oils.

Property located adjacent to an electrical station or beneath a large power transmission grid

should therefore be avoided.

Mines and quarries

Abandoned and current mines and quarries should be avoided. Mines often contai

nhigh

concentrations of heavy metals, lik e lead, m ercury and arsenic. A t most mines, these naturally

occurring metals are concentrated, which is the reason the mine was constructed in the first

place. Also, explosives are often used at mines to blast away

the top rock. Surface water or

groundwater passing through a m ine can become contaminated with metals and

become

overly

acidic (called acid mine drainage). Mines also

are

usually a liability issue since they can

collapse or lure children that can become l

ost and suffocate. Quarries can have similar

problems.

In addition, q

uarries

often

have steep cliffs and deep pools of water that can be a

hazard to anyone on the property.

Agricultural areas

Agricultural areas, including pig/chicken f arms, pesticide

/fertilizer manufacturers, agricultural

chemical m akers and transporters, and grain storage facilities, have the potential for

Rogue Real Estate In

vestor

environment al contamination that could migrate to adjacent property. These areas are also

usually smelly and may have a lot of tr

uck traffic. Every situation is unique, but if it looks like a

major agricultural operation is going on next door, make sure you know what it is and

understand that property values may be affected.

Fuel oil tanks

In the Northeast, many homes are

heated with fuel oil and properties often have buried fuel oil

tanks. While this should not be an immediate cause for alarm, make sur e you are familiar

enough with the local area to k now that their presence could at least be a possibility. A leaking

fuel

oil tank can be costly to fix or remove. Look for soil staining, oil sheens on nearby streams

or standing, oily water. In most cases you will not be able to fi nd the tank. When you go to the

county assessor, see if you can find out if the property has a fu

el oil tank by looking at the

county records available for the property.

Septic tanks

Similar to fuel oil t anks, properties having a septic tank should not necessarily be a cause for

alarm. Most rural properties have septic t anks and many operate corre

ctly.

faulty septic

system is usually easy to spot or, should I say, smell. Look for smells around low spots or in

ditches. If you smell sewage and the property is in a rural area, you may have located a septic

problem. This may not be a deal killer if t

he property is a good bargain, but fixing a septic

problem can cost thousands of dollars and require approval by the county.

Lead paint

Homes built prior to 197

may contain lead

based

paint. Due to increased lead l evels in children

who lived at or near

homes containing lead

based paint, lead can no longer be added to paint.

However, older homes may have lead

based paint chips around home foundations. This is not

usually a problem, but be aware that you may have to disclose this to future buyers

or renter

the property, especially if they finance the purchase with a

nFHAorothergovernmentloan.If

you are renting or owner

financing a home built before 1978, you should have your p rospective

renter or buyer sign a l ead

based paint disclosure form.

Asel

ler’s disclosure form is available at

http://www.hud.gov/offices/lead/library/enforcement/selr_eng.pdf

;andalessor’sdisclosureform

is available at

http://www.hud.gov/offices/lead/library/enforcement/lesr_eng.pdf

Asbestos

Asbestos is more common in commercial buildings, but it can be found on older homes or

located at dump sites on raw lan

d. Inhaling asbestos fibers has been proven to cause cancer in

humans and asbestos cleanups can be very expensive. Look for shingles or insulation that is

friable (breaks apart when pulled strongly), old and not flammable. It is rare to find asbestos on

residential property. If you find something that looks suspicious you can have it analyzed for

about $100.

Mold

Mold has gotten a lot of attention lately. Insulat ion or other building materials that get wet and

stay damp for a long time can be an

incubat

or for mold. One variety

called toxic black mold,

which

appears to grow very well in building materials

can cause serious health problems. This

environment al problem is sometimes difficult to spot, because even new homes t hat appear to

be properly

constructed can develop mold problems that can be hard to rectify. Entire walls may

need to be torn out and replaced, and once mold is present in a home it can be difficult to

Rogue Real Estate In

vestor

eliminate. Across America, there are many cases of builders being sued for new h

omes they

built that later developed a mold problem. New homes that enter tax delinquency because t hey

could not be sold and show no other environmental problems are possible candidates for mold

contamination. H owever, mold cases are rare, so it is unlikel

yyouwillencountermoldproblems

in most homes.

Radon

Anywhere where proper

ty is built directly onto shale (

acommontypeofbedrock

)

,radonmay

accumulate in crawl spaces, basements and low areas. Radon gas breathed over a lifetime has

been s

hown to cause cancer. A lot has been made about radon and

normally

the fear is

overblown. To fix a radon problem usually only requires better ventilation. Often all that is

needed is a fan or better circulation to k eep radon levels down. However, like all

environmental

problems, you should be aware of everything. Radon contamination is most common in the

Midwest, where basements are constructed and shale layers in the subsurface are common.

Private wells

Properties with private wells can be a blessing o

racurse.Ifthewellisnotcontaminated,you

have a very cheap water supply. If the well has contamination, you probably will not be able to

use it and may need to pay to have it abandoned to avoid future problems. Wells t hat are

located in low spots or

are near obvious contamination sources like septic tanks or fuel oil tanks

are candidates for

being polluted

.Also,rememberthatcontaminationfromothersourceslike

gas stations, dry cleaners, military bases and oil fields can travel many miles undergr

ound in

what is called a groundwater plume. Groundwater plumes can contaminate all the

wells in a

large area. Usually

if you avoid buying properties near any of the areas mentioned above, your

well should be okay.

Flooding

Flooding is a very common envi

ronmental problem that can impair or, in some cases, ruin a real

estate investment. In most situations, the government does not allow builders to construct

homes in any areas that have been designated a flood pl ain. However, even these areas are

chosen bas

ed on educated guesses of how large an area will fl ood every 50 to 100 years, so if

arealdelugeoccurs,allbetscanbeoff.Tofindevidenceofflooding,lookfordarkstainingon

structures that appear

to end at the same place. Also, look for debris o

nsmalltrees,again

hanging at roughly the same elevation across an area. Find soils that appea

rcrackedanddry,

like they h ave

been through many wet and dry c ycles. You can also l ook at topographic maps

and find areas where the contour lines are lower i

nelevationthananywhereelse.Thesemaps

may also show dotted areas that are wet during periods of the year.

Settlement

When the ground settles after a structure has been built on it, the structure may fail. Repair of

settlement problems can be ve

ry expensive. Severely cracked basements and foundations are

often easy to spot. Look for concrete structures that are cracked or not level. Clay soils settle a

lot more than sand or rock.

That is because certain clay minerals can shrink or swell, sometime

as much as two times their size from the dry to wet state. This is a large problem in some

locations, such as the Midwest.

Rogue Real Estate In

vestor

Special situations

Earthquake zones, steep cliffs or strongly sloping property, heavy rail traffic, unfavorable soil

conditi

ons and polluted groundwater represent situations that m ay be unique to certain areas.

This is why it is very important that you have some understanding of the area before you invest.

Some areas are just not suitable for investment or t heir market value is

at least impaired

because of a factor that may be common knowledge to locals but relatively unknown to

outsiders. To find most special situations that could impact the property values, learn the area

and talk to locals. If many houses in an area are not s

elling, it is usually a warning

sign that

something is wrong. For example, in some parts of Florida the com bination of limestone

bedrock and a rainy climate can result in occasional sink holes.

Environmental Assessments

After going through this list of

items to consider, you should be familiar with most of the common

types of environmental problems.

However, like m ost subjects, environmental issues can get very complicated. When checking for

environment al problems, especially on commercial properties,

many real estate attorneys

advise their clients to have what is called a Phase I Environmental Site Assessment conducted.

During a Phase I Environmental Assessment, an environmental professional will do a property

search and often visit t he site to check f

or environmental problems.

During the property search, the environmental professional will review what are called Sanborn

maps. These m aps are really just historical plat maps that show many of the previous owners

and uses of the property. T hey are date

dbyyearandcanbefoundatthecourthouse

or public

library

If you are reviewing a property and find potential signs of environmental contamination, or

suspect the area was once used for something that could have cause

environm ental

contamination, yo

ushouldprobablyconsultwithanexpertoravoidtheproperty.

During a Phase I Environmental Assessment, environmental professionals review t opographic

maps, county m aps,

and

geologic maps

,aswellas

call state professionals familiar with the

area

learn about

area groundwater,

soil conditions and any nearby contaminated sites.

part of their assessment, they scan for many of the same things discussed above to determine if

here is any reason to suspect

the property has current environmental contam

ination or could

become contaminated in the future.

After doing the Phase I Environmental Assessment, a report is prepared

.If

potential

environment al problems are found, the buyer either walks away from the real estate deal or he/

she may ask the owner o

fthepropertytoperformaPhaseIIEnvironmental

Site

Assessment.

During a Phase II Environmental Assessment, samples of soil and possibly groundwater fr om

the site are often collected and the samples are sent to a laboratory to determine if

environment a

lcontaminantsaboveregulatorylevelsarepresentontheproperty.

Working as an environmental professional for over 15 years, I have personally done many

Phase I and II i nvestigations. In most cases, I have found that common sense prevails during

these

investigations. Always remember the following:

If you would not want to live in or near the

property for any reason, do not buy it or bid on it

Rogue Real Estate In

vestor

Look on topographic maps and county maps for nearby undesirable neighbors like landfills or

waste sites.

Drive by the property to see what the neighbors look like. Any nearby commercial

or government properties should be scrutinized carefully. Look for obvious signs of

contamination on or near the property using the above guidelines.

Rogue Real Estate Investor

ELEVEN

Bankrup

tcy

Issues

“

Patience and fortitude

conquer all things

”

–

Chinese proverb

In addition

to environmental problems, bankruptcy represents one of the biggest r

isks to real

estate investors.

The reasons f or this are

two

fold.

First, bankruptcy is a risk beca

use m ost real estate investing involves distressed properties and

distress

ed owners.

Whether you are buying government foreclosures, bank foreclosures, tax

lien certificates, tax deeds or even preforeclosures, chances are you are going to be dealing

with i

ndi

viduals in financial hardship.

This means in many cases you will be dealing with

individuals

who

are either contemplating bankruptcy or have already filed for bankruptcy.

Second, and this a warning to all real estate investors, a great number of real e

state investors

and real estate developers file for bankruptcy every ye

ar.

This i s because real estate deals often

use financial leverage and when a deal goes south, it can have dire consequenc

es for the

investors involved.

As a real estate investor you mu

st always evaluate every deal closely

and

have enough margin of safety that if conditions change or you m iscalculate what you can make

on the deal, it will not cause you to file for bankruptcy.

Therefore, given both of these possibilities, every real est

ate investor should have a working

knowledge of bankruptcy and how it could affect real estate deals

he or she

might make.

In the summer of 2005,

new ban

kruptcy law went into effect. This bankruptcy law

,calledthe

Bankruptcy Abuse Prevention and Consum

er Protection Act, radically c

hanged the bankruptcy

process.

Here i s

summary of the new bankruptcy process with an emphasis on the provisions

that could affect real estate investors.

ankruptcy can

generally

be divided into three main categories: Chapte

r7,Chapter13and

Chapter 11.

Chapter 7 and Chapter 13 are reserved for person

lbankruptciesandChapter11

is reserved for corporate bankruptcy

Chapter 7 ban

kruptcies could be called drive

through bankruptcies because the pro

cess is

quick, usually la

sting six months.

Chapter 7 is designed for individuals

who

have lots of

unsecured debt (credit card debt is unsecured debt) and very l ittle if any secured debt (secured

debt is debt that is backed by collateral

such as a house).

During the bankruptcy revi

sion of

2005, Congress made it much harder for individuals to declare Cha

pter 7 bankruptcy.

Now to

declare a Chapter 7 bankruptcy, individuals must me

et the following qualifications: (1)

their

median household income must be below t he average median househ

old income for their state

Rogue Real Estate Investor

and (2)

they can only declare a Chapter 7 bankruptcy once every eight years (under the old

rules

it was once every six years). Usually

under a Chapter 7 bankruptcy, all

unsecured debt is

discharged.

Also prior to declaring bankr

uptcy of any type, credit counseling is required.

Chapter 13 bankruptcies are longer in duration and are largely reserved for individuals

who

have lots of secured debt.

Under the new rules, Chapter 13 bankruptcies are five years in

duration (under the old

laws

three years was more common). U

nder a Chapter 13 bankruptcy, a

payment plan is

typically

set

up and the debtor is required to pay back most of their debts.

Again, prior to declaring bankruptcy of any type, credit counseling is required.

Chapter 11 b

ankruptcies are reserved for corporations and the rules are complicated. Generally,

Chapter 11 bankruptcies can go on f or years and resolution of all debts is complicated.

For real estate investors desiring to purchase property from an individual involved

in bankruptcy,

hapter 7 is the best scenario.

The bankruptcy will be resolved quickly and it is unlikely that the

individual involved will keep any secured debt

(i.e., property) they own.

Under Chapter 13, the

bankruptcy process will be drawn out and the

individual will likely k

eep any secured debt they

own.

This means that if you are trying to foreclose on a home involved in a Chapter 13

bankruptcy, you may not win.

nother important consideration for real estate investors

who

may be contemplating inves

ting in

foreclosures or other distressed property is the homestead

exemption.

All states include

homestead exemptions as part of the bankruptcy process

but the range of exemptions a

llowed

between states is huge.

The following table

includes the homestead

exemptions f or

all 50

states.

In a state like Texas, the homestead exemption is unlimited, meaning an individual

cannot lose

his

house in a bankruptcy proceeding, no matter how high the value, as long as the

home has been dec

lared

the individual’s

primary

residence.

Second homes, vacation homes

and investment property do not apply

so these types of property are still at ri

sk in a bankruptcy

proceeding.

In contrast, in Delaware there is no homestead exemption

so the entire value of

the homestead is at risk

State Bankruptcy Exemptions

State

Homestead Exemption

Single ($)

Homestead Exemption

Married ($)

Land Limit

Alabama

5,000

10,000

160 acres

–

single

320 acres

married

Alaska

67,5

Unlimited

Arizona

0,000

150,000

Unlimited

Arkansas

limited if head of

household

Unlimited

0.25 acre

–

urban

80 acres

–

rural

California

$75,000 for family member

living with one o

r more non

owner family members

$150,000

years old; or

disabled;

or 55

years old

with an annual gross

income of $15,000

or less if

single

or $20,000 or less if

married

$50,000 all other persons

$75,000 for family member

living with one o

r more non

owner family members

$150,000

years old; or

disabled;

or 55

years old

with an annual gross

income of $15,000 or less i

single

or $20,000 or less if

married

$50,000 all other persons.

Unlimited

Colorado

,000

Unlimited

Connecticut

75,000

Unlimited

Rogue Real Estate Investor

State

Homestead Exemption

Single ($)

Homestead Exemption

Married ($)

Land Limit

Delaware

50,000

Unlimited

District of

Columbia

100% of aggregate interest

in r esidential

property

100% of aggregate interest

residential

property

Unlimited

Florida

Unlimited

0.5 acre

–

ity

160 acres

–

rural

Georgia

,000

Unlimited

Hawaii

20,000; 30,000 if head of

household or 65

years old

20,000; 30,000 if head of

household or

65 years old

Unlimited

Idaho

Lesser of

50,000

or total

net value

Lesser of

50,000

or total

net value

Unlimited

Illinois

15,000

Unlimited

Indiana

15,000

Unlimited

Iowa

Unlimited

0.5 acre city

40 acres rural

Kansas

Unlimited

Unli

mited

cre city

160 acres

farming

Kentucky

18,450

Unlimited

Louisiana

5,000

5 acres

–

urban

200 acres

rural

Maine

35,000 or 70,000 with minor

dependents

35,000 or 70,000 with minor

dependents

Unlimited

Maryland

5,000

Unlimited

Massachusetts

500,000

Unlimited

Michigan

30,000 or 45,000 if 65

years old or disabled

30,000 or 45,000 if 65

years old or disabled

1 lot city

40 acres rural

Minnesota

200,000; 500,000 if

primarily agricultural

200,000; 500,000 if

primarily agri

cultural

0.5 acre city

160 acres rural

Mississippi

75,000

160 acres

Missouri

,000

Unlimited

Montana

0,000

Unlimited

Nebraska

0,000

2 lots

–

city

160 acres

–

rural

Nevada

350

,000

350

,000

Unlimited

New

Hampshire

0,00

0,000

Unlimited

New Jersey

0 ( no exemption)

None

New Mexico

30,000

60,000

Unlimited

New York

0,000

Unlimited

North Carolina

10,000

Unlimited

North Dakota

80,000

Unlimited

Ohio

5,000

Unlimited

Oklahoma

Unlimited

Oregon

,000

Unlimited

Pennsylvania

0 ( no exemption)

None

Rhode Island

200,000

Unlimited

South Carolina

5,000

10,000

Unlimited

South Dakota

Unlimited

Tennessee

5,000

Unlimited

Texas

Unlimited

acre

–

city;

00 acres

–

rural

Utah

,000

–

primary residence

5,000

–

other residence

40,000

–

primary residence

10,000

–

other residence

1 acre

–

primary

residence

Vermont

,000

75,000

Unlimited

Virgi

nia

5,000

plus 500 per

dependent

5,000 plus 500 per

dependant

Unlimited

Rogue Real Estate Investor

State

Homestead Exemption

Single ($)

Homestead Exemption

Married ($)

Land Limit

Washington

Lesser of 125,000 or total

net value of property

Lesser of 125,000 or total

net value of property

Unlimited

West Virginia

25,000

Unlimited

Wisconsin

40,000

Unlimited

Wyoming

10,000

Unlimited

Note

Visit

http://www.totalbankruptc y.com/bankruptcy_laws_in_your_state.htm

for more specific

details regarding state homestead

exemptions.

During the bankruptcy reform act of 2005, the homestead r

evisions were tightened at the f

ederal

level by capping the amount of the homestead exemption at $125,000 for any primary re sidence

where the occupant had only lived in t

he home for 40 m

onths or l ess.

This cracked down on a

common practice that had been occurring

where

high net worth individuals

who

wanted to

protect their assets in a bankruptcy filing were moving to states with high homestead

exemptions prior to declaring bankruptcy.

erall, real estate investors need t o remember three things about the bankruptcy process.

First, it will

slow down any real estate deal.

If you know beforehand that a property is involved in

bankruptcy, either plan on being patient or wa

lk away and find

another deal.

Chapter 7

bankruptcies will be resolved relatively quickly

but Chapter 11 and Chapter 13 bankruptcies can

drag on for years.

Second, if t he owner lives in a state with an unlimited homestead exemption and has occupied

the home f

or more than 40 months, your chances of foreclosure

are less

Third, vacation homes, second homes and investment property are not considered

homesteaded property and will not be protected in a bankruptcy proceeding

This is a double

edged sw

ord for real

estate investors.

If you are attempting to acquire a property that is not

homesteaded through the foreclosure process, yo

uwilllikelygettheproperty.

However, if you

are the owner of an investment property and are facing bankruptcy, you will likely los

ethe

property.

Rogue Real Estate Investor

TWELVE

Tax Implications of Selling Property

“The point to remember is that what the government

gives it must first take away.”

–

John S. Coleman

Whether you’re buying and selling foreclosures, holding on to rental

properties for an extended

period, purchasing tax liens or buying notes, Uncle Sam is anxiously awaiting his cut of the

profits. If you’re like me, you don’t mind paying your fair share, right? Well, how about paying

more than you’re required. In fact, ho

wwouldyouliketopayalotmorethansomeoneelseand

receive the same benefits? I wouldn’t.

The point is to minimize your tax liability. You are not trying to get by without paying taxes;

rather, you just want to make sure that you only pay what is r

equired.

Capital Gains and Dep reciation Recovery

First, if you buy and sell property and m ake a profit, you incur capital gains. Long

term capital

gains are generally taxed at a rate lower than your personal income tax rate. That is a bonus

and another r

eason to leave your 9 to 5 job and start a career in real estate.

The IRS considers long

term investments as those lasting over a period of one year. Short

term

capital gains are taxed at your normal income tax rate, which could be as high as 35 percent

for

some taxpayers.

Although the capital gains rate and holding periods seem to fluctuate with changing

administrations, t he recent tendency has been to keep the rate below your ordinary income tax

rate. Before M ay 6, 2003, the rates were 20 percent f or m

ost long

term gains and 10 percent f or

taxpayers in the 1 5 percent category. Currently, the long

term capital gains rate is 15 percent for

most taxpayers. If you fall into the 10 or 15 percent tax brackets, the capital gains rate is only 5

percent.

These f

avorable capital gains rates are set to expire in 2010 unless reauthorized, so

keep that in mind because it could reduce your investment returns more than you realize.

For now, th

eincentiveissimple.Holdontorealestatelongerthanayearbeforesel

ling to

reduce your tax liability. For foreclosures and properties that you were planning to resell, it will

be necessary to rent out the property f or at least one year before selling.

Capital gains occur when you buy a property and sell it for more t han

what you paid for it or the

basis of the property. The basis can be affected by expenses, but for simplicity if you bought a

property for $50,000 and sold it a few years later for $65,000, then you have incurred a capital

gain of $15,000 and it will be tax

ed at 15 percent. So, you owe Uncle S am $2,250.

Rogue Real Estate Investor

That’s pretty easy so far. Now, how about depreciation? If you depreciate a rental house, then

there will come a day of reckoning. In essence, the government has loaned you money and now

it’s time to pay back

your debt. Depreciation recovery is taxed at your tax rate, or 25 percent in

most cases.

In our previous e xample, you may have depreciated the property for a few years

et’s say the

depreciation taken is $5,000. This $5,000 is recovered and taxed at 25

percent. To summarize,

you bought an investment property at $50,000 and sold it for $65,000. You depreciated the

property so that its new basis is now $45,000. You owe taxes on $20,000, but at two different

rates as shown below:

Investment Property Exampl

Purchase Price = $50,000

Purchase P rice

Sale Price

Tax Rate

Taxes Due

Appreciation = $15,000

15%

$2,250

Original Basis =

$50,000

Depreciat ion = $5,000

25%

$1,250

New Basis = $45,000

Not Applicable

Total

$3,500

So are there any ways around pay

ing these taxes? The simple answer is yes.

Self

Directed Individual Retirement Accounts (IRAs)

or 401(k)s

Imagine being able to invest in real estate tax free or tax deferred. Well, amazingly you can.

IhavetoadmitthatIhaveonlyknownabouttrue

self

directed IRAs for

few

year

.The

problem is that I thought I had a self

directed IRA through my brokerage company. After all, I

can buy stocks, m utual funds, bonds and other publicly traded securities. What I didn’t r ealize is

that I can also buy an

yofthefollowingwithatrueself

directed IRA:

Real property (i.e., real estate)

Tax liens

Tax deeds

Notes and mortgages

Businesses

Partnerships

Limited liability companies.

So, you can actually buy and sell re

al estate investments through an

IRA. Tha

t’s right! Maybe I

should say that again:

You can buy and sell real estate investments through an IRA.

There are a few items that you can’t buy through an IRA and these are included in IRS

publication 590 (

http://www.irs.gov/publications/p590/index.html

). In short, you cannot invest

your IRA money in collectibles, antiques, coins, stamps, life insurance contracts, metals, gems

and alcoholic beverages. You

also are

not allowed to buy, sell or

exchange property or

investments to a disqualified person, such as

yourself,

aspouse,child,father,motherorothers

who are closely related to you (refer to Publication 590).

Rogue Real Estate Investor

Your IRA was designed to give you flexibility; however, it seems that only b

rokerage companies

caught on. They control much of the process and t hey limit what you can purchase. After all,

they don’t make a ny money off of your purchase of a foreclosure or a tax lien certificate.

To make a long story short, you will need to contac

tanothercompanythatissetuptohandlea

true self

directed IRA. You can find information from these companies on rolling over an existing

IRA, qualified retirement plan or setting up a new IRA account. Any purchases or sales will need

to be made in th

enameoftheIRAtrustaccount,unlessyouhavetheIRAinvestinanLLCthat

you

manage and

control. Then

you can truly realize flexibility.

Before setting up an IRA/LLC, be

sure to contact a qualified professional or seek legal guidance. The last thing

you want to do is

accidentally trigger a taxable event.

The following companies are set up to handle true self

directed IRAs:

The

Entrust

Group

–

http://www.entrustadmin.com

Equity Trust Company

–

http://www.trustetc.com

Fiserv Investment Support Services

–

http://www.fiserviss.com

PENSCO

Trust Company

–

http://www.pensco.com

Sterling

Trust Company

–

http://www.sterling

trust.com

If you would

prefer that a

company

set up and manage

your self

directed IRA and LLC, you may

need to contact a self

directed IRA facilitator

For the latest inf

ormation on self

directed IRA

accounts,

trustees and facilitators,

visit our website at

http://www.selfdirectedIRAaccounts.com

Remember, you can set up a traditional IRA and earnings are deferred u

ntil retirement. You can

also set up a Roth IRA by paying the taxes upfront. Any earnings in a Roth IRA are tax free.

That’s right. You do not pay taxes on the earnings. The sky is the limit. If you have children, like

Ido,considersettinguporrolling

over an educational IRA. If you’ve left an employer and have

a401(k)plan,youcanrollitoverintoanIRA.

For small businesses, you should consider setting up either an SEP Plan or a SIMPLE IRA in

addition to your standard or Roth IRA. Then you can t

ruly recognize the power of savings and

compound interest.

One of the latest and most exciting ways to invest in real estate tax deferred and tax free is

through a self

directed, individual 401(k) plan. As the name implies, these plans are designed

for i

ndividual business owners, but the benefits are even better than IRAs in many cases.

Kind Exchanges (1031 E xchanges)

Many real estate investors are aware of like

kind or 1031 exchanges. Essentially, you can avoid

capital gains taxes (not depreciati

on recove

ry)

by exchanging one property for another of equal

or greater value within a given time f ram e and by an unbiased t hird party.

In general, the property exchange must occur by an intermediary. T he term like

kind means that

just about any investmen

tpropertythatyouexchangeforanotherinvestmentpropertywill

qualify as a like kind, unless one of the properties is located outside of the United States.

The exchanged property must be identified within 45 days and acquired within 180 days to

qualif

y. The exchange can occur between related parties (e.g., father to son), but certain rules

apply. The most notable rule is a two

year holding period.

Rogue Real Estate Investor

For more information on like

kind exchanges, visit

http://www4.law.cornell.edu/uscode/26/1031.html

Owner Financing (Installment Sales)

One simple way to avoid a huge tax bill is to receive payments over time, rather t han as a lump

sum. This process is referred to as an installment sale. Most

real estate investors call it owner

financing.

For example, instead of receiving a lump sum payment of $100,000 for a property, you could

structure it so that the buyer pays you in installments. In essence, you would be acting as a

mortgage company, so

you need to balance the tax implications with the risk associated with

financing.

As another example

,youmayrequireadownpaymentof$10,000,whichwouldbetaxablein

terms of both rec overing depreciation and capital gains taxes. You could then finan

ce the rest

over a period of 15 years or any other time frame. You could even create a balloon payment

that is due in so many years. An example would be a loan that is amortized o

ver

30 years, but

due in

seven years. You may decide that in seven

years, you

’ll be r

etired and the lump sum

payment would

be okay; however, now you are working and the extra income would be

problematic

Remember, if you structure a deal like this you should seek legal advice and have a reputable

title company help with the closi

ng. Also, realize that the loan could be paid off early or the

buyer could default and you would then have to foreclose, which is not necessarily the easiest

process.

Another strategy is to allow the buyer to obtain outside financing and you provide a sec

ond

mortgage on your equity. This certainly is appealing to the buyer, but you would be in second

position for any foreclosure proceedings.

Trusts

Many real estate investors and even companies are starting to use trusts as part of a strategic

plan to not

only limit liability, but also to protect their name or business name. This type of trust

is referred to as a land trust, title holding trust, or real es tate privacy trust. T hese trusts allow the

investor to be the beneficiary of the trust; however, the t

itle is held with the trustee.

Have you ever thought of investing in real estate for your children? A wonderful vehicle by which

to do this is a trust, or private a nnuity trust. These trusts allow you to sell property or deed it to a

trust and m ake your

children the trustees and beneficiaries. You then structure the trust so that

it pays out in installments. Like IRAs, you must begin receiving payments at age 70 ½. Taxes

will then be due only on the installments.

Like most things in life, there are some

restrictions that you should be aware of. First, once the

trust is established, you are technically not in control. The trust owns and operates t he property,

and the trustees (presumably, your children) are in charge of it. If you do exert control over th

trust, you could be in violation of the trust and lose the tax

deferred status. Trusts also

are

not

simple to set up and will likely require the services of an attorney. Depending upon the amount

of taxes owed, you may want to weigh the attorney fees in

the decision process.

Another type of trust, called a Charitable Remainder Trust, can be used in a similar manner to

defer taxes. In this case, the qualified non

profit or charity assumes control as the trustee and

Rogue Real Estate Investor

you receive annuity payments or install

ments. The installments are taxable, but this may be the

perfect way to provide steady income without paying a huge tax bill.

Upon your death, the “remainder” of the trust goes to the charity. What a great way to fund your

favorite charity.

For more info

rmation on the tax implications of selling your property, Richard Williamson’s book,

Selling Real Estate Without Paying Taxes, A Guide to Capital Gains Tax Alternatives

(2003), is

an excellent resource.

Rogue Real Estate Investor

THIRTEEN

Summar y and Quick Start Gu

ide

“Behold the turtle. He makes progress only

when he sticks his neck out.”

–

James Bryant C onant

Now it’s time to get started in real estate investing. Here is a summary of things to remember:

Real estate investing can and will make you wealthy. T

he single most important asset

that most Americans have is their own home. Why not multiply this effect and own

several homes or other types of real estate?

Only choose houses, condominiums, duplexes, apartments or office buildings that you

would be willi

ng to live or work in.

If you are investing in residential real estate, think in

terms of "bread and butter" houses. A "bread and butter" house is a decent looking,

livable house in a good location, with at least three bedrooms.

By far, location is more

portant than the property.

Don’t kid yourself.

You won’t make any substantial money

on properties bought in neighborhoods in decline.

There are lucrative methods for investing in real estate other than buying and selling

property or rental m anagement. Con

sider investing in Real Estate Investment Trusts, tax

lien certificates, tax deed pro perties or discounted mortgages.

Real estate investing is both investing and a small business. Treat it like a small

business, not just an investment. Consider your busin

ess structure an

dlookinto

establishing an LLC or other business structure.

"No money down" tec

hniques can work, but often

the properties are extremely run down

or in bad areas.

Most property owners will require some money down or otherwise the

risk is o

nthem.Moneytalks.Sometimesit’sbettertoputsomemoneydowntonegotiate

abetterdeal.Theobjectisthebestdeal.

Get started buying a repossessed h

ome. Contact your local Veteran

Affairs office

,HUD

office, or several bank REO departments.

The

real estate industry is often wary of anything that strays outside of the norm.

In fact,

you will know more about real estate investing after re

ading this book than about 9

percent of the agents you come in contact with.

There are more or less two types

of real estate agents: buyers and sellers.

If you are

working with an agent to find a house and you have signed a buyer’s agency agreement,

Rogue Real Estate Investor

then you can say anything in confidence and the agent is required by law to

work for

your best interest.

On the oth

er hand, most of the time you will be calling about

properties listed with a seller’s agent.

Aseller’sagentisnotworkingforyouandisnot

concerned about your best interests.

Therefore, be careful of what you say. In certain

circumstances, a dual age

ncy situation may arise.

My only advice here is to be

careful.

An agent cannot properly serve two competing interests.

For more information

on this, call your state real estate commission.

Agents are required by law to present any offer to the buyer, even

if the agent s ays "he

or she won’t sell it for that."

Agents

also are

notorious for tr ying to quash creative

financing arrangements.

If you are renting a property, develop a comprehensive screening sy stem that is fair,

non

prejudicial and protective of y

our investment.

For example, use your monthly rent

times a multiplier (e.g., 3x) to screen out candidates. If you are asking $700 per month,

then make sure t hat your renter is making at least $2,100 per m o nth.

This leaves a

portion of their salary f or groc

eries, utilities and other living expenses. Be friendly and

respectful to your tenants, but remember that this is a business.

Always call references, employers and former landlords.

Remember t o think long term.

Very few properties will be worth your time

or trouble to fix

up and sell quickly ("flip," i n real estate vernacular).

Also, consider that the IRS wants

you to hold investments, including real estate, for at least one year.

The incentive is a 10

percent decrease in capital gains taxes (from 25 perc

ent to 15 percent for most

taxpayers).

For active participants in real estate (i.e., rental property owners who manage their own

properties), lucrative tax advantages are still available.

Make f riends with a handyman or make sure that you can fix plumbin

g, electrical,

heating and air conditioning problems.

You want someone who is trustworthy,

reasonable with costs, reliable and friendly.

Be careful with contractors.

Make at least $100 per month positive cash flow per unit.

Otherwise, i t is not worth your

time and effort.

Break out the classified ads and start calling. You’ll never learn until you get in the game.

Avoid properties with environmental problems.

Before you sell, make sure you understand the tax implications.

Best wishes as you embark on y

our career i n real estate investing.

READY…FIRE…AIM

Rogue Real Estate Investor

References

Robert G. Allen, 1990,

Nothing Down for the 90s

,Simon&Schuster,NewYork

,368

pp.

Steve Berges, 2005.

The C omplete Guide to Investing in Undervalued Properties

,McGrawHill

Companies

,NewYork,211pp.

Stephen R. Covey,

2004

The 7 Habits of Highly Effective People

Simon & Schuster Adult

Publishing Group

New York,

384

pp.

Bruce N. Hahn,

1995

The New H

ow to Sell Your Home Fast

,TheAmericanHomeowners

Foundation, Arlington, Virgin

ia, 142 pp.

Thomas J. Lucier, 2005.

How to Make Money with Real Estate Options

,JohnWiley&Sons,

Inc., Hoboken, N

ew Jersey, 264

pp.

Anthony Mancuso, 2007

Form Your Own Limited Liability Company

5th

Edition, Nolo

Berkeley, California, 304 pp.

Carlet

on H . Sheets, 1994,

No Down Payment

,NinthEdition,TheProfessionalEducation

Institute.

Jon Spoelstra, 2001,

Marketing Outrageously

,BardPress

256 pp.

Russ Whitney, 1994,

Building Wealth

,Simon&Schuster

Adult Publishing Group

,NewYork

288

pp.

Richard T. Williamson, 2003,

Selling R

eal Estate Without P aying Taxes:

AGuidetoCapital

Gains Tax Alternatives

,KaplanPublishing,224

pp.

Zig Ziglar, 1995,

Goals: Setting and Achieving Them on Schedule,

Simon & Schuster Audio,

audiocassette tapes

–

bridged.

Rogue Real Estate Investor

APPENDIX A

Glossary of Real Estate Terms and Definitions

Real Estate Term

Definition

Acre

A un it of area equal to 43,560 square feet used to measure la nd.

Agent or Real Estate Agent

An individual who works for a real estate broker, but

acts as the

broker’s salesperson to conduct business. A real estate agent helps

buy and sell property and in exchange is given a commission from the

sale. A real estate agent has a fiduciary responsibility to act in the

buyer or seller’s best interest dep

ending upon the arrangement.

Amortize

Paying off a loan through a series of equal sized payments.

Generally, the initial payments include more interest than principal;

toward the end of the amortization period, the payment includes more

principal than in

terest.

ARM

Adjustable Rate Mortgage. A mortgage with an interest rate that

fluctuates with the going interest and is based upon a known

standard, such as a T

bill.

Assumable

Another individual or entity can acquire the mortgage either with or

without q

ualifying, depending upon the type of loan. Most assumable

loans now require the new buyer to qualify. Assumable loans include

FHA, VA and owner

financed notes.

Balloon Payment

A mortgage loan under which the final payment is significantly larger

than the

previous payment. A balloon mortgage is often amort ized

over a cer tain number of years (e.g., 15, 20 or 30), but the final

payment may be due sooner. For example, it is possible to offer a 7

year balloon mortgage amortized over 20 years.

Blanket Mortgage

A mortgage creating a lien against two or more tracts of real propert y.

Broker or Real Estate Broker

A r ea l estate broker is an individual who, by law, represents a buyer

or seller and has a fiduciary responsibility to act in their best interest.

A r ea l

estate agent works for a real estate broker. A real estate broker

can also be a real estate agent.

Buyer's Agent

A r ea l estate agent who represents the buyer an d acts in the buyer’s

best interest. Generally, the buyer pays nothing for a buyer’s agent,

ut the buyer’s agent is paid from the sale. In the cas e of a buyer and

seller’s agent, the commission will be split.

Capitalization

In real estate appraisal it is the process of convert ing income, such as

rental income, to a property val ue.

Capitalizatio

n ( Cap) Rate

The ratio of income to a property’s value.

Cash Flow

The net income from a property or the difference between income and

expenses.

CMA

Competitive or Comparable Market Analysis

Commission

The percentage of money earned by a real estate agen

t/broker. It is

negotiable and often depends upon the type of property. Resident ial

homes typically require 7% commission.

Contract

Agreement between competent parties. A real estate contract typically

includes an offer, acceptance by the seller and consi

deration (i.e.,

earnest money) by the buyer.

Contract For Deed

Also called a Land Contract. A contract under which the seller keeps

the title un til all payments have been made.

Conventional Mortgage

A mortgage loan that is not backed by a government agen

cy like FHA

or VA.

Rogue Real Estate Investor

Real Estate Term

Definition

Deed

A legal document used to transfer real estate.

Deed of Trust

A legal document used to transfer real estate to a trustee, like a

mortgage. Allows for foreclosure without the necessity of a lawsuit.

Dis

count Points

A fee charged by lenders that is usually based upon a percentage of

the purchase price. For instance, one point is equal to 1% of the

purchase price. A point on a $100,000 loan would cost $1,000.

Dual Agent/Agency

A r ea l estate broker represe

nting both t he buyer and the seller. Even

though two real es tate agents are involved, if they work for the same

broker, a dual agency situation may arise. The real estate agents

should advise you when this is the c ase.

Due Diligence

A bu zzword in real est

ate for doing your homework and evaluating a

property. It is also used in real estate when a buyer is evaluating

environmental concerns.

Earnest Money

Usually a deposit to pur chase real estate that shows you are serious.

If the buyer defaults the seller w

ill receive the earnest money. As an

investor, it is important to limit the amount you pu t down and include

contingencies in the contract. For example, a contract can be

contingent upon obtaining financing at an interest rate below 9%.

Easement

A r ig ht to

use or access real estate by another entity. Utility

companies usually have easements granted by the city. They have

the right to access your property to repair or replace a utility.

Encroachment

Real proper ty that extends onto adjacent land owned by som

eone

else.

Escrow

A ne utral or unbiased part y used to handle

real estate matter. Title

companies often act as escrow agents.

Equity

The difference between a property’s market value and the loan

balance.

Fair Housing Act

Federa

aw regulating equal

opportunity in the sale and rental of real

property.

FHA

Federal Housing Administrat ion. A government ag ency responsible

for ensuring that al l qualified Americans are able to purchase real

estate. FHA guarantees mortgages and operates a number of other

ograms designed to encourage home ownership.

FICO

FICO is a credit score developed by Fair Isaac Corporation. It is used

by many mortgage lenders that use a risk

based system to determine

the possibility that the borrower may default on financial obligati

ons to

the mortgage lender.

Fixture

Personal property that becomes real property by attachment. An

example is a ceiling fan that was once personal property. Once

att ached to the ceiling, it becomes real property.

FSBO

For Sale By Owner. An owner who is a

ttempting to sell real property

without a real estate broker.

General Warranty Deed

A de ed that contains promises against any other claims to title on the

property. It is the most protect ive of a potential buyer.

HUD

Housing and Urban Development. A U.S

. government agency that

operates many different housing programs including the FHA

program.

Joint Tenant

Two or more parties

who

own real property. Upon death, the

remaining ownership transfers to the surviving partner(s).

Landlord

A property owner who

leases his/her property.

Lease

An agreement to temporar ily occupy someone’s property.

Legal Description

A means by which others can locate property. It is most often

described using the Section, Township and Range method.

Rogue Real Estate Investor

Real Estate Term

Definition

Lien

An encumbrance on a property t itle/deed that must be paid or

resolved prior to a sale.

Mechanic’s Lien

One of the most common types of liens. It is caused by failure to pay

a contractor for services rendered on a property.

MIP

Mortgage Insurance Pre

mium. Insurance required by a lender in case

of default. Associated with FHA loans.

MLS

Multiple Listing Service. A database operated by realtors.

Mortgage

A promise to pay that is secured by real estate. It creates a lien

against r eal estate until it is

paid.

Personal Property

Property that is not attached to real estate and in the case of a sale is

not obligated to remain with the property. Be caref ul to determine

exactly what

personal pr operty is

and what

real property is

. For

example, a window unit a

ir conditioner is probably not real property,

but a central air conditioner is real property.

Phase I

An environmental site assessment for real property that looks for

potential environmental hazards , such as lead

based paint, asbestos,

radon and nearby c

hemical plants or gas stations. Phase I

environmental site assessments are performed because the owner is

liable for environmental cleanups, which can cost thousands to

millions of dollars.

PITI

Principal, Interest, Taxes and Insurance.

PMI

Private Mortg

age Insurance. Required by most lenders for buyers

who put down less than 20% of the purchase price.

Quitclaim Deed

A de ed used to release a claim without making any warranties.

Divorced

part

ies

will often use a quitclaim deed to release claims on

prope

rty.

Real Estate

Land plus fixtures on the land. It is also referred to as real property.

Real Property

Real estate that contains the associat ed rights, suc h as mineral rights.

REITs

Real Estate Investment Trusts. Securities of companies that invest in

real estate.

REO

Real Estate Owned. Property foreclosed by and owned by a banker or

lender.

Second/Third Mortgage

Subordinate mort ga ges that are paid after the primary or first

mortgage.

Seller's Agent

A r ea l estate agent who represents the seller in a

property

transaction. The seller’s agent has a f iduciary responsibility to act in

the seller’s best interest.

Subordination

To move a mortgage to a lower position, as in moving a first mortgage

to a second mortgage.

Survey

The process of determining th

e legal boundaries of real estate.

Tax Lien

A lien agai nst property du e to unpaid taxes.

Tax Lien Certificates

Certificat es purc ha sed by investors that offer certain rights to property

with outstanding tax debt.

Tenant in Comm on

Two or more ten ants th

at own a certain percentage of property, such

as a condominium.

Vendee

A buyer of real estate.

Vendor

A seller of real estate.

Some definitions were modified from

Jack P. Friedman

et al.,

2005

Dictionary of Real Estat e Terms

Edition, Barron

’

Educ

ational Series

, New York,

512

pp.

Rogue Tax Sale Investor

ONE

Why Should You Read This Book?

“If a m an wants his dreams to com e true

then he must wake up.”

–

nonymous

What would you say if we told you that there is a safe and virtually guaranteed way to make 16

to 24 percent return per year on you

rmoneythat

only a

few people know about?

What would you say if this investing method could occasionally give you an even greater return

on your money, possibly 50 percent to more than 100 percent return on your money per year?

What would you say if we

told you that this investing method was sanctioned, encouraged and

arranged by the government, and that the government had a very strong motivation to make

sure it worked effectively and was as safe as possible?

What would you say if you realized that th

esafetyofthisinvestmentwasnotonlymonitoredby

the government, it was actually backed by the most powerful collateral in the world

–

real

property?

Does this sound too good to be true?

It’s not.

Tax lien

certificates, which are discussed mor

efullyinChapter2,

are

probably

one of

the safest,

most lucrative and undiscovered investing method in the world. Here are the reasons why:

Tax lien certificates routinely provide an investment return to investors of 16 to 24

percent per year or more.

In some states, an investor can earn a flat interest rate of 20 to 25 percent. In Texas,

investors can earn 25 percent in less than 6 months for most properties, resulting in a

whopping 50 percent or more annual return.

Other states that offer very high r

ates of

return if the lien or deed is redeemed quickly include Florida, Illinois, Rhode Island,

Georgia, Delaware and Indiana.

In some cases, purchasers of tax lien certificates can walk away with an entire property

for only the taxes owed (often pennie

sonthedollar).

Compared to most investments, tax lien certificates are relatively safe. This is because

state governments issue tax liens and monitor tax lien certificate sales, so if you do your

Rogue Tax Sale Investor

homework the investment risk is

usually

low. Tax lien

certificates also

are

backed by the

property they are issued against, so that if the defaulter does not pay the tax lien

certificate investor all the money and interest due, the

defaulter

lose

the entire property

for only the taxes and penalties owed. Peo

ple get very motivated to pay up if the

alternative is to lose their home.

Tax lien certificates are an undiscovered investing method

because very few books

have been written on the subject. If you don’t believe me, go to the library and try to find

than one or two books on tax lien certificate investing. You will be lucky if you find

any books at all, and almost all tax lien certificate books are extremely outdated.

Tax

deeds are even more undiscovered. After several years of research, we have never

found a book that covers tax deed sales in any detail.

We spent

several

years researching tax lien certificates and found most books were 5 to 10

years old and very general. This is because tax lien certificates are handled differently by every

state

and the procedures change. Also, up until now, it was difficult to decipher all the legal

language associated with tax lien certificate investing (almost all the rules and proc

edures were

written by lawyers).

However, the Internet

has changed this, with mo

re information easily

available to more people

When you comb

ine all these factors, tax lien certificates

and tax deeds

are

two of the

most

lucrative and unique investment methods. They also

are

one of the safest methods of investing.

Add the explosive

power of the Internet and now is

agreat

time to start investing in tax lien

certificates

and tax deeds

What would you rather do?

Earn 2 to 5 percent per year on your money by buying savings bonds or CDs,

Watch your investment dollars go up and down

like a y

yo in the stock market and

potentially lose money if the economy or an individual company

whose stock

you own

does poorly, or the CEO lies about the company’s financial numbers, or

Earn 16 to 24 percent per year by investing in a government

cont

rolled system that is

backed by someone’s entire property if they don’t repay?

Tax deeds, which also are discussed in Chapter 2, represent a terrific way to buy real estate for

70 to 90 percent off, or literally pennies on the dollar.

In many states, r

ather than issuing a lien against a property, the county or municipality

forecloses on the lien and the deed (ownership) is auctioned off to investors.

If investing in tax lien certificates and tax deeds sounds intriguing, read on.

Rogue Tax Sale Investor

TWO

What Are Tax Liens and Tax Deeds?

“Don’t buy the house; buy the neighborhood.”

–

Russian proverb

County governments are often faced with an interesting problem: some of their property owners

do not pay their property tax bills.

Why is this a

problem?

County governments depend strongly on tax revenue collected from property owners to operate

the county government and pay county employees. In many counties, over 50 percent of the

entire county budget comes from collecting property taxes.

his makes addressing delinquent property taxes a high priority for most counties. Fortunately,

there is a solution for everyone. This solution provides income for the county, a safe and

profitable investment return for the investor, and a little extra time

for the person in default to try

and come up with the money. It is called a tax lien.

Ataxlienisalienorencumbranceplacedonrealpropertyforfailuretopaytaxes.Ataxlienisa

powerful lien that, in most jurisdictions, takes

precedence over

mortgage liens and

mechanic

’

liens. In essence, a tax lien becomes first priority and, if the property is foreclosed, will eliminate

amortgagelien.Generally,InternalRevenueService(IRS)liensandlocalgovernment

assessments will still remain and co

uld become the investor’s responsibility.

Here is an example of how a tax lien certificate works.

Jerry Latepay gets in some financial trouble and cannot pay his property tax bill. After a few

warning letters from the county, he is delinquent. To make Je

rry aware of the serious nature of

property tax delinquency and start the legal ball rolling, the county places a tax lien on Jerry’s

property for the amount of the taxes owed. The tax lien becomes a debt on the property and

must be paid off before the pro

perty can be sold or legally cleared. In most counties, Jerry

Latepay is considered in default the day after his property taxes are not paid. This shows Jerry

Latepay how serious the county is when it comes to not paying property taxes.

nce a year the county has a tax lien auction. If Jerry Latepay has not paid his property taxes

by the time of the auction, the county includes Jerry’s property in the tax lien auction. To make

the tax lien enticing to investors, a state

mandated interest r

ate, which varies from state to state

but is usually in the range of 10 to 24 percent per year, is added to the tax lien. Some states call

this a penalty, while other states just refer to it as the interest rate; however, each state has its

own procedures.

The state then creates what is called a tax lien certificate (also called a

Rogue Tax Sale Investor

certificate of purchase) to offer to investors at the auction. The tax lien certificate is the physical

piece of paper that gives the investor a legal claim to the investment. In

most states, the interest

rate on the tax lien is what the bidding will start at when investors bid on the tax lien certificate

created by Jerry’s delinquent tax bill.

At the auction, an investor buys the tax lien certificate issued for Jerry’s property

.Thevalueof

the tax lien certificate is equal to the delinquent taxes owed on the property plus any penalties.

When the investor buys the tax lien certificate issued for Jerry’s property, he/she is essentially

paying off the delinquent property taxes ow

ed to the county. Jerry now owes the tax lien

investor all the back taxes owed plus the amount of interest due on the tax lien certificate.

Although the rules vary from state to state, in most states interest starts to accrue the day the

tax lien certifica

te is sold. Thus, the longer Jerry waits to pay off the tax lien certificate, the more

money the investor earns. In some states, if Jerry waits more than a year to pay, the interest

rate increases and the investor makes even more money. After a tax lien ce

rtificate is issued,

there are two possible outcomes.

In about 95 percent of the cases, Jerry Latepay comes up with the money. This is because Jerry

does not want to lose his home

or property

Now you can see

why tax lien certificates are an

ultra safe in

vestment. When Jerry comes up with the money, he p

ays the county, the county

cont

acts the tax lien certificate investor, and the investor turns in the tax lien certificate issued at

the auction. In exchange for redeeming the tax lien certificate, the inves

tor receives all the

money he/she invested in the tax lien certificate plus the accrued interest. This process is called

redeeming the tax lien certificate. The county where the tax lien certificate was issued handles

the entire process.

In less t

han 5 percent of the cases

in most states

,Jerrycannotcomeupwiththemoney

to pay

the delinquent taxes

.InmoststatesthismeansJerrywillforfeittheentirepropertytothe

investor. After following the legal process required by the

state and

county

,theinvestor

forecloses on Jerry’s legal ownership of the property and

in return for paying all remaining liens,

taxes and penalties due, the investor receives the entire property, often for a fraction of what it

is worth. The period of time that Jerry

has to pay back the delinquent taxes is called the

redemption period, which can range from as short as six months to as long as five years

depending on the state.

Talk about a win/win situation. If Jerry Latepay pays off the tax lie

n, the investor recei

ves his/

her

original investment plus a high interest rate. If Jerry does not pay off the tax lien, the investor

receives the entire property for nothing more than the property taxes due on the property when

Jerry forfeits the property. Are you beginning to

see why tax liens are a great, unknown

investment?

What is a deed? A deed is a document that transfers ownership to property. A tax deed is a

special type of deed resulting from nonpayment of taxes.

In many U.S. states and Canadian provinces, Jerr

yLatepayisgivenmanyopportunitiestopay

his taxes. After multiple warnings, the county puts his property up for sale to investors

,often

for

as little as the taxes, penalties and fees that Jerry owes. At a tax deed auction, the winning

bidder receives

the deed to Jerry’s property. In some cases, Jerry may still have a short time to

redeem

after the sale

;otherwise,theinvestorbecomesthelegalowneroftheproperty.

The investor may have to wait a year or so to obtain a marketable title, but the inv

estor may

have just bought Jerry’s property for a fraction of what it is worth.

Rogue Tax Sale Investor

THREE

What Every Tax Lien/Tax Deed

Investor Should Know

“Knowledge is p

ower.”

–

Francis Bacon

Now that you have a basic underst

anding of what tax liens and tax deeds are, and why they

represent unique investment opportunities, it is time to delve into what you should know before

you invest.

The Benefits of Tax Lien C ertifi cate Investing

We have already discussed some of the b

enefits of tax lien investing. They can be summarized

as follows:

Investment return

:Althoughitvariesfromstatetostate,a16to24percentreturnis

common.

In states like Texas, Georgia, Rhode Island, Delaware and Illinois, if the lien or

deed gets

redeemed early, annual returns of 100 percent or greater are possible.

If the

property owner never pays

the delinquent

taxes, the investor may realize profits well in

excess of 100 percent by receiving the property for only the amount of the property taxes

owed to the county. With interest rates near 50

year lows, tax lien certificates are an

incredible bargain.

Investment risk

:Theinvestmentriskisverylowbecause(1)stateandcounty

governments control the tax lien process, (2) property owners risk

losing their property if

they do not pay their taxes, (3) in most states the investor receives the property if the

delinquent owner does not pay

the back

taxes, and (4) tax lien certificates are not

volatile investments. The value of a tax lien certificat

edoesnotfluctuateandisnot

affected by general economic factors like most other investments. In fact, in most cases,

the worse the economy performs, the greater the number of tax lien certificates will be

issued (more people default on their property

taxes and mortgage when the economy

does poorly).

Investment secrecy

Few people have ever

heard about tax lien certificates. Even fewer

people understand how to invest

in them

.Verylittleinformationisavailableonhowto

invest in tax lien certificate

s. Successful investing is almost always about supply and

demand. In the United States there are thousands of counties that have tax lien

certificate auctions every year. At each auction, hundreds

to thousands

of tax lien

certificates are usually available

.Manystateshavesomanytaxliencertificatesthatyou

can buy the ones that didn’t sell at auction by mail (also called over

the

counter sales or

Rogue Tax Sale Investor

negotiated sales). No one person can cover more than a few counties in a few states per

year. This virtual

ly ensures that for the foreseeable future, the supply of tax lien

certificates will be much greater than the demand.

The Drawbacks of Tax Lien Certificate Investing

The drawbacks of tax lien investing can be summarized as follows:

Liquidity

Tax liens are not liquid investments. In some cases you may have your money

tied up for several years before you get the principal plus interest back.

Complexity

Tax lien laws vary from state to state.

Time

Tax liens require a time commitment to learn

the rules of a state and its counties,

research properties and attend auctions.

The Benefits of Tax Deed Investing

We also have already discussed some of the benefits of tax deed investing. They can be

summarized as follows:

Obtain property ownership

for 50 to 90 percent below market value

Although it varies

from state to state, in certain circumstances you can obtain an entire property for only

the taxes and penalties owed. In many cases, you can obtain properties for 50 to 90

percent below market v

alue.

Investment secrecy

If few people have heard about tax lien certificates, even fewer

people know anything about tax deed sales. When we started researching tax sales, we

found very little information on how to invest in tax lien certificates and

no information on

how to purchase property

at tax deed sales. However, many

states have tax deed sales

and there are more tax deed sales than tax lien sales. The supply of foreclosed

properties almost always exceeds the demand. In the United States there a

re thousands

of counties that have tax deed sales every year. At each auction, hundreds of properties

may be

available. Many states have so many properties that they have foreclosure lists

based on how many years the property has been in foreclosure.

The

Drawbacks of Tax De ed Investing

The drawbacks of tax deed investing can be summarized as follows:

Liquidity

If tax liens certificates are not liquid investments, then tax deeds are even

worse. In some cases you will have your money tied up for several

years before you can

sell the property, because title companies may not issue title insurance on the property

until all liens are cleared and it obvious that clear title can be granted. This process can

take more than a year.

Complexity

Tax deed laws var

yfromstatetostate.

Time

Tax deeds sales require a time commitment to learn the rules of a state and its

counties, research properties and attend auctions.

Risk

Purchasing foreclosed property at a tax deed sale definitely has some risk. You

must

do your homework. Re

member, once you buy a tax deed

you will own the property

Rogue Tax Sale Investor

including all of its potential problems. In addition, title companies sometimes will not

issue title insurance for at least the first year on any property bought at a tax deed s

ale.

This means it could be hard to get a loan until it is clear that everything is

fine

with the

property.

Capital

You definitely will need more capital to buy properties at tax deed sales.

Although it varies from property to property and from state to

state, you

will likely

need a

minimum of $5,000 to $10,000 to

get started in tax deed investing

.Checklocalrulesand

regulations.

Investment Strategies

Once you have decided to consider investing in tax liens or tax deeds, you will need to make

some d

ecisions. Here are the general steps that you will need to take to be prepared to invest.

Identify y our investment objective

Your first step is to decide if your primary objective in investing is to obtain a high investment

return or to obtain property

ownership. This decision will determine in part the state

(s)

you

choose to focus on. States with low tax lien interest rates or states that only have delinquent

property auctions are suited for individuals with the primary objective of obtaining property

ownership. States with high tax lien interest rates are suited for individuals primarily seeking a

high investment return with a secondary objective of obtaining property ownership.

If your focus is to obtain properties at tax deed sales, you will need m

ore capital. Because you

are buying the entire property at tax deed sales, you will need more money and you must pay

careful attention to the condition of the property. At a tax deed sale your potential return could

be greater, but your potential liability

is also greater.

Select a geographical area in which to invest

Next decide what areas you are going to focus on. It is best if you choose the state you live in or

at least a state in the region in which you live. You cannot become an expert in every s

tate or

even every county in a single state. Laws vary between states and even within a state because

each county has its own method of selling tax lien certificates or delinquent properties. In

addition, within each county some areas are usually more desi

rable for investment

than others.

In most cases, less populated counties usually have less competition.

Determining an

area

to focus on is especially important when investing in tax deeds. This is

because you need to become familiar with local real esta

te values, development trends, and

what locals consider undesirable property.

To help you decide where to start, Chapter 9 includes detailed profiles of all the states. Study

this chapter carefully to decide where and how you want to invest. Once you have

chosen

several areas to focus on, you will need to study the areas and become familiar with local real

estate values and development trends. Chapter 4 provides a general summary of how each

state handles tax lien certificates or tax deed sales.

Choose a

type of property in which to invest

You will next want to determine what types of properties you are going to focus your efforts on.

Tax lien certificate and delinquent property sales include raw land, commercial/industrial

properties and residential p

roperties. Generally, raw land and commercial/industrial properties

Rogue Tax Sale Investor

contain the most investment risk and require more expertise. Raw land can sit vacant for years,

and may not have water or roads near it. The pool of possible buyers for raw land also

ually

small. Commercial/industrial properties may have environmental problems; they also typically

require more upfront capital to purchase the tax lien certificate or delinquent property. In

addition, commercial/industrial properties require more expertis

etodeterminetheirpotential

worth and what improvements may be required to make the property suitable for future use.

Residential properties contain the least investment risk and are usually a good choice for

beginning investors. If you own your own

home or have a general knowledge of real estate

values in the areas you are going to focus your efforts on, you already have some knowledge

that will help you understand how to value residential properties that you will bid on.

Decide on a method by w

hich to invest

Your next step is to decide on the primary method by which you want to obtain tax lien

certificates or delinquent properties. If you do not mind attending auctions, plan on attending a

few tax lien certificate or delinquent property aucti

ons to get your feet wet. Counties typically

have one auction per year. If you do not want to attend auctions, you can call the county

tax

collector or

treasurer

to find out

if any properties

that did

not sell during the last auction

are

available “over

counter.”

This can be a good way to get properties if you are patient and

willing to accept the fact that the best properties may be sold at the auction. It is also a

good

way to ensure you do not overpay for the tax lien certificate or property since yo

uwillnothave

bidders driving the interest rate down or the price up.

Other important factors to consider if you want to try and buy without attending an auction are

establishing a relationship with local officials and trying to buy early in the calen

dar year. A

relationship with local officials can help you get information on properties, so that you can make

abetterdecisiononwhethertheavailablepropertiesareworth

your

time and effort to visit and

evaluate. Buying earlier in the calendar year c

an save you money if the property is eventually

awarded to you. This is because smaller penalties and interest are owed at the beginning of the

year; if you are awarded the property, the less you pay up front, the more profit you make.

Evaluate avai

lable properties and determine their market value

When you are bidding at a tax deed sale to take ownership of a property, you need to know a

great deal about the property before you can make a reasonable bid. You must assess the risks

and determine the f

air market value. The county appraiser will already have placed a value on

the property, but that is only a start. When you are dealing with foreclosed properties all the

time, like a county appraiser often does, you tend to become optimistic. A little wat

er damage,

some environmental problems, or legal issues with the title don’t look so bad when you see

See also:

Unseated Land for Tax

es, P.L. 192, No. 113, Section 1

Unseated Lands Selling of For Taxes, P.L. 177, No. 128, Sections 1

–

Lands for Taxes Mode of Selling, P.L. 111, No. 89, Section 1

Lands Being Sold for Non

Payment of Taxes, P.L. 477, No. 502, Sections 1

–

Surplus Bonds

at Tax Sales, Recordation, P.L. 47, No. 32, Sections 1

–

Taxes, Land Taken for Non

Payment of, P.L. 81, No. 53, Section 1

Validating County Taxes, P.L. 580, No. 310, Section 1

Tax Claims, Compromise, P.L. 1018, No. 229, Sections 1

–

Real Estate, Red

emption After Tax Sale, P.L. 1091, No. 356, Sections 1

–

Municipal Property, Tax On,

P.L. 787, No. 213,

Sections 1

–

Authorizing Sale of Realty for Tax Claim Judgment, P.L. 1100, No. 386, Sections 1

–

Validating Sales by County Commissioners, P.L.

390, No. 36 Cl. 69, Sections 1

–

Validating Conveyance by Third Class Cities, P.L. 703, No. 168, Cl. 69, Sections 1

–

Validating Title to Certain Real Estate, P.L. 837, No. 387 Cl. 69, Sections 1

–

Validating Tax Claim Bureau Deeds, P.L. 355, N

o. 119 Cl. 69, Sections 1

–

Sale of Land for Taxes, P.L. 71, No. 43, Section 1

Lands, Sale of For Taxes, P.L. 131, No. 69, Section 1

Rhode Island

General Laws

Title 44

Taxation, Chapter 44

Tax Sales, Sections 44

–

South Carolina

Code of Laws

Title 12

Taxation, Chapter 49

Enforced Collection of Taxes Generally, Article 1

Liens and Suits

Generally, Sections 12

–

Title 12

Taxation, Chapter 51

Alternate Procedure for Collection of Property Taxes, Sections 12

–

170

Title 12

Taxation, Chapter 59

Forfeited Lands, Article 1

General Provisions, Sections 12

–

130

Title 12

Taxation, Chapter 59

Forfeited Lands, Article 3

Title to Lands Forfeited Prior to December

24, 1887 Renounc

ed, Sections 12

310

–

330

South Dakota

Codified Law

Title 10

Taxation, 23

Sale Of Real Property For Taxes And Assessments, Sections 10

–

33; 24

Redemption From Tax Sales, Sections 10

–

17; 25

Tax Deeds, Sections 10

–

44; 26

Scavenger Tax Law, Sections 10

–

Rogue Tax Sale Investor

Tennessee Code

Title 67

Taxes and Licenses, Chapter 5

Property Taxes, Part 25

Tax Lien, Sale of Property,

Sections 67

2501

–

2515

; Part 27

Redemption, Sections 67

2701

–

2706

Texas

Statutes

Title 1

Property Tax Code, Subtitle E

Collections and Delinquency, Chapter 34

Tax Sales and

Redemption, Subchapter A

Tax Sales, Sections 34.01

–

34.08;

Subchapter B

Redemption,

Sections

34.21

–

34.23

Utah Code

Titl

e59

Revenue and Taxation, Chapter 02

Property Tax Act, Sections 59

1338

–

1364

Vermont

Statutes

Title 32

Taxation and Revenue, Chapter 17

Fees and Costs, Section 1674; Chapter 133

Assessment and Collection of Taxes, Sections 4877

–

526

Code of Virginia

Title 58.1

Taxation, Chapter 32

Real Property Tax, Sections 58.1

3340

–

58.1

3345; Chapter 39

Enforcement, Collection, Refunds, Remedies and Review of Local Taxes, Sections 58.1

3965

–

58.1

3965

Revised Code of Washington

Title

Property Taxes, 84.60

Lien of taxes, Sections 84.60.010

–

84.60.070; 84.64

Lien

foreclosure, Sections 84.64.040

–

84.64.215; 84.68

Recovery of taxes paid or property sold for taxes,

Sections 84.68.010

–

84.68.150

West Virginia

Code

Chapter 11

Collection and Enforcement of Property Taxes, Article 2

Delinquency and Methods of

Enforcing Payment, Sections 11A

–

11A

19; Article 3

Sale of Tax Liens and Nonentered,

Escheated and Waste and Unappropriated Lands

, Parts I

III, Sections 11A

–

11A

74; Article 4

Remedies Relating to Tax Sales, Sections 11A

–

11A

Wisconsin

Statutes

Taxation, Chapter 75

Land Sold for Taxes, Sections 75.001

–

75.69

Wyoming

Code

Title 39

Taxation and Revenue, Chapter 13

Ad Valorem Taxatio

n, Section 39

108

Enforcement

Guam Government Code

Title 11

Finance and Taxation, Division 2

Taxes,

Chapter

Real Property Taxes, Article 8

Tax

Sold Property, Sections 24801

–

24828

Virgin Islands Code

Title 33

Taxation and Finance, S

ubtitle 2

Property Taxes, Chapter 89

Levy and Collection of

Taxes, Subchapter III

Attachment and Sale of Property for Nonpayment, Sections 2541

–

2555;

Subchapter IV

Right of Redemption, Sections

2581

–

2584;

Subchapter V

Assignment or Sale and T

ransfer of Tax

Liens/Privatization of Tax Collection Process, Sections

2591

–

2592

Rogue Tax Sale Investor

FIVE

What Can You Expect?

“Eighty percent of success is showing up.”

–

Woody Allen

By now you should

have

aroughideaofhowyoumightwantto

play the tax lien market (read

about investment strategies in Chapter 3).

This chapter

provides a case study of tax lien

investing

,andano

utline of the steps to follow

when investing in tax liens or tax deeds

Tax Lien Investing Case Study

The followin

gtwoexamplesshowtherangeofwhatyoucanexpectfromtaxlieninvesting,and

are intended to help you become prepared for the process.

Example 1

:Over

the

counter sale

After visiting the county and deciding that you are interested in real estate in

the area, you call

the county

tax collector or

treasurer or visit the county website to find out what properties are

still available after last year’s auction. With a little work, you establish a rapport with someone at

the county who is knowledgeable abou

tthepropertiesinordertolearnmoreaboutthelocation

and condition of the properties. One of the properties looks favorable, so you decide to visit it. It

is a residential property. The penalties, taxes and interest owed are $1,804.50, which is withi

your investment range. The state’s interest rate is 16 percent.

Because

the property is not being

bought at auction,

but instead is being sold “over the counter,”

you automatically get the full

state

mandated

interest rate. You send a check to the count

and you receive a tax lien

certificate. After 11 months have gone by, you receive a notice from the county

tax collector or

treasurer that the owner has paid the debt owed and the property has been redeemed. You mail

the tax lien certificate in and you g

et the full amount you invested plus 11 months of interest at

16 percent.

Actual

vent

:Werecently

obtained an over

the

counter list for Marion County, Arkansas. After

reviewing dozens of properties, we found a lake lot listed for $8,000. After further r

esearch we

determined that the lot was worth $15,000 to $20,000, so we made a bid of $9,000. We filled out

abidder

’

sformandsentinthemoney.However,priorto

receiving the deed, the owner

decided to redeem the property and we received our money ba

ck.

In another case, while driving through Colorado we stopped in Castle Rock (Douglas County)

and picked up

the county’s

over

the

counter list. In one afternoon we did the research

necessary to purchase two high quality

tax

liens through the county’s ov

the

county process.

Rogue Tax Sale Investor

Example 2

:Publicauction

You decide to attend a county auction. To learn about what properties are available, you buy a

local newspaper. After checking out the properties, you decide to bid on one of the properties at

the

auction. At the auction, the bidding in this state starts at 18 percent. The first bid is 18

percent. The next bidder bids 12 percent. Finally, you win the bid at 6 percent. According to

state rules you must pay the balance immediately, so you hand a cashi

er’s check to the county

treasurer for the full amount right away. After

the redemption period expires,

you receive a

notice in the mail that the county is foreclosing on the property

(i.e., the owner did not redeem

their taxes)

.Youcelebrate,becauseyou

have likely received the property for pennies on the

dollar. However, you also recognize the complexity of the foreclosure process. You do the smart

thing and hire a local lawyer familiar with the foreclosure process in this area. Like most states,

the fo

reclosure requirements are complex, requiring you to publish a notice of foreclosure in the

local newspaper and appear in court. You have already made a killing on the property. By hiring

alocallawyeryoudonothavetodealwiththejudgeatthecourta

ppearance and you are

confident the paperwork will be done correctly. After the foreclosure process is over, you decide

that you do not want to keep the property, so you put the property up for sale right away.

Because you got the property so cheap, you ca

nputabargainpriceonit,sellitquicklyandstill

make plenty of money.

Actual Event

:JustpriortotheOctobersaleinTravisCounty,Texas,wespentoneday

researching properties in preparation for the sale. One lot located on a cul

sac in an u

pscale

neighborhood caught our attention. The minimum bid was $3,700. Based on a comparative

analysis of other properties, we estimated the value of the lot at $15,000. At the sale, bidding

started at the minimum bid

;afterreachingavalueof$4,5

00 the b

idding stopped and we won

the bid.

In about 30 days, we received the following

Constables Deed on the property:

Rogue Tax Sale Investor

Tax Lien Investing Process

Earlier chapters of this book have touched on the tax lien investing process. Here are the steps

you shoul

dfollow.

Narrow your search

Narrow your search to one or two states and two to three counties per state. You will not have

enough time or knowledge to accomplish much more until you have a lot of experience.

Learn the tax sale specifics

Contact the tr

easurer’s office or the tax collector’s office (the specific department varies from

state to state) for the county you are interested in, or visit the county website, to find the rules

and procedures that govern the county’s tax sales, as well as to find a

list of the properties

available. A few states conduct sales through municipalities, so you will need to contact the

county in these states and find out which municipalities handle the tax sales. Chapter 9 provides

detailed information for over 100 counti

es in the country

.Forlinkstoallthecountywebsites,

vis

tourtaxliencertificateswebsiteat

http://www.tax

lien

certificates.com

and click on the state

you are interested in

Some counties do

not post anything about tax sales on their website. County budgets are not

always sufficient to keep up, and many counties are just starting to become computer and

Internet efficient. You may need to get a copy of the local newspaper to find out about the

properties that are available. Many counties have lists of available properties for sale at

upcoming tax lien auctions or tax deed sales. You can usually download these lists for free or

purchase them for $5 to $50 or more, depending on the county.

You

will need to study the local laws and do some research to get ready. Chapter 4 provides

the

relevant state tax sale laws

.Thesearesometimesdifficulttoread,butdothebestyoucan.You

can also ask the county to tell you what information is important.

Once you are familiar with the

rules, narrow your focus to

fewer than 10

properties.

Arrive early for an auction

If you decide to attend

an auction

,arriveearly.Youwillhavetofilloutpaperwork.

At a tax lien

sale, y

ou will usually be required to

fill out a W

9formforincometaxrep

orting. The image

the following page

shows

the beginning of the form

.Foracopyoftheentireformthatyoucan

fill out, visit the Internal Revenue Service’s website at

http://www.irs.gov/pub/irs

pdf/fw9.pdf

Depending on the rules of the county, you may need a cashier’s check or cash to buy tax liens

or tax deeds. You also

may

have to pay a deposit. Some counties and states require that you

0daysinadvance,sobesuretocheckyourlocalrules.

Chapter 9 provides detailed information regarding auction rules and procedures for many

counties. Read this information to get a feel for what is required and how the process works.

However, before

you go to a sale, make sure you contact the county and find out what the

current procedures are and where you need to show up. Although this book is updated

frequently, things change rapidly in the tax sale business and county websites are constantly

bein

grevised.

You must become an expert in your area and county

to become proficient and avoid unpleasant surprises!

Rogue Tax Sale Investor

Follow the rules after a winning bid

Once you have obtained a tax lien certificate or foreclosed property, follow all the local rules.

Failure to do so could cause your entire effort to be wasted, since you could lose your

investment. This is where knowledge of the local laws becomes very important. Most counties

have strict and often complicated rules on posting notices, foreclosing on p

roperties and

clearing title to the property if foreclosure is necessary. You also

may

have to pay subsequent

property taxes to maintain your lien status. Generally, these rules favor the owner of the

property so that the owner can pay the back taxes and r

etain the property if possible.

At tax lien certificate sales, less than five percent of all properties with delinquent taxes

generally go to foreclosure. However, if a property you own does go to foreclosure, hire an

attorney familiar with the local la

ws to assist you in the foreclosure process. In states selling

foreclosed properties at tax deed sales, be very careful. Here you must research the property

very carefully

and follow the foreclosure process

There are several key points that should be e

mphasized and repeated: (1) if possible, it is wise

for you to establish a friendly relationship with the county employees to get more information

regarding available properties before you waste your time visiting properties that you do not

want, and (2) i

fthepropertygoestoforeclosure,youshouldhirealocalattorneytosettlethe

foreclosure. Do not do it yourself! It is too complicated. Some states will handle the foreclosure

process. Under these circumstances, you may not need a lawyer. However, al

ways err on the

side of caution, especially until you have gone through the process a few times and know what

to expect.

If you decide to keep the property, use your attorney to make sure you have a clear title to the

property and help you legally evict t

he former owners if they are still on the premises. To make

Rogue Tax Sale Investor

sure you are protected against any future claims to the property, your attorney can quiet the

title. To

receive

acourtorderthatwillallowyoutogettheassistanceofthelocalsheriff,if

nec

essary, to remove the former owners, have your attorney file an unlawful detainer action. In

most cases, the property will be vacant by this time and your attorney will only need to assist

you with the foreclosure process and make sure you have clear title

Rogue Tax Sale Investor

SIX

Possible Problems and How to Avoid Them

“Who dares nothing, need hope for nothing.”

–

J.C.F. von Schiller

If you think about it, tax lien certificates and tax deed sales are a symptom of something gone

awry with the p

roperty owner. Usually the reason is plain negligence (someone goes out of town

for an extended period) or a lack of money. When someone has been an owner of the property

for a long time and real estate values in the area suddenly rise due to development,

the tax

burden on a person can double or triple over just 5 or 10 years. Rather than sell the property,

the owner procrastinates on the decision until it gets serious.

It is also possible that the property is not worth the amount of taxes owed. Environm

ental

contamination may have been discovered on or near the property or, after years of negligence,

the structures on the property may be in disarray. The property may be prone to excessive

flooding or have building restrictions. Water rights also might be

issue.

The first step in assessing if there is something truly wrong with the property is to compare the

assessment of the property’s value to similar properties in the area. For every tax lien certificate

or tax deed property, you can find an assessm

ent of the property’s value by a government

agency

(usually the county assessor’s office)

.Ifthisassessedvalueissignificantlylowerthan

similar properties in the area, there is probably a problem with the property.

To avoid possible environmental i

ssues, do not buy properties near industrial areas. Do some

research in advance and talk to locals to ensure the property is not near any hazardous waste

sites. You also

can

go to the county courthouse and look up the property on Sanborn Maps,

which will s

how the historical uses, if any, of the property. Avoid any areas that were previously

used as commercial or industrial sites. In fact, in most cases where you are looking at buying

residential property or raw land, do not buy if the property was ever zone

dforanythingother

than agricultural or residential use.

There are other environmental issues you should consider. Avoid any property near a gas

station. Gas stations almost always contain underground storage tanks that can leak, potentially

contaminat

ing nearby properties. In general, avoid any property with underground storage

tanks. Avoid any property near a dry cleaning facility, which use

solvents to clean garments.

Many of these solvents are cancer causing and highly mobile, potentially contamina

ting other

properties and groundwater. Other potential problems include asbestos (common in commercial

properties more than 20 years old), lead paint (possible in any structures built prior to 1978),

and radon (common in areas with basements built in or on

top of bedrock). If possible, inspect

the property to make sure it is free of debris and does not contain any soil staining, sheens or

seeps. Look for water damage and, if possible, survey the local area for drainage ways to

Rogue Tax Sale Investor

determine if the property has

the potential for flooding. For residential property, the chances of a

serious environmental problem are low. However, that does not mean you should not check for

all of the environmental problems just described. Chapter 10 of

Rogue Real Estate Investor

ovides a more detailed discussion of potential environmental problems.

Another possible problem is that a property owner could declare bankruptcy while you are

holding the tax lien. This will not ultimately affect your investment, because tax lien investo

rs are

secured creditors, meaning that you will get your money

or the property

.However,

receiving

your money

could be delayed while the initial portion of the bankruptcy proceeds. If you think

the property owner is in danger of declaring bankruptcy, and t

he best way to tell is how much is

due relative to the worth of the property, do not bid on the tax lien.

Chapter 11 of

Rogue Real

Estate I nvestor

covers bankruptcy issues in more detail.

If you have any uncertainties about a property, do not buy. There

are always plenty of tax lien

certificates and tax deeds available. Sometimes the best decision is to not get involved.

Rogue Tax Sale Investor

SEVEN

A Practical Fiel d Guide to Investing

in Tax Liens an d Tax Deeds

Lucy: “I never get what I really w ant [f or Chr

istmas].”

Charlie Brown: “What is it you want?”

Lucy: “Real estate.”

–

ACharlieBrownChristmas

,CharlesSchulz

Introduction

attend tax sales nearly every month. This chapter provides a hands

on approach to the art

of investing in tax liens and tax

deeds.

One of the most important steps in investing in tax liens and tax deeds is to evaluate the real

property (land or improvement). Even if you are only investing in tax liens, you should be ready

to take ownership and assume that you could acquire t

he property. Remember, on average,

less than

five

percent of tax liens go to foreclosure or deed.

If you are bidding at a tax deed sale, you are actually bidding on the property. Upon winning the

bid, the property is yours. As is the case with buying a

nything, you need to make sure you get

what you pay for. This includes your time, energy and effort. After all, you can buy real property

through an individual or real estate broker. In fact, if you are not getting a property at a

substantial discount to t

he going rates, then it may not be worth it. There

also

are larger

concerns to consider. In the case of environmental contamination you could get stuck with

thousands, if not millions, of dollars of liability if you’re not careful. Other problems may not b

quite so elaborate, but could result in reducing your return. For example, a land

locked property

could require legal costs to force the adjacent owner(s) to provide you with access.

Knowledge is power, so make sure you are prepared ahead of time.

Ste

ps to Investing

Step 0:

now your goal

sbeforeyouinvest

Why are you investing? Is it for:

Income?

Retirement?

Building a nest egg?

Rogue Tax Sale Investor

Becoming wealthy?

Freedom?

Something to do?

Achallenge?

Why do you need to know?

You need to know because your go

als will influence the type of deeds or liens that you pursue.

For instance, commercial properties may have more risk due to the inherent nature of many

businesses, such as improper waste disposal and urban locations. On the other hand,

commercial properti

es may be lucrative if you understand and can manage the risks. If you are

only trying to receive a decent return on your money and have no intention of taking ownership

of a property, then you will want to orient your investing to tax lien states and prop

erties that will

most likely be redeemed.

Be sure to examine your finances closely enough to understand how your tax lien and tax deed

investing plays into your overall investing plan. Again, think about how much risk you can

handle.

Consider your inves

ting goals in light of the types of properties and locations available. You may

be looking for retirement land. If so, ignore all commercial and residential buildings. You may

only understand real estate values in a particular region, state or county. If t

hat’s the case,

bidding outside of your area of expertise will result in higher risk. On the other hand, your county

may be too competitive or properties may be scarce and this may force you to become an

expert elsewhere.

The point is to know what you wa

nt, whether it is land, interest income from a tax lien, or

foreclosure potential of residential or commercial properties. All of these factors will influence

your potential screening of properties.

Finally, it is highly advisable that you attend at least

one tax lien or tax deed auction with no

intention of buying. Observe the bidding process and even ask questions after the auction is

finished. You will feel much more confident and prepared for your first tax sale.

Step 1: Obtain the list o f p roperties

and register

Delinquent property lists are available by contacting the county and finding out how and where

they list properties. Some states and counties only work with local newspapers. Other counties

publish lists online and even update

the lists

when

properties are redeemed. Some counties will

send you a list, but they usually require a fee. The fee is often fairly nominal; however, in some

counties

in Illinois, the fee can be as high as $500

The best approach is to start with a county website and s

earch for the treasurer’s or tax

collector’s office (see Chapter 9 for detailed county information). If a property list is not available

online, you may need to call the county

The following are

example tax

lien certificate

sale lists

for Nebraska and Col

orado.

Rogue Tax Sale Investor

Many states only conduct tax sales once a year, so be sure to find out when your state or

province is due for its sale. Chapter 9 includes information on the dates of many county sales.

You can also refer to the following web page for upda

ted tax sale dates:

http://www.tax

lien

certificates.com

The county treasurer or tax collector will often be responsible for conducting a tax sale, and can

inform you about the requirements and what

to expect. Spend a few minutes speaking with

someone on the phone, or better yet in person.

Find out what requirements are necessary to bid. You may be required to pay in advance. For

instance, many counties require a money order or cashier’s check for

aminimumamountora

percentage of the amount you plan on bidding. The minimum amount may only

$100 or the

minimum amount listed in the bid listing. The remaining amount will be required upon

successfully winning the bid. If you don’t bid, you will be

reimbursed. Again, check the rules and

see if a personal check is

accepted

.Somecountieswillnotacceptapersonalcheckorcredit

card.

As far as registration, plan ahead. Texas now requires registration in advance and a $10 fee.

Some counties, like Co

conino in Arizona, require an advanced registration of 7 days. Other

counties allow registration even on the day of the bid.

Find out what other requirements are necessary to bid in the state or county. Missouri, for

instance, requires that you live in th

ecountyorhavearepresentativeactasyourliaison.Inthe

latter case, you must have a notarized signature from the representative.

Finally, ask a county representative about the sale itself. Here are some questions that you

might want to know the an

swers to:

Rogue Tax Sale Investor

Is the bidding held by your office or a professional firm?

How quickly does the bidding proceed?

What are the bid increments (e.g., in 1 percent increments or by amounts of $50)?

What happened during the last sale?

How long does the sale last?

wmanypeopleusuallyshowup?

What areas of the county generate the most interest and the least interest, in terms of

bidding

and why?

When are payments due (e.g., at the end of the day, immediately, in 24 hours)?

What happens in the case of ties, as whe

nmorethanonepersonbidszerointerestona

property?

Step 2: Initial screening

Surprisingly enough, an initial screen can be done by looking through the list of properties and

searching for key phrases that might identify where the property is locate

d. An example would

be a legal description that contains descriptions of certain areas that you recognize.

Recommendation

:Beforedoinganyscreening,makesureyoucheckforanyredemptions.

The property list will contain the name of the individual or c

ompany that is the recorded owner, a

legal description,

the amount of taxes

owed and the minimum bid.

Here are two real examples (the names and locations have been altered):

Example 1

43. Smith, Betty A. W½ SW¼

NE¼ SW ¼ 9 6N 5W 5

.00 Acres Parcel #123

456

789

1998 Min Bid: $1040.00 Tax Due: $321.21

Example 2

51. Parcel # 12

3456

789 Needles, John & Bernice, 1116 NW Maple, Kansas City, MO

64164 26

35 Embassy Harbor Edition Lot 33 Blk 5,

2001 taxes owed: $675.25

2002 taxes owed: $711.23

Printing fee: $5

0.00

Total: $1,436.48

Using Example 1, we will take you through everything in the listing so that you understand how

to read the tax sale listings.

The first number is the bid or listing number. This number is used as the bidding number. Most

countie

swillstartwiththelowestnumberandmovetothehighestorlastnumberonthelist.

During the auction, the lowest numbers will go first and the higher numbers later. Consecutive

numbers may be missing if a property owner redeems or pays his

/her

taxes.

Note:

Sometimes

the lower numbers will receive more attention towards the beginning of an

auction and the higher numbers will receive less attention later in the bidding because

individuals are fatigued or they have exceeded their budget.

Rogue Tax Sale Investor

Smith, Betty

The name of the owner is next. This can be significant if you find a landowner or business that

you are confident has gone out of business or is financially distraught. You

also can

look for

multiple properties or lots owned by the same individual,

that you can

scoop

up adjacent

properties. W

hen you are viewing plat maps

you may see other landowners with the same

name, indicating that a relative might live adjacent to or near a foreclosed property. This is

probably not a problem, but you should be

aware of it.

W½ SW¼ NE¼ SW ¼ 9 6N 5W

Next, you will usually see what is referred to as a legal description. The most common legal

description is based upon the Section and Township demarcation, also referred to as the

government rectangular survey. A le

gal description

also

may be in metes and bounds or lots

and blocks.

Alegaldescriptionofrealpropertyisdefinedasamethodoflocatingaparcelusing

an unbiased demarcation that can be used universally to locate real property. The address to a

proper

ty, such as your house, is not considered a legal description. Thus, 1305 Maple Street is

not a legal description for real property.

The system in the U.S. is shown by lines running east, west, north and south in a grid pattern or

checkerboard. Each grid

or square on, for example, a county plat map is one mile by one mile

or 640 acres. There are six grids by six grids or six miles by six miles in a legal township.

Numbers starting from a known baseline and running north to south are called Township (T)

num

bers. Numbers running east to west are called Range (R) numbers. For those of you

counting, the total number of grid cells or sections in a legal plat is 36.

Interestingly, the numbers move from the right to the left, down, then left to right and so on u

ntil

36 sections are numbered. This is because original surveyors had to traverse the land and it

was not practical to return to the starting side. It made much more sense to traverse across, go

down and then go back across.

In our example, the numbers sh

own as 6N and 5W are referred to as Township 6 North (T6N)

and Range 5 West (R5W), respectively. The number 9 located immediately in front of the

township and range numbers is the section number. In our example, it is Section 9.

R5W

T6N

Rogue Tax Sale Investor

Find Section 9 and imagine it enlarged as presented below.

ASectionofLand

(640

cres)

1mileby1mile

NW¼

(40 Acres)

NE¼

NW¼

(40 Acres)

NE¼

(16

0Acres)

SW¼

NW¼

(40 Acres)

SE¼

NW¼

(40 Acres)

NW¼

SW¼

(10

Acres)

NE¼

NW¼

SW¼

(10

Acres)

W½,

NE¼

SW¼

(20

Acres)

E½ NE¼

SW¼

(20

Acres)

W½

SE¼

(80 Acres)

N½, NE¼, SE¼

(20 Acres)

SW¼

NW¼

SW¼

(10

Acres)

SE¼

NW¼

SW¼

(10

Acres)

S½, NE¼, SE¼

(20 Acres)

N½, S½, SW¼ (40 Acres)

W½

SE¼

(20

Acres)

2.5

S½, S½, SW¼ (40 Acres)

Rogue Tax Sale Investor

When you read a legal description, start from

the

right and work

towards the

left. For example,

when looking at the examp

le legal description, start with the southwest quarter of Section 9 and

mark it off.

Section 9

SW¼

Next, find the northeast quarter of that same quarter, or the northeast quarter of the southwest

quarter.

Section 9

NE¼

SW¼

Rogue Tax Sale Investor

Again,

find the southwest quarter of the new quarter you’ve established as shown below, or the

southwest quarter of the northeast quarter of the southwest quarter.

Section 9

SW¼

NE¼

SW¼

Finally, mark off the west half of the newest q

uarter that you’ve established and the location

should be located as shown below. Thus, we have located the west half of the southwest

quarter of the northeast quarter of the southwest quarter of Section 9 in Township 6 North,

Range 5 West.

Section 9

W½ SW¼ NE¼ SW ¼

Rogue Tax Sale Investor

The legal description

shows that the parcel is 5

acres, which corresponds with what we

calculated. Some legal descriptions

also will

include additional measu

rements

such as W150’,

N60’ or a descriptor like “part of.” In many cases, the land will not be portioned off as neatly and

you may be looking for a parcel that is 12.2 acres or 0.83 acres. In the case of lots, you will be

given a leg

al description that o

nly goes as

far as narrowing down the search to a neighborhood

or housing addition.

When developers buy land and partition it off, they usually create housing additions with names

such as Prairie Fields or Pine Ridge Point. Each addition is then divided i

nto lots. An example

would be that your house could be lot 24 of the Prairie Fields Addition. These lots must be

approved and recorded with the city, county or local municipality. Therefore, you will need to do

research with the county to find the lot and

block designation that corresponds to the current

property address.

An example plat map is shown on the following page.

The use of metes and bounds in a legal description involves measurements from a beginning

point, such that you could mark it off and cr

eate a geometric representation of the property

boundary. An example would be “starting at the southwest corner of Main and Highland Street,

running south 150 feet, then running west 340 feet, then running north 150 feet and running

east 340 feet.”

Now, l

et’s get back to our example.

.00 Acres

The acreage will often be shown immediately following the legal description. For your

information, one acre is equal to 43,560 square feet of land or roughly 209 feet by 209 feet. In

metric units, one acre is equa

lto4,047squaremetersorroughly63metersby64meters.

Parcel #123

456

789

In many cases, a property will have a parcel number, which is used by the state or county as a

unique identifier. This number is important to know because it is easier to ask

the county

assessor for information knowing the parcel number.

You

also

will use this number to search for

property information at the county assessor’s office using their computer system, or using the

assessor’s online database if they have one.

1998

ost counties or states will indicate the year(s) the taxes are delinquent. In the case of our

example, taxes are delinquent for the year 1998.

Min Bid: $1040.00 Tax Due: $321.21

Be sure to read carefully the rules for bidding for the state and county. In

some cases, a total

amount will be shown; in other cases, a minimum bid will be shown along with the tax amount

due. Although you may only be required to bid the minimum amount, you still may have to pay

the winning bid amount plus the taxes due and proce

ssing fees.

Rogue Tax Sale Investor

Step

3: Visit th e county assessor

One of the most important steps in evaluating a property is to visit or call the county assessor’s

office. From

our

experience, they are usually helpful and friendly. If you are only interested in

one or

two properties, a phone call is probably

fine

.Ifyouarereallyseriousaboutthistypeof

investing, plan on visiting the county assessor’s office and doing some research.

The assessor’s office will often have a real estate division or a person respons

ible for real

estate. Find out who that

person is. Take along

your list of properties that you

have

narrowed

down

and ask that person

to either show you how to look up informatio

nbyparcelnumber,or

have them

look up

the

properties for you.

In many cases

,thecountyassessor’sdatabasewillbe

online. You may be able to do much of your research from your own computer.

Find out if the property has any improvements (e.g., a building, utilities, landscaping, curbs and

gutte

rs, etc.) or is just land. Also

ind out the assessor’s appraised value for both the land and

any improvements. Note the taxes due and how much you may be required to pay should you

take possession. If the property is located in a development, you may need to look up the

original develope

r’s lot description.

egal descriptions

are not street addresses

,butyouwill

often

be able to find a street address

through the county records. For your purposes a street address is the easiest method of finding

aproperty.

sk the assessor how you

can

obtain

acountyplatmaporplatbooklet.Youwill

need this to do your drive by and locate the property. A street map

also may

be helpful, and can

usually be

purchased

at a local gas station, drug store, or retail department store such as Wal

Mart.

Note:

The county assessor’s office is your friend. If you are wondering why a certain

development has many properties listed, ask around and you may just find out.

Step 4: Visit the property

Nothing tells the whole truth better than visiting a property. What

you thought was a nice

property might be

the next Hollywood backdrop for a horror film

Rogue Tax Sale Investor

On the other hand, a lot that you thought was just another worthless developer’s mistake may

have a breathtaking view and could be considered a hidden gem. Locati

on is everything in real

estate.

Using the plat map or developer’s drawing that you obtained, mark off the location of each

property that you wish to see on the plat map. Next, obtain a county road map (a standard state

road map will not be detailed enoug

h). Again, ask the assessor’s office or the local department

of transportation for information. If you have online access, MapQuest

(

http://www.mapquest.com

)orYahoo!Maps(

htt

p://maps.yahoo.com

)canbeused.Ifyouhave

alaptop

computer

,youcanpurchaseMicrosoftStreetsandTrips

to help you locate properties

Also, be sure to download Google Earth for satellite views.

Finally, if your tax sale list has

addresses, you may b

eabletotakeadvantageofglobalpositioningsystemnavigation.

One other map of importance is the topographic map. A topographic map shows contour lines of

equal elevation, as well as other features like streams, rivers, lakes and some manmade

features

.Bylookingatthetopographicmapofthearea,youcanascertainthelayoftheland.

Closely spaced contour lines represent steep grades, while widely spaced contours depict

gentle slopes or nearly flat terrain.

TopoZone (

http://www.topozone.com

)has

U.S.

Geological Survey (USGS) topographic maps

for the entire United States that you can view online for free. TopoZone provides the following

USGS scales: 1:100,000, 1:63,360, 1:50,000, 1:30,000, 1:25,000, 1:24,000,

and 1:20,000. The

scales are unitless, meaning that 1 inch equals 100,000 inches or 1 centimeter equals 100,000

centimeters.

Let’s get back to visiting your selected properties. During the site visit or drive by, take note of

the following items:

Overh

ead utilities or lack thereof

Underground utilities or lack thereof

Property accessible or landlocked

Adjacent property conditions

Trees, vegetation, landscaping

Soil/subsurface conditions

–

sand, clay, shallow bedrock

Presence of disturbed areas or fill m

aterial

Dead or stressed vegetation

Discolored soil.

Be sure to drive around the area and note any major industries that might affect the real or

perceived value of the property. For example, a nearby landfill, power plant or heavy industrial

area could l

imit the value of the property for residential use.

Next, find similar properties for sale and call the owner or real estate agent/broker and find out

the cost and details. Ask him/her about the area and any problems. Ask about the schools,

crime, nearby

parks, malls and grocery stores.

Note:

When visiting a property that has a dwelling, remember that the current property

owner may still be living there. You will have to show some discretion and not trespass or

loiter in front of the property.

Here are s

ome checklists to help assist you with the drive by. These guides only serve as a

starting point. You will need to use your own judgment and evaluate properties based upon area

and the type of property.

Rogue Tax Sale Investor

Residential Properties

(Houses and Lots)

Parcel Nu

mber and Location

________________________________________

Tax Assessed Value

Descripti on

Value

Land

Improvements

Other

Total

Drive

By Checklist: Residential

Items of

Consideration

Excellent

Good

Fair

Poor

Unknown

Neighbors

Streets

Curbs/Gutters

Location

Fire Department

Near Hospital

Near Park

Near Police

School System

Landscaping

Roof

Exterior/Paint

Porch/Deck/Patio

Structure

Heating/Air

Electricity

Water

Sewer

Cable

Phone

Trash Service

Recreational Value

Property Access

Rogue Tax Sale Investor

Competitive Market Analysis: Residential

Subject Land

Comparable 1

Comparable 2

Comparable 3

Location/Address

Area (square feet)

Bedrooms

Baths

Basement

Garage/Carport

Construction

Lot Size

Age

Listed Price

Selling Price

Remarks

Area Market Conditions:

Estimated Range of Value of Similar Properties:

timated Value of Subject Property:

Drive

By Checklist: Land

Items of

Consideration

Excellent

Good

Fair

Poor

Unknown

Neighbors

Location

Fire Department

Nearby Town

Near Hospital

Near Police

School System

arm

ing

Potential

Mining/Oil Potential

Timber Potential

Natural Resources

Groundwater

Surface Water

Soil

Topography

Erosion

Electricity

Water

Sewer

Cable

Phone

Trash Service

Mineral Value

Recreational Value

Land Access

Rogue Tax Sale Investor

Competitive Market Analysis: Land*

Subject Land

Comparable 1

Comparable 2

Comparable 3

Location/Address

Area (acres)

Lot Size

Resource Value

Listed Price

Selling Price

Remarks

Area Market Conditions:

Estimated Range of Value of Similar Properties:

Estimated Value of Subject Property:

* Market values for land are most easily determined by comparing price per area (usually in terms of

acreage

). Be sure to compare similar property types.

Lots in developed subdivisions will be worth mo

on a price per area basis tha

n large undeveloped tracks of land.

Drive

By Checklist: Commercial or Industrial

Items of

Consideration

Excellent

Good

Fair

Poor

Unknown

Business Neighbors

Location

Fire Department

Nearby Town

Near Hospital

Near Police

Deed Restrictions

Current Owner

Current Tenant(s)

Environmental

Asbestos

Mold

Soil Con

tamination

Stressed Vegetation

Groundwater

Contamination

Surface Water

Contamination

Underground

Storage Tanks

Above Ground

Storage Tanks

Chemicals Stored

Chemicals Used

Radioactive Signs

Groundwater

Surface Water

Soil

Topography

Erosion

Electricity

Water

Sewer

Cable

Rogue Tax Sale Investor

Items of

Consideration

Excellent

Good

Fair

Poor

Unknown

Phone

Trash Service

Mineral Value

Commercial property is often evaluated using the income approach or the replacem

ent value

approach. It is often difficult to find comparable properties. You may need to speak with a

commercial real estate broker or professional appraiser if you are serious about investing in

commercial properties.

Step 5: Check for o ther liens or pro

blems

After you have narrowed your search to the properties or liens that are worthy of consideration,

be sure to visit the county clerk’s office

or recorder’s office

and ask to see a listing of liens on

the properties. Some counties make this process ver

yeasy.Itmayevenbecomputerizedso

that you can search by the property owner’s last name. Other counties are not as sophisticated

and you will have to look through books that list liens by either the property owner’s name or the

name of the individual

and/or company placing the liens.

Oftentimes, the computer system or

lien books will be divided into Grantors and Grantees. Be sure to check under both categories.

Why are you doing this?

If you are purchasing a t

ax lien, then you become a lien

holder

alo

with the state or county.

You are looking for other liens, encumbrances or restrictions that you could be responsible for

paying, or that would limit the value of the property.

In most cases, mortgage liens and mechanic’s liens are erased or extingui

shed through the

process of tax foreclosure. The tax lien generally has superiority. New Mexico’s

and

Pennsylvania’s

state law

may not erase

mortgages and other

liens, so proceed with caution.

IRS liens are not

removed, but the

federal

government has only

120

days to redeem or

lose

its

rights to foreclosure.

County, state or local government assessments are usually not released, and therefore become

the deed holder’s responsibility. An example might be a mandatory assessment for a new sewer

line, dre

dging of a lakefront property, or any number of improvements that the local government

makes to the area.

In addition, be sure to check for deed restrictions on the land or property. In other words, find

out what can or cannot be done with the property.

If it is land, find out what type of improvement

(i.e., home or structure) can be built

cannot be built. If you are looking at commercial

property, find out how the property is zoned.

Finally, it is always a good idea, especially for tax deeds, to dete

rmine if the previous property

owner has filed for bankruptcy. Bankruptcy can slow the tax foreclosure process, leaving many

of the decisions to the court. You could become one of many creditors waiting in line.

Step 6: Check for last minute redemptions

One frustrating aspect to investing in tax liens and tax deeds is that property owners can pay

their property taxes as late as a few minutes before the auction, depending upon the state.

You

may

have dedicated a significant amount of time and research only

to find out that your property

of choice was redeemed.

Rogue Tax Sale Investor

There is really nothing you can do about this except to plan on bidding on at least four to five

properties, knowing that three or four of these properties could be redeemed. For tax deed

auctions,

last minute redemptions are higher (roughly 40 to 50 percent will be redeemed)

because property owners are about to lose their house or land. For tax liens, the rate is lower

(roughly 20 percent).

If you can, make sure you review an updated listing of the

properties the day before the auction.

Some states/counties provide updated lists online. For others, you will just have to call or wait

until the auction starts.

Step 7: Attend the auction

With your wish list of properties in hand, it’s now “show time

.” You should plan on arriving about

30 minutes before the auction starts. This will allow you time to sign in, read the rules, and

check for property listings that have been redeemed (they may be listed on a

dry erase board or

elsewhere). The following

oto

depicts the Travis County public tax deed auction, held at the

Travis County Courthouse in Austin, Texas:

In the case of tax liens and interest rate bids, set a minimum interest rate that you are willing to

receive and stick to it. In states like

rizona

,thewinningbidderwill

the lowest interest

rate. Ev

en though the starting bid is 16

percent, the winning bidder may

accept only

percent

interest

.Thereasonforthisapproachcouldbethatthereisahighlikelihoodthatthe

property

will go to foreclosure and the winning bidder is betting on that. Otherwise, it would

make no sense to bid the interest rate

down to this level, especially considering all of the work

that goes in to preparations.

In Missouri, the winning bidde

at a tax

lien sale

pays the most for the property, so bidding will

proceed above the taxes owed

tisimportanttomakesurethaty

ou are buying the property at

adiscount,incaseitgoestoforeclosure.

Rogue Tax Sale Investor

Note:

Set a maximum property bid or a minimum interest

rate bid ahead of time for each

property. Do not exceed your predetermined bid or you may regret it. Make your bid

reasonable in terms of making a decent return on your money for all of your effort, but also

realize that the very nature of auctions is not

in your favor. Auctions are designed to

encourage you to overspend. Be careful. Avoid the bidding frenzy.

The auction will start with a county or state official reading the rules. Pay close attention to

details, such as the bid increments or how much you

have to increase or decrease your bid. The

official may go over the recently redeemed properties or just note the redeemed properties as

the auction proceeds.

What will you see at an auction?

First, although the room may be full, only about 30 to 40 per

cent of those in attendance will

actually bid. That’s because many people come in pairs or in groups. Others come just to watch.

And others are in too much shock to actually bid.

We have noted a few different types of investors, which are described as fol

lows:

Big

Time Investors

At many auctions, you will notice individuals with deep pockets. They probably represent many

other investors, a bank, or a large institution. In the case of tax liens, these individuals will bid

down to a certain interest rate o

ruptoapredeterminedvalue.InstateslikeArizonawherethe

interest rate is bid down, these investors will set a predetermined mark and not go below it. That

mark may be 6 percent (as in one recent sale) or it could be as low as 1 percent. In most cas

es,

these big

time investors are looking to buy up as many liens as possible, hoping for decent

overall yield or a few properties that are not redeemed. In the case of bidding property values

up, they may even have hired local real estate agents to tell th

em what property will sell for.

Answer to big

time investors:

Avoid highly populated counties near large cities.

Look t

purchase outside of the popular areas, where the big

time investors may not have done their

homework. If you have done your due dilig

ence and you find properties that are valuable

and could likely go to foreclosure, bid down to zero in certain cases.

Local Investors

Every auction brings out a group of individuals who live or work near property being auctioned.

They are very familiar

with the area, and know what is valuable and what is not valuable, at

least from a local perspective. Local investors will usually come to bid on a select group of

properties, if not one or two properties. Usually they are not as concerned about interest r

ates

as they are about acquiring land or nearby property.

Answer to local investors:

You may get in

abiddingwarononeortwoproperties,sobe

prepared with multiple properties or liens. In other words, diversify and don’t fall in love with

only one

property.

ocals will

often

have limited investment capital to work with.

High

Return Investors

High

return investors are

not as con

cerned about interest rates as they are

about acquiring

property. High

return investors will perform research and select

agroupofpropertiesthatare

valuable and that could likely go to foreclosure. In the case of tax deeds, the properties are

already in foreclosure, so these investors are looking for marketable properties in either great

locations or with features that a

re unique enough

to make them easy to sell. High

return

Rogue Tax Sale Investor

investors must do a lot more homework to determine market values as well as to avoid risk from

unforeseen expenses.

Answer to high

return investors:

Most high

return investors will have a limited bud

get. Be

pati

ent and wait until the middle to the

end of the sale if necessary. Some properties will slip

through the cracks or, because of othe

rcircumstances,high

return investors may miss a

bid. Also, be sure to diversify. This group of investors can on

ly research a limited number of

properties. They may have focused on a few areas of the county because of lack of time.

These investor types are a generalization. There will be many different individuals with varying

strategies attending the auctions. Som

ebidderswillimmediatelyannoyyou.Otherbidderswill

show their hand very quickly. At least a few bidders will try to cheat, but usually the auctioneer

or county official will catch on very quickly.

Take notes. This is excellent classroom training. No

te any properties that do not receive a bid.

Another strategy is to not even plan on bidding during the auction, and to research the leftovers

for any gems that slipped through. We have found some valuable properties this way.

Step 8: Purchase the deed or

lien

If you are the winning bidder on a parcel, you will need to be prepared to pay the full bid amount

for the deed or lien plus any fees and outstanding taxes (refer to Chapter 9 for specific state and

county details). County or state officials will ex

plain what you need to do. Some states may

require that you sign an affidavit stating that you are not delinquent on any property taxes.

You will then receive a certificate of purchase

if it’s a tax lien sale

(The following page shows an

example of a ta

xliencertificateissuedafterataxsalein

Clay County,

Missouri.)

If it’s a

tax

deed

sale

,youstillmayhavetowaituntilagraceperiodhaspassed(e.g.,30days)beforeyou

are issued a

eed.

Step 9: Manage your liens and deeds

In the case of ta

xliens,youwillholdontoyourcertificateofpurchaseuntilitisredeemedbythe

property owner. To maintain your lien status, be prepared to pay subsequent years’ taxes.

When your lien is redeemed, the county will provide you with a check for what yo

upaidplus

interest, and sometimes minus a small processing fee.

If the property you hold the lien to is not redeemed during the redemption period, you will then

apply for a

deed

.Afinalnoticemustusuallybesenttothepropertyownerallowinghim/her

certain amount of time (e.g., 90 days)

to redeem

.Callthecountyandfindouttherules

necessary to manage your liens or deeds. For example, you may need to

show

that there are

no other liens on the property.

Many county rules are very strict and yo

uwillneedtoabidebythem.Don’tmissoutonthe

payoff because of lack of planning or management. Keep track of all of your liens or deeds and

the dates to remember.

When a lien is not redeemed during the redemption period, you will likely want to co

ntact a local

attorney. He/she can make sure that all procedures are followed for foreclosure, such as

notification, clearing the title, eviction or other issues. You may be able to do some of this

yourself, but it is best to have it done correctly until y

ou are intimately familiar with the local

process.

Rogue Tax Sale Investor

For deeds, after any grace periods are over you own the deed, but it is generally not free and

clear until a regulatory period has passed. For example, in California there is

one

year period

duri

ng which an interested party (e.g., a previous owner) can challenge the sale. Most states

and counties recommend that no major expenditures be done on the property during this period,

in case the sale is overturned. This does not prevent you from using the

property, renting it,

leasing it with an option to buy, owner financing it or employing many other strategies. It does

result in the title not being free and clear during this period.

Again, it always best to consult with a local attorney on any legal st

rategies if you have any

questions.

Finally, don’t forget to obtain property insurance immediately upon receiving the deed.

Step 10: Sell

If you haven’t already, consult the selling strategies in

Rogue Real Estate Investor

.Thisisreal

estate you now

own, just like your house, rental home, cabin on the lake, or any other type of

real property. A few simple selling strategies can pay off handsomely.

Rogue Tax Sale Investor

EIGHT

Answers to So me of Your

Tax Lien/Tax Deed Questions

“Great things are not done by i

mpulse, but by a series of

small things brought together.”

–

Vincent van Gogh

To find answers to your tax

sale

investing questions, you will need to

become

familiar with the

counties or municipalities where you are going to purchase tax lien certificate

sortaxdeeds.For

example, you will need to know where the tax lien sales are held, how much money you may

need, if the county will take checks,

and

if you need to pre

provides

specific

information

on tax sales for

each state, as well

for

many of the counties. In the meantime,

here are the answers to some of the

most commonly asked questions of

tax

sale

investors.

Frequently A sked Questions

Question 1:

Can anyone buy tax lien certificates?

Answer:

Yes, if you have the money yo

ucanbuythecertificate.Thereareafewexceptionsto

this rule. In many states, if you live in the same state where you are bidding, your own property

taxes must be paid in full before you can bid on other properties. In some cases, especially at

tax d

eed sales, large institutions may be the first allowed bidders.

And

finally

,somestates

require the bidder to have a social security number or federal tax I.D. number.

Question 2:

Will I get ownership of the property?

Answer:

When you are buying tax lie

ncertificates,lessthan

five

percent of all delinquent

property owners foreclose. So it is rare that you will need to foreclose on a tax lien certificate.

However, if you are buying a tax deed, you will be taking possession of the property and you will

et ownership of the property.

Question 3:

Is there a limit on the number of tax lien certificates I can buy?

Answer:

nmostcasesyoucanbuyasmany

certificates

as you can afford. There are a few

counties that set limits, but those are rare.

Questio

n4:

After I buy a tax lien certificate, when do I get my money back plus interest?

Answer:

You will get your money back when the delinquent property owner pays his/her back

taxes. This could take a month or several years.

If the owner does not pay the ba

ck taxes within

Rogue Tax Sale Investor

the redemption period

,youwillnotgetyourmoneybackuntilyouforecloseontheproperty,and

then yo

uwillgettheproperty(versus

your

investment plus interest)

.Theaveragetimetoget

your money back is around six months to a year.

Once the property owner realizes that the

clock is ticking and the final bill is growing, something usually happens. After the property owner

pays the taxes and penalties owed, you will get

check from the county

after

you send your tax

lien certificate b

ack. This is called redeeming your tax lien certificate.

Question 5:

What do I do with the tax lien certificate?

Answer:

Put it in a safe deposit box or somewhere else safe. If you lose your certificate, it can

be a h

assle to get a new one. You would

nee

dtoverifysomeinformationtoproveyouarethe

owner of the certificate. It is better to make sure you do not lose it.

Question 6:

What if I want to own property?

Answer:

If your goal is to ta

ke property ownership, attend tax deed sales

.Lessthan

ive

percent of all tax lien certificates eventually lead to foreclosure.

Question 7:

What happens if the delinquent taxpayer does not pay

the back taxes owed on the

certificate I hold,

and a year goes by?

Answer:

You can purchase another tax lien certifi

cate on the

same

property the next year if you

can pay the back taxes due. Otherwise, another bidder can purchase a tax lien certif

icate on

that

property.

In some states,

your tax lien would then be redeemed by the new tax lien investor.

If foreclosure

wer

eto

occur,

you would both be owners of the property

Question 8:

Can someone else bid for you at the auction?

Answer:

It depends on the state. In some states, you can have someone else act as an agent

for you and bid on properties. In other states, you

must be there in person to bid.

Question 9:

Can I buy tax lien certificates without going to the auction?

Answer:

In many states you can. Tax lien certificates that are not sold at

the public

auction can

often be purchased by mail

(these are normally ca

lled “over

the

counter” or “negotiated” sales

lists)

.Bealittlecarefuldoingthis,especiallyifyou’veneverseentheproperty.

There are also

some counties that are

conducting

online auction

.Bid4Assets(

http

://www.bid4assets.com

)is

one company that handles

online

tax sales for counties.

Question 10:

Can I transfer

tax lien certificate to someone else?

Answer:

nmoststatesyoucantransfer

ataxlien

certificate to anyone you want. There may be

asmal

lfeeinvolved.

The process is called assignment.

Question 11:

What is the best type of property to bid on?

Answer:

In most cases, especially for beginners, it is best to bid on residential property

whether it is improved or unimproved.

Improved land (e

.g., with a house or structure on it) has

less risk than u

nimproved land (vacant land)

.Thelatterismorerisky,

especially in terms of

marketability. Commercial property has more risk than residential property and should only be

considered by experienced

investors.

If you are interested in income from the property, then

improved land

(e.g., with a house you can rent) is your best bet

;however,thecompetitionfor

impro

ved land is usually more fierce and there will be fewer of these properties available.

Rogue Tax Sale Investor

Question 12:

Can you lose money buying tax lien certificates?

Answer:

Investing in tax lien certificates is extremely safe. Government entities (

e.g.,

counties

municipalities

)handlethesalesandliensarebackedbyrealestate,whichhasbeenrelativel

stable in the United States. However, there are

afew

scena

rios where you could lose money.

Here are two examples:

You purchase a tax lien certificate during an auction and the interest rate gets bid down to a

very low amount. Then

the owner of the prop

erty pays their back taxes very quickly and the tax

lien certificate gets redeemed in less than a month after the auction. When you combine the

fees you paid to buy the certificate and travel costs, you could lose some money. You can avoid

this problem if

you do not get involved in a bidding war. If there are a lot of bidders, go to

another sale or wait until the sale is about over and

most people have

gone home. You can also

go to a county

where there is less competition. Another alternative is to buy tax

lien certificates

over the counter, where you will not have any competition.

You did not do your homework and

the property you purchased the tax deed to

has

environmental problems. This situation can be avoided if you focus on residential properties and

make sure you drive by the property before you bid. Many states do not want you to have a bad

experience, so they will often tell you if a property could have problems.

If you are the tax lien

certificate holder for this property, in most cases you will no

thavetoforecloseonthepropertyif

the owner

doesn’t redeem the back taxes.

You

may

simply let the lien expire (you would lose

your original investment, however).

Question 13:

From what I can tell, Fair Market Value (FMV) is

determined by the county

tax

assessor’s

office and

provided for each property

in the tax sale list. Is the FMV just the value

that it should get on the open market, or are any existing liens/mortgages deducted?

Answer:

Fair Market Value is the tax assessor’s determination of wh

at a property is worth.

Depending on how often the appraiser updates the FMV

and how advanced the appraisal

department is, the FMV may or may not represent true value. For example, a house that has

gone into disrepair because of the owner’s neglect could b

eworthless.Ontheotherhand,we

have seen properties that would fetch a much higher price than what the county appraised it at.

It’s a good starting point, but you should do your own research and verify the number. FMV has

nothing to do with mortgages

or liens.

Question 14:

What happens to the original mortgage on the home when you foreclose on it?

Answer:

The mortgage company is like an owner of the property. They receive notification of

the taxes due, and can redeem the taxes to avoid foreclosure.

If the property goes through tax

foreclo

sure (i.e., to deed), you own the property. However, in some states there is a legal period

following foreclosure

during

which the previous owner

(or

mortgage company, lien holder, etc.

)

can

challenge the sale.

Other

wise, tax foreclosure wipes out the mortgage and most

other liens,

except

federal

IRS

liens and

county

or city

assessments. In New Mexico, mortgage liens may

not be extinguished.

In Pennsylvania,

ortgage liens

are not extinguished on properties sold at

eUpsetPriceSale.PropertiesnotsoldattheUpsetPriceSaleareauctionedagain,freeand

ear of liens (including the mor

tgage), at the Judicial Sale.

Question 15:

Will I be able to rent property during the period in which the deed sale can be

legal

ly challenged?

Rogue Tax Sale Investor

Answer:

Yes, you will be able to rent the property as long as you are the legal deed holder.

Question 16:

When can I start the eviction process if the owner does not leave the property?

Answer:

Once you have your deed in hand

and

it ha

sbeenrecordedwiththec

ounty

,youcan

start the eviction process.

Check with the sheriff’s office for more details.

Question 17:

How can I find out how many bedrooms

and

bathrooms the house has or what

the square footage is?

Answer:

This information

is available from the county assessor’s office. The assessor has to

base real estate taxes on the value of the house, which includes

the

number of bedrooms,

square footage, etc. Where we live the county sends out an annual tax appraisal with all of that

formation, including comparisons to other properties.

Question 18:

Once

Iget

the deed to the property, will I be able to tak

out a loan on that house,

or will

Ihavetoclear

the

title

first

Answer:

You generally will need to clear title before yo

an take out a loan.

If there is a legal

challenge period following foreclosure, during which the previous owner or other interested party

can challenge the tax sale, you will normally have to wait for that period to expire before you can

clear title. In Ca

lifornia

,forexample,

the legal challenge period is one year; in Arkansas it is two

years.

Usually counties/states advise that you not make any major improvem

ents to the

property during this

time period.

Question 19:

What is the bidding process

tax li

en sales?

Answer:

In some states you

will be bidding the interest rate down (e.g., Illinois, Arizona). The

person willing to accept the lowest interest rate is the winning bidder. In other states (e.g.,

Missouri), bidding begins at the minimum bid set, a

nd the price is bid up. The winning bidder is

willing to pay the most amount

These two procedures are combined in New Jersey, where

premium bidding (bidding a minimum bid up) begins once the interest rate reaches zero

percent.

Nebraska has

aroundrobinp

rocedure in which the properties are offered to everyone

in turn, and

the bidder can

either accept a property as it comes up or decline it.

Question 20:

Which state has the shortest time period during which owners can redeem their

property?

Answer:

In Ne

vada, the redemption period for tax liens is

120 days for vacant land, but two

years for improved land. Maryland, another tax lien state, has a redemption period that

begins

six

months; an

dinWashingtonD.C.,theredemptionperiodfortaxliensis

also

six

months.

There are several tax lien state

swhoseredemptionperiodsareone

year (see table in Chapter 4

titled “Tax Lien Certificate States”).

Texas

,ataxdeedstatewitharightofredemption,

has a six

month redemption period for most properties.

Question 21:

We are interested in tax deed sales, but only have so much money to invest. We

do not want to wait a year or two to see if an owner is going to

challenge the sale

.Wewere

thinking that if we bought property over the counter from last year's

sale, then a year of the

waiting period has already passed, right?

Answer:

Over

the

counter

tax deed

sales in some states still require the same waiting period

even if the property was not sold at the

public auction

.Inotherwords,the

legal challenge pe

riod

does not start until you buy the deed (e.g., Arkansas).

Rogue Tax Sale Investor

Question 2

Does the tax lien certificate take precedence over the first mortgage?

Answer:

Yes

(except in some states like New Mexico and Pennsylvania)

Question 2

How can I

find out about

any additional pre

existing liens against a

tax

defaulted

property subject to the power of

sale by the county?

Does it usually cost money to do a "lien

search"?

Answer:

You can usually conduct a lien search at the county for free. The information is part

the public record and therefore has to be made available. Visit the county clerk’s office and ask

to see their recorded liens on real property. Every county is a little different. Some will have

computerized information, while others will provide the i

nformation in large legal binders.

Question 24

Are tax liens available in Canada?

Answer:

Tax liens are not offered to investors in Canada.

Canada

offers

tax

deed sales. Most

sales are conducted by

the most populated municipalities of the various provi

nces. In a province

like Alberta, search for information on, for example, the municipalities of Lethbridge and

Edmonton.

Question 2

Do properties usually

get

bid up to

retail

levels

in California, where I live

Answer:

In densely populated counties in

California, p

roperties are

sometimes

bid up to full

retail

value

.Wecan'tunderstandwhy,butifthat'sthecaseyouarebetterofffindingaless

populated area or even bidding in another state. Also, don't forget that you can buy foreclosed

properties

through banks, mortgage companies,

and several federal agencies (e.g., Veterans

Affairs, Housing and Urban Development, Internal Revenue Service).

Question 2

What if there are three or four properties that you are interested in, but

you

can

afford only

one or two? If the

ones that you are less intere

sted in come up for bid first, s

hould

you hold out and wait to bid on the prime property, or bid

the first

property

that comes up?

Answer:

We usually prioritize all the properties we are interested in. S

ometimes it can be a

difficult dilemma. One secret that we have noticed is that the bidding is usually more competitive

toward the beginning of an auction and it tails off a little later in the sale. You may have a better

chance later in the auction than a

tthebeginning.Ofcourse,youneverknowwhattypeof

excitement a particular property will create. You may have to make this judgment on a case

case basis.

Question 2

What should the title search include?

Answer:

You will want to find out about a

ll liens or any other encumbrances that are on a

property. Tax liens take precedence over mortgage liens

(except in some states like New

Mexico and Pennsylvania)

,mechanic’sliensandmanyothers.Taxliensdonottake

precedence over

federal

IRS liens or

special county or government assessments. It is also a

good idea to check and see if the

property owner

has filed for bankruptcy.

Question 28

As a non

U.S. resident (I live in Australia), would I be able to purchase U.S.

government tax lien certificates?

Answer:

Buying tax liens or tax deeds in the U.S. often requires a social security number or a

federal tax I.D. number. One way for nonresidents to work around this is to start a small

business, such as a limited liability company (LLC) and receive a fe

deral tax I.D. number.

Another method is to obtain an Individual Taxpayer Identification Number (ITIN). According to

Rogue Tax Sale Investor

the U.S. Internal Revenue Service, federal law requires individuals with U.S. income, regardless

of immigration status, to pay U.S. taxes.

The ITIN, a nine

digit number that begins with the

number 9, was created for use on tax returns for those taxpayers who do not qualify for a social

security number. The IRS has issued 7 million ITINs since 1996.

For more information, visit

http://www.irs.gov/newsroom/article/0,,id=112728,00.html

Any nonresident or U.S. resident alien who is required to file taxes or who can be claimed as an

exemption or dependent on a tax return, a

nd who does not qualify for a social security number,

can apply for an ITIN. See Publication 501, “Exemptions, Standard Deduction and Filing

Information for Exemption Tests” and Publication 519, “U.S. Tax Guide for Aliens” to determine

resident status.

ou do not need an ITIN if:

you are a U.S. citizen,

you were born in the U.S. and do not have diplomatic immunity,

you have entered the U.S. on a work VISA, or

you are entitled to a federally funded benefit (stipend/fellowship/grant).

You are eligibl

eforanITINif:

you have entered the U.S. on a non

work VISA,

you were born in the U.S. and have diplomatic immunity,

you have applied for and were denied a social security number, or

you are an undocumented alien.

You can obtain ITIN application fo

rms, W

7/W

7SP, through IRS offices worldwide:

800

TAX

FORM (1

800

829

3676)

http://www.irs.gov

Tax Fax Service at 1

703

368

9694

IRS kiosks.

Submit your ITIN forms and supporting documentation to:

IRS Taxpayer

Assistance Centers (TACS),

certain U.S. consular offices abroad,

aCertifiedAcceptanceAgent,or

mail to:

PSPC ITIN Unit

P.O. Box 447

Bensalem, PA 19020

DP N

280

For ITIN Frequently Asked Questions, visit:

http://www.irs.gov/individuals/article/0,,id=96287,00.html

Download Form W

7, Application for IRS ITIN

(see below)

,at

http://www.irs.gov/pub/irs

pdf/fw7.pdf

Rogue Tax Sale Investor

Question 29

Iwouldliketolearnmoreaboutonlinetaxdeedauctions.

Answer:

Most tax deed auctions are not online. You have to physically go to the county or

location of the auction. What we sometimes recommend is to avoid the battles at the auct

ion

and call your local county assessor's office and ask if they have any properties for sale by

closed bid or through what is called "over

the

counter" or "negotiated” sales lists.

You can

usually spend more time researching these properties and feel more

comfortable about your

bid. Many of these properties will not be desirable, but every now and then a gem or two will slip

through.

Several counties in California, Florida, Arizona and a few other states

are starting to offer tax

deeds online. Visit

Bid4A

ssets, a company that conducts online auctions

for many counties

,at

http://www.bid4assets.com

to find out more information.

You can also look at the county profiles

for these (and other) states in Chapter 9 to fi

nd out about their online auctions.

uestion 30

With regards to Texas, your book seems to indicate that it is not a tax lien state,

but rather a tax deed state. However, I'm confused as to how one can earn 25% in six months

by buying tax deeds. Please cl

arify.

Answer:

Texas has a unique process. It is a tax deed state, but

counties

ill offer a redemption

period (two

years for homestead

and agricultural property, and six

months for other property).

the owner redeem

his/her property within this time

period,

the investor receives a flat 25

percent

interest rate, which is in some ways similar to a tax lien certificate. However, if the

property is not redeemed, the investor keeps the deed.

Rogue Tax Sale Investor

Georgia has a similar process. The investor receives a deed with

right of redemption for

one

year. If the property is redeemed, the investor earns

aflat

20% on their investment; otherwise,

the investor keeps the property.

Question 31

IcontactedmylocalCityHallandnooneseemstoknowanythingabouttax

sales.

Answer:

Sometimes it is frustrating trying to find the right person to contact at

amunicipalityor

county

.Wehavecalledmanytimesandhadto

go through

several people before finding

the

right person with information

about tax liens or tax deeds. You

just need to be persistent and

find someone in the

treasurer’s or

tax

collector’s office who deals with real estate.

It is also

important to speak the same language. For example, some states use the term “tax lien

certificates” while others use the term “c

ertificates of purchase.” The county profiles in Chapter 9

can help you here.

Question 32

What is a legal challenge period?

Does

this

mean we cannot

improve or

sell the

property right away?

What happens if the previous owner

successfully

challenges the s

ale? Do

we lose the investment and property?

Answer:

Some

tax deed states have a legal period

following

the sale

during which the previous

owner or other interested party can challenge the sale

For example, in California the legal

challenge period is on

eyear,andinArkansasitistwoyears.

Challenging the sale is usually not

an easy matter. Remember

,theownerandlien

holders

were provided numerous notices prior to

the sale

.Thislegalperiodisaprotectionmechanism.Itwasdesignedtopreventmisha

ps, such

as improper or no notification by the county,

one separated spouse defaulting on a property

without t

he other knowing about it, or an

individual who is in the military and out of the country

defaulting on a property. A sale can also be challenged

if it is not conducted properly and in

accordance with state law.

The legal challenge period

does not stop you from renting the property, leasing it with an option

to buy, selling it by owner financing, or employing many other strategies.

Actually, you ca

nstill

sell the property

to anyone who doesn’t require clear title. Usually the sticking point is the

mortgage company of the buyer.

ounties/states advise that you not make any major

improvem

ents to the property during the legal challenge period

In the

event that a sale is successfully challenged, you will be reimbursed by the county. You

also can fight the challenge, and you

may have as good of a chance at

winning as the

challenging party. Legal advice is necessary at this point.

Question 3

If I buy

aproperty,investsomeofmy

own

money in fixing it up and

then resell it,

what are the tax implications?

What can I deduct for

my expenses

–

time, paint

,advertising,

traveling, etc.? Is rental income taxed?

Answer:

You can deduct any expense that

you incur as a result of owning and operating rental

property. You will need to read up on this and consult an accountant. Basically, you can deduct

mileage (there are two different ways),

as well as

epairs and improvements (t

hese are

different

according

to the IRS).

Cleaning, marketing, office supplies, and books related to your business

can be deducted.

recommend getting a tax book and reading up on the real estate portion.

Rental income is taxable income. However, you can deduct mortgage interest, i

nsurance and

depreciation to offset the income.

Your time is not really deductible unless you set

up a separate

company and have that company bill you (this is a little tricky

so consult an expert).

When you

sell

the property

,youwillhavetoconsiderap

preciation of the property, which is taxed as a

capital gain

and depreciation recovery, which is taxed at your normal income tax rate.

Rogue Tax Sale Investor

Question 3

How and when is the interest applied to tax liens?

Answer:

he interest is applied annually

in most tax l

ien states

Texas and Georgia

(tax deed

states with a right of redemption)

have a flat interest rate of 25

percent and 20 percent,

respectively. In the case of

these

two

states, the investor receives

the full interest

rate

even if

the property taxes are

deemed in one month. Some states

apply a minimum interest rate

(e.g., between 2 and 5 percent) t

oprotectinvestors

in cases where the taxes are redeemed

right away (e.g., two weeks after the sale).

Question 3

Iam

considering

buying

tax

lien certifi

cate (to earn approximately 16 percent

per

year interest) from the county afte

rtheauctioniscompleted.The

sales

list

shows

single

homes that did not pay tax

es for

one or two

years.

Should I

only

buy

lien certificate for

house

that is

one

year late

on its taxes

Answer:

If you are only looking

to earn interest

,thenonestrategyistoavoidtheoldtaxliens

because those properties may go to deed. Properties with only one year’s back taxes

are much

more likely to

redeem

ed, in which case you will

earn your interest.

On the other hand,

if you are hoping the property will

go to deed,

strategy

use is to look for

properties that have been delinquent more than one year

in order to reduce the redemption

period and how long you will have to wait.

For example, i

nArizona

we bid on a few properties

that were

delinquent for

over

one

year, so instead of

having to wait the full three

year

redemption period

,weonlyhave

to wait two years

.InMissouri,propertiesareclassifiedbyhow

long they have been

delinquent, which determines the redemption period. We

recently

bid on

several lots that had been delinquent for more than two years. We will only

have to

wait

the

shorter

day redemption period for these properties

,ratherthan

afull

year. Remember, i

fyou

are looking to acquire properties in this manner, it will require more work in terms of research

and act

ually looking at the properties.

Question 36

Why is

Georgia

especial

ly hard

tax lien state to invest in?

Answer:

In Georgia, you purchase a

ax deed and the owner has a one

year right of

redemption period

(similar to a tax lien certificate)

.Theinterestisa

flat

fee of 20 percent,

regardless of whether the owner redeems in

month or 12 months. If the owner does not

redeem, then you must in

itiate foreclosure. It is important to

obtain

the county’s procedures

for

foreclosure

and follow them strictly. It may even be a good idea to hire an attorney to help you

with the first one. You need to make sure that there are no IRS liens, special county

assessments, deed restrictions, or other fees.

Question 3

In California, what liens are we responsible for after purchasing a tax deed?

Answer:

Here

is the California information that pertains to your question:

Do liens or encumbrances on Tax Sale

properties transfer to the new owner through a Tax sale

property purchase?

Chapter 7, Section 3712 of the California Rev

enue and Taxation Code

states:

The deed conveys title to the purchaser free of all encumbrances of any kind existing

before the sale, ex

cept:

Any lien for installments of taxes and special assessments, which installments will

become payable upon the secured roll after the time of sale.

The lien for taxes or assessments or other rights of any taxing agency

that

does not

consent to the sale

under this chapter.

Liens for special assessments levied upon the property conveyed which were, at the

time of the sale under this chapter, not included in the amount necessary to redeem the

Rogue Tax Sale Investor

tax

defaulted property, and, where a taxing agency

that

collects

its own taxes has

consented to the sale under this chapter, not included in the amount required to redeem

from sale to the taxing agency.

Easements constituting servitude upon or burdens to the property; water rights, the

record title to which is held sep

arately from the title to the property; and restrictions of

record.

Unaccepted, recorded, irrevocable offers of dedication of the property to the public or a

public entity for a public purpose, and recorded options of any taxing agency to purchase

the prop

erty or any interest therein for a public purpose.

Unpaid assessments under the Improvement Bond Act of 1915 (Division 10

[commencing with Section 8500] of the Streets and Highways Code)

that

are not

satisfied as a result of the sale proceeds being applied

pursuant to Chapter 1.3

(commencing with Section 4671) Part 8

,orthatarebeingcollectedthrougha

foreclos

ure

action pursuant to Part 14 (

commencing with Section 8830)

of Division 10 of the Streets

and Highways Code. A sale pursuant to

this chapter sha

ll not nullify, eliminate, or reduce

the amount of a

foreclosure judgment pursuant to Part 14 (commencing with Section

8830) of Division 10 of the Streets and Highways Code.

Any federal Internal Revenue Service liens

that

,pursuanttoprovisionsoffederal

law,

are not discharged by the sale, even though the tax collector has provided proper notice

to the Internal Re

venue Service before that date.

Unpaid special taxes under the Mello

Roos Community Facilities Act of 1982 (Chapter

2.5 [commencing with Sectio

n53311]ofPart1ofDivision2ofTitle5oftheGovernment

Code) that are not satisfied as a result of the sale proceeds being applied pursuant to

Chapter 1.3 (commencing

with Section 4671) of Part 8

,orthatare

being collected

through a foreclosure ac

tion pursuant to Section

53356.1 of the Government Code. A

sale pursuant to this chapter shall

not nullify, eliminate, or reduce the amount of a

foreclosure

judgment pursuant to Section 53356.1 of the Government Code.

Atitlesearchinitiated

at the prosp

ective purchaser’s

expense should reveal any liens or

encumbrances on a property in the tax sale.

Question 38

Investing in a state you don’t live in

seems to b

equiteachallenge.

Are there

ways to invest without traveling?

Answer:

Some states offer “ov

the

counter” sales, which would allow you to purchase liens or

deeds through the mail. These are liens/deeds that were not purchased at the public auction.

Try picking up some over

the

counter lists near where you live and see what is available.

There

re also a few counties in some states that conduct online auctions.

Finally, y

ou can use a tax lien agent or company to help you

invest

.Rightnow,therearenot

many companies

that

will do this.

Question 39:

If you are only investing in residential pro

perty liens, the l

ow dollar amount

presents a problem.

What kind of tax lien investing can you do that involves higher dollar

amounts, like

25,000?

Answer:

You can

employ

afewdifferentstrategies.

Focus on obtaining liens that are likely to

go to deed

or concentrate on tax deed states. That way you can pick

up properties like we do

–

for

50 to 75

percent

below market value.

As far as tax liens

,youwillneedtomakesurethatyoucanbuyenoughpropertiestomakeit

worth you

while. There are li

ens at many sales that are in the $10,000 to $30,000 range, even

for residential properties.

have seen commercial liens for over $500,000, but

buying those

Rogue Tax Sale Investor

involves a little more risk. You can either buy many liens or focus on picking up the more

expens

ive ones.

Question 4

The counties warn that the IRS has the option of redeeming a property in which

they have a recorded lien up to 120 days after the sale at the auction. Is this a lien that would be

found when searching the records of the particular

property, or is it an unkn

own until the 120

days run out? Also, if the IRS

can redeem the property, does that mean the purchaser loses

their money?

Answer:

Federal

IRS

tax

liens will be recorded with the

ounty.

The lien

will appear during a

simple title

search that you can perform yourself at the courthouse or

in some counties

using

an online database.

Afederalt

ien will appear with an

yotherliensontheproperty.

Agood

way to determine if you are looking in the right place is to make sure you ca

nfindthetaxlien

associated with the property.

Any property in a tax sale will ha

ve a tax lien on the property.

you can find the record of the tax lien

the

nanyotherliensshouldberecordedinthesamearea.

Most counties will be happy to assist y

ou in your search for outstanding liens on the property

recommend avoiding any properties with IRS liens. However, you should know that the

government has 120 days to redeem or pay off the tax lien to maintain their interest in the

property.

If that o

ccurred,

you would receive

the amount paid for the property

plus any interest

at 6 percent per annum from the date of the sale, plus expenses of

the

sale that exceed any

income received from the property

Advice from a real estate and/or tax attorney wo

uld be important.

Here is some information from

the IRS:

http://www.irs.gov/businesses/

small/article/0,,id=108339,00.html#Notice

and

http://www.irs.gov/pub/irs

pdf/p783.pdf

Question 41

At a seminar

Iattended

recently,

the

ability to roll

a401

(

)

into a tax lien

investment and still r

etain the tax

deferred status

was mentioned

Any idea how that is done?

Answer:

You cannot roll

over a 401

(

)

that you are currently participating in with an employer.

However, y

ou can roll over a 401(k) fro

mapreviousemployerintoaself

directed IRA

or solo

401(k)

and invest in tax liens, tax deeds, real estate, mortgage notes and any

other

type of real

estate. A few restrictions apply. You will need to contact a company that actually sets up true

self

rected IRAs. For a list

of these companies

see Chapter 12

Rogue Real Estate Investor

also

can

roll

over an IRA

(traditional or Roth) to a true self

directed IRA. Be aware that you

will have more freedom, but the fees will be higher and unless you

set

up an LLC to work with

your IRA, you will not have enough flexi

bility to make quick purchases. Visit

http://www.selfdirectediraaccounts.com

for more information.

Question 42

Polk County, Iow

sthe"

Real Estate Regular Sale" a sale of tax liens

that

did

not get purchased

at the

public

auction, or

is this a

tax deed sale?

Answer:

The real estate regular sale

,whichisheldonthethirdMondayinJune,

is the

sale of

new tax lien properties.

Immediately following

that sale, the real estate public bidder sale is

held. This is the sale of

properties

lef

toverfromlastyear'srealestateregular

sale.

On the same

day a

fter those two sales,

the county also conducts

mobile home regular and mobile

home

public bidder sales.

Finally, the

county

conducts an

adjourned tax

lien sale on that day.

This is a

smaller list of liens that have been held over or suspended for some reason and brought back

up for sale.

The

property lists are

advertised in May.

uestion 43

Iplantopurchasetaxliensinaspecificcountyinthenearfutureandhavebeen

analyzing the

list of properties available.

The list can be divided

into at least two categories.

One

list

would be those properties

that

are owned by someone ot

her than the current tenants of the

Rogue Tax Sale Investor

house.

The second

list would be those

properties

that

ecurrentlyhousingtheowner.

What is

your

opinion about which type of property is more likely

to have the taxes redeemed?

Answer:

It is har

dtoknowforsure.So

metimes

acompanywillbemorelikelytodefault

especially if they own many properties that show up on a tax sale list. For example, you might

see XYZ, LLC on many different liens. This could indicate that the company is struggling and

may let the proper

ties go. This is especially true for developers and sometimes real estate

investing companies that got a little too ambitious.

As you can imagine, nice houses owned by individuals are probably the least likely to go to

foreclosure. That makes sense becau

se no one wants to lose his/her house. On the other hand,

sometimes land owned by individuals will go to foreclosure.

You may be able to get additional information that helps you decide by

befriending someone

knowledgeable at the county.

Question 4

it possible to in

vest in a

tax

lien for its interest

bearing qualities without the

"risk" of becoming a property owner?

Answer:

For true tax lien certificates, you do not have

foreclose on the lien; however, your

certificate would eventually expire

and you would lo

se any money that you invested. Your best

bet is to focus on tax liens that are held on residential houses in above

average neighborhoods.

Question 45

Do you recommend investing in less tha

ideal neig

hborhoods

Answer:

It is possible to

invest in less than ideal locations.

Often

the best deals are in those

areas. However, you need to be careful.

You need to r

ealize that

you may have trouble selling

the property or you may have to price the property

at a discount

;therefore,

don't pay any

thing

close to retail or market value.

Question 46

hat is title insurance? Can you get title insurance after you have purchased a

property from a deed sale?

Answer:

Title insurance is a protection against finding any liens, clouds, encumbrances or

prob

lems with the title or deed.

ost m

ortgage companies will require title insurance

for a buyer

to obtain a loan. In some states like California, you will have to wait until the

legal

challenge

period

following the tax sale

is over

before you can clear title

.Inotherstates

without a legal

challenge period, you w

on’t have to wait. During the legal challenge period,

the previous owner

or anyone with an interest in the property can bring suit to challenge the sale. To obtain title

insurance, contact a title co

mpany (e.g., Chicago Title) or hire an attorney to take care of it. You

do not have to have title insurance to sell

aproperty,butyouwillneedtheinsurance

if the buyer

has to obtain a mortgage.

In most cases, the deed that you purcha

se at a tax sale

will not be a g

eneral

arranty

eed.

You will usually purchase a tax deed, sheriff’s deed, limited warranty deed or some form of deed

that only provides guarantees

since

time the

ounty has owned the property

.Aquit

claim

deed provide

snoguarantees

of any kind. A general warranty d

eed provides the most protection

for a buyer and as such many buyers and lenders will require it.

ou will need to perform a quiet

title action

clear the title

.Thisisusuallydonebyanattorneyanditwillgiveyoua

marketable title.

Question 47

Is it possible to make money by purchasing over

the

counter properties?

What

states offer these?

Rogue Tax Sale Investor

Answer:

ou can make money purchasing over

the

counter properties

,butyouhavetobe

careful. It is better to see the pr

operty an

dareabeforeinvesting.O

ver

the

unter properties

are

usually

left

over from the public auctions

.Thatmeansthatinmanycasestheywerenot

purchased for some reason. It could be that the lien amount was so low that investors were not

interes

ted. It could mean that the property has a problem, which makes it useless. An example

would be a strip of land that can’t be built upon or

that has

an easement. It could also mean that

not enough investors attended the sale and the leftovers are truly wor

thy of consideration. You

will have to judge this on a case

case basis.

Arizona and Florida

are great places to begin investing in over

the

counter properties

.These

states offer both over

the

counter tax liens and over

the

counter tax deeds.

Texas

properties

left over from the tax deed sales are placed on “struck off”

lists.

There are several states that

offer

over

the

counter liens, including

Nebraska, New Jersey, Iowa

and Alabama. Wyoming offers over

the

counter liens, but

because

all

liens are

normally

purchased during the

annual tax sale

s, there

usually

are no properties

left over.

Several

other

states offer over

the

counter

tax

deeds.

For example,

Arkansas

has

over

the

counter tax deeds th

at are called negotiated sales, and

Alaska

offers

ove

the

counter

properties

along

with possible financing.

This i

snotacompletelist

of all

over

the

counter possibilities

.Youshould

refer to

the

state

specific

information in Chapter 9

for additional details.

Question 48

Irecently

attended

aseminar

where it was

stated it is impossible to find the

names, addresses and phone numbers for the county officials and

that you need this

information

to invest at tax sales

.Isthistrue

Answer:

You can usually

find the names, addresses and phone numbers of c

ounty officials

simply by visiting the county websites, although some counties do make the information more

accessible than others

.Weprovide

contact information for many counties in Chapter 9.

For

counties that are not addressed in

this

book,

visit our t

ax lien certificates website at

http://www.tax

lien

certificates.com

and click on the state and

then the

county that you are

inte

rested in. Once you are on the c

ounty’s main website,

look for a link to

“Departments” or

“Elected Officials” or “Services,” for example, and you will be able to find the office of the tax

collector or treasurer (or similar department).

Most

county

websites

provide

phone numbers and

other contact information.

Question

you start earning interest on

tax

liens immediately after purchasing th

Answer:

You

will

start earning interest immediately after purchasing

ataxlien

,butyoudon’t

actually get your money until the certificate is redeemed. The redemption period is t

period

during

which the owner can redeem the property. If the redemption period expires, you

have the

option of foreclosing on the property.

Question 50

Utah doesn't sell tax liens, only tax deeds. Are they the

same?

Answer:

hey are not the same

winning bidder at a public auction in a tax deed

tate takes

possession of the property.

In tax lien s

tates (

e.g.,

Arizona), a county places a lien on a property for the amount of taxes

that are owed. A winning bidder at a public auction on the tax lien c

ertificate is only buying

the

debt on the property that is secured by the real estate. If the property owner pays the delinquent

property taxes (plus interest, etc.) within the redemption period, the investor receives his

/her

Rogue Tax Sale Investor

money back for the lien purcha

sed plus interest. If the property owner does not redeem the

property during that period, the holder of the tax lien certificate has the right to initiate

foreclosure and then take possession of the property.

Question 5

Ihavebeenresearchingtaxfore

closed properties in Brevard County, Florida.

this poin

tIhavealreadydisregarded60percent

of the properties listed

and informat

ion on the

first 8 to 10

properties that I have been checking indicate that almost all of them seem to have

rious prob

lems. Is this consiste

nt with your experience?

Answer:

As you can imagine, you will find many undesirable properties on a tax sale list. I

would say that about 50 to 75 percent of the properties will fall into that category, especially if

you are talking

about a tax deed sale.

Question 52

IliveinMassachusetts

and

am interested in purchasing tax liens.

Inoticedforthe

ity of Boston

that

there is information

on their website about purchasing municipal lien

ertificates. Is a

municipal lien c

ertifica

the same as a tax lien c

ertificate?

Answer:

AMunicipalLienCertificateisissuedbythetowntreasurerandstatestheamountof

property taxes that are assessed against a particular piece of property. Whenever someone

buys property or refinances,

aMunicipalLienCertificateisroutinelyrecordedalongwiththenew

deed or mortgage. By recording a Municipal Lien Certificate, the property owner's liability for

unpaid taxes is limited to those listed on the certificate. If the town discovers afterw

ards that

more taxes are owed, the new property owner is not liable for them.

Question 53

How much time would I need

to research two to four

pro

perties for possible

purchase at a tax lien sale

Which is more important: doing

drive by of the propert

es or

researching the properties at the tax assessor’s office?

Iwanttospendenoughtimetomakea

good purchase, but I also wonder

if it is necessary to look into all of the properties

when

about

95 percent of the tax liens are

redeemed anyway

Ilivei

nPolkCounty,Iowa.

Answer:

At tax lien sales

in Iowa

,thecountyrandomlyselects

abidder’s

number, who then has

the choice of bid

ding on the property or passing

.Tomakemattersworse,Iowahasasystemin

which bidders can bid on the percentage of th

epropertytheywillownshoulditgotodeed.

Nebraska’s system is similar

to Iowa’s round robin process. The round robin bidding

makes it

difficult to plan ahead and do your research because you don’t know which properties you will

be allowed to bid on.

highly recommend spending at least half a da

at the tax assessor’s office,

research

ing

many properties as you can, especially the more expensive properties that you would consider

bidding on. Go through the list and mark off any that are not good

candidates based upon

location, price or other unusual circumstances such as land that is too small to build on.

What

have done in the past is to ignore properties under a certain value, such as anything

below

$300. That is because

counties will

often

charge a fee for the certificate, usually around

$10. If you

buy

a$100lienat24percentinterest

and the interest is compounded daily

,that’s

roughly .07 percent

per day. What you want to avoid is purchasing a lien and then having

meone redeem within

afewdays.Youwillmake

afewcents

each

day worth of interest

,and

you will

still have to pay the certificate fee. At that rate a $100 lien would take about 5 months to

break even. If you are familiar with buying stocks and paying a brokerage fee, it i

ssimilar.

Therefore, f

rom an interest rate perspective it is better to bid on more expensive liens.

Now having said that, you may see a few liens that are interesting from the perspective of

possible foreclosure. For example, you might see a landowner o

rbusinessthathasmany

Rogue Tax Sale Investor

properties listed

resulting in thousands of dollars of tax burden. It is possible they may not

redeem and you could pick up a property for pennies on the dollar.

fyoudonothavetimetoresearchalloftheliens,youmay

not

want to

bid on any tax liens that

are over a certain amount of taxes owed. This is to avoid the

risk of

holding an expensive lien

on a property that is not redeemed and goes to foreclosure, and which you learn (because you

did not research the lien up fron

t) has a problem such as environmental contamination. In this

case

you could always let the tax lien expire without initiating foreclosure.

However, y

ou would

lose whatever you paid for the tax lien.

Also, remember that the list you are looking at will

be reduced by the time the auction is held

because some property owners will redeem at the last possible moment.

Question 5

In Texas,

when

can you take control of a property

you bought at a tax deed sale?

Answer:

ccording to Texas law, you can take p

ossession of the property once the deed that

you purchased is recorded. E

ven though the property owner has

arightofredemptionperiod

(six

months for most properties;

two

years for homestead or agricultural properties), you are

legally the owner of the d

eed/property. Knowing that the owner has a right of redemption

would not make sense to spend any money on improvements to the property unless they are

done

to prevent further damage, such as fixing a leaking roof.

Question 55

Regarding self

directed

IRAs, my

concern is

that

if I set up a

LLC and use my

current IRA for the

down payment

on the LLC

,IamassumingthattheLLCisnowmyretirement

account. What happens to the positive cash flow and the excess depreciation that I would

normally be

allowe

deduct from

my personal income

tax

If I can't distribute the positive

cash

from my real estate investments

except back into the LLC

and can't take the excess

depreciation yearly on my taxes, then isn't this a bad idea?

Answer:

not a bad idea.

It is ju

st like many investment choices:

there are pros and cons.

On the positive side, you will never have to pay capital gains taxes on a self

directed Roth IRA

or t

he taxes will be deferred

with

atraditionalIRA.

Remember, real esta

te depreciation

is a double

edged sword. Outside of an IRA, it is used to

offset income. However, you will have to pay it back when you sell the property and you will be

taxed at your standard income tax rate, which is likely higher than a capital gains rate.

Under

the um

brella of an IRA, you will not need to depreciate the property because any income will not

be taxed.

Our experience is that you will probably end up having real estate investments both in IRAs and

outside IRAs

because there are limits on your yearly IRA

contri

bution. Also, if this is a full

time

business, you may want to use

your

cash flow to live on.

recommend speaking with one of the IRA custodians

listed in Chapter 12

Rogue Real

Estate I nvestor

an attorney and/or

acertifiedpublicaccountan

who has actually heard of

investing in real estate through a self

directed IRA.

The requirements are a little tricky

you

should

use caution.

Question 56

If a

friend

and I want to invest

in tax liens and deeds

as a partnership

do we have

to legally

get established as a partnership and have it documented? If so, what steps do we

need to take?

Answer:

You generally do not have to become a legal partnership; however, it is a good idea to

establish a contract between you and your partn

er. Setting up a

company

such as an LLC would

Rogue Tax Sale Investor

help protect you and your partner’s personal assets. It would also be easier to purchase assets

using a company name and a company tax I.D. number than

to use separate social security

numbers for

two individuals. Check with an

attorney or accountant for more information.

Question 57

Our goal is to

own property, sell it at a profit or rent it

out for recurring income. I

we have a limited amount of money now, say $20,000,

where do you suggest we

invest

it:

liens,

deeds or over

the

counter

liens?

Answer:

Tax liens work best for people who are looking for a stable interest rate and a decent

return. If you are trying to build wealth, you may want to look into

mortgage

foreclosures, rental

properties or tax deeds. Check with banks

or mortgage companies for foreclosure listings. Ta

to a real estate agent for Veterans Affairs (VA) and Housing and Urban Development (HUD)

listings. Seller

financed houses

,whichyou

can purchase for very little

money

down, can help

you build net worth

and,

if you are careful

,can

result in positive cash flow each month. Tax

deeds are nice in that you can

pick up property for a substantial discount; however, you may

have to wait a certain amount of time before you can get clear title.

Question 58

Is t

here any way to determine if a property has a structure on it

(e.g.

house

commercial

building)

from just the legal description tha

tthecountyprovides?

Answer:

No. You will have to contact the county assessor to find out if the property has an

impr

ove

ment on it.

Occasionally

the tax c

ollector will

be able to

provide that information

Question 59

Ilivein

Palm Beach County

in Florida,

which

has some of the wealthiest property

owners in the nation

.Therefore,

property

tax liens are commonly $10,000

to $

20,000 or more.

Often the bidders are bidding

these properties down to .25 percent

–

yes,

that’s a period

in front

of the 25.

What is the purpose of this bidding strategy and why would anyone tie up their money

for such a low return and a very small c

hance of owning these properties?

What is the

foreclosure process in Florida?

Answer:

Florida law

guarantees tax lien investors

amini

mum interest rate of 5 percent

except

when an interest rate is bid down to zero. Therefore,

even though

an interest rat

eisbid

own to

.25 percent, the investor is

guaranteed 5 percent

.Forsomelargeinstitutionalinvestors,that

may be enough to make mo

ney, especially if the lien gets redeemed early. Earning a 5 percent

return in one month works out to an annual return

of 60 percent.

In Florida

,thetaxlienholderstillhastotakethelien

to a tax deed sale

if the property taxes are

not redeemed,

and

that person could be outbid by someone else for the tax deed

.Forexample,

let’s say

you buy 30 liens at a tax sale an

dallofthemareredeemedexceptone.Thatonelien

could be a valuable piece of property. After the required time has passed, you now apply for a

tax deed. The property will go to a tax deed sale and you will probably

attend because you know

about the pr

operty.

Other investors will

also be at the sale,

and you will have to bid against

them. If someone outbids you, you will receive your money back plus interest

as the tax lien

holder, but the winning bidder

will take possession of the property. If no one e

lse bids, you can

take possession

of the property

by default.

Question 60

How do we find

county

tax sale l

ists?

Answer:

Chapter 9 provides information on tax sales in many counties, including links to tax

sale lists

online or contact information for req

uesting a list

.Ifthereisacountyyouareinterested

in that’s not covered in the chapter, v

isit our tax lien certificates website at

http://www.tax

lien

cer

tificates.com

.Clickonthelinkforthestateyouareinterestedin.Onceyouareonthes

tate

page,

click on the link for the county you are interested in

.Youwill

be taken to a page

on the

National Association of Counties’ website with information on

that county. From that page, click

Rogue Tax Sale Investor

on the link to the county’s website

.Everysiteisdifferent,butlookforalinkto

“Departments,”

“Elected Officials,” or “Services,” for example

to find the office of the tax c

ollector or

treasurer

(or similar office)

.Onceyoufindthatpage

look for

any

information

regarding

“tax defaulted

property,” “tax sales,” etc.

Some counties will not publish their lists

online

.You

may

have to call and

ask how you can

obtain the list. In some cases, the county will

mail you

the list for

afee.

Often the county only

publish

the list in the local newspaper

In that case, a

sk for the name of the newspaper and

their

phone number.

You can then c

all the

news

paper and

request that they

send you the issue

containing the tax sale l

ist.

Question 61

How do I protect myself from making a bad investment at a

tax d

eed sale

?Iplan

visit the county to

research

any liens against the property, and to

talk with a local realtor.

think a title search would be

good

,butcostly.

What abou

thavingapropertyinspectiondone?

Answer:

For tax deed sales, make sure you know the area and property values. Check with the

county as

sessor and see what they have the property

appraised at. They are usually a good

judge of values because they want th

eir tax money.

You can search for liens and assessments

with the county

–

it is public information that is free

Do a drive by

of the property

and make sure

you understand the location, neighbors, etc.

You cannot access the property until it is yours

ou won’t be able to

walk the property or

go inside a house.

If it is land, check and see whether

it can be built on,

where the

nearest utilities

are

,etc.Makesurethereisno

site or off

site

contamination

ake sure the property is marketable

–

in ot

her words, can you sell it?

You will find that

is too costly to perform a title search on every property that you are think

ing

about bidding on. You will

usually

need to bid on several properties before the right one comes

along at the right price.

Or a

property you are interested in

could get in a bidding war and

become to

expensive for you to bid on.

Question 6

Ibuy

tax deed

is there still a period during which the t

axpayer can redeem

the property and get his property back?

seems like

much risk to

buy

into tax deeds if this

is so.

Answer:

When you purchase a tax deed, you are the owner. In

some states like

Texas and

Georgia, the properties can be redeemed through a right of redemption process

.Ifredemption

occurs

,youwould

receive

aflat

interest rate

on your investment

(25 percent and 20 percent,

respectively)

similar to a tax lien. In most other tax deed states, you own the property and it

cannot be redeemed. In a few states, a

legal

challenge period exists primarily for gross

istakes in the sale process

.InCalifornia,forexample,thechallengeperiodisoneyear;in

Arkansas it is two years.

To challenge a sale, the previous owner or entity with an interest

in the

property

must show that the sale was not proper or that they w

ere not notified, etc. This is a

legal process, usually involving an attorney and the court. During the challenge period most

states

/counties

recommend that you do not make any major improvements. If the sale is

challenged, that does not mean that you auto

matically lose

–

your chances may be just as good

at winning. If you are forced to relinquish a property, you are entitled to what you paid for it.

Question 6

How does competitive bidding work at a tax lien sale?

Answer:

Every state is different. In Florida and Arizona, you bid the interest rate down

,starting

at the state

mandated interest rate

The winning bidd

er is the person willing to take the lowest

interest rate.

In Missouri and Indiana, you bid

the p

rice of the property, starting at the county

set minimum bid. The winning bidder is the person willing to pay the most.

Iowa and Nebraska

have a round

robin

process where the interest rate is held constant, but you can only bid on the

properties that come up when your turn is called.

Rogue Tax Sale Investor

Question 6

We have been looking at the San Bernardino

ounty

(California)

tax

deed sale,

and have seen many plots of land a

vailable. What should we know about investing in land?

Also, i

sittypicaltoseebids

that

end up being much

higher

than

the

assessed values?

Answer:

Land can be a great thing to invest in,

but

make sure it is marketable. Call a real

estate agent and se

ewhatlandsellsforinthearea.Findlandthatisinaniceareaorby

somethin

gthatwouldmakeitvaluable.L

ook for land near a lake, river, mountainside, golf

course, nice neighborhood, etc.

In other words, if

you buy land make sure there is a reaso

nthat

someone else will want to buy it from you.

In some parts of the country (California is one of them)

properties are being bid up to insane

levels. Don’t get caught up in this. If the prices are too high, don’t buy. There are other sales

and other s

tates where you can find better deals. These buyers are speculators. Not too long

ago

these same

people

were buying Internet stocks at prices beyond reason.

Because

you live in California you might have a hard time finding good values.

recommend

testi

ng a few areas and attend

ing

at least one or two

public auctions

.IfyoudecideCaliforniais

not a good place right now, try Arizona or Nevada.

epatient.Youwillhavetoattendseveral

sales

in order to find

an area and a way of investing that works be

st for you. When you do, you

will be more than happy.

In California

there is a

one

year r

egulatory challenge period that will have to occur before you

can clear title.

tisalsoagoodideatoholdproperty

for

one

year to reduce your taxes.

Question 6

In cases where

tax lien bidding

starts

at taxes

owed plus

es, penalties and

interest, is th

einterestpaidtothetaxlien

holder

determined on this amount or

only on

the taxes

owed?

Answer:

You earn interest on the total amount that you pay

at the sa

,whichprobablyincludes

taxes owed and fees assessed by the county.

often

will

have to pay a certificate fee

(roughly $10), which you

will not earn interest on. Not all states require this fee, which can vary

in amount.

Question

If I purchase

ataxdeedandtheownerisstillontheproperty,doIhavetoevict

him

/her

at my own cost?

Answer:

You usually

will

be responsible for evictio

n. Contact an attorney and the s

heriff’s office

and make sure everything is done correctly.

Question 6

Iam

looking at tax lien certificates in Maricopa County, Arizona

,and

have

the

following questions.

Some properties have liens dating

back to 198x, and have many liens

opened. Wouldn't the county ask for a foreclosure on those properties?

Most of the properti

are vacant land,

while

some

are

commercial properties.

Isawafewpropertiesownedby

churches. Are there any special factors I should watch out for if I want to purchase the

tax

lien

certificates for these properties?

Answer:

The county won't ask for

aforeclosurenormally.Theyjustwantthetaxmoney.You

should know that liens that are that old and have not been purchased are usually not worth

anything and should be looked at with much skepticism. On the positive side, if you do find a

decent lien

and it is over

three

years old, you should be able to purchase it and take it to

foreclosure if you wish.

Make sure you researc

hurch properties just like

you would any other property. We are

not

aware of any special concerns related to church propertie

Rogue Tax Sale Investor

Question 68

What

county

offices

are supposed to know about purchasing tax deeds

or liens

location of a

uctions, specific process, etc.?

Answer:

Tax sales are usually handled by the tax c

ollector’s office. Some states handle it

through the

reasurer’s

office and in some locations the

heriff’s office actually handles

everything. In Florida,

tax liens are handled by the tax c

ollector,

while tax deeds are handled by

the clerk of the c

ourt

In Arizona, tax liens are handled by the

treasurer, and

tax deeds

are

handled by the Board of Supervisors.

Start with the tax c

ollector’s office if the county or

municipality has one

.Theycandirectyoutotheappropriateofficeiftheydon’thandlethesales.

Question 69

Ihavebeen

researching

tax deed sales for t

he past

seven

month

s, and

have

decided

to start in

Georgia

.Whatdo

need to be aware of?

Answer:

Make sure you pay the next year’s taxes so another tax sale investor doesn’t purchase

adeedonthesameproperty.Georgia’srulesarefairlycomplex.You

will have to do a lot of

work to foreclose, such as contacting the

heriff’s office and advertising. It is a good idea to

speak with an attorney to help you with the process until

you are comfortable. Of course, you

will only have to go through foreclosure

if the property owner does not redeem

If the property

owner does redeem, you will have to issue a quit claim deed to transfer title back.

Question 7

How can we determine if the property owner has filed for bankruptcy?

Answer:

As far as bankruptcy

concerned, you can never be 100 percent

sure. A homeowner

could file for bankruptcy during the redemption period. If a bankruptcy is filed, y

ou will

receive

information from the court

along with

every

other

creditor

.You

will likely receive your money

back

,butitcould

tied up for a while.

Question 7

Suppose I hold

ataxlienona

property

in Florida, and

ahurricaneblowsthe

house

away. D

oIstillhave

guarantee on my lien?

Answer:

This is a good question

Even if the house blows away, you will

still have a lien on the

real estate, which includes both the land and the house. If a property owner rebuilds, he/she

would most likely have to pay off the lien before obtaining financing. If the previous owner never

pays

the back taxes

,youcanstilla

ly for foreclosure and

bid on the property at the tax deed

sale. If you are the winning bidder

,youwouldreceiveownershipto

the property.

Depending on

what you paid

originally, the land might still be valuable even without the house.

(If you were not

ewinningbidder,youwouldreceiveyourinvestmentback.)

If the situation looked horrible, you

could just let the lien expire

and not apply for foreclosure

would l

ose

the

money

you

invested in the lien, but you would not be liable for the property

This is

because you only

bought a lien, which is debt

and

not the actual property.

Question

Iwillbebuyingpropertiesin

Indiana

where there is

one

year redemption

period

Ihavethefollowingquestions.

What limit do you recommend bidding up to

?Knowing

the different interest rates on the minimum bid

and overbid amount,

and the generally low

probabil

ity of acquiring a property (5 percent

)

,isitbettertospendagivennumberofdollarson

several properties by bidding only a little above the mi

nimum bid to acquire the certificates

,oris

it better to bid on

few

properties by bidding them up aggress

ively if needed to acquire them?

Answer:

As far as how high to bid, commo

nsenseprevails.Findoutthec

ounty's assessed

value for each property

and then check that against reality by doing a drive by and calling on

some other properties nearby to determine the market value.

You will then have to decide your

cutoff.

like to keep

our

bids below 50 percent

of the

property’s market value. Sometimes

will

go highe

r, but usually no more than 75 percent

of the market value. The reason is that you

have to

leave

room for expenses such as paying subsequent taxes, fixing problems, paying to

Rogue Tax Sale Investor

clear a title,

paying a realtor to help sell the property

,etc.

Of course, if the property is redeemed

in Indiana then the overbid

is not as important. In fact, we

know some individuals

who

overbid in

Indiana on purpose. You just need to be car

eful and protect yourself against those

cases where

apropertyisnotredeem

ed and you take ownership.

Your strategy for bidding may depend upon the

ounty. Be careful about investing all of your

time on only a few properties. You should always go to a sale with a list of at least 5 to 10

properties to bid on, perhaps more if you

have the time and money. Why? That's because last

minute redemptions will erase several of your prospects. Also, some properties will be

aggressively bid on for whatever reason. You need to have a backup plan in terms of other

properties to bid on.

Quest

ion 7

Iaminterestedinfindinganagentorcompanythatwouldbeabletoassistme

with

the purchase of

tax deeds and tax liens.

Do you know of anyone

that

might be able to help?

Answer:

Most companies that we were aware of are no longer taking on any

more clients. If

you are a high net worth individual, we may be able to refer you to a company. Please contact

us by email for more information.

Question 74

How much money does one need to get started investing in tax liens or deeds?

Answer:

The more

money

you can set aside toward this type of investing, the greater your

potential is for success. Tax liens and even deeds can be purchased for less than $50 to

several thousand dollars. At a typical tax lien sale, most liens go for roughly $100 to $2000.

Tax

deeds may be more expensive depending upon the state.

Tax deed sales usually require a little

more than $1,000 to get started ($5,000 to $10,000 is better), but sometimes you can pick up

lots for relatively little.

Don’t forget to factor in your

travel

and business expenses.

Question 7

Because

IliveinColumbus

,Ohio,IwasresearchingtaxliensalesinFrank

County, and learned that Ohio

only sells

tax liens in one bundle,

all at once

to one investor.

That leaves

almost everyone out of the game.

re all states like this?

Answer:

In Ohio, c

ounties with populations of 200,000 or more

can collect delinquent property

taxes by selling tax certificates on delinquent properties to private parties by public auction.

Tax

liens are not sold individually, b

ut are sold in bulk. T

sales are

not designed for individual

investors

This is not how most sales are conducted in other states, where liens are typically sold

individually, so check out the tax sale procedures for other states in your area. You cou

ld also

invest in

tax deed

in Ohio. Properties not sold the first time are offered

again

at a tax deed sale

three weeks later, but are not re

advertised. Properties unsold after two attempts may be

forfeited to the State of Ohio

.Thec

ounty audito

r, who a

cts as an agent of the s

tate, conducts

Forfeited Land Sales of these properties.

Question 76

ould you recommend that we buy

tax

liens or deeds

online

without

viewing the

property?

Answer:

Iwouldnotrecommendbuying

tax

deeds wit

hout viewing the prop

erty. Many

people

buy

tax

liens without viewing the property, but that is a personal decision

based upon risk

tolerance

.SomestateslikeIowaandNebraskamakeithardtoviewlienproperties

before the

sale,

because

the bidding is done by round robin. In

other words, bidders will not know which

liens they will have an opportunity to purchase until their bidder number is called.

Question 77

How much

does a foreclosure process cost

Rogue Tax Sale Investor

Answer:

Foreclosing on a property

can range from

approximately

$1,000 t

oseveralthousand

dollars, depending upon where you live and any complexities to the foreclosure.

Question 78

What

payment method would you recommend,

besides cash

,atataxsale

Answer:

You usually

will

ave to ask the county about their payment req

uirements

.Mostwill

gladly accept a money order or cashier's check.

Most

will not accept checks.

Question 79

Is there any way to

purchase a tax deed and then immediately sell the property

for a capital gain?

Answer:

The quick answer to your question i

snotreally.Evenfordeeds,

many

states have a

redemption period

following the tax sale

.WeworkinArkansasalotandtheyhavea60

day

redemption period after the sale. So, you won’t even receive the deed for at least 60 days.

addition,

most states

have a regulatory challenge period (usually one to two years). You can still

sell

the property

during this period, but you can’t get clear title. Also, remember that your capital

gains tax will be much lower if you hold a property for at least one year.

Question

How and when is the interest applied to tax liens? Is it compounded?

Answer:

most tax lien states

the interest is applied annually.

Texas and Georgia

have a flat

interest rate of 25% and 20%, respectively. In

those states (and a few other

slikethat)

,youget

the full

interest even if the lien

is redeemed in one month. Some states have a minimum fee

such as 2

%or

to 5% to protect investors from buying a certificate and having it redeemed two

weeks later.

Rogue Tax Sale Investor

NINE

Detailed State

and County Profiles

“A journey of a thousand miles mus t begin

with a single step.”

–

Chinese proverb

This chapter provides detailed information on tax sales

for

all 50 states

(plus Guam and the

Virgin Islands)

The information is derived from state st

atutes, our own experience attending tax

sales, conversations with government officials, and other resources.

The available information

varies widely for each state. Some

states are very progressive, actively encouraging

tax lien

certificate sales or

tax d

eed sales and providing good information.

In other states, tax sales are

not a priority and little

information is available.

Detailed tax sale information for the top 100 counties in the United States by population, as well

as some addi

tional counties,

lso

provided in this chapter

These county “examples” are

meant to give you

an understanding of what to expect if you were to attend an auction

in a

particular state.

As with the states, some counties are progressive and provide a great deal of

informat

ion on tax sales on their websites, whil

eothersarejusttheopposite.Youmaywantto

look at the information provided by states/counties where you don’t expect to invest, because

often

the information

is is relevant across the board (e.g., how to resear

ch property before a tax

deed sale).

the

county

you are interested in

is not covered in this chapter, does not have a website, or has

awebsitewithlittleornotaxsaleinformation,youwillneedtocontactthecountybyphoneor

mail. Use the exampl

ecountiesinthischapterforthestateyouareinterestedintodetermine

which office holds the tax sales (e.g., tax collector’s or treasurer’s office).

Be patient. After you study the information in this chapter, you will need to become familiar with

afewcountiesandtheirexactproceduresasyoupreparetobidonproperties.Tohelpyouwith

your research, the following website

provide general tax

sale

information:

http://www.tax

lien

certificat

es.com

and

http://www.tax

deed

sales.com

Rogue Tax Sale Investor

Important Note

Information

in this 7th edition of

Rogue

Tax Sale

Investor

that was

derived from a government

website may have changed

been removed

since

our update

.Beforerelyingonthestate

county

or municipality

specific information presented in Chapter 9, we strongly recommend

that you visit the relevant web page source

(or contact the appropriate government office)

make sur

etheinformationis

still

current.

Occasionally we have only

ovided excerpts from a

web page (

this is noted).

In addition,

in most cases

have

removed

the government’s

highlighting of text

(e.g., bolding, capitalizing)

You may see information in thi

schapter

from a tax sale that has already occurred. We chose

to include this information

where it is still

presented

online

,becausetheinformation

will help

you understand the tax sale procedure in general for that

government office

Finally, if you co

py a URL into your browser, remember that a URL has no punctuation at the

end (e.g., period, comma).

If a link does not work, it is because the URL

has

been

changed

removed

since our update.

Visit

the home page of the

appropriate

government office

and

ook

for

alinktothesameinformation

,orcontactthatoffice.

Rogue Tax Sale Investor

Alabama

Tax Lien Sales:

Yes

–

Annual Tax Sale

Over

the

Counter Tax Lien Sales:

Yes

–

“Sold to State” properties

left over from the previous

year’s sale

offered for sal

ebytheStateofAlabamaRevenueDepartment

.Taxliensareissued

on properties th

at have been delinquent for 1 to

3years.

Tax Deed Sales:

Over

the

Counter Tax Deed Sales:

Yes

–

“Sold to State” properties

left over from the previous

year’s sale

ffered for sale by the State of Alabama Revenue Department

.Taxdeedsare

issued on properties that have been delinquent for more than 3 years.

Rating:

Three Stars (***)

Interest Rate:

12%

on the minimum bid, and up to 15% of the appraised value of the p

roperty.

Sale Period

sually in

May

,occasionallyinJune

Redemption Period:

3years

for tax lien certificates.

Property owners get a 10

day grace period

after the sale to redeem without paying any interest.

Bidding Process:

old to the highest bidde

rwiththefaceamountastheminimumbid

The

starting bid is referred to as “tax and cost.” Bidding continues by increasing the amount over the

minimum bid, referred to as “plus some amount.” You do not receive interest over 15% of the

appraised value; h

owever, you are free to bid above 15% of the appraised value. On the portion

above 15%, you will receive your principal back, so you effectively reduce the interest rate

earned.

State

Specific Information:

interest rate of 12% per year

and the

redempt

ion period of 3

years are

decent.

Compared to the smaller county sales, larger Alabama county sales are

generally better for big time investors because a lot of money can be invested.

Jefferson County, Alabama Tax Lien Sale

–

May

2005

Approximately 15 la

rge investors were present at this sale, and roughly 25 million dollars was

placed by wire transfer in the county’s coffers. The auction was held in a courtroom designed

for about 30 to 40 people, and it was overflowing into the hallway. Approximately 75 p

eople

were in attendance.

Jefferson County adds a unique twist to the bidding by allowing small

time investors to open

bidding on a few selected properties. This process started at the beginning of the sale;

however, it did not deter the big

time investo

rs from bidding on these properties.

On average, most bids were received at about twice the 15% appraised level or 30% of the

appraised value. This results in investors receiving an effective interest rate of about 5 to 7%

interest, or about one

half of

the 12% interest.

The sale was really designed for investors with deep pockets, allowing millions of dollars to be

spent. If you have a minimum of $100,000 to invest, then this sale is for you; if not, try a

smaller county in Alabama.

Rogue Tax Sale Investor

Alabama County Lin

See

Alabama

Tax Sales

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

BALDWIN COUNTY

,ALABAMA

http://www.co.baldwin.al.

REVENUE COMMISSIONER’S OFFICE

http://www.co.baldwin.al.us/PageView.asp?PageType=R&edit_id=4

(1) Tax Sale Informat ion for Bal dwin County

http://www.co.baldwin.al.us/Pageview.asp?edit_id=595

Sales are usually held in

May of each year for all unpaid tax properties.

Properties are advertised in

local newspapers, Onlooker, Courier, Baldwin Times, Bulletin

, and other

Gulf Coast Newspapers, for three weeks usually in

May of each year.

Properties are for sale in the Revenue Commissioner's Office in a public outcry auction,

beginning at

10:00 a.m., on or around the end of

May of each year. Anyone wishing to p

urchase must appear in

person and if there are bids, property interest goes to the highest bidder.

Alabama, purchasers of tax sale properties are purchasing the tax interest only, there is no fee

simple title.

At the time of purchase the buyer is give

n a paid receipt. After five working days the buyer is issued a

certificate of purchase, not a tax deed.

A tax deed cannot be issued until three years from the date of the tax sale. At that time the purchaser

must surrender his certificate to the judge of

probate, who in turn, issues a tax deed.

Any time within the first three years the owners of said property can redeem this property and the

redemption money is refunded to the purchasers of the tax lien property. The certificate of sale is then

null and

void.

All liens and mortgages take precedent over the tax sale.

Often law suits are filed if the purchaser has a tax deed and tries physically to take possession of the

property.

If a minor child or a mentally incompetent person is in the chain of title,

the judge always

rules in favor of these persons.

The State of

Alabama warns: buyers beware on the purchase of tax title. You are buying tax interest

only, not the property.

No tax deed is insurable for title insurance on resales or mortgages.

The pres

ent rate of interest is 12 percent per year. If the property is redeemed by rightful owner, the

principal, plus interest earned at time of redemption, is refunded to the purchase of tax liens.

Purchasers are required to pay for the property they purchased

on the date of the sale.

Tax properties not purchased are returned to the State of Alabama.

After these are sent to the state,

purchasers wishing to buy tax interest at this time must apply to the

State Department of Revenue Ad

Valorem Tax Division, Pos

t Office 327210, Montgomery, Alabama 36132

7210.

The state will notify you

of the amount necessary to purchase the tax lien. The state will only accept certified checks for tax sale

purchases.

(2) Staff/Directory

http://www.co.baldwin.al.us/Pageview.asp?edit_id=72

Collections Department

P.O. Box 1549

Bay Minette, AL 36507

Phone: 937

0245

Fax: 580

1858

Administrator of Collections: Karen Jones

Redemption

s: Jan Sheffield

Rogue Tax Sale Investor

CALHOUN COUNTY

LABAMA

http://www.calhouncounty.org

REVENUE COLLECTION DEPARTMENT

http://www.calhouncounty.org/revenue/collection.html

All unpaid property

is sold at auction in May to the highest bidder. The property is sold with a three year

"Right of Redemption".

Failure to pay Property Tax results in the Tax Sale of the property. Property may be redeemed for three

years after the date of the sale. Proper

ty may be redeemed, for the total taxes and penalties, by certified

check only.

April: advertised for sale; May: sale

Karen Roper, Revenue Commissioner

1702 Noble Street, Suite 104 & 106

Anniston, AL 36201

Phone: 256

241

2840

Fax: 256

231

1891

Email:

revenue@calhouncounty.org

JEFFERSON COUNTY, AL

ABAMA

http://www.jeffcointouch.com

TAX COLLECTOR’S OFFI

http://tc.jeffcointouch.com/taxcollection/HTML/index.asp

J. T. Smallwood, Tax Collector

(Birmingham Office)

Grover Dunn, Assistant Tax Collector

(Bessemer Office)

Phone:

(205) 325

5500 for the Birmingham Office or (205) 481

413

1 for the Bessemer Office

(1) General Tax Sale Information

http://tc.jeffcointouch.com/taxcollection/HTML/intro_taxsales.html

Code of Alabama, Section 40

10 provides for

the disposition of property tax liabilities that are not paid in a

timely fashion. There are two methods by which you may purchase tax interest in Jefferson County

properties: Annual Tax Sale and Sold to State Properties.

) Annual Tax Sale

http://tc.jeffcointouch.com/taxcollection/HTML/taxsale_annual.html

As required by Code of Alabama, Section 40

15, the Tax Collector conducts a sale (public outcry

auction format)

in May of each year. For information on the next annual sale, for Birmingham please call

(205) 325

5084. For Bessemer

utoff please call (205) 481

4130

after May 1st and ask for a Tax Sale

Information Package.

Annual Tax Sale

Frequently Asked Questions

ow man y parcels are normally offer ed?

Approximately 4000 tax certificates are offered annually. The

total face amount of certificates offered is usually around $2 million.

How is the sale conducted?

Tax certificates are auctioned one at a time, in unit nu

mber order. They are

sold to the highest bidder with the face amount as the minimum bid.

How long before I get a tax deed?

If a certificate that you purchase remains unredeemed on the three

year anniversary of the tax sale, you are entitled to a tax deed.

Rogue Tax Sale Investor

If I buy a tax certificate, do I ever get clear title?

Investors typically buy tax certificates to get a 12%

return on their investment and usually do not get "clear title" to the property, although it is possible.

lease consult your real estate attorney

for legal advice.

How do I parti cipate in the annual sale?

You must register at the appropriate time. For information on

the next annual sale, for Birmingham please call (205) 325

5084. For Bessemer Cutoff

please call (205)

481

4130

after May 1st and ask

for a Tax Sale Information Package.

) Sold to State Properties

http://tc.jeffcointouch.com/taxcollection/HTML/taxsale_soldtostate.html

"Sold to State" properties

are parcels that were offered at a past annual tax sale, and were not purchased

at that time. As provided by Code Sections 40

21 and 40

132, the State of Alabama Revenue

Department offers for sale tax certificates and tax deeds, which are currently

in the possession of the

State (usually between 6500 and 8500 items from Jefferson County). You may purchase a complete

listing of Jefferson County Sold to State tax parcels via the Internet

(

http://tc.jeffcointouch.com/taxcollection/HTML/taxsale_buylist.asp

) or by calling (205) 325

5084 anytime

during business hours (8

a.m.

to 5

p.m., Central Time, Monday through Friday

). Listings are available i

the form of hardcopy, CD

or e

mail.

Sold to State Properties Frequently Asked Questions

How many parcels are in a Sold to State status at any given time?

Anywhere between 6500 to 8500

Sold to State parcels are available.

How do I purchase certificates from the State of Alabama?

You must have the parcel number of the

certificate you wish to purchase. Then complete the online State Resale Application

(

http://tc.jeffcointouch.com/taxcollection/H

TML/redemption.html?who=state

), which is free

. The completed

form will be electronically sent to the State Department of Revenue. The State Revenue Department will

respond to your application by mailing directly to you a price quote letter. You will have

twenty days to

respond to the price quote by sending in a cashier's check for the stated amount.

How do I know if I w il l get a certifi cate or tax deed?

Tax deeds are issued on properties that have

been delinquent for more than three years.

When will I ge

t a document from the State?

Once the State receives your payment, they will begin

processing either a tax certificate or a tax deed, whichever is appropriate. Upon completion of that

document, they will mail it directly to you, in approximately 6 to 8 wee

ks.

What do I do with my certif icate?

Keep it in a safe place.

If the property is redeemed, you will be

notified to return it to us to get your money back plus interest. If the property is not redeemed prior to the

three

year anniversary of the original s

ale, bring the certificate to our office and exchange it for a tax deed

($5.00).

What do I do with my tax deed?

Record it immediately in the Judge of Probate Office and consult your

legal sources regarding possession and use of the property.

(3a

)BuyLis

http://tc.jeffcointouch.com/taxcollection/HTML/taxsale_buylist.asp

Jefferson County Sold To State property listings are available in hard copy or on CD at the Tax Colle

ctor's

office for $25.00. These can be picked up at our office (

visit

http://tc.jeffcointouch.com/taxcollection/HTML/info_redemption.html

You may purchase an electronic

copy of the list online using a credit card or check. The list will be

attached to an email as a Microsoft Excel spreadsheet (approximate file size is 2.0 MB) and sent to you

immediately upon payment.

Note

: Your e

mail must be able to accommodate file att

achments.

The Sold

To State List is not available at this time.

Rogue Tax Sale Investor

The following fees apply to online transactions:

(1)

Credit card: $5 per parcel or transaction

, and (2)

Electronic check: $2 per parcel or transaction.

(

) Apply to Buy a Parcel from the S

tate

http://tc.jeffcointouch.com/taxcollection/HTML/redemption.html?who=state

(

) Frequently Asked Questions

http://tc.jeffcointouch.com/taxcollection/HTML/faqs.html

At what point will my property be "sold" for taxes?

If taxes are not paid the day before the tax sale,

they will be included in the sale the next day. The tax sale is usually th

e third or fourth week of May each

year.

How does the tax sal e work?

Tax certificates on delinquent properties are auctioned to the highest

bidder.

Can I pay my taxes after the tax sale?

Yes, approximately 30 days after the tax sale you may "redeem"

properties sold for taxes.

(5) Contact Information

http://tc.jeffcointouch.com/taxcollection/HTML/intro_currentyear.asp

Smallwood, Tax Collector

716 Richard Ar

rington Jr. Boulevard

Birmingham,

35203

Phone: (205) 325

5500

Grover Dunn, Assistant

Tax Collector

P.O.

Box 1190

Bessemer,

35201

1190

Phone: (205)

481

4131

LEE COUNTY

,ALABAMA

http://www.leeco.us

REVENU

ECOMMISSIONER

http://www.leeco.us/rev_com

Oline W. Price, Revenue Commissioner

Email:

oprice@leeco.us

(1) Tax Sale Info

rmation

http://www.leeco.us/rev_com/real_property/tax_sale_info2.html

Real Estate Dates and

Info

rmation

Leading Up to the Tax Sale for 2006 Tax Year

Schedule up to the Tax Sale is as follows:

Delinquent

–

January 1

Dummy

Delinquent

–

Notice January 22

Decree of Sale

–

February 12

Decree of Sale Court Date

–

March 5

Paper run

–

March 21

–

Pickup on March 15

Paper run

–

March 28

–

Pickup on March 22

Paper run

–

April 4

–

Pickup on March 29

Tax Sale

–

May 2

Last day to r

edeem property

in this office

–

May 7

Rogue Tax Sale Investor

Tax Sale Information for Lee County

Tax sales are held in May of each year for all unpaid tax properties.

Properties are advertised in the local newspaper, The Opelika

Auburn News, for three weeks in March

and April

of each year.

Properties are for sale at the courthouse in a public outcry auction, usually beginning at 10:00 a.m., on

the first Wednesday of May each year. Anyone wishing to purchase must appear in person and if there

are bids, property interest goes to

the highest bidder.

In Alabama, purchasers of tax sale properties are purchasing the Tax interest only, there is no fee simple

title.

According to the Code of Alabama, Section 40

11.1. By virtue of a decree I will proceed to sell to the

highest bidde

r all properties contained in the list provided. Terms of the sale are cash, certified funds or

check with a bank letter of credit if you are a first

time purchaser. You must be registered in order to

purchase property at this sale.

Sales are not perfec

ted until 15 days after sale, at which time a tax certificate will be issued to the

purchaser, not a tax deed. Certificates of sale will be available and must be picked up and signed for in

person at the courthouse in the property collections department. A

fter obtaining the tax certificate, the

purchaser must go to the assessment department to assess the property in their name. The purchaser of

the tax certificate is required to pay taxes which are due and payable October 1, for three consecutive

years foll

owing purchase. Purchaser will be issued a tax deed three years after sale, upon presentation of

the original tax certificate and three years tax receipts and payment of a $5 fee.

Any time within the first three years the owners of said property can redee

m this property and the

redemption money is refunded to the purchasers of the tax lien property. The certificate of sale is then

null and void.

All liens and mortgages take precedent over the tax sale.

The State of Alabama warns: buyers beware on the pur

chase of tax title. You are buying tax interest only,

not the property.

No tax deed is insurable for title insurance on resales or mortgages.

The present rate of interest is 12 percent per year.

If the property is redeemed by rightful owner, the

principal

, plus interest earned at time of redemption, is refunded to the purchase of tax liens.

Tax properties not purchased are returned to the State of Alabama. After these are sent to the state,

purchasers wishing to buy tax interest at this time must apply to

the

State Department of Revenue Ad

Valorem Tax Division, Post Office Box 327210, Montgomery, Alabama 36132

7210

The state will notify

you of the amount necessary to purchase the tax lien. The state will only accept certified checks for tax

sale purchases

To go to State of Alabama Department of Revenue Property Tax Division web pages

, click here:

http://www.revenue.alabama.gov/advalorem/transcript/transcript.htm

(2) Cont

act

Information

http://www.leeco.us/rev_com/contacts.html

Lee County Revenue Commissioner Main Office

Lee County Courthouse

215 South 9

Street

Opelika, AL 36801

Phone: 334

737

3655

Toll Free: 8

239

4469

Fax: 334

705

5081

Rogue Tax Sale Investor

MOBILE COUNTY

,ALABAMA

http://www.mobilecounty.org

REVENUE COMMISSIONER

http://www.mobilecopropertytax.com

(1) Frequently Aske

d Questions

http://www.mobilecopropertytax.com/faq.htm

(2) Tax Sale

http://www.mobilecopropertytax.com/taxsale.htm

Marilyn E. Wood

, Mobile County Revenue Commissioner

P.O. Drawer 1169

Mobile, AL 36633

Phone: 251

574

8542

1. The annual tax sale is held on the 1st Thursday each June in the Mobile County Courthouse Annex

beginning at 10:00 a.m.

2. Available properties are advertise

d in the Mobile Register (two publications in March and three

publications in May).

3. Registration for the sale is the first Thursday of June at 8:00 a.m. Registration numbers are assigned to

participants. These numbers are to be flashed to indicate bidd

ing. The highest bidder obtains the

property. There is no deposit required for registration.

4. All bids must total at least tax and costs, and are to be made in person; however, a representative can

participate.

5. Payment is to be made in full by cashi

er's check, cash or money order. Visa or MasterCard are

accepted. The Revenue Commissioner's Office charges no fee for MasterCard/Visa service; however,

your bank may charge a cash advance fee plus interest. Electronic deposits will be accepted; electronic

funds must be deposited into the Revenue Commissioner's bank account by the end of the Tax Sale day.

There are no financing programs available.

6. A property owner is entitled to withdraw all monies bid over tax and cost in lieu of redeeming a

property.

However, if later the owner elects to redeem the property, all tax, cost and the accrued interest

on the bid amount up to the date of redemption is due.

7. If tax sale property is redeemed by the owner, the purchaser will be notified by letter to bring th

e tax

certificate to the Mobile County Treasurer's Office located at 205 Government Street, 8th Floor. The Tax

sale certificate must be processed through the county treasurer's office before monies can be refunded.

The Revenue Commissioner's Office cannot

process tax certificates for refund and is not responsible for

tax certificates sent through the mail.

8. After sales are final, bidders will be issued a receipt for an original tax certificate. This receipt must be

presented in person before a certificat

e is received. Companies participating in the sale must designate

an individual to sign and pick up certificates. Successful bidders may pick up tax sale certificates at the

Mobile County Revenue Commissioner's Office at 109 Government Street, Mobile, AL u

sually after the

middle of July. No certificates will be mailed.

9. Parcels not sold at auction will be transferred to the State of Alabama. They cannot be purchased over

the counter directly from the county.

10. For a fee of $35.00 (no personal checks a

ccepted) you may obtain a current list of tax lien property by

request from:

Rogue Tax Sale Investor

Larry Doyal, State Land Agent

State of Alabama Department of Revenue

P.O. Box 327210

Ad Valorem Tax Division

Montgomery,

36132

7210

11. When you purchase property at the tax

sale, you are only acquiring a lien on the property, you do not

have clear title to the property. To obtain clear title, you have to complete a complex process required to

be in compliance with the law; eventually you would go through Circuit Court. Legal

questions would have

to be answered by your attorney.

12. To research statutes regarding tax sales, see Title 40, 1975 Revised Code of Alabama.

13. At this time, there is no information available on the Internet concerning tax sales.

14. The interest r

ate for land redemption is 12% annually and the redemption period is three years from

the date of sale.

(3) 2008 Tax Sale Sold to Stat e

http://www.mobilecopropertytax.com/soldstate.txt

GUE INVESTOR NOTE

: See web page for the tax sale list.

The 2008 tax sale sold to state list

available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

(4) 2008 Tax Sale Sold to Individual

http://www.mobilecopropertytax.com/soldindiv.txt

MORGAN COUNTY

,ALABAMA

http://www.co.morgan.al.us

REVENUE COMMISSIONER

http://www.co.morgan.al.us/revenue_web/rev_comm_home.htm

(1) Tax Sale

http://www.co.morgan.al.us/revenue_web/tax_sale.htm

Notice of Delinquent Sale, State of Ala

bama, Morgan County

There are currently no properties available

for purchase through our office at this time. Normally our tax sale is held on the first Tuesday in May of

each year. By selecting the “Detailed” link below it will take you to properties tha

t were sold to the State.

Under and by virtue of a Decree rendered by the Tax Collector Court of Morgan County, Alabama, at the

February term thereof, I will, on Tuesday, 20th day of May 2008, proceed to sell at public outcry, to

the

highest bidder for cash, before the courthouse door of Morgan County, during the legal hours of sale, the

following described parcels of real estate assessed to the following named owners, for the payment of

taxes, fees, costs and interest as shown for

the 2007 year.

Amanda G. Scott, CPA, Revenue Commissioner

Morgan County

(2) Contact

http://www.co.morgan.al.us/revenue_web/contacts

.htm

Amanda G. Scott, Revenue Commissioner

302 Lee Street, NE

, Decatur, AL 35602

Mailing address:

P.O. Box 696

Decatur, AL 35602

Phone, Collecting Division: 256

351

4692

Fax:

256

351

4699

Rogue Tax Sale Investor

SHELBY COUNTY

,ALABAMA

http://www.shelbycountyalabama.com

PROPERTY TAX COMMISSIONER

http://www.shelbycountyalabama.com/Property_Tax_Commissioner.shtm

102 Depot Street (street addres

P.O. Box 1269 (mailing address)

Columbiana, AL 35051

Phone: (205) 670

6900

Fax: (205) 670

6915

Lori Riley, Collection Supervisor

Debbie Smith, Property Tax Administrator

(1) Tax Sale Informat ion

http://www.shelbycountyalabama.com/tax_collections.shtm

Tax sales are held in May of each year for all unpaid tax properties.

Properties are advertised in the local newspaper, The Shelby County Reporter, for three weeks in

April of eac

h year.

Properties are for sale in front of courthouse in a public outcry auction, usually beginning at 10:00

a.m., on or around May 15 of each year. Anyone wishing to purchase must appear in person, and if

there are bids, property interest goes to the hi

ghest bidder.

In Alabama purchasers of tax sale properties are only purchasing the tax interest only, there is no fee

simple title.

At the time of purchase the buyer is given a paid receipt. After five working days the buyer is issued a

certificate of pu

rchase, not a tax deed.

A tax deed cannot be issued until three years from the date of the tax sale. At that time the purchaser

must surrender his certificate to the judge of probate who, in turn, issues a tax deed.

Any time within the first three years

the owners of said property can redeem this property and the

redemption money is refunded to the purchasers of the tax lien property. The certificate of sale is then

null and void.

All liens and mortgages take precedent over the tax sale.

Often law suits

are filed if the purchaser has a tax deed and tries physically to take possession of the

property. If a minor child or a mentally incompetent person is in the chain of title, the judge always

rules in favor of these persons.

The State of Alabama warns: b

uyers beware on the purchase of tax title. You are buying tax interest

only, not the property.

No tax deed is insurable for title insurance on resales or mortgages.

The present rate of interest is 12 percent per year. If the property is redeemed by right

ful owner, the

principal, plus interest earned at time of redemption, is refunded to the purchase of tax liens.

Purchasers may pay by certified check or cash the date of the sale.

Tax properties not purchased are returned to the State of Alabama. After t

hese are sent to the state,

purchasers wishing to buy tax interest at this time must apply to the State Department of Revenue Ad

Valorem Tax Division, Post Office Box 327210, Montgomery, Alabama 36132

7210

The state will

notify you of the amount necessary

to purchase the tax lien. The State will only accept certified

checks for tax sale purchases.

Rogue Tax Sale Investor

PRIVATE SECTOR TAX SALE ADMINI STRATORS

XSPAND

http://www.xspand.com

(1) Tax Liens for Sale

http://www.xspand.com/investors/tax_liens_sale/index.aspx

Periodically XSPAND may offer investors the ability to buy tax liens through an assignment process.

Where available, these tax liens are

listed by jurisdiction and can be acquired in some cases at full

redemptive value and in others at a discount from full redemptive value.

It is important to note that XSPAND provides no investment, legal or financial advice to potential

investors. As with

any investment, investors should carefully consider their objectives, risks, expenses

and conduct their own due diligence prior to making an offer. Furthermore, investors should be familiar

with the laws governing tax certificates in the jurisdictions in

which they are interested. XSPAND only

represents that the tax lien certificates it sells are valid liens, and makes no representations as to the

underlying collateral or overall return on investment, if any. We strongly advise potential investors to

perfo

rm due diligence to make informed decisions.

To purchase tax liens follow these steps:

Once you've determined the jurisdiction(s) in which you have an interest, thoroughly familiarize

yourself with the legal requirements in that community.

Review our li

stings and assemble your list of desired Tax Lien ID's. Email your selections, asking

price, contact information and interested date of assignment to

investor@xspand.com

. Please

keep in mind that we generally req

uire at least one week to respond to assignment information

requests.

One of our Asset Managers will review and analyze this list and notify you by email which liens

are available and the final assignment price for each. There is the potential that not al

l of the liens

you requested will still be available as interest in assignments of tax certificates can be quite high

and liens regularly redeem. Furthermore, in certain jurisdictions, government approval of your

assignment offer may be required and allowa

nce should be made as to the turnaround time once

an offer has been made.

Review this list and contact our Asset Manager to discuss the steps necessary to complete the

transaction. In some cases a deposit may be required but in all cases you will need to

remit

payment by wire transfer or cashier's check once a final agreement has been reached on the

terms of the assignment.

Upon receipt of funds XSPAND will send you the appropriate tax certificates and/or

endorsements.

Upon receipt of the assigned certif

icates you should be aware that you may be required to record

your interest with the applicable party in each jurisdiction.

Should you have any questions about our assignment process or the particulars of any tax lien offered,

please feel free to contact

us at

investor@xspand.com

. Please again note that XSPAND is not an

advisory group and no investment, legal or financial advice will be provided. Should you have an interest

in purchasing or viewing our current i

nventory of available real estate for sale or auction please visit Real

Estate for Sale

(

http://www.xspand.com/investors/realestate_sale/index.aspx

) or Real Estate Auctions

(

http://www.xspand.com/investors/foreclosure_auctions/index.aspx

) Alabama Tax Liens for Sale

http://www.xspand.com/investors/tax_liens_sale/detail.aspx?t=1&j=AL&name=Alabama

ROGUE INVESTOR NOTE

: See web page for parcel list, including taxing jurisdiction, lien year, property

description, parcel number and location.

Rogue Tax Sale Investor

)Alaba

ma Tax Lien Sales Frequently Asked Questions

http://www.xspand.com/investors/tax_liens_sale/detail.aspx?t=1&j=AL&name=Alabama

Under what process were the c

urrent properties for sale obtained?

The particular properties

contained in this section of our Investor web page have been acquired primarily throu

gh tax certificate

foreclosure

and

as such, while many may represent attractive values, some special consid

eration should

be given prior to submitting any offer. The properties available for sale are linked on this page by

jurisdiction as the property acquisition process for these properties may vary according to the particular

laws and pr

ocedures of each juris

diction.

Where can I find a list of prop erties?

The list of properties available for sale from XSPAND's own

portfolio of real estate is categorized by state and can be found by clicking on i

ndividual state

jurisdictions.

How do I co

ntact XSPAND or XSPAND

's broker?

Contact information appears next to the individual

property listings. This information should contain the broker's name, telephone number and email

address. You may also contact one of our REO Managers at 800

575

9880 x 3744 or by emailing

investor@xspand.com

If my purchase offer is accepted, what happens next?

All of our properties are being sold on an "as is"

and "where is" basis with no representations or warranties of any kind, including but not l

imited to the

physical condition, location, zoning, or occupancy of the property. XSPAND does not provide financing for

these transactions and expects that a closing will occur within sixty days of our acceptance of an offer. A

minimum 10% deposit is requi

red (in some cases more) which is non

refundable upon the execution of a

contract. For more information, follow the appropriate link or call the phone number listed for each

property.

We strongly advise potential investors to do sufficient due diligence t

o make informed purchase

decisions. XSPAND is not an advisory group and no investment, legal or financial advice will be provided.

Rogue Tax Sale Investor

Alaska

Tax Lien Sales:

Tax Deed Sales:

Yes

,taxforeclosurelandsales

Over

the

Cou

nter Tax Deed Sales:

Yes. Over

the

counter land sales include properties that

were offered at a regular borough land auction and were not sold. The properties can also come

from

repossessed mortgage notes. The purchasing

process can be done by mail, and bo

roughs

may provide financing.

Rating:

Two Stars (**)

Interest Rate:

Not applicable to

Alaska’s

tax deed sales.

Sale Period

Sales can occur throughout the year, depending

on the

borough

Redemption Period:

extended

right of redemption following th

etaxdeedsale

Bidding Process:

Most

boroughs

(or municipalities)

sell tax

foreclosed properties through a

“sealed bid sale.”

The highest qualifying bid is the winning bid.

The minimum bid is set by the

orough

and

is usually set at the appraised valu

eoftheproperty

Properties

also may

be sold

at public auction.

State

Specific Information:

State law requires the

municipality (or borough)

to initiate

foreclosure proceedings for non

payment of property taxes. Alaska Statutes C

hapter 29.45 also

requir

es the m

unicipality to hold properties for at least a year after the foreclosure judgment is

awarded. After this waiting period, any property that has not been redeemed (delinquent taxes,

interest and la

te fees paid) is deeded to the m

unicipality by the Su

perior Court.

The owner of property that has been foreclosed and deeded to the municipality can repurchase

the property simply by paying the delinquent taxes and/or special assessments (

plus

penalty,

interest and administrative costs), and can do so

at a

ny time before

the foreclosed property is

sold.

eded properties that are not repurchased beforehand may be taken by the

unicipality

for public purpose or sold at

public auction

Sales are usually conducted through the Land

Management Division or Treasur

yDivision.

Some sales are

undiscovered

because roads are

few and distances between sale locations are huge.

Alaska County Links

See

Alaska

Tax Sales

http://www.tax

lien

certificates.com

Detailed

Borough/

Municipal

ity

Specific Information:

Rogue Tax Sale Investor

MUNICIPALITY OF ANCHORAGE, ALASKA

http://www.muni.org

TREASURY DIVISION

http://www.muni.org/treasury

The Treasury Di

vision consists of four sections, including the Property Tax section.

(1) Tax Section

–

Real Property Tax Information Web Site

http://www.muni.org/treasury/prop_index.cfm

(1a) General Informat

ion

http://www.muni.org/treasury/prop_general.cfm

Phone: (907) 343

6650

Fax: (907) 343

6121

Mailing Address

Municipality of Anchorage

Department of Finance

Treasury Division

P.O. Box 196040

Anchorage, AK 99519

6040

Physical Address

632 West 6th Avenue, Suite 330

Anchorage, AK 99501

(1b) Frequently Asked Questions

http://www.muni.org/treasury/prop_faq.cfm

When will my property be f

oreclos

ed on if I am delinquent o n my real p

roperty ta xe s?

On or about

March 1st annually, a petition for judgment and decree of foreclosure and sale is filed with the Superior

Court concerning real property parcels with unpaid delinquent t

axes for the pre

ceding year(s);

e.g.

property with delinquent 2003 and prior years

’

taxes are foreclosed following the March 2004 statutory

publication and noticing period. Foreclosed property may be redeemed during the one

year redem

ption

period by paying the tax

amount

(s) along with penalty, interest, and costs due. Properties not redeemed

prior to the expiration of redemption period are deeded to the Municipality. Deeded properties that are not

repurchased beforehand ma

y be taken by the Municipality

for public purpose

or sold at public auction.

Additional information regarding foreclosure, deed, and sale of foreclosed property may be obtained by

contacting the Municipal Real Estate Service Office at

(907) 343

7953 or (907) 343

7986.

(1c) Frequently Called Numbers

http://www.muni.org/treasury/prop_freq_num.cfm

Foreclosure Office:

Tax Liens/MOA Deeded Property/Tax Deed Auction

Phone:

(907)

343

7953

or (907) 343

7986

(1d)

Due

Dates

http://www.muni.org/treasury/prop_dates.cfm

March of the year following the original tax year

Foreclosure p

ublication in local newspaper of general

circulation

–

Notice

of Foreclosure P

roceeding is mailed out to the p

roperty o

wner(s) and any

lien

holder

on record by the Municipality of Anchorage's Foreclosure Office on the first day of publication in

the

local

newspaper

Rogue Tax Sale Investor

HERITAGE LAND BANK

REAL ESTATE SERVICES

OFFICE

http://www.muni.org/hlb/res.cfm

Real Estate Services is

also

responsible for managing foreclosed properties.

Real Estate Services

forecloses and sells properties delinquent on taxes and assessments.

Real Estate Services Office

Public Works & Permit Cen

ter

4700

Elmore

Street

, First Floor

Anchorage, AK 99501

Phone: (907)

343

7986

or (907) 343

7953

The 2008 List of Properties in Foreclosure

Click on the

following

link to access the newest list of properties undergoing foreclosure:

http://www.muni.org/iceimages/hlb/Muni_Foreclosure_2008.pdf

Note: Properties in this publication are

not

currently for sale by the Municipality of Anchorage.

Results of the 2007 Foreclosed Properties

Sale

: Real Estate Service

had a very successful sale of

foreclosed properties on July 31, 2007: a large public turn

out, with all properties sold!

The next sale of foreclosed properties will be in 2008. For more information on the foreclosure process,

che

ck out this important guide by clicking

on the following link:

http://www.muni.org/iceimages/hlb/4closedPropsGuide.Revised2

08.pdf

(

Foreclosed Properties Guide

For m

ore information, call us at 343

7986 or 343

7953. Thank you!

ROGUE INVESTOR NOTE

: The 200

foreclosed parcels list

is available on

the data CD that

accompanies this book

(within the file folder “Tax Sale Lists”)

)

Foreclosed Properties Guide

http://www.muni.org/iceimages/hlb/4closedPropsGuide.Revised2

08.pdf

Excerpts from web page

Foreclosure

Many people do not realize that tax and special assessment foreclo

sures are not the same

as bank foreclosures. In the world of banking, a foreclosure removes the ability of a

mortgagor to redeem

property when payments haven’t been made. In the case of the

Municipality, foreclosures are made

against

roperty when property

taxes or special

assessments (such as for road, gas, water or sewer

mprovements) are not paid. State law

requires the Municipality to initiate foreclosure proceedings for

non

payment. Alaska

Statutes Chapter 29.45 also requires the Municipality to hold p

roperties for at least

a year

after the foreclosure judgment is awarded. After this waiting period, any property that

has not been

redeemed (delinquent taxes, interest and late fees paid) is deeded to the

Municipality by the Superior

Court.

Properties in

foreclosure are not available for bid; a property must have been deeded to

the Municipality

by the court before the sale process can begin, and the sale must first be

approved by the Anchorage

Assembly. Lists are often made available, say, from the

Anchora

ge Chamber of Commerce or another

organization of properties “in foreclosure.”

This does not mean that they will be deeded to the

Municipality; it only means that

they usually have a year to redeem. This means that most of these

properties listed

in such p

ublications will be redeemed and will never be deeded to the Municipality.

Repurchase Rights:

The owner of property that has been foreclosed and deeded to the

unicipality can

repurchase the property simply by paying the delinquent taxes and/or special as

sessments

(

plus

penalty,

terest and administrative costs

), and can do so

at any time before

the

foreclosed property is sold.

Sealed Bid Sale:

Like most government entities, the Municipality of Anchorage sells foreclosed

properties through a “sealed bid

sale.” Notice of the Sealed Bid Sale is published in a local newspaper

following the Anchorage Assembly’s approval for the sale. Included in the published notice will be

(

1) a

list of potential properties for sale and minimum bid required,

(

2) the schedule

d sale date,

(

3) date and

Rogue Tax Sale Investor

time sealed bids will be accepted, and

(

4) the date and time of an outcry auction for those properties not

receiving an acceptable sealed bid (if any). A copy of the published notice will also be available on

the

Real Estate Servi

ce’s web page at

www.muni.org/hlb/res.cfm

Bid Packet

Fee

$5.00

A complete bid packet must be prepared for each parcel that you wish to bid on.

There is a nominal fee of $5.00 per bid packet to cover Real Estate Services expenses.

Note: No copies

of bid

packet forms will be accepted

–

iginal

forms only.

Property Profile Fee $2.00:

There is a $2.00 fee for each property profile

, which contain basic

information about the properties slated for sale, and include limited liability reports and

any other per

tinent

information provided by a title company. There will be a property

profile available to purchase for each

property in the sale, and is considered essential in

beginning your research.

Winning Bid:

When the

sealed

bids are opened, they are examined t

o determine that they meet all

qualifications, and the highest qualifying bid is declared the winning bid.

FAIRBANKS NORTH STAR BOROUGH

,ALASKA

http://co.fairbanks.ak.us

LAND MANAGEMENT DEPARTMENT

http://co.fairbanks.ak.us/landmanagement

Director: Paul Costello

Phone:

(907) 459

1241

Email:

property@co.fairbanks.ak.us

The Land Management Department

also responsible for the annual Tax Foreclosure Program which

helps to keep individual property owner's taxes down through the collection of delinquent property taxes.

(1) 2005

Tax Forecl osure Sale

http://co.fairbanks.ak.us/landmanagement/Foreclosure/2004

Our annual Tax Foreclosure Sale is scheduled for Saturday, August 16, 2008. This sale will be on

properties that are delinquent fo

r the tax year 2005 and prior.

It will be held i

n the Assembly Chambers of

the Fairbanks North Star Borough (FNSB) Administrative Office, located at 809 Pioneer Road.

Beginning Monday, June 16, 2008 a current list of properties will be available, along with property

information that will include vario

us books with litigation reports, maps and pictures of the property, land

size, zoning, a

ssessed value and minimum bid.

This

information is available for vi

ewing in the Land

Management Department located at the FNSB Administrative Office, 809 Pioneer

Road

2nd Floor.

Please review our

“

2005

Tax Facts”

(

http://co.fairbanks.ak.us/landmanagement/Foreclosure/2004/05TAXFACTS.pdf

)

for general information

regarding the tax

foreclosure property sale. For further information, please come by our office Monday

–

Friday 8:00 a.m.

–

5:00 p.m. or call (907) 459

1241.

Results of the 2004 Tax Foreclosure Sale held Saturday, August 18, 2007

2004 Tax Foreclosed Property Sale Results

http://co.fairbanks.ak.us/landmanagement/Foreclosure/2004/2004%20Sales.pdf

2004 Tax Foreclosed Property Retention:

http://co.fairbanks.ak.us/landmanagement/Foreclosure/2004/081807propertyretention.pdf

Rogue Tax Sale Investor

(2) 2005 Tax Facts (August 16, 2008)

http://co.fairbanks.ak.us/landmanagement/Foreclosure/2004/05TAXFACTS.pdf

What is the tax foreclosed property sale?

The tax foreclosed property sale is a sale of real properties

which have been deeded to the Fairbanks North Star Boroug

h as a result of delinquent real property

taxes. The legal procedures for the Fairbanks No

rth Star Borough to acquire tax

deeds and hold a tax

foreclosed property sale are provided in Alaska Statutes (A.S. 29.45).

When and where will the tax foreclosure s

ale be hel d?

The tax foreclosed property sale will begin at

9:00 A.M. on Saturday, August 16, 2008. It will be held in the Assembly Chambers of the Fairbanks North

Star Borough Administrative Office, located at 809 Pioneer Road.

Who may participate in thi

s sa le?

Any person who is capable of legally holding title to real property,

and free of any delinquent property taxes.

How can property be pur chased during this sale?

The Ta

x Foreclosure Sale is two

part: (

1) Sealed

Bid and

(

2) Outcry Auction. Bidders su

bmit sea

led bids the week prior to the sale. On s

ale

ay, the bids

are opened and awarded to the highest bidder, then properties that do not receive a sealed bid are

offered in the Outcry Action. The minimum bid is the same for each and consists of back ta

xes, interest

and penalty owed on the property and the administrative costs associated with foreclosure and sale.

How can I submit a Sealed Bid for a property offered d uring this sale?

Bid packets can be picked up

at the Department of Land Management, Sec

ond Floor, Fairbanks North Star Borough Administrative

Office beginning Monday, August 4, 2008. Bids will be accepted beginning at 8:00 A.M. Monday, August

11, 2008 through 5:00 P.M. Friday, August 15, 2008. Detailed instructions on how to submit a bid wil

l be

included in the Bid Packet.

Mail

in bids will not be accepted. Bid packets must be hand delivered.

How can I obtain a bidder

’

s card for the Outcry Auction p ortion of the sale?

Bidders cards can be

purchased at the Department of Land Management, Sec

ond Floor, Fairbanks North Star Borough

Administrative Office from 8:00 A.M. Monday, August 11, 2008 through 5:00 P.M. Friday, August 15,

2008. The cost of a bidder

’

s card is $250.00. This amount must be in the form of cash, cashier

’

s check or

money order.

What guarantees do I have concerning these properties if I should be a successf ul bidder?

None

The Fairbanks North Star Borough does not guarantee title of any kind for properties purchased at the tax

sale. Title insurance may not be available for these

properties. If you need to have the title to this property

insured, you should consult a title company prior to bidding to determine whether title insurance will be

available. Additionally, the Fairbanks North Star Borough does not guarantee the suitabili

ty for any

particular use whatsoever on any of these properties.

What kind of deed will be issued?

A Tax Foreclosure Sale Deed.

How can I find out more i nformation about the properties to be sold?

Properties to be sold are

located throughout the Borough

and include vacant land and properties with improvements. Information

regarding the properties, general location, names of former record owners and minimum bid will appear in

the Fairbanks Daily News Miner beginning Sunday, June 15, 2008. A list of the pro

perties for sale and

detailed property information is available at the Department of Land Management in the Fairbanks North

Star Borough Administrative Office. In a sale of this nature, the former record owners have the right to

repurchase their property u

ntil the close of business (5:00 P.M.) on Friday, August 15, 2008. For the most

date information about available properties contact Tami Sheehan or Dawn Hellickson at the

Department of Land Management

459

1241.

How can I inspect the property?

The B

orough encourages you, the bidder, to personally inspect these

pro

perties before submitting a bid; however, t

he Borough advises you that there may be people living or

conducting business on the property. You should not enter a structure without the occupan

’

permission.

If you are allowed to walk through the structure, please be courteous.

If a structure appears abandoned,

you should still knock before entering. If the doors are locked and there is no easy way of entering the

structure, forced entry is not

authorized.

If you are unable to fully inspect a property before preparing your

Rogue Tax Sale Investor

bid, then you may either refuse to bid or you may submit your bid without the inspection.

Inspections of

these properties are done at your own risk!

What happens if my bid sh

ould be the winning sealed bid?

You or your representative

must be

present to accept the winning bid. If no one is present to accept the winning bid, that bid deposit is

forfeited, and the person with the second highest qualified bid will have an opportuni

ty to accept the

property. Your 25% bid deposit will be credited toward the purchase price. High bidders have three

orking days (August 20, 2008 at 5:00 P.M.) in which to pay the balance of their bids for the properties. If

the balance is not received wit

hin the three days, the down payment is forfeited and the property is

offered to the next highest bidder.

If I am not the successful bidder, how soon can I get my deposit back?

Immediately following the

sale, deposits will be returned to low bidders or th

eir representatives (with power of attorney) upon

presenting picture identifications. Deposits not claimed at the time of sale may be picked up at the

Department of Land Management, Monday through Friday, 8:00 A.M. to 5:00 P.M.

What is a Limited Liability

Report issued by a title company?

This is a report used by the Fairbanks

North Star Borough showing all parties to whom notice is required under A.S. 29.45 prior to foreclosure.

These reports reflect parties with a financial or other interest in the prope

rty and are available for review;

however

it should be understood that they are

not

to be used for the purpose of closing a transaction that

will affect title to said property. It is recommended that potential bidders consult a title officer regarding

mat

ters of record which are important to them.

What happens to tax lien s which appear agai nst a proper ty?

Prior recorded tax liens of the state and

federal government remain a lien against the property and are not extinguished by the FNSB’s tax

foreclosure s

ale to a third party. If you wish to negotiate with the IRS regarding possible discharge of their

liens, contact Jill Pace, Technical Support Advisor, 206

220

5532.

All property is offered for sale “as

is”, “where

is” without recourse against the Fairbank

s North Star

Borough. No representation or warranty, expressed or implied, is made as to the validity of the title, size,

dimension, or condition

of any property, or its suitability for any use or purpose whatsoever. The

Fairbanks North Star Borough accept

s no responsibility for personal property on the premises at any

time.

FNSB personnel are not allowed to give you legal advice or interpret title documents. The FNSB urges

you to consult various professionals, including but not limited to, the US Army Cor

ps of Engineers, Alaska

Department of Environmental Conservation, FNSB Community Planning Department, architects,

engineers, surveyors, title examiners, or a real estate attorney, before making a decision

to bid.

In addition to the above Tax Foreclosure i

nformation, the following is a checklist of some things you may

want to consider before bidding. This list is not all inclusive. These may or may not apply or cover all

aspects that need to be considered on the property you want to bid on.

Checklist

Hav

e you completely read and understood the information provided in the Tax Foreclosure books

(see the FNSB Department of Land Management

–

809 Pioneer Road, 2nd Floor, Borough

Administrative Building, Fairbanks

Alaska).

Have you personally inspected the prop

erty? Is the parcel suitable for your anticipated use?

Have you considered what to do wi

th properties that are occupied;

i.e.

enter into

a landlord

tenant

agreement o

r evict? Are you familiar with the eviction process

–

reference Alaska Landlord Tenant

t guidelines?

Does the parcel have debris or abandoned vehicles that you wish to remove? If so, have

you

researched disposal methods;

i.e.

FNSB Landfill: 459

1482 or Department of Motor Vehicles: 452

1151

Are there any easements or other encumbrances on

the parcel?

Does the zoning of the parcel allow the use you anticipate for it? Is the parcel in a flood zone? Are

there use restrictions (covenants) for the parcel in which you are interested? The Department

Rogue Tax Sale Investor

Community Planning can answer these questions

for you. Call them at 459

1260 for more

information.

Does the parcel have adequate access year around for your vehicle? What provisions will be

necessary for a driveway?

Is the parcel affected by wetlands? Contact the U.S. Army Corps of Engineers at 474

166 for

information regarding wetlands.

Is there possible contamination or has there been illegal activities on the property you wish to bid on?

If so, have you checked with the Alaska Department of Environmental Conservation or other

professionals

;

i.e.

local law enforcement agencies in this area?

Is there a draft Prospective Purchaser Agreement with the Alaska Department of Environmental

Conservation associated with the property you wish to bid on? If so, have you talked with ADEC so

that you fully under

stand all of their expectations and obligations set forth regarding this property and

entered into an agreement with ADEC?

Note: The Draft Prospective Purchaser Agreement found in

the counter book is not effective until you officially enter into the agreem

ent with ADEC. Furthermore,

any prospective purchaser agreement is between you and ADEC. The Borough is not a party to your

agreement.

KENAI PENINSULA BOROUGH

,ALASKA

http://www.borough.kenai.ak.us

LAND

MANAGEMENT DIVISION

http://www.borough.kenai.ak.us/LandManagement/default.htm

The Kenai Peninsula Borough Land Management Division is responsible for the acquisition,

management,

and transfer of real property owned by the KPB.

Borough land is acquired either through

municipal entitlement from the State of Alaska, or by purchase, donation, or tax foreclosure.

The Division conducts annual land sales making Borough land available to

individuals for purchase.

Typically, both tax foreclosure and municipal entitlement lands are included in the sales.

(1) Land Sales

http://www.borough.kenai.

ak.us/LandManagement/KenaiPeninsulaBoroughLandSales.htm

Tax Foreclosure Outcry Auction

Tax foreclosed property is sold at public outcry auction. The Tax Foreclosure Sale is held approximately

September/October of each year providing there are sufficien

t parcels. The auction itself is held in the

Kenai Peninsula Borough Assembly Chambers at 144 N. Binkley Street Soldotna, Alaska. Advertising in

three local newspapers, the Peninsula Clarion, Seward Phoenix Log, and Homer News, begins 30 days

prior to the

auction, once a week for four weeks. In addition to the local newspapers, advertising may also

be present in Anchorage newspapers. Brochures are published in August and are available for pick

up at

the Kenai Peninsula Borough Administration Building, other

borough agencies, and public buildings.

Brochures may also be viewed 30 days prior to the auction on this website. The KPB does not maintain a

mailing list due to costs. The bidder does need to be present at the auction or have a representative with

power

of attorney to bid on their behalf. Bid registration begins at 9:00 a.m. on the day of the auction with

the sale commencing at 11:00 a.m. The bidder may not register by mail. Minimum bid amounts are equal

to unpaid taxes, penalty, interest and costs. The

KPB Assembly fixes these terms of sale via ordinance.

Payment can be made by cash, personal check, cashier’s check, or money order. Credit cards are

currently not accepted. A Tax Foreclosure Quitclaim Deed is used to transfer title.

Results from Previous

Year Tax Foreclosure Land Sales

2007

http://www.borough.kenai.ak.us/LandManagement/TaxForeclosure/2007TXFLOA/2007Results.htm

2005

http://www.borough.kenai.ak.us/LandManagement/TaxForeclosure/TXFResults.htm

2004:

http://www.borough.kenai.ak.us/LandManagement/Documents/TaxForeclosure_Results.pdf

Rogue Tax Sale Investor

(2) Contact Us

http://www.borough.kenai.ak.us/LandManagement/contact_us.htm

Kenai Penin

sula Borough

Land Management Division

144 N. Binkley Street

Soldotna, AK 99669

Phone: 907

714

2200

Fax: 907

714

2378

Email:

lmweb@borough.kenai.ak.us

KETCHIKAN GATEWAY BOROUGH

,ALASKA

http://www.borough.ketchikan.ak.us

BOROUGH LAND SALES

http://www.borough.ketchikan.ak.us/manager/RFP/rfp.htm

344 Front Street

Ketchikan, Alaska 99901

Phone: 907

228

6625

Fax: 907

247

6625

Results of Land Auction

Updated January 30, 2008

The Ketchikan Gateway Borough conducted a pu

blic land auction on May 31,

2007. The results are shown below. If you have questions please contact the Borough Manager's office at

(907) 228

6625 or send an email to the KGB Manager's Office at

r_office@borough.ketchikan.ak.us

ROGUE INVESTOR NOTE

: See web page for result

of tax foreclosed properties

at the sale

MATANUSKA

SUSITNA BOROUGH

,ALASKA

http://www.co.mat

su.ak.us

LAND AND RESOURCE MANA

GEMENT DIVISION

http://www.matsugov.us/LandManagement

Matanuska

Susitna Borough

350 E. Dahlia Avenue

Palmer, Alaska 99645

Phone:

(907)

745

4801

Land and Resource Management Division

Phone: 907

745

869

Fax:

907

745

9635

Email:

lmb@matsugov.us

(1) Tax F oreclosed Properties

http://www.co.mat

su.ak.us/LandManagement/sales.cfm

Tax and LID Fore

closure Sale: no tax foreclosure sale offered at this time.

) Tax and Special Assessment Local Improvement District (LID) Foreclos ure Sal e FAQ’s Flyer

http://www.co.mat

su.ak.us/LandManagement/documents/TaxandSpecialAssessmentLIDForeclosureSaleFAQs.pdf

Rogue Tax Sale Investor

Arizona

Tax Lien Sales:

Yes

Over

the

Counter Tax Lien Sales:

Yes. U

nsold parcels or assignments are “struck off to the

state.

”TheseparcelsarecalledStateCPs

(certificates of purchase)

.StateCPsarepurchased

at the Treasurer’s Office. The

final

date

for purchasing assignments is January 31.

Any

remaining

assignments are prepared for the tax lien sale in February. If a Stat

eCPparcelhas

current delinquent taxes that are scheduled for the February sale, the investor can pay the

current taxes and keep it from going to the annual tax sale. The interest rate for assignments is

the current maximum of 16%.

Tax Deed Sales:

Yes

conducted by the Board of Supervisors.

Over

the

Counter Tax Deed Sales:

Yes

Rating:

Four

Stars (****)

Interest Rate:

16%

Sale Period

ax lien sales

are held

in February.

ax deed sales

can be held any

time

during

the year, but are often in the fall

(November and December) or spring (March and April)

Redemption Period:

3years

for tax liens. No

extended

right of redemption following

the

tax

deed sale.

Bidding Process:

All

tax lien

uctions are by competitive bid, with the winning bidder accepting

lowest interest rate.

Some counties are now conducting their tax lien certificate auctions

online. Otherwise, a

ll bidders must be present to participate in the auction

(no bids by telephone

or mail).

Bidders must fill out a Bidder Information Card (obta

ined from

the

Client Services

Department) and request a Taxpayer Identification Number and Form W

9(obtainedfrom

the

Client Services Department or

the IRS). T

ax liens must be paid in full (all taxes, interest and

fees) by the end of the next day after th

etaxlienhasbeenpurchased.

Over

the

counter liens

and deeds can be bought before or after the yearly auction, either in person or through the mail.

State

Specific Information:

Arizona is one of the most famous tax lien states because

of its

16%

annua

linterestrate;however,taxliensalescanbecompetitive.

Many counties have tax

liens and full parcels of land for sale throughout the year.

Tax lien sale advertisements usually

appear in county newspapers about three weeks prior to the sale. All count

ies are also required

to publish a list online.

Listings of all parcels that are still available after the tax lien sale are

often

available as a

printout or on diskette for $50 from the Client Services Department at the Treasurer’s Office.

Also called as

signment purchasing, potential buyers can send a list of the parcels they want to

purchase to the Treasurer’s Offic

e, along with a certified check, cashier’s check, or

wired money

transfer to purchase tax liens that were not sold at auction.

The foreclosu

re process (going from lien to deed after the redemption period) is a little

complicated for investors. You can start foreclosure proceedings three years from the date of

the tax sale. Recent changes to the foreclosure process may result in the investor ne

eding to

hire an attorney to obtain a judgment deed. Previously, the investor could apply to the court for

adeed.

Rogue Tax Sale Investor

Yavapai County, Arizona Tax Lien Sale

–

Februar y 2004

My partner and I went to the sale in Yavapai County and were impressed. The sale wa

s fair,

the tax liens only got bid down to 6 to 8 percent on average, and there were many properties

available. About 10 percent of the liens did not get bid down at all, and went for 16 percent.

Overall, speaking with other Rogue Investors who have attend

ed Arizona tax lien sales, this is

still an excellent tax lien certificate state.

The following

is a tax lien bidding strategy to consider

in states where the l

ien interest rate gets bid down.

For

raw land in rural areas where the amount of taxes owed per year is small (less than $100

per year), it is sometimes okay to bid the liens down to 0 percent if you are trying to obtain the

deed. This is because you will not earn much interest when the lie

n amount is small. If you

have done your homework and are sure the property does not have environmental problems or

other potential issues that could make it hard to sell, a 0 percent bid is fine. We used this

strategy successfully at one of the Arizona sa

les, and we are fairly confident that at least one of

our winning bids will go to deed

Arizona County Links

See Arizona Tax Sales

http://www.tax

lien

certificates.com

Detailed County

Specific I

nformation:

COCONINO COUNTY

, ARIZONA

http://www.coconino.az.gov

TREASURER’S OFFICE

http://www.coconino.az.gov/treasurer.aspx?id=548

110 E.

Che

rry Avenue

Flagstaff AZ, 86001

Toll free phone:

877

500

1818

Phone:

928

779

6615

Fax:

(928)779

6618

The 2008 Internet Tax Lien Certificate Auction has concluded.

(1) Tax C ertificate Process

http://www.coconino.az.gov/uploadedFiles/Treasurer/Tax%20Certificate%20Process

AZ.pdf

What are tax certificates (Certificates of Purchase)?

Tax due dates and delinquency dates are best

understood by example. In Ari

zona, one half of the property taxes become due October 1, and the

second half the following March 1. The first half of the taxes become delinquent if not paid by 5:00

on November 1 (of 2004 for example), and the second half become delinquent at 5:00

on May 1 (of

the following year, 2005). By the following December (2005), the treasurer in every Arizona county

prepares a list of the properties with delinquent taxes. The list is published in January or February (2006)

and delinquent notices are sen

t to the homeowners stating that a tax certificate will be auctioned on a

specified date if the taxes are not paid.

The tax certificate’s face amount consists of the sum of the following: delinquent real estate tax (may

include previous years

’

delinquent

taxes, penalties and costs), interest from the date of the delinquency,

advertising penalty fee, a charge for the issuance of the tax certificate, and the “Taxpayer Information

Fund” fee.

Tax certificates are a high priority lien against property

which m

eans there are very few other claims

against a property which would be paid before the tax certificate lien. It even supersedes some IRS liens.

Rogue Tax Sale Investor

100

The Auction.

The tax certificate auction must take place during the month of February. (Note: tax

certificates

and the auction of them are governed by Title 42, Chapter 18 of the Arizona Revised Statutes.

All requirements mentioned in this document come from Chapter 18 without the legalese).

To make a simplified analogy, think of the purchase of a tax certificate

as a loan to the property owner. In

return, the investor receives interest on the money loaned.

The tax certificate itself conveys no property rights. It is simply a “loan” carrying an interest rate. However,

if the certificate is not redeemed at the end

of three years, the certificate holder does have the right to

foreclose on the property and take possession after taking all the proper steps.

The county treasurer publishes the delinquent tax list and the auction notice at least one time in a

newspaper of

general circulation in the county. The publication is at least two weeks but not more than

three weeks before the date of sale.

The interest on a certificate ranges from 0 to 16%. Bids are entered with the certificate going to the bidder

willing to take

the lowest interest rate. Simple interest accrues on a monthly basis. If the certificate carries

an interest rate of 12%, then interest will accrue at

1% every month until the certificate is redeemed. If the

certificate is not sold, it becomes the property

of the state, bears an interest rate of 16%, and may be

purchased by visiting the treasurer’s office. Most counties today do not issue paper certificates. The

certificate is kept as an electronic file at the treasurer’s office.

Now you own a tax certific

ate, so what can happen next?

When the owner redeems the certificate,

they pay the delinquent taxes, interest, and assorted fees and costs, and a check is sent out with a notice

to the certificate holder.

The certificate can be sold and transferred to anot

her name.

If subsequent taxes become delinquent, the certificate holder may pay those and add them to the existing

certificate at the original interest rate after June 1 (after the second half taxes have become delinquent

but before they go to auction). S

ome treasurers interpret the statutes in such a way that they will only

allow one Certificate of Purchase to exist on a property at one time. As a result, an individual buying the

current year’s certificate must redeem any outstanding certificates as part

of the process. Paying

“subtaxes” prevents the early redemption of what may be a profitable investment.

After three years, if the delinquent taxes have not been paid, the certificate holder has the right to

foreclose on the property for monies owed.

If t

he certificate holder discovers that they really don’t want to own the subject property (it might have

turned out to be an environmental hazard site or a home that has burned down), and ten years pass

without the certificate being redeemed or the certifica

te property being foreclosed, the certificate expires

worthless.

The entire investment in the certificate is lost. Certificate buyer beware. Know what you are

purchasing.

(2) Internet Tax Certificate Auction FAQ

http://www.coconinotaxsale.com/faq.cfm

(3) Investing in Tax Liens

http://www.coconino.az.gov/uploadedFiles/Treasurer/Tax%20Lien%20Packet_032008

.doc

If you are interested in purchasing a tax lien certificate, please read the following information that is

enclosed in this packet very carefully.

The Internet Tax Lien Certificate Auction is the means of offering delinquent secured property t

es to

participating bidders.

The tax lien on the property is sold to an investor biddin

g the lowest rate of interest.

The highest rate of interest bid is

not to exceed 16%.

There is a $10.00 processing fee per parcel that is a

non

refu

ndable expense to the

investor.

The investor’s payment for the tax lien purchase at the Internet

Tax Lien Certificate Auction must be made via ACH.

You are not purchasing property, only a

tax lien against the property.

A tax lien conv

eys no rights to the

property.

You ma

y not trespass or build on the property, nor should y

ou contact the owner directly.

The

tax lien is simply a “loan” carrying the interest rate of the successful bidder.

Rogue Tax Sale Investor

101

Delinquent real property parcels on the delinquent parcel list may include personal

property that has

been attached to the real property parcel. A tax lien sold on a parcel with attached personal property does

not include the personal property in the certificate of purchase. The tax lien is secured by the value of the

real property only,

regardless of the delinquent tax amount paid. Upon foreclosure of the real property,

the title to the personal property does not convey to the lien holder.

The purchase of a tax lien

is a “Buyer Beware” situation. Y

ou should verify the exact location

of the

parcel on a map in the County Assessor’s Office, County Recorder’s Office or via the County GIS

website.

You are advised to investigate the property, prior to purchasing the tax lien, to determine

whether the property would be of sufficient use or v

alue to you, should you be in a position to obtain a

judg

ment deed at some future date.

The type of real property in the county of Coconino varies

trem

endously. Y

ou should be aware that the property to which you may ultimately obtain a judgment deed

may be

contaminated by toxic matter, subjecting you

to costly cleanup or fines. View the property!!

If you

bid on a parcel at the Internet Tax Lien Certificate Auction, the expectation is that you will have done your

research.

In Coconino County, the officia

l Tax Lien Certi

ficate Auction is held via the I

nternet with bidding

beginning in January with all bids closing or finalized the

third

Thursday in Fe

bruary.

A public notice along

with a delinquent tax parcel list is published in the Arizona Daily Sun, Ariz

ona Newspaper Association and

the Tax Lien

Sale Certificate Auction site.

Contact the Arizona Daily Sun at P.O. Box 1849

Flagstaff, AZ

86002 or call (928) 774

4545 if you wish to obtain a list of the properties that are being offered at the

Tax

Lien Certi

ficate Auction.

The listing

will also be available on the I

nternet at

www.azdailysun.com

or on the

official Coconino County Tax Lien Sale Certific

ate Auction website at

www.coconinotaxsale.com

You can purchase a copy of the tax lien parcel list on CD or hard copy for a fee of $50.00 pl

us postage

of $3.00 for the CD and

$10.00 for the hard copy. If purchasing just before the Tax Lien Certificate

Auction, this lis

ting will become available at the time it

is published in the newspaper.

After the Tax Lien

Certificate Auction, an updated listing will be available on the Coconino County Treasurer’s web site mid

March for tax liens that were left over and become availab

le for over the counter purchase.

Every year we receive requests for the names

and addresses of our investors.

We were informed by

the Coconino County Attorney’s Office that we cannot restrict this information.

Anyone wishing to bid at the annual T

ax Lien Certificate Auction must have a b

idder number assigned

to them.

You will keep the same number each year as long as you hold tax liens in Coconino County

You

may verify your bidder number with the Coconino County Treasurer’s back tax department at

(928)

226

6003 or at (928) 779

6615.

Bidder numbers are assigned between the 1st of January and the day before

the tax lien sale via the Internet Tax Lie

n Certificate Auction website.

The balance of the year, all new

bidder numbers will be issued by the Co

con

ino County Treasurer’s Office.

Forms are included in this

packet and on the Coconi

no County Treasurer’s website at

www.coconino.az.gov/treasurer

You should notify the Coconino County Treasure

r’s Office of any change of address to assure your

prompt receipt of redemption checks.

10.

You will receive a receipt upon payment of purchasing a tax lien indicating the percent rate of interest

you purchased the tax lien at and the C

ertificate of Purch

ase number.

Please keep this for your records

as it also becomes your Certificate of Purchase and is the only form of documentation that shows you

have purchased the tax lien.

11.

Per ARS 42

18151 a real property tax lien may be redeemed by: the owner, th

e owner’s agent,

assignee or attorney; or by any person who has a legal or equitable claim in the property, including the

holder of a tax lien certificate of a different date has the right to redeem a real property tax lien, which has

been sold.

12.

Prope

rty owners must redeem a tax lien through the County Treasurer

’s office.

When the property is

redeemed, the lien is removed and the Certificate of Purchase holder will receive a redemption check for

the amount of the certificate purchase plus the rate of i

nterest it was purchased at.

Rogue Tax Sale Investor

102

13.

If a tax lien has not been redeemed by the homeowner, the certificate of purchase holder must pay

the subsequent taxes each y

ear to protect their interest. Subsequent years’

tax payments will be

accepted on or after June 1

st. For example:

The 2007 subsequent taxes c

annot be paid until June 2008.

The County Treasurer’s office will mail a notice at the end of May to all tax lien certificate holders showing

each certificate held and

the subsequent tax amount due.

The total amo

unt due has been calculated with

terest good through June 30th.

If paying the subsequent taxes after this date, you must contact the

County Treasurer’s office for a new amount because interest is calcula

ted on the 1st of every month.

When you are request

ing information from the County Treasurer’s office for subsequent tax payments,

please state that you are an investor and provide your bidder number.

Subsequent taxes must be paid by

December 31

14.

Three years from the original date the taxes first go

to tax lien sale, you may proceed with a judicial

foreclosure if the property taxes have not b

een redeemed by the homeowner.

To start the foreclosure

process, you may choose to hire an attorney or opt for the Judicial Foreclosure

Self Help Packet that is

provided on the Coconin

o County Treasurer’s web site at

www.coconino.az.gov/treasurer

In the event

that the decision for foreclosure is rendered in the Plaintiff’s favor, the County Treasurer shall iss

ue a

Judgment Deed upon receipt of a certified copy of the judgment together with a fee of $50.00.

ROGUE INVESTOR NOTE

: Web page includes link to Bid Card form and to W

9form.

(4) Bidder Information C ard

http://www.coconino.az.gov/treasurer.aspx?id=6195

(a) Important Notice: Bidder Number Instructions for all

Internet Certificate Auction Participants

As of January 2008, you must register via the Internet Tax Certificate Auction website

to obtain a bidder

number between the first of January and the day before th

e official tax lien sale date.

Current bidders will

maintain their current bidder number and will still register on the Internet Tax Certificate Auction website

to be able to part

icipate in bidd

ing.

New bidders will be assigned a bidder numbe

r at the time of

registration.

The balance of the year all new bidders will be issued a bidder number by the Coconino

County Treasurer's Office.

All

bidders must go through the Internet Tax Ce

rtificate Auction website to register to bid in the In

ternet

Tax Certif

cate Auction.

The SSN or EIN or TIN you provide

must

match the name associated with the

number.

(b) Important Notice: Bidder Number Instructions for

over the counter purchases between

the second

week in March and the end of December

As of June 1, 2007 the county treasurer’s office will require you to have a W

9 form on fil

Please fill out

the

following

forms:

Bidder Information Card, W

9 Form.

Please mail to: Coconino County

Treas

urer, Attn: Tamera, 110 E. Cherry Avenue,

Flagstaff, AZ 86001

.Or

fax to:

Coconino County

Treasurer,

Attn: Tamera at (928) 779

6618

(5)

2008

Delinquent Tax Sale List

http://www.coconino.az.gov/uploadedFiles/Treasurer/web_monthly_updateclkWEBMARCH.htm

ROGUE INVESTOR NOTE

The tax sale list

is available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

(6) Purchasing a

Certificate

http://www.coconino.az.gov/treasurer.aspx?id=561

Bonny K. Lynn,

Treasurer

110 E. Cherry

agstaff

AZ, 86001

Phone:

877

500

1818 or (928) 779

6615

: (928)

779

6618

Rogue Tax Sale Investor

103

he Tax L

ien Certificate Sale will be held via the Internet with bidding b

eginning in January each year.

liens will be sold over the counter between January 1st and March 10th.

If you are inter

ested in purchasing a tax lien

over the counter between March 10th a

nd December 31st,

from the delinquent tax sale list, follow the steps below:

Read Investing in Tax Liens

(

http://www.coconino.az.gov/uploadedFiles/Treasurer/

Tax%20Lien%20Packet_032008.doc

Provide bidder number or complete and sign bidder information card.

Total amount due per parcel is listed on the delinquent tax list.

Payment must be postmarked by the end of the month in which the purchase is made

Mai

l all information to the above address.

For certificates purchased via the Intern

et Tax Lien Certificate Auction

(

http://www.coconinotaxsale.com

)

payment must be made via ACH on the payment wizard on the

tax

sale website.

For over the counter purchases between mid

March and the end of December, we accept

payments in the form of cash, cashier's check, personal ch

eck, money order or credit card,

unless

there are underlying certificates of purchase, which must b

e bought out by the new

investor. We require payment by certified funds when there are underlying certificates.

Research is to

be completed by the investor.

Buyers must beware.

Parcels with a 00 (zero

zero) in the map portion of the parcel number are imp

rovements only; no land

conveys.

Some real property parcels have mobile homes attached, w

hich are not part of the lien.

Again, it is the

responsibility of the investor to research all parcels. You can contact the office of the Assessor for

verification o

f mobile home status.

Maps are available in the Assessor's office or on this website via the Interactive GIS Mapping Site

(

http://gis

map2/ccgisbeta/index.asp

)

. To purchase a tax lien you must have a bi

d number assigned via

the Internet Auction Registration Pro

cess.

The only time the Coconino County Treasurer's office will

sign bidder numbers is between m

March and the end of December. You may verify your bid number

on the Tax Lien Certificate Auctio

n site during the tax lien sale period and with the Treasurer's back tax

department between mid

March and the end of December, at 928

226

6003 or

mail the Back Tax

Department (

http://www.

coconino.az.gov/contact/form.aspx?id=141

(7) Judicial Foreclosure

http://www.coc

onino.az.gov/uploadedFiles/Treasurer/Judicial_Foreclosure_Files/The%20Judicial%20For

eclosure%20Packet%20is%20currently%20being%20revised.doc

The Judicial Foreclosure Pac

ket is currently being revised.

Please contact the Coconino County

Treasurer’s Back

Tax Department for further information.

(8) Notice of Lien and Certificate Expiration

http://www.coconino.az.gov/treasurer.aspx?id=566

Rogue Tax Sale Investor

104

COCHISE COUNTY, ARIZ ONA

http://www.cochise.az.gov

TREASURER’S OFFICE

http://www.cochise.az.gov/cochise_treasurer.aspx?id

Marsha Bonham, Treasurer

1415 Melody Lane

P.O. Box 1778

Bisb

ee, AZ 85603

Phone:

(520) 432

8400

Fax: (520) 432

8438

trsweb@cochise.az.gov

(1) Frequently Asked Questions

http://www.cochise.a

z.gov/cochise_treasurer.aspx?id=54

What happens if real property taxes become delinquent?

According to state law

once

the

delinquency date has passed

simple interest starts to accrue at 16% per year prorated monthly. Whether

paid on the last day of th

e month or the first day of the month, 1.333% will be due each month on the

amount of tax delinquent. After the May 1 delinquent date, if taxes are not paid before the following

January, an additional 5% (minimum $5.00) penalty is assessed. In February, al

l delinquent taxes will be

offered for sale at the annual Tax Li

en Sale. This is a sale of the c

ounty lien on delinquent parcels

–

not

sale of property. Once a property is in the tax lien sale it is

considered a

“back tax parcel”

(

http://www.co.cochise.az.us/treasurer/Cochise_Treasurer_Back_Tax.asp

)

. After three y

ears from the

date of the tax lien sale, the purchaser of the tax lien can foreclose on the lien and acquire

the property.

When is the tax lien sale?

Arizona law requires the

tax lien sale

to be held each February. The Cochise

County tax lien sale is the last Thursday of February

(2) Back Tax

http://www.co.cochise.az.us/treasurer/Cochise_Treasurer_Back_Tax.asp

As of December 31, 2003, by law the Treasurer can no longer process administrative fore

closure for

Treasurer deeds.

Certificates purchased during the 1999 Tax Lien Sal

e and after must process Judicial

foreclos

ure

for the issuance of Treasurer’s deeds.

For the latest up

date Back Tax List, select the desired document format below:

Email Back Tax Department:

treasurerbacktax@co.cochise.az.us?subject=Back%20Tax

Back Tax List (Excel format):

http://www.co.cochise.az.us/treasurer/BKTXLST.xls

Back Tax List (web page format):

http://www.co.cochise.az.us/treasurer/BKTXLST.htm

Back Tax List (PDF format):

http://www.co.cochise.az.us/treasurer/BKTXLST

.pdf

Click h

ere for an important notice regarding court case #2CA

CV 2005

2009 Ulan et al v. Pima

County:

http://www.co.cochise.az.us/treasurer/Tax_Lien_Notice_2CA_CV.asp

(3) Notice of Court Case

http://www.co.cochise.az.us/treasurer/Tax_Lien_Notice_2CA_CV.asp

To: All Investors that Purchase Tax Liens from Cochise County

As of July 1, 200

7, the Cochise County Treasurer shall change the calculation of investment interest

earned on certificates of purchase due to a court case #2CA

CV 2005

0069 Ulan et al v. Pima County.

Investors will no longer receive interest for the tax lien sale month o

f February. Interest will begin with the

month of March. I regret that this action is necessary; however

according to the attorney and auditor the

calculation must be changed.

Rogue Tax Sale Investor

105

I appreciate your support of the Cochise County Tax Lien Sale and look forward

to your continued

support.

Sincerely,

Marsha Bonham

Cochise County Treasurer

ROGUE INVESTOR NOTE

: The back tax list

is available on

the dat

a CD that accompanies this book

(within the file folder “Tax Sale Lists”).

BOA RD OF SUPERVISORS

http://www.cochise.az.gov/cochise_board_supervisors.aspx?id=224

1415 Melody Lane

, Building G

Bisbee,

85603

Phone

(520)

432

9200

Fax

(520)

432

5016

ROGUE INVESTOR NOTE

: Tax deed sal

es are usually held in March (sometimes in April).

MARICOPA COUNTY, ARI

ZONA

http://www.maricopa.gov

TREASURER’S OFFICE

http://treasurer.maricopa.gov

Charles Hosk

ins

, Treasurer

301 West Jefferson

Suite 100

Phoenix

,AZ

85003

Phone: (602) 506

8511

Touchtone: (602) 506

2348

Fax: (602) 506

1102

Email:

Treasurer@Mail.Maricopa.Gov

ROGUE INVESTOR NOTE

: Contact infor

mation

also at

http://treasurer.maricopa.gov/contact.htm

(1) Property Tax Calendar

(2007

2008

)

http://treasurer.maricopa

.gov/taxguide/calendar.htm

(2) Liens and Research

http://treasurer.maricopa.gov/research.htm

Lien tutorial

http:/

/treasurer.maricopa.gov/research/tutorial/tutorial.htm

Research material

http://treasurer.maricopa.gov/research/res_mat.htm

Excess proceeds report

http://treasurer.maricopa.gov/excessproceeds

CP expiration notices

http://treasurer.maricopa.gov/research/cp_expiration.htm

The Tax Lien Sale provides f

or the payment of delinquent property taxes by an investor. The tax on the

property is auctioned in open competitive bidding based on the least percent of interest to be received by

the investor.

Property taxes that are delinquent at the end of December

are added to any previously uncollected taxes

on a parcel for the Tax Lien Sale. The sale takes place in February of each year. Please read the

disclaimer

before deciding to bid, and see our lien FAQ page

(

http://treasurer.maricopa.gov/research/faq_lien.htm

)

and lien history page

(

http://treasurer.maricopa.gov/research/stats.htm

)

Rogue Tax Sale Investor

106

) Research Material Buying Guide

http://treasurer.maricopa.gov/research/res_mat.htm

Research Material Buying Guide Brochure:

http://treasurer.mari

copa.gov/research/ResearchMatl.pdf

ROGUE INVESTOR NOTE

The b

rochure

contains research materials that can be ordered by the general

public. Titles inc

lude “Tax Sale Advertising List

”

and “State CP (Certificates of Purchase) Listing.”

(4) CP Expiration

Notices

http://treasurer.maricopa.gov/research/cp_expiration.htm

If a tax lien that was purchased on or before August 31, 2002 is not redeemed and the purchaser or the

purchaser's h

eirs or assigns fail to commence an action to foreclose the right of redemption on or before

ten years from the date that the lien was purchased, the certificate of purchase or registered certificate

expires and the lien is void pursuant to Arizona Revised

Statute 42

18208

(

http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/ars/42/18208.htm

)

ROGUE INVESTOR NOTE

: See web page for links to Official CP Expiration Not

ifications.

) Frequently Asked Questions

http://treasurer.maricopa.gov/taxguide/faq_gen.htm

What happens if I don't pay my property taxes?

Several things occur. Interest is assessed b

y state law

at 16% per annum prorated monthly. If the taxes are not paid in full within 13 months, an advertising fee

of 5% or $5.00, whichever is greater, is assessed and during the sixteenth month the Treasurer's Office

offers a tax lien on the property

for sale. If the tax lien is not redeemed within three years from the date of

sale, the purchaser may initiate foreclosure proceedings.

) Tax Lien Sale Guide

–

Introduction

tp://treasurer.maricopa.gov/research/tutorial/tutorial.htm

Tax Lien Sale Disclaimer:

http://treasurer.maricopa.gov/research/disclaimer.htm

Tax Lien Sale FAQ:

http://treasurer.maricopa.gov/research/faq_lien.htm

Tax Lien Sale Recommendations:

http://treasurer.maricopa.gov/research/recommendation

s.htm

Lien History Statistics:

http://treasurer.maricopa.gov/research/stats.htm

Tax Lien Sale Brochure (PDF):

http://t

reasurer.maricopa.gov/research/TaxLienSale.pdf

Application for Bidder Number (Bidder Information Card):

http://treasurer.maricopa.gov/research/cp_bidder_card.pdf

Arizona Tax Lien S

ale Calendar:

http://treasurer.maricopa.gov/research/az_calendar.htm

The Tax Lien Sale provides for the payment of delinquent property taxes by an investor. The tax on the

property is

auctioned in open competitive bidding based on the least percent of interest to be received by

the investor.

Property taxes that are delinquent at the end of December are added to any previously uncollected taxes

on a parcel for the Tax Lien Sale. The sa

le takes place in February of each year.

Please read the

disclaimer (

http://treasurer.maricopa.gov/research/disclaimer.htm

) before deciding to bid, and see the lien

FAQ (

http://treasurer.maricopa.gov/research/faq_lien.htm

) page and lien history

(

http://treasurer.maricopa.gov/research/stats.htm

) page.

rcels whose taxes are subject to sale will be advertised, in January, in a Maricopa County newspaper

of general circulation. They are listed by sequence number. Parcels fall into 1 of 2 groups. Each group is

sorted by parcel number.

The advertisement app

ears about three weeks before the auction

and is also posted on the Internet

Copies of the newspaper are usually available for purchase at the Tre

asurer's Office. In addition a

CD of

those parcels can also be purchased.

Rogue Tax Sale Investor

107

The investor is responsible for al

l research on the parcels available for auction. County maps for research

may be obtained by visiting the Maricopa County Assessor's Office. Read our Recommendations

(

http://treasurer.maricopa.gov/research/recommendations.htm

) to all bidders.

Pre

Sale Requirements:

To be eligible to bid, investors must provide the Treasurer's Office with a

completed Bidder Info

rmation Card (

http://treasurer.maricopa.gov/research/cp_bidder_card.pdf

)

and

Request for Taxpayer Identification Number and Certification (IRS Form W

http://www.irs.gov/pub/irs

pdf/fw9.pdf

or W

8). A number will be assigned to each bidder for use when purchasing tax liens.

Proxy B

id P rocedure:

In a live auction, a bidder will lower his bid by one percent increments until he

the only bidder left or until the interest goes below his acceptable minimum level, at which point he would

drop out. Proxy bidding is a form of competitive sale in which bidders enter the minimum interest rate that

they are willing to accept for each

certificate. The auction system acts as an electronic agent, submitting

bids on behalf of each bidder. The result of the proxy system is that the electronic agent keeps lowering

the bid to submit by one percent increments until you a

re either the only bidd

er left

(in which case you get

the certificate at one percent lower than the previous bid)

or until you reach the floor you have set. Zero

percent bids will not be treated as proxy bids. They will be awarded at zero.

If you are the only bidder on a

given certificate and your minimum rate is greater than zero percent, the

electronic agent will submit a bid of 16% on your behalf.

In the case of a tie at the winning bid rate, the system awards to one of the tie bidders through a random

selection proces

s using a random number generator.

In no case will a bidder be awarded a certificate at a rate lower than his specified minimum acceptable

rate.

Certificates that receive no bids will be "struck to the state" at 16%.

The successful bidder will pay th

e entire amount of taxes, interest, and fees via ACH debit by the end of

the next business day. If payment has not been made the parcel(s) may be re

offered.

The sale will continue until all liens are sold or the lack of bidding warrants discontinuing the

sale.

Each investor will receive a Final Tax and Unmatured Portfolio Report identifying each parcel for which

the investor had acquired a tax lien.

When making an inquiry on a property, use the parcel number located in the left column of the Portfolio.

Bid Interest:

Bids must be on the basis of interest income to the bidder:

The maximum bid is 16% simple interest per annum, prorated monthly. The lowest acceptable bid

is 0% per annum.

The successful (lowest) bid will determine the rate of interest to

be paid on the Tax Lien,

representing the amount of taxes, interest, fees and charges then due.

Redemption of Liens:

If the owner and/or agent redeems the property, the investor receives a payment

of what they paid for the lien, less the processing fee, p

lus the prorated monthly rate of interest that was

awarded at the sale.

Deeds:

When a property owner fails to redeem the CP prior to the expiration of three years from the date

the parcel was first offered at sale, the

investor may apply for a court

order

ed deed to the property

(judicial foreclosure). As of December 31, 2003, the Treasurer's Office does not issue Treasurer's deeds

on buyer purchased CPs. All buyer foreclosures are judicial.

Assignments:

Assignments offer the investor an alternative way to

purchase liens on parcels at a time

other than the Tax Lien sale.

The unsold parcels "struck off to state" (State CPs) at the Tax Lien sale are available to investors by

assignment. Assignments will be available upon completion of all Sale Week transact

ions.

Rogue Tax Sale Investor

108

Assignment purchases may be made in person or by mail. Payment must accompany the request.

Available parcels are listed as "STATE CP" on a printout located in the Client Services Department of the

Treasurer's Office.

This listing is available for

purchase in two forms, printout or diskette, for $50 each. It lists the tax amount

and year involved. The buyer will pay the entire amount of taxes, interest, and fees due at the date of the

assignment. Assignment purchases are not allowed during the tax s

ale auction.

Note: If a parcel also has

current delinquent taxes in addition to "State CP" taxes, the investor may purchase both after June 1, and

prevent the parcel from going to the Tax Lien

ale.

Assignment Purchasing:

The buyer will submit a list of d

esired parcels to the Treasurer's Office, along

with a cashier's check, money order, certified check, or wire transfer for the approximate total. The

submittals will be recorded and processed in the order in which they are received. Should the original

pay

ment be in excess of the amount due, a refund will be issued.

Assignment purchases are processed up to the amount received. Parcels not covered by funds on hand

must remain available to other buyers. The interest earned on an assignment will be the curren

t statutory

maximum (16%).

"Assignment" must be specified to prevent an inadvertent processing of a redemption of a Certificate of

Purchase.

Subtax:

Subsequent Tax (Subtax) can be added to an existing lien to protect the investor's fiduciary

interest. T

he subtaxing of the current year's taxes onto

existing lien begins June 1 and ends January

31. All rema

ining taxes go to the Tax Lien S

ale in February.

The investor is responsible for the research of the parcel's unpaid taxes. The subtax consists of ta

xes,

interest, and fees dependent on the date the taxes are being paid. There is an additional $5.00 fee for

each purchase submitted for subtax to be applied for each year requested.

The payment procedure for a subtax is the same as for assignments. The i

nterest earned on a subtax is

the same as that of the original CP.

Transfer of Certificates of Purchase:

If not redeemed, a CP may be transferred by affidavit to another

person who has a Bidder Identification Card on file with the Treasurer's Office. Ther

e is a $10.00 transfer

fee. The Treasurer's Office must be notified of the transfer for it to be valid. The Treasurer pays the

redeemed taxes to the last CP holder on record.

Monthl y Activity Statement:

An Activity Statement will be sent to each CP buyer

listing their

redemptions, purchases, and surrenders. Statements will not be sent for those accounts that have not

had activity.

ROGUE INVESTOR NOTE

: The Maricopa County tax lien sale is

usually

held the

first f

ull week before

President’s Day in February

a) Tax Lien Sale Disclaimer

http://treasurer.maricopa.gov/research/disclaimer.htm

Excerpt

from web page

Pursuant to Arizona Revised Statues, Section 42

18201, you must hold the

certificate for a period of three

years from the date of original offering before initiating an action in Superior Court. You are advised to

investigate, prior to bidding, to determine whether the property would be of sufficient use or value to you

should

you be fortunate or unfortunate enough to be in a position to obtain a deed at some future date.

Legal descriptions are obtained from the assessment and tax roll generated by the County Assessor,

who, by the way, does not guarantee the descriptions are c

omplete or entirely correct. You are advised to

independently verify legal descriptions prior to bidding. Otherwise, difficulties, including obtaining title

insurance, may occur in connection with foreclosure.

Rogue Tax Sale Investor

109

In the event the Board of Supervisors, by res

olution, retroactively cancels a property or corrects the

valuation

or classification of a property,

you may not receive the anticipated interest.

The tax lien you wish to purchase may be rescinded due to a pre

existing stay order from Bankruptcy

Court.

In that case, only your purchase price will be refunded to you at such time as the existence of the

stay order affecting a particular property is made known to the Treasurer.

In the event of bankruptcy proceedings either before or after the sale of the li

en, there is no guarantee the

purchaser of the tax lien will receive the anticipated interest, or any interest whatsoever. The United

States Bankruptcy Cour

t will make that determination.

In the event a property has been split from another property with d

elinquent taxes, there may be tax liens

prior and superior to the one you are purchasing. You are advised to research such genealogy and tax

status prior to bidding.

Due to re

platting, conveyances, etc., real estate may have a different legal descriptio

n and

or different

parcel number for different tax years. Once again, you are advised to research the genealogy of a

property prior to bidding in order to buy all delinquent taxes under all numbers for that property.

So that Maricopa County may report int

erest received by certificate holders in accordance with Internal

Revenue Service regulations, this Office is required by the Federal Government to obtain the tax

identification number of the buyer at the time of purchase of the tax lien. Accordingly, plea

se present your

properly executed form W

9 to the cashier together with your payment. Pay particular attention to any

change in your current business status, s

uch as a new corporation or subchapter “s,”

etc. Processing of

your certificate will not begin un

til a properly filled out W

9 is received

, no exceptions.

New regulations

implemented by the Federal bureaucracy require us to withhold 31% of the proceeds for non

compliance

or incorrect reporting of the tax identification number to the IRS.

You are adv

ised that, pursuant to the laws of the State of Arizona, specifically ARS 42

18116, in the

event a person to whom a tax lien has been sold fails to pay the amount due and the sale has closed, the

Treasurer may recover the amount bid by civil action in a co

urt of competent jurisdiction.

At the completion of each day, you may submit written requests for parcels already offered and not bid

on. The total for these requests will be included in the next session

’s

total.

(6b) 2008 Tax Sale Det ails

http://treasurer.maricopa.gov/research/details.htm

1. The Tax Lien Sale of unpaid 2006 real property taxes will begin on February 1st, 2008. The Treasurer’s

tax lien auction web site should be availa

ble by January 17th, 2008. If you do not have access to a

computer, the Treasurer’s Office will provide public access computers by appointment at designated

locations.

2. To be eligible to bid, you must complete the following steps on the web site:

a) C

omplete online registration

b) Complete IRS Form W

c) Submit a deposit (online via ACH)

d) Establish a budget

e) R

eceive bidder number assignment.

A social security number or tax identification number must be provided for each buyer and must belong

the person listed on the W

9 form. The tax certificate list, redemption checks and 1099 interest earnings

will be issued exactly as indicated on your W

9 form. Until the tax sale is complete, no changes will be

made to the bidder number issued. A change

of name or tax identification number will constitute an

assignment and is subject to

service charge for each certificate changed.

3. A deposit of 10% of your expected bids must be made prior to the close of any batch in which you

intend to submit bids.

A minimum deposit of $500.00 is required for each bidder. All payments must be

made via the Payments Page on the web site. Payments will not be accepted via any other means. There

will be no exceptions to these requirements.

Rogue Tax Sale Investor

110

4. Bidding starts at 16% and i

nterest is bid down until sold. Bids may be made in 1 percent increments. A

"zero" interest bid will get the bidder the certificate with

interest. When your bid is recognized as the

low bid on the Results Page, you are obligated to pay for the certifica

te even if the bid was unintentional.

5. The properties will be auctioned in the order listed in the newspaper. Bidders will be able to begin

entering interest rates on the web site beginning the day that the first newspaper advertisement is

published. So

me items listed in the newspaper and on the web site will not be auctioned due to payments

being received after the list was prepared for publication.

6. After the sale, the successful bidders are given a date by which they must pay the balance due via

H Debit on the Payments Page of the web site. A listing of certificates purchased will be provided to

each buyer. A bidder failing to make payment in the specified time will forfeit the deposit, and the

certificates will be re

sold.

7. The Treasurer reser

ves the right to cancel or correct certificates issued in error. Interest payments may

be affected by bankruptcies, U.S. Marshal seizures, property taken over by a receiver, etc.

8. Caution: This is not a sale of real property. It is a lien for the amount

of delinquent taxes plus interest

and other fees. Contact with property owners initiated by certificate owners to encourage payment at any

time is not recommended. Contact or behavior of a certificate holder deemed unfair or deceptive may

result in crimina

l prosecution. An "Action to Foreclose" filed in the Superior Court three years from the

sale date is the only method to compel payment.

) Frequently Asked Questions

Regarding Tax Liens

http://treasurer.maricopa.gov/research/faq_lien.htm

What happens when property t axes b ec ome d elinquent?

Delinquent property taxes accrue interest at

an annual rate of 16% simple interest prorated monthly. In addition, when a property tax lien is listed

for

sale there are advertising fees ($5.00 or 5%

whichever is greater) plus sale fees.

Are delinquent taxes publicized?

The Treasurer’s Office must publish the list of delinquent taxes at

least once

not more than three weeks before the sale but not le

ss than two weeks. The list is published

in a newspaper of general circulation and is selected by the County Board of Supervisors.

What does the newspaper ad contain?

The place, date and time of the tax certificate sale. A listing of

each parcel showing

the parcel number, delinquent tax amount, the property

owner's name, and the

property’s

legal description. In addition, each listing includes the Assessor’s full cash value of the land,

improvements and any personal property associated with the property. T

he parcels are consecutively

numbered for reference during the sale.

Where can I get a list of delinquent taxes?

The parcel list will be advertised in the Arizona Business

Gazette. The publication date is January 17, 2008. You may also access the list at

www.ananews.com

approximately one week after the publication date.

You can find a copy of this publication beginning January 17, 2008

at any newsstand;

see

www.abgnews.com

or locations.

The Arizona Business Gazette

P.O. Box 194

Phoenix, AZ 85001

0194

Phone:

602

444

7312

May I obtain a list on CD?

Yes, contact the Treasurer's Office at 1

602

506

5850 if interested; the cost

is $25.00 and will be available January 17th,

2008.

What are "tax lien certificates"?

They are a first lien on the real estate. Buyers are provided a listing of

all certificates purchased.

How does someone acquire a tax lien certificate?

At the public auction conducted each February. The

auction

is called a Tax Lien Certificate Sale.

Rogue Tax Sale Investor

111

When is the Tax Sale?

The 2008 Tax Sale will be held Friday, February 1st.

Where will the sale be held?

The Tax Sale will be conducted completely on the Internet.

When are my bids due?

Bids can be submitted on th

e web site once the Advertised List is published on

the Internet, usually in mid January. The advertised list will be divided into several batches. Bids can be

withdrawn or altered at any point up to the closing of the batch on the day of the sale.

Who m

ay participate in the Tax Certificate Sale?

nyone. To participate in the sale a bidder must

The Office requires your legal name, the name of a con

tact person, a valid mailing address, current

phone number, email address, and Tax ID number. To obtain the card and form, you can come into our

office, email us at

treasurer@mail.maricopa.gov

, or downloa

d the bidder form.

Beginning January 11th the registration process may be completed on the Internet via the Tax Sale Web

site. A bidder number is assigned for identification purposes during the sale. Bidders are required to make

a deposit via ACH Debit on

the Tax Sale Web site Payments Page that is 10% of the estimated amount

they intend to purchase. The Treasurer’s Office requires a minimum deposit of $500.00. The deposit may

be increased any time prior to the close of the auction.

What do I do if I for

get my password?

Please be careful to remember your password, as it is the key to

your access to the Tax Sale Web site. If, however, you forget your password, it may be recovered easily

by clicking on the "Forgot your password?" link on the Tax Sale Web si

te home page. When you provide

your matching personal information, a new temporary password will be sent to your registered email

address. This password will need to be changed after your next login.

If one bidder wants to purchase for several buyers, ho

w is this handled?

It is the responsibility of the

bidder to maintain their own accounts.

Will the Treasurer's Office research parcel information for me?

No, the bidder must conduct any

research surrounding potential purchases. Utilize Parcel Inquiry to

research parcel information.

Where may I obtain c opies of the Arizona Revised Statutes t hat pertain to the tax liens?

Statutes

are available online (Title 42, Chapter 18, beginning with Article 3), and at the Mar

icopa County Law

Library, 101 W.

Jefferson

Street, Phoenix

AZ 85003

hone 1

602

506

3461.

What is an Internet auction?

An auction in which bids are transmitted and received through the Internet

using a computer and a web browser.

How does the bidding proceed?

Each item is auctioned in the or

der listed in the publication. The

bidding begins at 16% (the maximum rate) and is bid down. The "winning" bidder's number and rate of

interest are recorded. Any item not bid upon is "sold" to the State.

What equipment or software do I need to be able to

participate?

A bidder must have a computer with

Internet access and a web browser (recommended: Internet Explorer 5.0 or higher on Windows 98, Me,

NT, 2000, or XP; Netscape 7.1 or higher; or Mozilla FireFox 0.8 or higher). If you do not have access to a

omputer, the Treasurer’s Office will supply computers for training and/or bidding by appointment. You

can reach the Treasurer’s office at (602) 506

8511. Also, many public libraries and other buildings make

computers available to the general public.

Who

will show me how to use the Internet auction system?

Users are encouraged to participate in a

Self Demo, Trial Auction or a Guided Demo prior to bidding.

Self Demo

Please click the Demo button on the Tax Sale Web site Home page and follow the

instructio

ns. The instructions are designed to lead users through the auction process.

Trial Auction

Please click the Trial Auction button on the Tax Sale Web site Home page. The Trial

Auction is a simulation of a real auction, in which bidders practice bidding a

nd, subsequently, viewing

auction results.

Rogue Tax Sale Investor

112

Guided Demo

Please contact Auction Support to receive a Guided Demo (which is available only after

user completes the Self Demo). Auction Support will guide the user through the auction process on the

website ov

er the phone at 800

410

3445 x1.

What is a batch?

A Batch is an auction subgroup of the Advertised List that serves as a means of

organizing tax certificates for the purpose of facilitating bid submission. Each tax certificate in each Batch

is auctioned

independently of every other tax certificate and arranged in sequential order with a unique

auction closing time for each Batch.

What is proxy bidding?

In a live auction, a bidder will lower his bid by one percent increments until he is

the only bidder l

eft or until the interest goes below his acceptable minimum level, at which point he would

drop out. Proxy bidding is a form of competitive sale in which bidders enter the minimum interest rate that

they are willing to accept for each certificate. The auct

ion system acts as an electronic agent, submitting

bids on behalf of each bidder. The result of the proxy system is that the electronic agent keeps lowering

the bid to submit by one percent increments until you

are either the only bidder left

(in which cas

e you get

the certificate at one percent lower than the previous bid)

or until you reach the floor you have set. Zero

percent bids will not be treated as proxy bids. They will be awarded at zero.

If you are the only bidder on a given certificate and you

r minimum rate is greater than zero percent, the

electronic agent will submit a bid of 16% on your behalf.

In the case of a tie at the winning bid rate, the system awards to one of the tie bidders through a random

selection process using a random number

generator.

In no case will a bidder be awarded a certificate at a rate lower than his specified minimum acceptable

rate.

Certificates that receive no bids will be "struck to the state" at 16%.

When do the bidders ha ve to pay the amount due for their

purchases?

Bidders will receive an email

invoice on February 1st, 2008 indicating the total amount due, if any. All payments must be made via

ACH Debit on the Payments Page of the Tax Sale Web site by no later than 5:00 p.m. on February 2nd,

2008. Failure

to pay by that date results in the forfeiture of the deposit and makes the certificates

available for re

sale.

What is an ACH debit?

An ACH debit is an electronic funds transfer from your bank account, initiated by

the Treasurer with your prior authoriza

tion. Debits entered on the Payments Page of the web site will be

submitted immediately for processing. Funds must be drawn from a U

financial institution. Some types

of money market, brokerage, and/or trust accounts cannot accept ACH debits. Please che

ck with your

financial institution prior to initiating payment on the web site. For more information on ACH, please visit

the NACHA, the Electronic Payments Association at

www.nacha.org

What happens to my security d

eposit if I don't win any certificates in the auction?

Refund of

unused monies to your account will take about 2 weeks to complete. Refunds are issued via ACH debit

by the Treasurer 7 to 10 business days after the auction date. You will be notified about y

our refund by

email.

How does the holder of the certificate receive the interest income?

The Treasurer remits the

principal (face amount of certificate) and the interest earnings if the property taxes are paid by the owner

or an agent.

Can interest rat

es be changed after the bid?

If a certificate should be cancelled or reduced, the interest

earned will be 10% per year, simple interest or the rate of interest bid at the tax certificate sale, whichever

is less on the cancelled or reduced amount. Bankruptc

y rulings may also affect interest rates.

Why would a certificate be cancelled or reduced?

To correct errors, omissions, or double

assessments and when ordered by a court.

Rogue Tax Sale Investor

113

Are tax sale certificates transferable?

Certificates may be transferred by compl

eting an endorsement

form and paying the applicable fees, prior to redemption.

What about tax cer tificates issued to the state?

State held tax certificates

may be acquired by

individuals after the close of the tax sale. The Treasurer’s Office will announ

ce the date(s) these

certificates become available on the main page of our website.

What is the "life" of a tax certificate?

Certificates are dated as of the date the purchase was made. Ten

years later, if the purchaser has taken no additional action to

foreclose the tax lien, the lien expires and is

voided. No payments will be made to the purchaser. A purchaser may initiate a Judicial Foreclosure

action after three years from the initial purchase date.

What is the tax deed process?

Any certificate hold

er including the County may file an “Action to

Foreclose” in the Superior Court of Maricopa County three years from the date of the sale.

How do we find out what tax liens were not purchased?

The

State CP Report

will be available for

public viewing in ou

r customer service area or you can purchase a CD containing this list for $50.00 after

the sale.

When will the liens not p urchased at the sa le be available?

To be announced at a later date. These

purchases will have additional fees included that are non

interest earning and non

refundable.

Are certificates printed?

The Office is

paperless

; this means Certificates are no longer printed. At the

end of the sale, you will receive an itemized listing of the certificates you purchased including their costs,

ia email from Bid Maricopa. Additionally, the Maricopa County Treasurer's Office will send to you, via

USPS, an activity report on the

third

business day of each month when activity has occurred on any of

your certificates in the prior month. Finally, an u

nmatured portfolio will be sent to you at the end of the first

week of March, via USPS.

How are we notified when liens have been redeemed?

Monthly a

ctivity statements will be sent out the

third business day of each month to

only

those buyers that have ac

tivity in that month. For those

paperless buyers, the Office will process the refund check the same day or following business day. If

multiple redemptions occur in the same day, a person may receive one check for various liens. The stub

will be itemized wi

th the parcel, CP and dollar amount per lien. The Office has the capability to include 11

redemption amounts per check.

) Tax Li en Sale Recommendations

http://treasurer.maricopa

.gov/research/recommendations.htm

Important Notice

As a potential investor of tax liens, you are advised to thoroughly research all aspects

of property you are interested in to determine its value to you.

(See also, Disclaimer

http://treasurer.maricopa.gov/research/disclaimer.htm

)

What You Should Do/Know:

You should independently verify legal descriptions of properties before

bidding. Otherwise, difficulties, including obtaining ti

tle insurance, may occur during foreclosure

proceedings.

You should research genealogy and tax status of properties before bidding. Maricopa County and the

Maricopa County Treasurer make no title warranties on properties at the sale. Neither the County n

or the

Treasurer warrant

title concerning disclosed or undisclosed title problems including any environmental

problems.

You should know that on certain parcels, in addition to the ad valorem taxes offered for a tax lien sale,

there may be special assess

ments due that are unknown to the Maricopa County Treasurer.

You should know that in the event the Board of Supervisors retroactively cancels a property or corrects

the valuation or classification of a property by resolution, you may not receive the anti

cipated interest.

Rogue Tax Sale Investor

114

You should know that the tax lien which you wish to purchase may be rescinded due to a pre

existing

stay order from bankruptcy court. In

that

case, only your purchase price will be refunded to you at such

time as the existence of the st

ay order affecting a particular property is made known to Maricopa County

and the Maricopa County Treasurer.

You should know that in the event of bankruptcy proceedings either before or after the sale of a tax lien,

there is no guarantee that the investo

r of the tax lien will receive the anticipated interest or any interest

whatsoever. The United States Bankruptcy Court will make that determination.

Resources:

A wide variety of research materials on property tax liens are available to the general public

The Maricopa County Treasurer’s Office has computers, and microfiche and microfilm

to research

County and Treasurer’s Office records. A county borders boundary map is displayed in our customer

service area to assist you in determining property locations

. Client Service representatives of the

Treasurer’s Office are available Monday through Friday, between 8:00 a.m. and 5:00 p.m. to assist in

answering tax lien questions.

You may obtain general tax information by

reviewing this website, as well as the As

sessor website

http://www.maricopa.gov/assessor

In addition

to our website

, the Treasurer’s Office offers computer dial

up accounts. For additional information regarding these services, please contact o

ur office at (602) 506

8511. To obtain copies of Arizona Revised Statutes, you may visit the Maric

opa County Law Library at

101 W.

Jefferson Street, Phoenix, AZ, phone

(602) 506

3461, or check out A.L.I.S. (Arizona Legislative

Information Services) at

http://www.azleg.state.az.us

) Tax Lien Statistics

http://treasurer.maricopa.gov/research/stats.htm

Tax Sale History

http://treasurer.maricopa.gov/research/stats.htm#1

Liens Sold

as of 2

/200

http://treasurer.maricopa.gov/research/stats.htm#2

Outstandin

Sold Liens

as of

/200

http://treasurer.maricopa.gov/research/stats.htm#3

Redeemed Sold Liens

as of

/200

htt

p://treasurer.maricopa.gov/research/stats.htm#4

State Liens

as of

/200

http://treasurer.maricopa.gov/research/stats.htm#5

ROGUE INVESTOR NOTE

: Web page also includes tax sale histo

ry for sale years 1997 to 200

) Application for Bidder Number

http://treasurer.maricopa.gov/research/cp_bidder_card.pdf

All participants in the bidding at the

Back Tax Sale

ust be identified before

bidding.

(

g) Arizona Tax Lien Sale Calendar

http://treasurer.maricopa.gov/research/az_calendar.htm

Arizona tax lien sales by county.

BOA RD OF SUPERVISORS

http://www.maricopa.gov/BOS/contact.aspx

301 W. Jefferson, 10th Floor

Phoenix, AZ

85003

Phone:

(602) 506

3416

ROGUE INVESTOR NOTE

: Tax deed sales are

schedule

when

there are

enough properties to

warrant

a sale

(no set time of year)

Rogue Tax Sale Investor

115

MOHAVE COUNTY

, ARIZONA

http://www.co.mohave.az.us

TREASURER’S OFFICE

http://legacy.co.mohave.az.

us/depts/bos/bos_default.asp

(1) Tax Lien Sale

http://www.co.mohave.az.us/ContentPage.aspx?id=132&cid=223

This year

’

s Tax Lien Sale will be held online by Realauction.com

www.mohavetaxsale.com

The total dollar amount purchased from the 2008 annual tax sale was $1,405,655.78. Tax liens sold on

3091 parcels.

We are accepting assignment requests as of 8:00

, April 2, 2008.

Dow

nload p

arcels available for assignment:

http://resource.co.mohave.az.us/File/Treasurer/parcelsavailableforassignment.pdf

Each year, no further a

ssignments w

ill be accepted after the last Friday in November, until the Tax Lien

Sale is complete.

Download Sale Information

http://resource.co.mohave.az.us/File/Treasurer/taxsal

einstructions.pdf

We suggest you print the form and read it carefully. Although we are happy to answer inquires, many

questions can be answered after reading the form.

Download Assignment Requests

http://resource.co.mohave.az.us/File/Treasurer/assignmentrequest.pdf

We suggest you print the form and read it carefully. Although, we are happy to answer inquires, many

questions can be answered after reading the form.

Download Judicial For

closure Procedures

http://resource.co.mohave.az.us/File/Treasurer/QuietTitleInstructionspurchaser.pdf

Download 2008 Tax Sale Resul

http://resource.co.mohave.az.us/File/Treasurer/2008taxsale_results.pdf

The report is lengthy, about 100 pages. It includes all parcels in the 2008 tax lien sale.

Bidder numbers

are not included. If a parcel had been bid to 0% or 16% it may be available for assignment request.

Download W9 Form

http://resource.co.mohave.az.us/File/Treasurer/fw9

.pdf

2008 Tax Sale Parcel List

http://legacy.co.mohave.az.us/depts/treas/tax_sale.asp

For inquires about assignment requests contact our office

928

753

0737.

Connie Wenerstrom

, ext 4279,

connie.wenerstrom@co.mohave.az.us

Dolores Valdez, ext 4126

dolores.valdez@co.mohave.az.us

Shondi Dunlap, ext 4132

shondi.dunlap@co.mohave.az.us

ROGUE INVESTOR NOTE

: The tax sale list is available on the data CD that accompanies this book

(within the file folder “Tax Sale Lists”).

(2) Judicial Foreclosure Procedures

http://legacy.co.mohave.az.us/depts/treas/QuietTitleInstructionspurchaser.pdf

Judicial Foreclosure Right to Redeem Tax Lien

Certificate

(“Quiet Title Action”)

Rogue Tax Sale Investor

116

See Ariz

ona Revised Statutes,

Title

42,

Article

5, Sections 42

18201

through

18208

(located online at

http://www.azleg.state.az.us

)

Disclaimer: Treasurer’s Office staff cannot give legal advice; however, the follo

wing information may be

helpful to you in processing a Quite Title Action through the Mohave County Treasurer’s office.

Please reference the parcel number on all documents.

Step A: Lien holder mails a letter of intent to start a “Quiet Title Action.” (A

RS 42

18202)

Must be mailed by Certified Mail

Copy mailed to the Mohave County Treasurer

Step B: After filing a complaint and summons with Superior Court

Copy goes to Treasurer to flag the file in case owner calls to redeem parcel.

Step C: Before going

to court for judgment

1. When submitting an affidavit for execution by the Treasurer’s office:

equests should be made five

working days notice before the court date. Due to recent increased

volume of requests we cannot ensure timely completion of the af

fidavit without sufficient advance

notice.

Can verify only that the information stated in the affidavit is accurate.

Will indicate on the affidavit the amount of taxes and penalties due at the time the affidavit was

completed.

Cannot ensure timely processe

d reassignments unless reassignment forms are submitted five

days before the Affidavit is submitted to the Treasurer’s office (due to increased volume of

reassignments).

We strongly suggest that you review the tax certificate you are going forward

with to

ensure commencing the lawsuit in the name of the correct plaintiff to avoid this issue.

Cannot accept reassignments without payment. All unpaid reassignments will be returned.

Please include a cover sheet with the Affidavit that indicates the date and time

of court, to assist

us in timely processing your request.

The affidavit will be signed by the Treasurer, Chief Deputy Treasurer, or other Deputy Treasurer.

The Treasurer’s office will ensure that the affidavit is notarized.

The Treasurer’s office will

not

deliver the affidavit to court.

2. When not requesting an affidavit from the Treasurer:

Please notify Treasurer’s office five days before court date, to allow the file to be pulled to provide

you with the necessary information on the day of the hearing.

Call the Treasurer’s office the same day of the hearing to inquire whether the property has or has

not been redeemed.

Step D: Upon obtaining Order foreclosing the right to redeem

Provide a copy of the Order.

Provide $50 per parcel processing fee to the T

reasurer.

Upon receipt of both the Treasurer’s Deed will be processed.

It is your responsibility to ensure all steps are complete.

BOA RD OF SUPERVISORS

http://legacy.co.mohave.az.us

/depts/bos/bos_default.asp

(1) Tax D eed Auction

http://legacy.co.mohave.az.us/depts/bos/clerk_bos.asp

Barbara Bracken, Clerk of the Board

700 W.

Beale Street

Kingman, AZ 86401

Phone

928

753

0731

Rogue Tax Sale Investor

117

(1a) Registrati on F

orm

http://legacy.co.mohave.az.us/depts/bos/registrationsheet.pdf

(1b) BOS Lan d Sale List

http://legacy.co.mohave.az.us/depts/bos/2008boslandsalelist.pdf

List of Real Property in Mohave County, Arizona, Held by the State of Arizona by Tax Deed

March 18, 2008

oard of Supervisors Auditorium,

700 W. Beale Stree

t, Kingman, Arizona

Registration begins at 8:30 A.M.

uction begins at 9:30 A.M.

(1c) Auction Information

http://legacy.co.mohave.az.us/depts/bos/Auctioninfo.pdf

Notice of Sale by

Public Auction of Real Property Held by the State of Arizona by Tax Deed

Notice is hereby given that the Mohave County Board of Supervisors (the "Board") will sell real property

located in Mohave County, Arizona, and held by the State of Arizona by Tax

Deed at Public Auction to the

highest bidder for cash starting at 9:30 A.M. on March 18, 2008, in the Mohave County Board of

Supervisors Auditorium, 700 W. Beale Street, Kingman, Arizona, 86401.

Those persons wishing to bid at the Auction are encouraged t

o arrive between 8:30 A.M. and 9:30 A.M.

on the day of the Auction to apply for a bidder number. A List of Real Property in Mohave County, Arizona

held by the State of Arizona by Tax Deed (the "List") and an Auction Registration Form can be found on

the Mo

have County website (

www.co.mohave.az.us

). In order to expedite receipt of a bidder number,

bidders may wish to fill the Registration Form out in advance and bring it with them for submittal to the

County on the

day of the Auction.

Pursuant to A.R.S. Section 42

18303, the Board may sell the real property on the List for cash to the

highest bidder meeting or exceeding the minimum bid amount established by the Board and set forth on

the List, and after such sale, t

he Board will execute and deliver to the purchaser, at the purchaser's cost,

a deed conveying the title of the State of Arizona in and to the parcel purchased to the purchaser. The

Board reserves the right to accept or reject any bid and/or withdraw any pa

rcel from the Auction, if the

Board deems that such action will benefit the public interest.

Bidders are responsible for fully investigating the properties and understanding what they are bidding on

prior to bidding. All properties are sold on an “As Is,

“Where Is” basis, and each bidder purchases at his or

her own risk. All zoning, building, and real estate laws and regulations still apply to the properties,

including, but not limited to, minimum lot size requirements, subdivision rules, and sewage and wa

ter

requirements. No warranties or representations are made by the state or county or any representative of

either the state or county as to any of the properties sold, including, but not limited to, any warranties or

representations regarding the use, usa

bility, marketability, condition of title, boundaries, or value of any

property sold, claims or liens affecting any property sold, the ability of a purchaser to obtain title insurance

on any property sold, the availability of water, utilities, irrigation,

sewers, access, ingress or egress, street

or road improvements or maintenance, zoning, suitability for building, flood plain status, or any physical or

environmental characteristics relating to the property. Title insurance companies may require a quiet ti

tle

action prior to issuing title insurance on any of the properties sold.

All sales are final upon acceptance of the final bid by the Auctioneer. Successful bidders are required to

pay for the property purchased in full on the day of the sale. Acceptable

forms of payment are cash,

cashier's check, personal check with valid State picture identification, or money order for the full amount

bid. If any bidder fails to pay the required amount on the day of the sale, such failure will be forwarded to

the Board

and the County Attorney's Office to pursue all legal action thereon available to the County. No

refunds will be made.

Questions regarding this sale should be directed to the Clerk of the Board's Office, P.O. Box 7000, 700

W. Beale Street, Kingman, Arizona

86402, Telephone Number (928) 753

0731.

Rogue Tax Sale Investor

118

PIMA COUNTY, ARIZONA

http://www.pima.gov

TREASURER’S OFFICE

http://www.to.pima.gov

Beth Ford, Treasurer

(1) Contact Information

http://www.to.pima.gov/contact.html

Pima County Treasurer's Office

115 North Church Avenue

Tucson, AZ 85701

1199

Phone: (520) 740

8341

Fax: (520) 884

4809

Email:

TOwebmaster@pima.gov

(2) Frequently Asked Questions

http://www.to.pima.gov/faq.html

What happens if my taxes go delinque nt?

According to state law, once the delinquency date has

passed interest sta

rts to accrue at 16% per year prorated monthly. That means you will pay 1.333% on

the amount of tax due whether you pay on the last day of the month or the first day of the month. For

taxes that are not paid before January of the following year, an additio

nal $5.00 or 5% penalty is

ssessed. In February, those delinquent taxes will be offered for sale at our Delinquent Tax Lien Sale.

This is a sale of the lien for delinquent taxes

not your property. After three

years from the date of the

sale, the purchase

r of your taxes can foreclose on the lien and acquire your property.

When is the Delinquent Tax Lien Sale?

We hold our Delinquent Tax Lien Sale the last week in

February. No auction takes place on Tuesday because the Pima County Board of Supervisors meet

s on

that day. The sale usually

ends Thursday or early Friday.

ROGUE INVESTOR NOTE

: The tax lien sale date is usually the last Monday of February.

(3) Tax Lien Sale Information

http://www.to.pima

.gov/tax_lien_sale.html

2008

Tax Lien Sale:

http://www.to.pima.gov/resource/2008_Tax_Lien_Sale_Booklet.pdf

Expiring

Liens:

http://www.to.pima.gov/resource/expiring_liens.pdf

Bankruptcies:

http://www.to.pima.gov/resource/bankruptcies.pdf

Reassignment Form:

http://www.to.pima.gov/resource/reassignment_form.pdf

County Map:

http://www.to.pima.gov/resource/bookmap.pdf

)

2008

Tax Lien Sale Informat ion

http://www.to.pima.gov/resource/2008_Tax_Lien_Sale_Booklet.pdf

ROGUE INVESTOR NOTE

: Table of Contents: Disclaimer, Recommendations, Definition and Procedures

of a “Tax Lien Sale,” T

he Deeding Process, Redemption of a Tax Lien Certificate, New Assignment

Purchases, Subsequent Tax Purchases, Expiration of Tax Liens, Contact Information.

(3b) Expiring Liens

http://www.t

o.pima.gov/resource/expiring_liens.pdf

List

of the

names of lien

holders who presently hold liens

which will be subject to expiration per Arizona

Revised Statutes

Section 42

18208 B.

Rogue Tax Sale Investor

119

(3c) Bankruptcies

http://www.to.pima.gov/resource/bankruptcies.pdf

Parcels flagged

as bankruptcies as of January 19,

200

BOA RD OF SUPERVISORS

http://www.pima.gov/bos/bos1.html

130 W. Congress, 11th

Tucson, Arizona 85701

Receptionist phone:

(520) 740

8126

Fax:

(520) 884

1152

REA L PROPERTY SERVICES

(PUBLIC WORKS, DEPARTMENT OF TRANSPORTATION)

http://www.dot.pima.gov/realprop

Christina Biggs, Manag

Public Works Center

201 North Stone Avenue, 6th Floor

Tucson, AZ 85701

1207

Phone: 520

740

6313

Fax: 520

740

6763

(1) Application for Sale of Treasurer Deeded Prope rty at Public Auction

http://www.dot.pima.gov/realprop/pdfs/ApTreasD.pdf

PINAL COUNTY

,ARIZONA

http://pinalcounty.az.gov

TREASURER’S OFFICE

http://pi

nalcountyaz.gov/Departments/Treasurer/Pages/Home.aspx

Pinal County

Treasurer

31 N

Pinal Street

Building E

Florence, AZ 85232

Phone:

520

509

3555

Toll free:

888

431

1311

Fax:

520

868

9007

Email:

Cus

tomerService@co.pinal.az.us

(1) Tax Lien Sale Information

http://pinalcountyaz.gov/Departments/Treasurer/Pages/TaxLienSale.aspx

Definition:

The Pinal County Tax Lie

n Sale is held in February of each year in compliance with Arizona

Revised Statutes Section 42

18112. The sale involves the delinquent taxes for the previous tax year.

It should be understood that the Treasurer is offering for sale and you are purchasing

tax lien

on the

property only. You have no right to enter upon, build on, or sell this property until you have obtained a

deed. The property subject to the tax lien sale for delinquent taxes will be published in the Florence

Reminder and Blade

Tribune. A

copy of the list may be purchased at the Treasurer's office or by

contacting the newspaper office at P.O. Box 910, Florence, Arizona 85232 or call (520) 868

5897. The

sale information and all eligible tax liens are also available on the Treasurer's websit

http://pinalcountyaz.gov/Departments/Treasurer

Bidding Process:

The

sale will be conducted on the I

nternet via the Treasurer

’s

website. The tax lien

auction will begin at 9:00 a

(MS

our server time) on February 21st, 2008 and close at 4:00 p

(MST

our server time) on February 21st, 2008.

Rogue Tax Sale Investor

120

All parcels will be offered for sale in the order in which they appear in the Florence Reminder and Blade

Tribune.

All sales are final

. All p

urchasers are required to deposit $500 with the Pinal County Treasurer at

least 48 hours prior to the sale. Purchasers are required to "Checkout" in order to pay for the parcels

successfully bid upon at the conclusion of the sale.

The bidding will begin

at sixteen percent (16%) and shall be awarded to the bidder who offers to accept

the lowest rate of interest.

Amount of Purchase:

The amount in the legal advertisement shows the taxes being offered for sale, as

well as the prior year(s)

’

delinquent taxes

, and all interest, fees and penalties now owing on the property.

This is the amount you must pay to become a successful bidder. The parcels appearing in the newspaper

with an (*) after the total amount include delinquent taxes which are due on a parcel fr

om which the

advertised parcel was split. We advise all purchasers to research these parcels prior to the tax sale.

Payment for Certifi ca t e:

The total purchase amount is expected to be paid at the end of the sale. At the

time payment is received, you will

be issued a receipt for the purchase of a registered tax lien certificate

for each parcel.

Bidder Registration:

To become an eligible bidder, you must fill out a bidder information form, a W

9 and

have $500 on deposit with the Treasurer. A bidder number

, login and password will be assigned to you

upon completing the registration process. It is your responsibility to provide banking information and

initiate a deposit for the tax lien sale.

Subsequent Taxes:

After the purchase of a tax lien certificate,

you may pay

each year, subsequent

taxes until redeemed. Subsequent taxes for the current tax year cannot be paid before June 1st, of the

succeeding year. Any person paying subsequent taxes, accrued interest and related fees then due upon

the real property

for which he/she holds a certificate of purchase, shall be given a treasurer receipt for the

subsequent taxes paid. The amount paid will be electronically added to the face value of the registered

certificate and endorsed by the treasurer as required by l

aw (ARS 42

18121). The county treasurer shall

collect a fee of five dollars ($5.00) from the holder of the certificate (ARS 42

18121).

Redemption of a Tax Lien Certificate:

Any time during the period you are holding the tax lien certificate,

it is subject

to redemption by the property owner, his agent, assignee, attorney, or by any person having a

legal or equitable claim therein, including a purchaser of a certificate of a different date (ARS 42

18151/18153). Should the tax lien certificate be redeemed an

y time prior to deeding, you will receive the

purchase amount, less non

refundable fees, plus the rate of interest bid at the time of the sale, not to

exceed 16%. If purchased at the tax lien sale, interest will accrue from February 1 and each month

therea

fter until redeemed (ARS 42

18153). Any portion of a month counts as a whole month (ARS 42

18053).

Deeding Process:

In order for you to obtain a deed to the property purchased by a tax lien, you must

hold a tax lien certificate for three years from the da

te the certificate was offered for sale, then bring a

foreclosure action in a court of competent jurisdiction within Pinal County to foreclose on your lien (ARS

18203/18204).

Know What You Purchase:

You are urged to inspect all property before making a

bid thereon. Pinal

County and the Pinal County Treasurer

not warrant title concerning disclosed or undisclosed title

problems including any environmental problems. Bidders should understand that on certain parcels, in

addition to the ad valorem taxes o

ffered for a tax lien sale, there may be special district assessments due

which will have to be paid current and each subsequent year until paid in full. These parcels may also

have city assessments as well as irrigation assessments, unknown to the Treasur

er.

If the pro

perty on which you are bidding

has an older certificate already upon it, you will be sold the oldest

certificate available. If there is an older certificate which has been purchased by a previous buyer, you are

required to redeem that certif

icate. Prior certificate amounts redeemed will be added to your new

certificate.

Refund Policy:

All tax lien certificates purchased are done so with the full knowledge of the purchaser

that there could be outstanding legal reasons, unknown by the Treasure

r at the time of the sale or

Rogue Tax Sale Investor

121

occurring after the sale, that would make the lien unenforceable. Should this occur, the successful bidder

may recover the amount he has paid less the non

refundable fees.

If the Treasurer is notified of a bankruptcy after the

tax lien has been purchased, you will be notified by

the Treasurer who will also advise the bankruptcy court that you are the real party of interest. You will

then have to respond to the Bankruptcy Court. A sale of property in bankruptcy unknown to the Tr

easurer

is not in violation of the general stay. In no event will this be considered an illegal sale and the Treasurer

is not obligated to repurchase the certificate.

Fee Schedule:

A non

refundable purchase fee will be added to each parcel sold. A purchas

e up to

$400.00 will require a purchase fee of $5.00; any purchase $400.00 or over will require a purchase fee of

$10.00 (ARS 11

495 & 42

18116(c).

Certificate of Purchase fee of $10.00 is added for each parcel sold and will be included in the certificate

amount (ARS 42

18118(d).

Subsequent tax fee is $5.00 (ARS 42

18121(b).

Resale or Assignment of tax

liens is $10.00 (ARS 42

18122(b).

Court ordered deed fee of $50.00 will be charged for each parcel (ARS

18205).

State Deed Sale:

In addition to the tax

lien sale described above, the Pinal County Board of Supervisors

conducts a sale of parcels of land that have been deeded to the State of Arizona after taxes are seven

years old and have not been purchased by an individual (Article 7 ARS 42

18301). For mor

e information

concerning these parcels, please contact Mr. Gary Medina, Special Services Administrator, at

gary.medina@co.pinal.az.us

, by phone at (520) 866

6206, or by mail at P.O. Box 827, Florence, Ariz

ona

85232.

(1a)

2008 Tax Lien Sale

Information Booklet

http://pinalcountyaz.gov/Departments/Treasurer/Documents/Downloads/TaxLienBooklet.pdf

ROGUE INV

ESTOR NOTE

: Table of Contents are Introduction, Definition of a “Tax Lien Sale,” Bidder

Registration, The Deeding Process, Redemption of a Tax Lien Certificate, Treasurer Contact Information,

Refund Policy, Important Bankruptcy Information, Subsequent Taxe

s, Know What You Purchase, State

Deed Sale, Fee Schedule, Internet Auction Procedures.

(1b) On

line Tax Lien Sale Instructio ns

http://pinalcountyaz.gov/D

epartments/Treasurer/Documents/Downloads/TaxLienBooklet.pdf

(

) Certificates Due to Expire

http://pinalcountyaz.gov/Departments/Treasurer/Documents

/Downloads/ExpiredCertificates.pdf

) Purchase Available Tax Liens

http://pinalcountyaz.gov/Legacy/Treasurer/TaxSale/Login.aspx

Tax lien sale date: usually the first week o

February

http://apps.co.pinal.az.us/Treasurer/Search/index.asp?T=TLSale

= Tax Lien Sale

http:

//apps.co.pinal.az.us/Treasurer/Search/index.asp?T=TLSearch

= Tax Lien Search

http://apps.co.pinal.az.us/Treasurer/TaxSale/TaxSaleResults.asp

= Tax Sale Results

Board of Sup

ervisors

http://pinalcountyaz.gov/Departments/BoardofSupervisors/Pages/Home.aspx

ROGUE INVESTOR NOTE

: According to the Treasurer’s Office, the

Pinal County Board of

Supervisors

conducts a sale of parcels of land that have been deeded to the State of Arizona after taxes are seven

years old and have not been purchased by an individual (Article 7 ARS 42

18301). For more information

concerning these parcels, contact Mr. G

ary Medina, Special Services Administrator, at

gary.medina@co.pinal.az.us

, by phone at (520) 866

6206, or by mail at P.O. Box 827, Florence, Arizona

85232.

Rogue Tax Sale Investor

122

PRIVATE SECTOR TAX SALE ADMINI STRATORS

REAL A

UCTION

http://www.realauction.com

(1) List of County Auctions

http://www.realauction.com/template.cfm?r=LeftMenu/ListCountya

uctions

Arizona

online auction

open in

January

and

end during February.

Practice website

–

Arizona counties,

visit

http://www.arizonataxsale.com

ew auction every day

)

Coconino County

visit

http://www.coconinotaxsale.com

(now closed)

Mohave County

visit

http://www.mohavetaxsale.com

(now closed)

Yavapai County

visi

http://www.yavapaitaxsale.com

(now closed)

(2) Realnews

http://www.realauction.com

, left

hand column

Announcements include upcoming tax sale auctions.

(3) Contact Information

http://www.realauction.com/template.cfm?r=Contactus/Enquiries

Realauction.com, LLC.

Corporate Headquarters

861 SW 78th Avenue

Suite 102

Plantation, FL 33324

Phone:

954

734

7400

ax: 954

424

7601

Email:

info@realauction.com

Customer support email:

customerservice@realauction.com

Rogue Tax Sale Investor

123

Arkansas

Tax Lien Sales:

Tax Deed Sales:

Yes

.TheState

Land Commission

handles all county tax sale auctions. Mail

bids are accepted if received seven

days before the sale. If a mail

in bid is received, bidding will

start at that amount.

Over

the

Counter Tax Deed Sales:

Yes. Tax

defaulted prope

rties that are not purchased at a

county’s annual tax deed sale will be available on the negotiated sales list 90 days after the

sale. These properties may be purchased by mail or in person at the Commissioner of State

Lands Office

(

http://www.cosl.org

)

.Topurchase,youmustsubmitasealedbid.Thefirst

negotiated sales bid starts a 30

day process

during which

anyone else can submit a closed bid.

The highest bidder wins, but the property owner still has 30 days to red

eem. If the property

owner redeems, the investor will be refunded his

/her

money, with no interest.

Rating:

Three Stars (***

)

Interest Rate:

Not applicable to

Arkansas’

tax deed sales.

Sale Period

Depends on the county. Tax deed sales

are conducted thr

oughout the

year. Call

(501)

324

9222 to find out when sales will be held. Anyone can be placed on a mailing list

for a

catalog

of available properties by contacting the Commissioner of State Lands.

The c

atalog is

free.

The c

atalog lists properties for sal

e, and minimum bid amounts (equal to assessed land

value, taxes due and any other fees).

Be sure to check the website for the latest redemptions.

Redemption Period:

Property owners have a 30

day

extended

right of

redemption following the

tax deed

sale. If

redeemed, the investor receives

his/

her money back with no interest

If not

redeemed, the investor receives a limited warranty deed to the property.

Bidding Process:

At tax deed sales, all auctions are by competitive bid.

The minimum bid is

generally se

tattheassessedvalue,whichisroughly20percentoftheappraisedvalue.The

bidder is also responsible for back taxes and fees. The w

inning bidder pays

the

highest value

for

the

property. Bids can be in person at auction or by mail.

If bidding at the

auction, you must

pay the first $100 with cash, cashier’s check or money order.

If bidding by mail,

the

Commissioner of

State

Lands must receive

the

entire bid amount seven days prior to the

auction. Properties not sold at auction are offered for

sale

90 d

ays after the

auction

.Properties

that did not sell are broken into three categories: S

2LandSales(

less than one year has

elapsed since first offered at auction

), S

3LandSales(

more than

one year

has elapsed since

first offered at auction

)

and S

4La

dSales(morethantwoyearshave

elapsed since first

offered at auction)

4LandSalesarenegotiable,sincethecountywantstogetridofthese

properties.

Legal Challenge Period:

Arkansas

has a two

year litigation period during which the sale can

be challenged. For S

4properties,thelitigationperiodmayonlybe90daysifthepropertyis

classified as a “lot.”

State

Specific Information:

Arkansas is probably one of the best states fo

rtaxdeedsales;

however, the two

year litigation period make

sclearingthetitledifficult.

Rogue Tax Sale Investor

124

Laws Governing the Redemption and Sale of Tax Delinquent Land

§26

101. Transfer of tax

delinquent lands.

(a) (1) All lands upon which the taxes have not been paid for two (1) years following the date the

taxes were d

ue, October 10, shall be forfeited to the State of Arkansas and transmitted by

certification to the Commissioner of State Lands for collection or sale.

(2) No tax

delinquent lands shall be sold at the county level.

(b) The county collector shall hold all

tax delinquent lands in the county for two (2) years after

the date of delinquency, and if not redeemed by the certification date, which shall be no later

than July 1 of the following year, the collector shall transmit it to the state after notice as

provi

ded in this chapter indicating all, taxes, penalties, interest, and costs due and the name

and last known address of the owner of record of the tax

delinquent land.

State of

Arkansas in care of the Commissioner of State Lands.

§26

102. Publication of notice

–

Fee.

(a) The county collector in each county shall,

not less than thirty (30) days n

or more than forty

(40) days prior to the certification of the land, caus

etobepublishedinanewspaperofgeneral

circulation in the county:

(1) A list of real property not previously redeemed;

(2) The names of the owners of record;

(3) The amount of the taxes, penalties, interest, and cost necessary to be paid to redeem the

property;

(4) The date upon which such period of redemption expires; and

(5) Notice that unless the property is redeemed prior to the expiration of the period of

redemption, the lands will be forfeited to the state.

(b) Fees for the publication shall be t

he same as set forth in § 26

108.

§26

103. Verification by county assessor.

(a) Prior to certification to the Commissioner of State Lands, the county assessor shall:

(1) Verify the assessment to establish value on all parcels to be certified;

(2) Ve

rify the name and last known address of the owner of record of the tax

delinquent land;

and

(3) Determine whether the tax

delinquent land exists;

(b) If the land is found to be nonexistent, the county assessor shall remove the delinquent entry

from the ass

essment rolls.

delinquent lands shall be certified to the Commissioner of State Lands without the

assessor's verification.

§26

104. Cost of notices.

All costs of notice shall be added to the costs to be collected from the purchaser or redeem

er.

§26

105. Collection fee.

The Commissioner shall charge a twenty

five dollar ($25.00) collection fee against each parcel

of tax delinquent land which has been certified to his office.

§26

201. Publication of notice

–

Fee.

(a) The Commissioner o

fStateLandsshallpublishanoticeofsaleoflanduponwhichthead

valorem property taxes have not been paid in a newspaper having general circulation in the

county wherein the land is located. The publication fee for the notice shall be the same as se

forth in § 26

108.

(b) The notice shall:

(1) Contain the assessed value of the land;

(2) Contain the amount of taxes, interest, penalties, and other costs due on the land;

Rogue Tax Sale Investor

125

(3) Contain the legal description of the land;

(4) Contain a list of all record

ed liens against the land that are known to the Commissioner of

State Lands; and

(5) Indicate that the land will be sold to the highest bidder if the bid is equal to at least the

assessed value of the land as certified to the Commissioner of State Lands.

(

c) The highest bidder shall pay all taxes, interest, penalties, and other costs. Thereafter, all

interested parties known to the Commissioner and not previously notified shall receive notice by

mail of the sale from the Commissioner.

§26

202. Procedure

to sell.

(a) Bidders may bid at the sale or mail their bid to the office of the Commissioner of State

Lands. Bids shall be delivered at the appropriate place before the deadline established in the

notice of sale.

(b) If no one bids at least the assessed v

alue, the Commissioner may negotiate a sale. All

negotiated sales shall have approval of the Attorney General of the State of Arkansas.

delinquent sales in the county wherein the land is

located, unless the Commission

er determines there are not enough parcels of land to justify a

sale in one (1) county only. In that case, the Commissioner may hold a tax

delinquent land sale

in one (1) location and thereat sell land located in more than one (1) county if the counties

erein the lands are located are adjoining counties.

(d) The sales shall be conducted on the dates specified in the notices required by this

subchapter.

(e) Unless the owners of record tender all taxes, penalties, interest, and costs due within thirty

(30)

days after the date of sale, a limited warranty deed will be issued by the Commissioner to

the purchaser.

§26

203. Conveyance to purchaser

–

Contest.

(a) If the tax

delinquent land is not redeemed within the thirty

day period, the Commissioner of

State

Lands shall issue a limited warranty deed to the land.

(b)(1) All actions to contest the validity of the conveyance shall be brought within two (2) years

after the date of the conveyance or thereafter be barred, except as to causes of actions by

persons s

uffering a mental incapacity, minority, or serving in the United States armed forces

during time of war during the two

year period.

(2) Those persons shall not be allowed to contest the validity of the conveyance after the

expiration of two (2) years afte

rthedisabilityisremovedorthepersonreachesmajorityorthe

person is released from active duty with the armed forces.

voidable on the ground that the count

ydidnotstrictlycomplywiththelawsgoverningtax

delinquent land, provided that prior to the issuance of the deed, the Commissioner of State

Lands complied with the laws governing the disposition of tax

delinquent land.

(d) Nothing in this section sha

ll prevent any taxpayer from attacking a deed issued by the

Commissioner of State Lands on the ground that taxes have actually been paid.

§26

204. Sales set aside.

(a) In the event the sale is set aside by legal action or if the land is proven to be no

nexistent or

double assessed, the purchaser shall be entitled to reimbursement of moneys paid.

(b) The Commissioner of State Lands shall have the authority to set aside any sale. In the event

the Commissioner determines that a sale shall be set aside, the

purchaser may be entitled to

reimbursement of moneys paid to the Commissioner of State Lands.

action by the record owner or the heirs or assigns of the record owne

r, the record owner or the

heirs or assigns of the record owner shall pay all back taxes, penalties, interest, and costs

charged against the land.

Rogue Tax Sale Investor

126

Additional

Arkansas

Tax Sale

Information

Tax deed s

ales occur in all counties once per year, but the sales

are staggered so that every

quarter at least 5 or 10 counties have a tax deed sale. The state is also heavily involved in the

sales, and their website

(

http://www.cosl.org

)isexcellent.Youcaneithergetalistofthe

properties available at the sale from the website, or write/call using the contact information

below to get a hard copy mailed to you free of charge:

Mark Wilcox, Commissioner of State Lands

109 State Capitol

Little Rock, AR

72201

Phone: (501) 324

9222

mail:

mailto:land@cosl.org

The following pages on the Commissioner’s website provide useful information:

http://www.cosl.org/buyer.aspx

=Buyer’sGuide

http://www.cosl.org/neg.aspx

=NegotiatedSalesList

http://www.cosl.org/parcelsearch.aspx

=SearchDelinquentProperty

http://www.cosl.org/catalog.aspx

=AuctionCatalog

roperties are divided into three categories based on how long they have been in delinquency:

Class 1 properties

have been in delinquency for 4 years and the owner has 2 years left

to redeem.

Class 2 pr

operties

have been in delinquency for 5 years and the owner has 1 year left to

redeem.

Class 3 properties

have been in delinquency for 6 years and the owner has no time left

to redeem. The sale prices for these properties are negotiable, because the state

wants

to start collecting taxes on these properties as soon as possible.

Cleburne and Van Buren C

ounties, Arkansas

Tax Deed Sales

–

October 2003

In October 2003, we attended tax deed sales in two Arkansas

ounties, Cleburne

and Van

Buren.

Here are some a

ctual sales prices for properties sold at the

auctions:

Cabin on a scenic hillside with 11 acres of land sold for $16,000.

Lot located on a beautiful lake with trees and lake access did not even sell at the

auction.

ran out of time and could not locate

the property before the sale. However,

when we went to look at it after the sale to see if it was worth bidding on later, we could

not believe it. The property could have been purchased for the minimum bid of

$10,000. After doing more research, we learned

that lake lots in the same area are

selling for $75,000 to $100,000.

Arkansas County Links

See

Arkansas

Tax Sales

http://www.tax

lien

certificates.com

Rogue Tax Sale Investor

127

California

Tax Lien Sales:

estateisa

uthorized to conduct tax lien sales, but no sales

have been

conducted.

At least one county has considered having a tax lien sale.

Tax Deed Sales:

Yes

Over

the

Counter Tax Deed Sales:

Counties

are

ot allowed, by law, to sell properties by an

means other than at a public auction.

Rating:

Three

Stars (***)

Interest Rate:

18% interest rate is

author

ized, but no tax lien sales have been conducted.

Sale Period

Tax deed sales occur year round.

Redemption Period:

extended

right of redempt

ion following the tax deed sale.

Bidding Process:

Most counties are conducting their tax deed sales online.

State law dictates

that the minimum bid for property offered at a public auction tax sale be an amount not less than

the total amount necessary to

redeem the tax default, plus cost. Except pursuant to Section

3698.5(c) of the California Revenue and Taxation Code, when property interests have been

offered at a previous sale and no acceptable bids were received, the Tax Collector may offer

that proper

ty or property interest at a minimum bid that is less than the amount of the tax

default, plus cost.

In recent years, properties are often bid beyond their market value. The

bidding process at tax deed sales can be very competitive.

Legal Challenge Period

1yearfollowingthetaxsaledate.

State

Specific Information:

California conduct

great number of tax deed sales, with m

ore

than 10,000 individual parcels sold

every year

California is

an average

tax deed sale state.

most cases you will need sub

stantial capital to bid on properties since property values are so

high.

Be careful not to overbid on properties at highly competitive auctions.

Property Tax Collection Standards and Procedures Information

is available on the website of

the

California Sta

te Controller’s Office

http://www.sco.ca.gov/col/taxinfo/tcs/index.shtml

Counties must notify the State Controller's Office not less than 45 days nor more than 120 days

before a propose

dsale.Asnotificationsarereceived,theyarepostedontheStateController's

website at:

http://www.sco.ca.gov/col/taxinfo/tcs/pubauctions/index.shtml

California County

Links:

See

California

Tax Sales

http://www.californiataxdeedsales.com

and

http://www.tax

lien

certificates.com

Detailed County

Specific Informa

tion:

Rogue Tax Sale Investor

128

ALAMEDA COUNTY, CALIFORNIA

http://www.acgov.org

TREASURER

–

TAX COLLECTOR’S OFFI

http://www.acgov.org/treasurer

Donald White, Treasurer

(1) Property

Taxes, Frequently Asked Questions

http://www.acgov.org/treasurer/faqtaxes.htm

Property delinquent for the first year shall be declared defaulted for non

payment of taxes. After five

years, the

Tax Collector has the power to sell tax

defaulted property that is not redeemed.

(2) Tax C ollection

http://www.acgov.org/treasurer/taxcoll.htm

Prior Year Secured Tax Defaulted Property:

The Tax

Collector may offer tax

efaulted property, where

the taxes remain unpaid for five years or more, for sale through a public auction. This unit provides the

following prior year tax services:

publication of tax defaulted property

auction sales of tax de

faulted property

sales of tax defaulted property to public agencies

sealed bid sales of tax defaulted property.

(3)

Frequently Asked Questions about Public I nternet Auction of Tax Defaulted Land

http://www.acgov.org/treasurer/defaultfaqs.pdf

Property is sold “As Is”

–

Inspect thoroughly before you buy!

Why does the county sell tax defaulted property?

The primary purpose of a tax sale is to collect taxes

that have not been paid by the prop

erty owner for at least five years. Under Chapter 7, Part 6

Division 1

of the Revenue and Taxation code, offering the property at public auction achieves this by either selling

the property or by forcing payment of the property taxes. If the property is s

old, lienholders and the former

owner may claim proceeds in excess of the taxes and cost of the sale.

Can I obtain title to a property on the tax sale list by paying the delinquent taxes prior to the sale

date?

No. Legal title to a tax defaulted property

subject to the Tax Collector’s power to sell can be

obtained only by becoming the successful bidder at the county tax sale.

Does the county sell tax lien certificates ?

No counties in California sell tax certificates at this time.

Who is notified of the s

ale?

The law requires the Tax Collector to attempt to notify the current owner, all

lienholders and public agencies.

Is the tax publicly advertised?

Yes. State law dictates that the legally required notice of a tax sale must

be published in a publication

within the county three times in successive seven

day intervals before the

tax sale.

When does the right to redeem (pay the t axes) a tax default ed property subject to the power to sell

cease?

The right ceases at the close of business, 5:00 p.m., on the la

st business day prior to the sale.

There is no extended right of redemption on the State of California as exists in some other states.

How is the minimum bid on a tax sale property determined?

State law dictates that the minimum bid

on a tax defaulted par

cel offered by the Tax Collector at public auction shall be no less than the total

amount to redeem the delinquent property taxes plus costs.

Rogue Tax Sale Investor

129

Does the county guarantee the property or the ability to develop a property?

All property is sold “As

Is.”

Be an

informed bidder. Prospective purchasers are urged to examine the title, location and desirability

of the properties available to their own satisfaction prior to the sale. The County makes no guarantee,

express or implied, relative to the title, location or

condition of the properties for sale. In addition the

County assumes no responsibility, implied or otherwise, that the properties are in compliance with zoning

ordinances, mining and reclamation regulations, conform to building codes and permits and/or an

y other

applicable regulations or permits. No government entity is liable for damages sustained to property

purchased at public auction, including from the time of sale until the recordation of the tax deed to the

purchaser. No expressed or implied warrant

y is given with respect to parcels, and they are sold on an “as

is basis

” Bidders are responsible for knowing what they are purchasing. The city planning department

can provide zoning, General Plan designation, water source and other information. Examine

the County

Recorder’s records for any easements on a property.

All sales are final

Do liens or encumbrances on a tax defaulted property transfer to the new owner after purchase of

the property at a tax sale?

Not all liens are discharged by the sale. Any

liens not discharged may be the

responsibility of the new owner. Please refer to Revenue and Taxation code section 3712 for a complete

explanation of all liens and encumbrances assumed and discharged by the new owner.

How do I find a property I’d like to

bid on at the tax sale?

Vacant land (which accounts for most

properties offered at the tax sale) has no street (situs) address. The County Assessor’s plat maps and

map books can determine its approximate geographical location. Improved properties frequentl

y (but not

always) will bear a street address, making it easier to determine the general location. Exact boundary

lines of a property can be determined only by a survey of the property undertaken at the purchaser’s

expense. Assessor’s plat maps may be purc

hased from the County Assessor’s office.

I am inter ested in a property,

but

how do I know if it is still available on t he day of the auction?

Nothing in the preview list is guaranteed. The right of redemption will be 5:00 p.m. on the last business

day bef

ore the scheduled auction. The list will be updated as

redemptions are made, on a daily basis. It is

your responsibility to obtain a current list or check the Bid4Asset

website

(

www.bid4assets.com

)

for

updates.

How can I register as a bidder?

Bid4Assets.com will register bidders. Full instructions will be available

on the website

http://www.bid4assets.com

. Parcels require a bidder deposit of 10% of the minimum

bid. Bi

dders are advised to arrange for their deposits early to make sure they are eligible to bid. The Tax

Collector’s office will not be registering bidders nor accepting bids and all questions will be directed to

Bid4Assets.com.

How does the bidding proceed?

All parcels will be sold by Auction ID. Minimum bids will be as stated

per parcel and each raise will be in predetermined increments until the close of auction on the stated date

and time on

the

Bid4Assets.com website. For a more detailed explanation of th

e bidding process, log on

www.bid4assets.com

, click on “for buyers” on top of the home page, then click on “How to

” You

may also bid by proxy if you do not have access to the Internet. More information and

instructions are

available by calling 1

877

427

7387.

How can a successful bidder pay for a property at the tax sale?

Successful bidders must pay

through

wire transfer via eDeposit as directed on Bid4Assets.com, or by payment in the office in the form of

cash

or cashier’s check within 72 hours of being advised of successful bid. In addition to the successful bid, the

payment must include city and county transfer taxes. Only a successful bidder has the opportunity to

purchase County assets. If the successf

ul bidder defaults, under California State Law, the County cannot

resort to the second highest bidder and will be required to take appropriate legal action against the bidder

who defaults. In addition any bidder which does not complete their purchase by th

e submission of the

appropriate funds will be banned from future County auctions.

If I am the successful bidder how can I hold title (vesting) and how can I take possessi on of the

propert y?

The vesting on the Tax Deed will be as shown on the Deed informat

ion form you complete on

Bid4Assets.com. The Tax Deed wi

ll be mailed to you thirty

days from the close of the auction. Once you

have the Tax Deed you can proceed to take possession of your property. If there are occupants in the

property it is up to the pu

rchaser to commence the eviction process. This is a civil matter and you may

Rogue Tax Sale Investor

130

wish to seek private legal advice as the county assumes no responsibility and provides no assistance with

this issue.

Is property purchased in a tax sal e eligible for insurance?

The former owner has one year from the

date of recording of the Tax Deed to challenge the validity of the tax sale (Revenue and Taxation code

177, 3725 and 3726). During this one

year challenge period, it may not be possible to obtain a clear title

from a

title company. Occasionally, a quite title action is necessary if there has been an irregularity in the

title prior to the tax sale. In the event that the former owner is successful at overturning the sale, the sale

price would be returned to the purchaser

, but any improvements made to the property would not be

reimbursed to the person that made them.

What happens to pr operty that does not sell at the tax sale? Can the property be purchased

directly from the County?

The owner’s right to redeem the property

revives if not sold. The unsold

properties will be offered at subsequent tax sales until redeemed or sold. Properties cannot be purchased

directly from the County because the property must be sold at a public auction.

Be sure you want the property before

you bid.

All sales are final and there are absolutely no refunds.

you default, under California State Law, the County cannot resort to the second highest bidder and will be

required to take legal action against you. Failure to consummate the sale withi

n the specified time shall

result in the forfeiture of any deposit made and all rights that the purchaser may have had with respect to

the property. Failure to consummate the sale will also bar the bidder from participating in future tax sales

for Alameda

County.

Rules are subject to modification between now and commencement of sale. Property

sold “As Is.”

spect thoroughly before you buy.

(4)

200

Tax Defaulted

Land

Auction Results

tp://www.acgov.org/treasurer/results

auction.pdf

Public auction results

–

March 2

27, 2007

(5)

Contact Information

http://www.acgov.org/treasurer/contact.htm

1221 Oak Street, Room 131

Oakl

and, CA 94612

4685

Phone: (510) 272

6800

Fax: (510) 272

3856

Treasurer

Tax Collector, Donald R. White

Phone: (510) 272

6803

Fax: (510)

268

5377

Prior Year Secured Tax Defaulted Property

Phone: (510) 272

6800

Fax: (510) 272

6807

Rogue Tax Sale Investor

131

BUTTE COUNTY

CALIFORNIA

http://www.buttecounty.net

TREASURER

TAX COLLECTOR

http://ttc.buttecounty.net/Default.aspx?tabid=1

(1) Tax Auctions

http://ttc.buttecounty.net/Default.aspx?tabid=42

The Butte County Treasurer

Tax Collector's next Public Auction of Tax

Defaulted Properties is schedule

for June 14

17, 2008. It will be conducted online

through Bid4Assets, a company that hosts online

auctions for government agencies. Click here for a list of auction properties

http://ttc.but

tecounty.net/Portals/0/2008%20auction%20list%20for%20public.xls%204%207%2008%202.p

In mid

May, parcel information, registration and bidding instructions will be available at

Bid4Assets.com. We will have a link from this site to our Bid4Assets storefro

nt.

ROGUE INVESTOR NOTE

: See web page for links to additional auction resources and information,

including parcel look up on Butte County’s GIS site, maps provided by the Development Services

Department, zoning information, and MapQuest.

(1a) 2008 Auctio

n Parcel List

http://ttc.buttecounty.net/LinkClick.aspx?link=2008+auction+list+for+public.xls+4+7+08+2.pdf&mid=354

ROGUE INVESTOR NOTE

The parcel list

is available on

the data CD that accompanies this book

(within

the file folder “Tax Sale Lists”)

(1b) Frequently Asked Tax Auction Questions

http://ttc.buttecounty.net/Defau

lt.aspx?tabid=80

(1c) Previous Tax Auction Sales Summary

http://ttc.buttecounty.net/Default.aspx?tabid=56

Results for June 2002 and June 2006.

) Contact Information, Property Tax Div

ision

http://ttc.buttecounty.net/Default.aspx?tabid=28

Phone: (530) 538

7701

Fax: (530) 538

6551

Email:

taxes@buttecounty.net

) Office Loc

ation and Hours

http://ttc.buttecounty.net/Default.aspx?tabid=29

The Treasurer

Tax Collector's Department is located on the ground floor of the Butte County

Administration Building at 25 Co

unty Center Drive in Oroville. We are open to the public Monday through

Friday from 9:00 a.m. to 5:00 p.m., holidays excluded. Mailing Address: Butte County Treasurer

Tax

Collector's Department, 25 County Center Drive, Oroville, CA 95965. Telephone Number:

530

538

7701.

Rogue Tax Sale Investor

132

CALAVERAS COUNTY

, CALIFORNIA

http://www.co.calaveras.ca.us

TAX COLLECTOR

http://www.co.calaveras.ca.us/depa

rtments/taxcollector.asp

Treasurer

Tax Collector

Government Center

891 Mt. Ranch Road

San Andreas, CA 95249

Phone: (209) 754

6350

: (209) 754

6355

mail:

taxcollector@co.calaveras.ca.us

Cala

veras County Property Auction

–

November 8, 2007

Tax Defaulted Property Auction Rules & Important Information

http://www.co.calaveras.ca.us

/departments/taxcollector/public_auction_information_letter_2007.html

Tax Defaulted Property Auction Frequently Asked Questions

http://www.co.calaveras

.ca.us/departments/taxcollector/faq_public_auction_sales1.html

Listing of Properties

http://www.co.calaveras.ca.us/departments/taxcollector/property1_09_2007.h

tml

Required Pre

registration Form

http://www.co.calaveras.ca.us/departments/taxcollector/auction_reg_form_2007.pdf

CONTRA COSTA COUNTY, CALIFORNIA

http://www.co.contra

costa.ca.us

TREASURER

TAX COLLECTOR’S OFFICE

from

http://www.co.contra

costa.ca.us

, click on “Departments” at

the

top of

the

page, and t

hen on

“Treasurer

Tax Collector”

(1) Public Auction

(1a) Public Auction General Informati on

http://www.cctax.us/auction_intro.htm

from Treasurer

Tax Collector’s home page,

mouse over “Services,” the

n over

“Public Auction” and then

click

on “General Information”

The sale of "Tax Defaulted Property Subject to Power of Sale" is conducted by the Contra Costa County

Treasurer

Tax Collector pursuant to the provisions of the Revenue and Taxation Code and w

ritten

authorization of the Board of Supervisors.

(1b) Public Auction Frequently Asked Questions

http://www.cctax.us/auction_faq.htm

from Treasurer

Tax Collector’s home page,

mouse over

“Services,” the

ver

“Public Auction” and then

click on

“FAQ’s”

How can I obtain a list of proper ties to be offered at the tax sale?

A list of properties to be offered for

sale is available from the Office of the Treasurer Tax Collector at the beginning of January. Rem

ember,

because property owners have the right to redeem their property prior to the sale, the final list of parcels

to be offered for sale will not be available until the day of the sale.

Auction list sales are final.

Updated

information on properties that

remain in the sale is available at the Tax Collector's office or by visiting our

web site at (TBD).

Rogue Tax Sale Investor

133

Can I mail in or submit a sealed bid for a property in the public auction sale?

No. This is an oral

public auction requiring your presence, or that of yo

ur representative, to verbally bid upon the properties.

Can I obtain a property available at the public auction tax sale by paying the delinquent taxes

thereon prior to the tentative tax sale date?

No. Legal title to tax

defaulted property subject to pow

er of

sale can be obtained through the Treasurer and Tax Collector only by being the successful bidder at the

tax sale.

How do I find or see a pro perty I'd like to bid on at the tax sale?

Vacant ("unimproved") land (which

accounts for most property offer

ed at our tax sales) usually has no address and therefore its approximate

geographic location can be determined through the use of County Assessor plat maps. Exact boundary

lines of a property can be determined only by a survey of the property initiated at

the purchaser's

expense. "Improved" properties frequently (but not always) will bear a "situs" (street) address, making it

quite simple to assess the location. A "situs" (street) address does not mean there are improvements on

the property or that the imp

rovements are on the sale.

Do all properties wi t h an address have a home on them?

No. An address does not mean there is or

was a structure on the property. It does not guarantee that the address shown in the tax sale list is correct

or that the structure

is part of the sale.

How soon can I take possession of a property after my purchase at the tax sale?

The successful

bidder may take possession of a property after the Tax Deed to Purchaser has been recorded.

How is the minimum bid on a tax sale proper

ty determined?

State law dictates that the minimum bid

for property offered at a public auction tax sale be an amount not less than the total amount necessary to

redeem the tax default, plus cost. Except pursuant to Section 3698.5(c) of the California Reve

nue and

Taxation Code, when property interests have been offered at a previous sale and no acceptable bids

were received, the Tax Collector may offer that property or property interest at a minimum bid that is less

than the amount of the tax default, plus

cost.

Is a tax sale publicly advertised?

Yes. State law dictates that the event of a tax sale must be published

three times in successive seven

day intervals before the tax sale date in a newspaper, or newspapers of

general circulation within Contra Cost

a County. All parcels in the next tax sale will be advertised in

various local newspapers, the first publication date being not less than 21 days prior to the date of the

sale.

When does the right of redemption on a tax

defaulted parcel subject to the po

wer to sell cease?

The right of redemption on a tax

defaulted parcel subject to the Tax Collector's power to sell ceases at

the close of business on the last business day prior to the date of sale. There is no extended right of

redemption in the State of C

alifornia as does exist in some others states.

How soon may I begin improvement of the property after my purchase?

There is a one

year period

of time, after the date the tax deed is executed, that a proceeding based on alleged invalidity or

irregularity

can be commenced, pursuant to Section 3725 of the California Revenue and Taxation Code.

What happens to the properties that do not sell at the auction? Can tax sale properties be

purchased directly from the County?

If no acceptable bids are received for

a property, it will be offered

again at intervals of no more than six years until the property is sold, pursuant to Section 3692 of the

California Revenue and Taxation Code. Legal title to tax

defaulted property subject to power of sale can

be obtained thr

ough the Treasurer

Tax Collector only by being the successful bidder at the tax sale.

Additionally, pursuant to Section 3698.5(c) of said code, the Tax Collector may re

offer the property at

any time for a minimum bid that is set at the discretion of the T

ax Collector and approved by the County

Board of Supervisors.

Do liens or encumbrances on tax sale properties transfer to the new owner through a tax sale

propert y purchase?

Chapter 7, Section 3712 of the California Revenue and Taxation Code states: The

deed conveys title to the purchaser free of all encumbrances of any kind existing before the sale, except:

Rogue Tax Sale Investor

134

Any lien for installments of taxes and special assessments, which installments will become

payable upon the secured roll after the time of sale.

The

lien for taxes or assessments or other rights of any taxing agency which does not consent to

the sale under this chapter.

Liens for special assessments levied upon the property conveyed which were, at the time of the

sale under this chapter, not included

in the amount necessary to redeem the tax

defaulted

property, and, where a taxing agency which collects its own taxes has consented to the sale

under this chapter, not included in the amount required to redeem from sale to the taxing agency.

Easements cons

tituting servitude upon or burdens to the property; water rights, the record title to

which is held separately from the title to the property; and restrictions of record.

Unaccepted, recorded, irrevocable offers of dedication of the property to the public

or a public

entity for a public purpose, and recorded options of any taxing agency to purchase the property or

any interest therein for a public purpose.

Unpaid assessments under the Improvement Bond Act of 1915 (Division 10 [commencing with

Section 8500]

of the Streets and Highways Code) which are not satisfied as a result of the sale

proceeds being applied pursuant to Chapter 1.3 (commencing with Section 4671)

Part 8.

Any federal Internal Revenue Service liens which, pursuant to provisions of federal l

aw, are not

discharged by the sale, even though the tax collector has provided proper notice to the Internal

Revenue Service before that date.

Unpaid special taxes under the Mello

Roos Community Facilities Act of 1982 (Chapter 2.5

[commencing with Section

53311] of Part 1 of Division 2 of Title 5 of the Government Code) that

are not satisfied as a result of the sale proceeds being applied pursuant to Chapter 1.3

(commencing with Section 4671) of Part 8.

Note: A title search initiated

at the prospective pu

rchaser’s

expense should reveal any liens or

encumbrances on a property in the tax sale.

What guarantees do I have that the property is in good condition and can be used for my

purposes?

The sale of these properties should not, in any way, be equated to r

eal estate sales by

licensed salespeople, brokers or realtors. The Treasurer

Tax Collector cannot guarantee the condition of

the property nor assume any responsibility for conformance to codes, permits or zoning ordinances.

The burden is on the purchaser

to thoroughly research, before the sale, any matters relevant to his or her

decision to purchase, rather than on the county, whose sole interest is the recovery of back taxes. It is

also recommended that bidders consult with the zoning and planning depart

ments of any city within which

a particular parcel lies.

What are the conditions of payment for property at the Tax Sale?

Property purchased for less than

$50,000 must be paid for in full at the tax sale. The minimum bid must be tendered at time of sale

in cash,

cashier’s check or bank money orders payable to the Contra Costa County Tax Collector. Cash and

personal checks will be accepted for amounts over the minimum bid.

If the purchase price is $50,000.00 or greater, a credit transaction will be accept

ed. The purchaser must

deposit the first $50,000.00 in cash, cashier’s check, or money order, the remainder may be paid with a

personal check or put on a credit plan due within 90 days.

The transaction must be completed with 90 days. Failure to complete t

he transaction in full and on time

will result in forfeiture of all deposits.

Purchasers of property at the tax sale must also pay a Documentary Transfer Tax on the amount of the

bid. The tax is based on the rate of $.55 for each $500.00 or fractional par

t of each $500.00 when the bid

exceeds $100.00.

Purchasers of property within the city of Richmond must also pay a City Transfer Tax in addition to the

Documentary Transfer Tax. The rate for this city tax is $7.00 per $1,000.00 of the purchase price.

How

can I determine what use I can make of a Tax Sale property before I purchase it?

Consult the

zoning and planning departments of any city within which a property lies or the County’s Building

Rogue Tax Sale Investor

135

Inspection Department for property in unincorporated areas regar

ding use of the parcel. The County

Recorder’s records should be consulted for any recorded easements on a property.

How do I obtain information on Tax Lien Certificate Sales?

The Contra Costa County Treasurer

Tax

Collector does not offer tax lien certific

ates.

How can I get parcel maps of the properties?

Copies of the parcel maps can be purchased from the

ounty Assessor (

http://www.co.contra

costa.ca.us/depart/assr/assr.htm

). The Tax

Collector has a limited

number of sets of maps for public viewing at the office. Please remember to investigate before you

purchase. All sales are final.

Should the successful purchaser desire a survey of the property, it will be at the purchaser's own in

itiative

and expense. No warranty is made by the County, either expressed or implied, relative to the usability,

the ground location, or property lines of the properties. The exact location, desirability, and usefulness of

the properties must be determined

by the prospective purchaser.

The County assumes no liability for any other possible liens, encumbrances or easements, recorded or

not recorded. When property is sold at a tax sale on which the IRS holds a tax lien, the United States has

the right of red

emption for 120 days from the date of such sale (26 USC Sec. 3712[g] and 7425[d]). The

IRS will pay the actual amount paid for the property by the bidder, plus interest at 6% per annum from the

date of sale, plus the expenses of sale that exceed any income

received from the property.

(1c) Public Auction Bidder Registration Information and Form

http://www.cctax.us/BidderRegistration.pdf

Excerpts

from web page

Anyone who wishes to bid on prop

erty offered for sale

must be pre

registered and assigned a bidder

card.

A registration application form and deposit of $1,000 is required for each bidder card issued. The

registration deposit must be paid by cash, cashier’s check or bank

issued money orde

r. Other money

orders and checks will not be accepted. Your deposit will be applied to your first purchase at the tax sale.

All unused deposits will be refunded by the Treasurer

Tax Collector’s Office by mail within two to three

weeks after the sale.

You

must register in person at the office of the Treasurer

Tax Collector, 625 Court Street, Room 100,

Martinez, CA 94553. We will be registering bidders in our office from 8:00 a.m. until 5:00 p.m., Monday

through Friday, beginning January 24, 2005 and ending

February 11, 2005.

You may not register at the

sale.

We will require valid picture identification at the time of registration (i.e., driver’s license, military ID

card, passport, California ID card). Expired identification cards/documents will

not

be accep

ted.

You must vest the way you register

. If you wish to register/vest for someone not present at the tax sale,

you must show a

notarized

power of attorney for each person you are representing. If you wish to

corporation or a partnership, you will need to provide

notarized copies

of the document that gives you the authority to register/vest and purchase on their

behalf. This documentation might be in the form of a minute order from the board, a board resolution

registration of a partnership or articles of incorporation.

Changes in vesting will not be accepted after

registration is complete.

You must pay for your purchase immediately at the conclusion of the tax sale.

All sales are final

. Even if the successf

ul bidder makes a mistake and bids on the wrong property, the sale

will remain final. All sales of property must be paid for immediately. If the property is not paid for

immediately, the sale of that parcel will be declared null and void and the property w

ill be re

offered at the

next tax auction. No opportunity will be given for any successful bidder to go to the bank prior to

completing payment of the sales price

. Successful bidders

who refuse to pay for

the property they have

bid on

will have the bidder

card voided and they will forfeit their right to their registration deposit and may

be excluded from future sales. Please read the Official Terms and Conditions before participating in the

tax sale. You ma

y also wish to refer to our web

site for answers to

Frequently Asked Questions (FAQ’s)

under the Service category: Public Auction.

Rogue Tax Sale Investor

136

ROGUE INVESTOR NOTE

: Web page includes additional information on time and place of tax sale,

conditions of payment,

tax sale cancellation rights of the Contra Costa County Tax C

ollecto

r, and

investigating before you bid;

and includes a bidder registration form.

(1d) Public Auction

–

Public Auction List

http://www.cctax.us/listofauction.pdf

from Treasurer

Tax Collector’s hom

e page,

mouse over

“Servi

ces,” then over

“Public Auction” and then

click

on “Public Auction List”

Contra Costa County Public Auction

Board of Supervisors Chambers, 651 Pine Street, Room 107, Martinez, CA

Owners have the right to redeem their property unti

l 5 p.m. on the day prior to sale.

(2) Contact Information

from Treasurer

Tax Collector’s home page,

mouse over

“About” and then

click

on “Contact Information”

County Finance Building

625 Court Street, Room 100

Martinez, CA

Mailing address:

P.O. Box 631

Martinez, CA 94553

0063

Phone: (925) 646

4122 for all secured, unsecured and supplemental taxes

DEL NORTE COUNTY, CALIFORNIA

http://www.co.del

norte.ca.us

TREASURER

TAX COLLECTOR’S OFFICE

from

http://www.co.del

norte.ca.us

, click on “County Government

” then on “County Departments

and

Agencies

” and then on “Tax Collector”

Dawn La

ngston, Treasurer/Tax Collector

981 H Street, Suite 150

Crescent City, CA 95

531

Phone: (707) 464

7283

Fax: (707) 464

7247

Email:

taxcollector@co.del

norte.ca.us

(1)

Auction of Tax Defaulted Properties

from

the Treasurer

Tax Collector’s home page, click on “Auction of Tax Defaulted

Properties”

The Del Norte County Tax Collector will hold a public Internet auction of Tax

Defaulted Properties on May

, 200

. The auction will be held on the Internet

to allow more people the opportunity to bid. Properties

to be sold may include resid

ential, commercial and undeveloped land in various locations throughout Del

Norte County.

Research Information:

http://www.dnco.org/cf/topic/tax/researchinfo2008.pdf

Frequently Aske

d Questions:

http://www.dnco.org/cf/topic/tax/FAQ2008.pdf

Offline Bid Form:

http://www.dnco.org/downloads/Offline%20B

id%20Form%2008.pdf

Terms of Sale

http://www.dnco.org/cf/topic/tax/TOS2008.pdf

Potential bidders are

encouraged to register early.

The final date for receipt of deposits is April 29, 2008

lick

here

for further information on the auction

http://www.bid4assets.com/storefront/?sfid=411

Bidders

are responsible for understanding the Terms of Sale issued by the Del Norte County Tax

Collector as well

as Bid4Assets’ Terms of Service.

If you are not able to access the Internet, information packets and “Off

Line” bid forms will be available in

the Tax Collector’s Office.

Rogue Tax Sale Investor

137

Photographs may or may not be the actual parcel offered for s

ale and may include items that

are not

included in this sale.

We urge all bidders to examine the title, location and desirability of the property to

their own satisfaction prior to the sale.

ROGUE INVESTOR NOTE

: See web page for

a list of parcels with map

s, photos and minimum bids

(1a

) Research Information

http://www.dnco.org/cf/topic/tax/researchinfo2008.pdf

ROGUE INVESTOR NOTE

:Webp

age provides contact information for questions r

elated to valuation;

official records; zoning, land use and building permits

–

incorporated and unincorporated areas; and tax

sale questions not answered in due diligence.

(1b

) Frequently Asked Questions

http://www.dnco.org/cf/topic/tax/FAQ2008.pdf

Frequently asked questions about public Internet auction of tax defaulted land.

Questions are:

Why does the county sell tax

defaulted property?

What laws govern tax sales in California?

Can I obtai

n title to a property on the tax sale list by paying the delinquent taxes prior to the tax

sale

date? Does the county sell tax lien certificates?

Who is notified of the sale?

Is the tax sale publicly advertised?

When does the right to redeem (pay the taxes

) a tax

defaulted property subject to the power to

sell

cease?

How is the minimum bid on a tax sale property determined?

Does the county guarantee the property?

Contaminated/Possible Contaminated Properties?

Do liens or encumbrances on a tax

defaulted prop

erty transfer to the new owner after purchase of

the property at a tax sale?

How do I find a property I’d like to bid on at the tax sale?

How can I determine what use I can make of a tax sale property before I purchase it?

How can I find out if a property

I am interested in has been withdrawn from the sale (for payment

taxes or any other reason)?

How can I register as a bidder?

How does the bidding process proceed?

How can a successful bidder pay for a property at the tax sale?

If I am the successful bid

der, how can I hold title (vesting)?

How soon can I take possession of a property after purchase at the tax sale?

What steps should I take if there are occupants living on the property or personal property left on

the premises?

Is property purchased in a t

ax sale eligible for title insurance?

What happens to property that does not sell at the tax sale? Can the property be purchased

directly

from the county?

How can I get more information?

What happens if I am the successful bidder but decide that I don’t wa

nt the property after all?

(1c) Offline Bid Form

http://www.dnco.org/downloads/Offline%20Bid%20Form%2008.pdf

Bid4Assets offline bid form for Internet auction.

Rogue Tax Sale Investor

138

(1d)

Terms

of Sale

http://www.dnco.org/cf/topic/tax/TOS2008.pdf

1. The auction will begin at 8:00 a.m. PST (11:00 a.m. EST) on May 3, 2008 and the auction

will close at

the time shown on each auction it

em on May 6, 2008.

2. The asset information is being updated daily and will not be finalized until the day of the

sale. Please

read all due diligence materials and check the spreadsheets for updates.

3. The descriptions provided are based on the Official

Records of the County Recorder’s

Office and are

presumed to be correct. The property to be sold may be approximately

located from maps provided in the

Due Diligence information on each auction item on

Bid4Assets.com.

4. The right of the former owner to r

edeem any parcel is forfeited as of 5:00 p.m. PST on May

2, 2008.

Properties removed from the sale will be so indicated on the Asset Page listing for

a specific property.

5. Prospective purchasers are urged to examine the title, location and desirability

of the

properties

available to their own satisfaction prior to the sale.

All properties are sold as is

. The County makes no

guarantee, expressed or implied, relative to the title,

location, acreage or condition of the properties for

sale. The County assume

s no liability

for any other possible liens, encumbrances or easements, recorded

or not recorded.

6. Notice of Contaminated/

Possible Contaminated Properties: When we become aware of

properties on

our sales list that are known or suspected to be contaminat

ed, we will identify

these properties and the

Lead Agency’s name and address where all available information

may be reviewed.

Do not

bid on these

properties unless you understand the issues related

to contaminated properties. Prior to bidding, you

should c

ontact your attorney regarding the

possible purchase of contaminated properties.

7. Prospective purchasers are advised that some bonds or other assessments which are

levied by

agencies or offices other than the Treasurer

Tax Collector may still be

outstan

ding after the tax sale.

8. Some properties in some counties may have 1911, 1913 and/or 1915 Improvement Act

Bonds, or

Mello Roos Bonds, which are noted on the Asset Page listing of the property.

9. When property is sold at public auction on which the IR

S holds a tax lien, the United States

has the

right of redemption for 120 days from the date of such sale (26 USC Sec. 3712(g)

and 7425(d)). The IRS

will pay the actual amount paid for the property by the bidder, plus

interest at 6% per annum from the

date

of sale, plus the expenses of sale that exceed any

income received from the property.

10. If the successful purchaser desires a survey of the property, it will be at the purchaser’s own

initiative

and expense. The County makes no warranty, either express

ed or implied, relative

to the usability, the

ground location, or property lines of the properties. The prospective

purchaser must determine the exact

location, desirability, and usefulness of the properties.

11. The sale of these properties should not, i

n any way, be equated to real estate sales by

licensed

salesmen, brokers and realtors. The County Tax Collector cannot guarantee the

condition of the property

nor assume any responsibility for conformance to codes, permits or

zoning ordinances. You should

inspect the property before investing. The burden is on

the purchaser to thoroughly research, before the

sale, any matters relevant to his or

her decision to purchase, rather than on the county, whose sole

interest is the recovery

of back taxes.

12. Your

bid is an irrevocable offer to purchase the asset.

13. Successful bidders will be asked to complete a deed information form showing how they

want the title to the property to be held (vesting). The Deed Information form will be

provided to the

winning bid

ders and must be completed within 48 hours following the

close of the auction. The County

Recorder will mail the original deed to the purchaser after

recording, usually within four to six weeks. This

deed conveys all right, title, and interest to

the prope

rty in accordance with the provisions of Revenue and

Taxation Code section 3712.

Rogue Tax Sale Investor

139

14. A California documentary transfer tax will be added to, and collected with, the full

purchase price. This

tax is calculated at the rate of $.55 for each $500.00 or fractio

nal

part thereof, if the purchase price

exceeds $100.00.

15. The notification of winning bid will include the total purchase price, including documentary

transfer tax,

with instructions concerning the various payment methods.

16. Unless otherwise noted,

payment in full by wire transfer, electronic funds transfer or

cashier’s check

will be required by 5:00 p.m. PST, May 9, 2008, three (3) business days

after sale closes. A $15

processing fee may be required in addition to the winning bid. No

personal check

s or credit card

payments will be accepted. Payments in excess of the total

purchase price will be refunded by mail within

30 days. To ensure that a cashier’s check

payment is received timely, please check with a reliable

delivery service. If payment

polic

y is not adhered to, the successful bidder may be banned from future

sales.

17. Properties identified on asset description page as being eligible for a credit sale will require

a deposit of $5,000 or 10% of winning bid, whichever is greater, by 5:00 p.m.

PST, May 9,

2008, three (3)

business days after a subsequent sale closes. The balance will be due,

meaning good funds in the Tax

Collector’s office, within 30 calendar days of the sale date.

18. A single bid deposit (plus a $15 processing fee) may be requ

ired to bid on any and all

properties

offered for sale by an individual county. If a bid deposit is required, the amount

of the deposit will be

identified on each county’s store front or on the individual asset

description. Bid Deposits must be in the

form

of a wire transfer or cashiers check and

must be in the custody of Bid4Assets no later than Tuesday,

April 29, 2008 at 4:00 p.m.

EST (1:00 p.m. PST). Please contact Bid4Assets directly for instructions and

questions

pertaining to Bid Deposits.

19. Only a

successful bidder has the opportunity to purchase County assets. If the successful

bidder

defaults, under California State Law, the County cannot resort to the second highest

bidder, and will be

required to take appropriate legal action against the bidder

who

defaults. Failure on the part of the

successful bidder to consummate the sale within

the specified time shall result in the forfeiture of the

deposit made and all rights that

the purchaser may have had with respect to the property.

20. The successful

bidder may take possession of the property after the tax deed to purchase has

been

recorded. Most title companies will not insure title on properties sold at public auction

for at least one (1)

year after the tax deed has been recorded. Legal action to ch

allenge a tax

sale must be commenced

within one (1) year of the tax recording date.

21.

All sales are final. There are absolutely no refunds.

Rules are subject to modification between now and commencement of sale.

Rogue Tax Sale Investor

140

FRESNO COUNTY, CALIF

NIA

http://www.co.fresno.ca.us

AUDITOR

CONTROLLER/TREASURER

TAX COLLECTOR’S OFFI

http://www.co.fresno.ca.us/0410/default.htm

Vicki Crow

Fresno County Treasurer

2281 Tulare Street

Hall of R

ecords, Room 105

Fresno, California 93721

Mailing address

P.O. Box 1247

Fresno, California 93715

Phone: (559) 488

3482

Fax: (559) 488

3493

Email:

TaxCollectorWebMail@co.fresno.ca.us

AX COLLECTION UNIT

(within Auditor

Controller/Treasurer

Tax Collector’s Office)

http://www.co.fresno.ca.us/0410/tax.htm

The Tax Collector is responsible for maintaining tax

defaulted property (secur

ed delinquent) tax records.

This includes preparing all required notices of payment due, courtesy notices and required publications,

preparing and recording Notices of Power to Sell and releases, and scheduling the actual sale of tax

defaulted property and

maintaining the appropriate records.

Rolein Hiatt, Chief Accountant/Tax Manager

(1) Tax Sale

General Information

http://www.co.fresno.ca.us/0410/taxsalesGeneralI

nfo

no%20sale%20pending.htm

Fresno County’s next tax sale

is tentatively scheduled for March

69, 2008

It will be held on the Internet.

The list of properties will be available

during

the first week of February 2008 at

http://www.bid4assets.com/fresno

The Fresno County Auditor

Controller/Treasurer

Tax Collector does not maintain a permanent tax sale

mailing list. Our Internet Auction site is hosted by Bid4Assets.com

Prospective purchasers will be

asked to register via the Internet. Each registered bidder will receive an

identification number, which the bidder must have in order to participate. All parcels will be sold by asset

number and in the order listed. Minimum bids will be as stated per parce

l and each raise will be in

increments of at least $100 until sold.

The descriptions given are based on the official records of the Fresno County Assessor

Recorder’s Office

and are presumed to be correct. The property to be sold may be approximately loca

ted from maps

available for viewing at the Internet Auction Advertising Service Provider’s website address.

The right of the former owner to redeem any parcel is forfeited as of 5:00 p.m. on the last business day

prior to the sale.

Prospective purchase

rs are urged to examine the title, location and desirability of the properties available

to their own satisfaction prior to the sale.

All properties are sold “As I

”

Fresno County makes no

guarantee, expressed or implied, relative to the title, location o

r condition of the properties for sale. All

property taxes currently due will be paid from the proceeds of the sale.

Please note: Prospective purchasers are advised that some bonds or o

ther assessments which are levied

by agencies or offices other than

the Auditor

Controller/Treasurer

Tax Collector may still be outstanding

Rogue Tax Sale Investor

141

after the tax sale; in addition, the

Internal Revenue Service

has the option of redeeming, up until 120 days

after the sale, any property on which there is an I.R.S. lien recorded.

e successful bidder may take possession of the property after the tax deed to purchaser has been

recorded. Most title companies will not insure title on properties sold at pub

lic auction for at least one

year

after the tax deed has been recorded. Legal act

ion to challenge a tax sale m

ust be commenced within

one

year of the tax recording date.

All sales are final.

Prior to payment, successful bidders will be asked to complete a "deed slip" showing how they want the

property purchased to be conveyed. The d

eed will be mailed to the purchaser after recording, usually

within six to eight weeks. This deed conveys all right, title, and interest to the property in accordance with

the provisions of Revenue and Taxation Code section 3712.

A California documentary

transfer tax will be added to, and collected with, the full purchase price. This tax

is calculated at the rate of $.55 for each $500.00 or fractional part thereof, if the purchase price exceeds

$100.00.

Payment in full by cash or cashier’s check (made p

ayable

to Fresno County Tax Collector) must be made

within 5 business days after the conclusion of the online auction. No personal or business checks will be

accepted. Payments in excess of the purchase price will be refunded by mail within 30 days.

KER

NCOUNTY,CALIFORNIA

http://www.co.kern.ca.us

TREASURER AND TAX CO

LLECTOR

http://www.kcttc.co.kern.ca.us

Phil Franey, Kern County Treasurer and Tax Collector

1115

Truxtun Avenue

Bakersfield, CA 93301

Phone: (661) 868

3490

Toll

free phone: (800) 552

KERN

Fax: (661) 868

3409

(1) Tax Sales

http://www.kcttc.co.kern.ca.us/taxsales.cfm

Our next tax sale is s

et for August 14

16, 2006 and will feature properties located in Bakersfield, Delano,

Taft, Rosamond and California City.

The list of properties will be available about a month prior to our sale.

The Treasurer

Tax Collector is not allowed, by law, t

o sell properties by any means other than at a public

auction. Kern County does not sell tax liens for tax

defaulted properties nor do we maintain a list of

contacts for tax sales.

Research before you invest.

The sale of these properties should not, in an

y way, be equated to real

estate sales by licensed salesmen, brokers and realtors. The County Treasurer

Tax Collector cannot

guarantee the condition of the property nor assume any responsibility for conformance to codes, permits

or zoning ordinances. You s

hould inspect the property before investing. The burden is on the purchaser

to thoroughly research, before the sale, any matters relevant to his or her decision to purchase, rather

than on the county, whose sole interest is the recovery of back taxes.

is recommended that bidders consult with the Zoning Department of any city within which a particular

parcel lies. Tax

defaulted property will be sold on an "as is" basis.

Rogue Tax Sale Investor

142

Should the successful purchaser desire a survey of the property, it will be at the p

urchaser’s own initiative

and expense. No warranty is made by the County, either expressed or implied, relative to the usability,

the ground location, or property lines of the properties. The exact location, desirability, and usefulness of

the properties m

ust be determined by the prospective purchaser.

The County assumes no liability for any other possible liens, encumbrances or easements, recorded or

not recorded. When property is sold at public auction on which the IRS holds a tax lien, the United States

has the right of redemption for 120 days from the date of such sale (26 USC Sec. 3712[g] and 7425[d]).

The IRS will pay the actual amount paid for the property by the bidder, plus interest at 6% per annum

from the date of sale, plus the expenses of sale t

hat exceed any income received from the property.

(2) Online Auction: Tax Sale Questions and Answers

http://www.kcttc.co.kern.ca.us/salefaq.cfm

Internet Auctions

http://www.bid4assets.com

Offline Bidding Instructions: call toll free at (877) 427

7387

Who can place a bid?

Only registered Bid4A

ssets.com members. You must register to bid.

What is an autobid?

An auto bid (or proxy) saves you time and mone

y. An auto bid authorizes

Bid4Assets to bid $100 above any competing bid, up to, but not exceeding the maximum dollar amount

that you are willing to pay. In other words, your bid will automatically increase

only

as other bidders

participate, up to your spe

cified maximum amount. This enables you to continually bid without having to

constantly monitor the auction.

Can I change or cancel a bid?

Your bid is an irrevocable offer to purchase the asset.

What is the minimum bid price?

That is the minimum dollar a

mount we are willing to accept for an item

to be sold at the auction.

What happens when the auction end s?

The winning bidder will receive an Asset Alert stating that the

auction has closed

including the asset description and closing bid price. If you are

the winning bidder,

you will need to either wire funds to us or FedEx a cashier’s check made payable to Phil Franey

–

KCTTC. Our address is: 1115 Truxtun Avenue, Bakersfield, CA 93301. It is your responsibility to

complete the sale in accordance with the

Terms of Sale in the online Asset Listing.

How do I bid offline?

You must contact

id4

ssets.com’s Client Services Department at (877) 427

7387. You will be registered to bid and will then receive the Offline Bid Form, either faxed or mailed to

you. You w

ill also receive Terms of Service and Additional Terms of Service information.

(3) Online Auction: Tax Sale Brochure

from

http://www.kcttc.co.kern.ca.us/taxsales.cfm

, click on “Tax Sale Brochure

”

(4) Tax

Defaulted Property: General Tax Sale I nformation

http://www.kcttc.co.kern.ca.us/taxdeflt.cfm

Note:

The Treasurer

Tax Collector does not maintain a permanent tax sale mailing list. If

you wish to view

our list of tax

defaulted properties, please call Bid4Assets.com at (877) 427

7387 or visit their website

http://www.bid4assets.com

General Information:

Prospective purchasers will be asked

to register via the Internet. Each registered bidder will

receive an identification number, which the bidder must have in order to participate. All parcels

will be sold by item number and in the order listed. Minimum bids will be as stated per parcel and

each raise will be in increments of at least $100 until sold.

The descriptions given are based on the official records of the Kern County Assessor

Recorder’s

Office and are presumed to be correct. The property to be sold may be approximately located

Rogue Tax Sale Investor

143

from

maps available for viewing at the Internet Auction Advertising Service Provider’s website

address.

The right of the former owner to redeem any parcel is forfeited as of 5:00 p.m. on the last

business day prior to the sale.

Prospective purchasers are urge

d to examine the title, location and desirability of the properties

available to their own satisfaction prior to the sale. All properties are sold “as is.” The County of

Kern makes no guarantee, expressed or implied, relative to the title, location or cond

ition of the

properties for sale. All property taxes currently due will be paid from the proceeds of the sale.

Please note: Prospective purchasers are advised that some bonds or other assessments which

are levied by agencies or offices other than the Treas

urer

Tax Collector may still be outstanding

after the tax sale; in addition, the I.R.S. has the option of redeeming, up until 120 days after the

sale, any property on which there is an I.R.S. lien recorded.

The successful bidder may take possession of the

property after the tax deed to purchaser has

been recorded. Most title companies will not insure title on properties sold at public auction for at

least one year after the tax deed has

been recorded. Legal action to challenge a tax sale must be

commenced w

ithin one year of the tax recording date.

All sales are final.

Prior to payment, successful bidders will be asked to complete a "deed slip" showing how they

want the property purchased to be conveyed. The deed will be mailed to the purchaser after

recordi

ng, usually within four to six weeks. This deed conveys all right, title, and interest to the

property in accordance with the provisions of Revenue and Taxation Code section 3712.

A California documentary transfer tax will be added to, and collected with,

the full purchase price.

This tax is calculated at the rate of $.55 for each $500.00 or fractional part thereof, if the purchase

price exceeds $100.00.

Payment in full by cash or cashier’s check (made payable to Phil Franey, KCTTC)

must be made

within fi

ve business days after the conclusion of the online auction.

No personal checks will be

accepted

Payments in excess of the purchase price will be refunded by mail within 30 days.

(5) Tax

Defaulted Property: Tax Sale Compari son

http://www.kcttc.co.kern.ca.us/taxsalestats.cfm

Tax sale history statistics.

(6) GIS Maps

http://206.169.45.184/imf/imf.jsp?site=krn_pro

(7) Tax

Defau

lted Property: Entire List of Tax

Defaulted Properties Subject to Power to Sell

http://www.kcttc.co.kern.ca.us/ptslist.cfm

After five years of tax

defaulted status, defaulted properties become

subject to the "Power to Sell." These

properties may be sold at future Internet auctions, unless redeemed for the full taxes, penalties, and other

associated costs. Occasionally, other factors such as a bankruptcy may delay the offering of a property

for

sale. The listing of tax

defaulted properties displays the owner name of record, the ATN (Assessor Tax

Number), and the Amount Owed (approximation).

Power to Sell listing dated

April 8, 2008

(

) Contact Information

http://www.kcttc.co.kern.ca.us/contact.cfm

Rogue Tax Sale Investor

144

LOS ANGELES COUNTY,

CALIFORNIA

http://lacounty.info

TREASURER AND TAX CO

LLECTOR

http://ttax.co.la.ca.u

Mark Saladino, Treasurer and Tax Collector

225 N. Hill Street

Los Angeles, CA 90012

Email:

info@ttc.lacounty.gov

Phone, Tax Defaulted Property Auctions:

(213) 974

2045

(1) Public Auction

from

http://ttax.co.la.ca.us

, mouse over “Services” and then over “Public Auction”

(1a) 2008A

Tax Sale

–

General Information

http://ttax.co.la.ca.us/Proptax/auct

ion_intro.htm

The County of Los Angeles Treasurer and Tax Collector sells properties located in Los Angeles County

for which property taxes have not been paid for 3 years or more. The Public Auctions are open to the

public. The next Public Auction of tax

defaulted property will beheld on February 11 and 12, 2008 starting

at 9:00 a.m. (PST) at the Los Angeles County Fairplex in Pomona, California.

The auction list for the 2008A tax sale of the tax defaulted properties in the County of Los Angeles will be

available over the internet only starting on November 20, 2007 and available for sale by telephone or in

person starting on December 11, 2007. Bidder registration will be open from 8:00 a.m. to 5:00 p.m.

beginning January 7, 2008, and ending January 25, 20

08. Prospective bidders are required to

pre

in person

. The required registration deposit is $5,000. Therefore, a $5,000 deposit in the form

of cash, cashier's check, or bank

issued money order payable to the Los Angeles County Tax Collector is

quired at registration time. No other forms of payment will be accepted. You must register in person and

receive your bidder card at the office of the Treasurer and Tax Collector, 225 North Hill Street, Room 130,

Los Angeles, California 90012.

You may not

. We will require valid photo

identification at the time of registration (i.e., driver's license, military ID card, Mexican Matricula Consular,

passport, California ID card). Please read carefully the Bidder Registration require

ments provided in the

auction book and on the Treasurer and Tax Collector’s website at

http://ttc.lacounty.gov

, as other

requirements may apply to persons registering for another person or as a corporation, partners

hip, trust,

etc.

At the time you register, you can increase your initial registration deposit by opening an Auction Trust

Account. This will eliminate the need to stand in the cashier’s line for the purpose of paying the deposit on

property purchased. To

open an Auction Trust Account, you must deposit a minimum of $5,000, in

addition to the $5,000 registration deposit. During the auction, if you are the successful bidder, proceed to

the Auction Desk and indicate whether or not you want to pay the minimum

amount due or pay the full

purchase price of the property. The Auction Operators will give you a Purchase Agreement indicating the

amount that will be automatically deducted from your Auction Trust Account. Please note that we cannot

apply any funds to you

r purchase until the Purchase Agreement is signed.

As long as there are sufficient funds in your Auction Trust Account, there will be

need to see the

cashier to complete your purchase at the auction site. To set

up the Auction Trust Account, contact th

Bidder Registration Unit at (213) 974

2040. Only cash, cashier’s checks, and bank

issued money orders

payable to the Los Angeles County Tax Collector will be accepted for the Auction Trust Accounts.

Please be advised that unused monies in the Auction Tr

ust Account and unused registration deposit will

be refunded by mail within 30 days from the date of the sale.

No refunds will be issued at the auction.

Date of Auction: February 11 and 12, 2008

Auction Site:

Los Angeles County

Fairplex,

1101 West McKin

ley Avenue

, Building 8,

Pomona,

91768

Time: 9:00 a.m.

Rogue Tax Sale Investor

145

For information regarding Registration: (213) 974

2040

For information regarding Properties in Auction: (213) 974

2045

(1b) Bid Registration Form

http://ttax.co.la.ca.us/Proptax/BidderRegistration.pdf

(1c) Critical Dates

http://ttc.lacounty.gov/Proptax/auction_dates.htm

(1d) How to Purchase List of Prop

erties

http://ttc.lacounty.gov/Proptax/auction_purchaseList.htm

ROGUE INVESTOR NOTE

: Includes information on the cost to purchase and how to purchase an auction

book, where to purc

hase assessor’s maps, and a link to purchasing the auction list online.

(1e) Remaining Items

http://ttc.lacounty.gov/Proptax/RemainingItems.asp

Auction closed.

(1f) List of Parcels Sol

http://ttc.lacounty.gov/Proptax/auction_SoldParcels.htm

List of parcels sold from tax sales dating back to March 2004.

(1g) Term s and Conditions

http://ttc.lacounty.gov/Proptax/TermsAndCondition.pdf

ROGUE INVESTOR NOTE

: Web page provides information about registration; place, date and time of

sale; caution

–

investigate before you bid; minimum bid; properties

in tax sale; bidding information;

payment for property purchased at tax sale; forfeited sales; auction trust account; additional

taxes/charges on properties purchased at the auction; liens that are not removed by tax sale; title; sale

after redemption (err

oneous sales); withdrawal of a portion of a parcel that is for sale; contaminated

properties; disaster relief; bankruptcy; tax sale cancellation rights of the Los Angeles County Tax

Collector; and acknowledgement of terms and conditions.

(1h

)AnnualPubli

c Aucti

Tax Sales

Frequently Asked Questions

http://ttc.lacounty.gov/Proptax/auction_faq.htm

How can I obtain a list of proper ties to be offered at the tax sale?

A list of properties to be

offered for

sale is available from the Office of the Treasurer and Tax Collector.

Auction list sales are final.

The

auction list is also available for public inspection during regular business hours at Regional Offices of the

County Assessor, District Of

fices of members of the Board of Supervisors, and certain Los An

geles

County Public Libraries.

Updated information on prop

erties which remain in the sale

is available at the

Tax Collector's office or by visiting our webs

ite at

http://ttc.lacounty.gov

Can I mail in or submit a sealed bid for a property in the public auction sale?

No.

This is an oral

public auction requiring your presence, or that of your representative, to verbally bid upon the properties.

Can I o

btain a property avail able at the public auction tax sale by paying the delinq uent taxes

thereon prior to the tentative tax sale date?

No.

Legal title to tax

defaulted property subject to power of

sale can be obtained through the Treasurer and Tax Collecto

r only by being the successful bidder at the

tax sale.

How do I find or see a pro perty I'd like to bid on at the tax sale?

Vacant ("unimproved") land (which

accounts for most property offered at our tax sales) usually has no address and therefore its app

roximate

geographic location can be determined through the use of County Assessor

platt maps.

Exact boundary

lines of a property can be determined only by a survey of the property initiated at the purchaser's

expense. "Improved" properties frequently (but

not always) will bear a "situs" (street) address, making it

Rogue Tax Sale Investor

146

quite

simple to assess the location.

A "situs" (street) address does not mean there are improvements on

the pro

perty or that the improvements

are on the sale.

Do all properties wi t h an address h

ave a home on them?

An address does not mean there is or

was a structure on the property. It does not guarantee that the address shown in the tax sale list is correct

or that the structure is part of the sale.

How soon can I take possession of a prop

erty after my purchase at the tax sale?

he successful

bidder may take possession of a property after the Tax Deed to Purchaser has been recorded.

How is the minimum bid on a tax sale property determined?

State law dictates that the minimum bid

for prope

rty offered at a public auction tax sale be an amount not less than the total amount necessary to

rede

em the tax default, plus cost.

Except pursuant to Section 3698.5(c) of the California Revenue and

Taxation Code, when property interests have been offered

at a previous sale and no acceptable bids

were received, the Tax Collector may offer that property or property interest at a minimum bid that is less

than the amount of the tax default, plus cost.

Is a tax sale publicly advertised?

es.

State law dictat

es that the event of a tax sale must be p

ublished

three times in successive seven

day intervals before the tax sale date in a newspaper, or newspapers of

general circulation within Los Angeles County

All parcels in the next tax sale will be advertised in

various

local newspapers, the first publication date bei

ng not less than 21

days prior to the date of the sale.

When does the right of redemption on a tax

defaulted parcel subject to the power to sell cease?

The right of redemption on a tax

defaulted par

cel subject to the Tax Collector's power to sell ceases at

the close of business on the last business

day prior to the date of sale.

There is no extended right of

redemption in the State of California as does exist in some others states.

How soon may I b

egin improvement of the property after my purchase?

here is a one

year period

of time, after the date the tax deed is executed

that a proceeding based on alleged invalidity or

irregularity can be commenced, pursuant to Section 3725 of the California Reve

nue and Taxation Code.

What happens to the properties that do not sell at the auction?

Can tax sale properties be

purchased directly from the County?

If no acceptable bids are received for a property, it will be offered

again at intervals of no more than

six years until the property is sold, pursuant to Section 3692 of the

Califor

nia Revenue and Taxation Code.

Legal title to tax

defaulted property subject to power of sale can

be obtained through the Treasurer and Tax Collector only by being the successful

bidder at the tax sale.

Additionally, pursuant to Section 3698.5(c) of said code, the Tax Collector may re

offer the property at

any time for a minimum bid that is set at the discretion of the Tax Collector and approved by the County

Board of Supervisors.

Please remember to in

vestigate before you purchase.

All sales are final.

(2) Additional Auction Information

http://ttc.lacounty.gov/Proptax/auction_info.htm

The Public Auction of Tax

Defaulted Parcels will be held on February 11 and 12, 2008 at the Los Angeles

County Fair Grounds at the FairPlex in Pomona, California.

Please continue to check this website for updates to the auction including the items indicated below:

List of Proper

ties with Known

Special Conditions:

i.e., contaminated, possible parking stalls, etc.

IRS Liens:

http://ttc.lacounty.gov/Proptax/2008A%20IRS%20Lien.pdf

Weed Abatement Liens:

http://ttc.lacounty.gov/Proptax/2008A%20Weed%20Abatement%20Liens.pdf

Brush Clearance Liens:

http://ttc.lacounty.gov/Proptax/2008A%20Brush%20Clearance%20Liens.pdf

Rogue Tax Sale Investor

147

CI Bond Disc

losure for Parcel #4451

015

065:

http://ttc.lacounty.gov/Proptax/2008A%2

0CI%20Bond%20Disclosure%204451015065.pdf

Coastal Commission Group

Parcels (removed from tax sale):

http://ttc.lacounty.gov/Proptax/2008A%20Coastal%20Commis

sion%20Group%20Parcels.pdf

Parcels with Special Circumstances

http://ttc.lacounty.gov/Proptax/2008A%20Special%20Circumstances.pdf

ORANGE COUNTY, CALIF

ORNIA

http://egov.ocgov.com/portal/site/ocgov

TAX COLLECTOR’S OFFICE

from the county home page, click on “Departments & Agencies” under the header “Channels,” then on

“Treasurer

Tax Collector,” and then on “Tax Co

llector”

This office is responsible for the sale of property subject to the "power to sell," formerly known as

delinquent tax deeded property.

) Property Auctions

from the Treasurer

Tax Collector web page, click on “Property Auctions” under the header

“Popular Links”

General Information and Bidder's Instructions for the Live Auction Sale of Tax Delinquent Real Property in

the County of Orange

Live Auction Sale

March 19, 2008

The Orange County Treasurer

Tax

Collector is offering for sale

real pr

operty located in the County of

Orange. This property has become subject to the Tax Collector’s Power to Sell due to non

payment of

property tax for five or more tax years. The sale of “Tax

Defaulted Property Subject to Power to Sell” is

conducted by the C

ounty Treasurer

Tax Collector pursuant to the provisions of the Revenue and Taxation

Code and the written authorization of the Controller of the State of California. The Orange County

Treasurer

Tax Collector

does not

offer tax lien certificates, sealed bid

s or over

the

counter sales.

ROGUE INVESTOR NOTE

: See web page for information on the following: caution to bidders, time and

place of sale, registration, deposit, minimum bids, a list of the properties offered for sale, maps, payment

information, title,

sale after redemption, possible cause for reversal of tax deed, caution

–

investigate

before you bid, toxic waste properties, liens, and bidder’s instructions.

) Contact Information

from the Treasurer

Tax Collector web page, click on “Contact Us”

The T

reasurer

Tax Collector

12 Civic Center Plaza

Santa Ana, CA 92701

Mailing address: P.O. Box 4515, Santa Ana, CA 92702

Phone: (714) 834

3411

Fax: (714) 834

6229

Email:

ttcinfo@ttc.ocgov.com

Rogue Tax Sale Investor

148

PLACER COUNT

Y, C ALIFORNIA

http://www.placer.ca.gov

TREASURER

TAX COLLECTOR’S OFFICE

http://www.placer.ca.gov/departments/tax.aspx

Jenine Windeshausen,

Treasure

Tax Collector

Finance Administration Building

2976 Richardson Drive, 2nd Floor

Auburn, CA 95603

Phone: (530) 889

4120

Fax: (530) 889

4123

Email:

taxcollector@placer.ca.gov

)

Tax Land Sale

Informa

tion

http://www.placer.ca.gov/Departments/Tax/LandSale/GeneralInfo.aspx

) Tax Land Sale

http://

www.placer.ca.gov/Departments/Tax/LandSale.aspx

The next tax

defaulted land sale will be held on May 23, 2008 in the

Planning Commission Hearing Room

Community Development Resource Center

3091 County Center Dr

ive,

Auburn, CA

Everything You Ever Wan

ted To Know About Tax Defaulted Land Sales

Prospective purchasers will be asked to register on the morning of the sale. Registration will include

name and mailing address and may require identification as deemed necessary for the processing of

auction doc

uments. A $500.00 refundable deposit is required when you register (cash or cashier's check).

Personal checks will not be accepted. Unsuccessful bidders will be refunded their deposit at the

conclusion of the sale.

Proper ID will be required at that time.

Each registered bidder will receive an identification number, which the bidder must have in order to

participate. All parcels will be sold by item number and in the order listed. Minimum bids will be as stated

per parcel and each raise will be in incremen

ts of at least $100 until sold.

All sales require full payment, which includes the transfer tax and recording fee. At the tax collector's

discretion, purchases over $5,000 may be paid for on a credit payment plan, but they still require 10

percent of the

bid or $5,000, whichever is greater, deposited at the time of the sale. The balance is

payable in lawful money of the United States or negotiable paper, as specified by the tax collector, within

a period specified by the tax collector, not to exceed 90 da

ys from the date of the auction, as a condition

precedent to the transfer of title to the purchaser. If the balance due is not paid within the period specified,

the deposit is forfeited, along with all rights

with respect to the property (Section

3693.1).

The descriptions given are based on the official records of the Placer County Assessor's Office and are

presumed to be correct. The property to be sold may be approximately located from maps available for

viewing in the Treasurer

Tax Collector's Office at

2976 Richardson Drive, 2nd Floor, Auburn, CA 95603.

Please contact the Assessor's Office at 2980 Richardson Drive, 2nd Floor, Auburn, CA 95603 (phone:

530

889

4300), if assistance is needed in locating the properties on these maps.

The right of the form

er owner to redeem any parcel is forfeited on the last business day prior to the sale.

Properties removed from the sale may be obtained by calling (530) 889

4120 or by visiting this website. In

addition, properties removed from the sale will be announced a

t the beginning of the sale.

Prospective purchasers are urged to examine the title, location and desirability of the properties available

to their own satisfaction prior to the sale. All properties are sold as is. The County of Placer makes no

guarantee,

expressed or implied, relative to the title, location or condition of the properties for sale. All

property taxes currently due will be paid from the proceeds of the sale.

Rogue Tax Sale Investor

149

Please note: Prospective purchasers are advised that some bonds or other assessme

nts which are levied

by agencies or offices other than the Treasurer

Tax Collector may still be outstanding after the tax sale; in

addition, the I.R.S. has the option of redeeming, up until 120 days after the sale, any property on which

there is an I.R.S.

lien recorded.

The successful bidder may take possession of the property after the tax deed to purchaser has been

recorded. Most title companies will not insure title on properties sold at public auction for at least one year

after the tax deed has been r

ecorded. Legal action to challenge a tax sale must be commenced within

one year of the tax recording date.

All sales are final.

Prior to payment, successful bidders will be asked to complete a "deed slip" showing how they want the

property purchased to

be conveyed. Title

vested

in the name of the actual

purchaser.

If title

is to

vested

differently, we

require

a notarized letter from the individual for whom you are acting as an agent,

stating the manner in which title is to be vested. The deed will

be mailed to the purchaser after recording,

usually within four to six weeks. This deed conveys all rights, title, and interest to the property in

accordance with the provisions of Revenue

and Taxation Code section 3712

(

http://www.placer.ca.gov/Departments/Tax/~/media/tax/documents/R_T%203712%20pdf.ashx

A California documentary transfer tax will be added to, and collected with, the full purchase price.

This tax

is calculated at the rate of $.55 for each $500.00 or fractional part thereof, if the purchase price exceeds

$100.00.

Payment in full by cash, money order or cashier's check will be required at the time of sale. No personal

checks will be accep

ted. Payments in excess of the purchase price will be refunded by mail within 30

days.

The following banks are within close proximity to the sale location:

Bank of America

900 High Street, (916) 632

3910

Golden 1

2248 Grass Valley Highway, (877) 4

3361

Placer Sierra Bank

949 Lincoln Way, (530) 888

2814

Umpqua Bank

11795 Atwood Road, (530) 889

3726

Union Bank of California

874 Lincoln Way, (530) 885

3701

US Bank

730 High Street, (530) 889

6350

Washington Mutual

2520 Grass Valley Hi

ghway, (530) 823

6157

Wells Fargo Bank

338 Elm Avenue, (530) 885

7502

West America Bank

424 Grass Valley Highway, (530) 888

3747

World Savings

390 Elm Avenue, (530) 885

1936

Failure on the part of the successful bidder to consummate the sale wit

hin the specified time shall result

in the forfeiture of the deposit made and all rights that the purchaser may have had with respect to the

property.

The Treasurer

Tax Collector’s office no longer offers a “Public Auction Information

Packet” for a fee.

are pleased to announce that all of the information formerly available in that format is now available online

at no cost to potential bidders.

Anyone wishing to monitor the tax

defaulted land sale process will find all the informa

tion necessary on

our

website.

When a sale is approved by the Board of Supervisors, the list will be available at:

http://www.placer.ca.gov/Tax/LandSale/Properties.aspx

Parcel maps and assessment infor

mation can be viewed and downloaded at:

http://www.placer.ca.gov/Assessor/Assessment%20Inquiry.aspx

Statewide information on upcoming sales is available at th

e State Controll

er’s website at:

http://www.sco.ca.gov/col/taxinfo/tcs/index.shtml

Rogue Tax Sale Investor

150

Please feel free to contact our office

in any of the following ways: t

elephone: 530

889

4120 or 4129

, email

taxcollector@placer.ca.gov

Come to our front desk at 2976 Richardson Drive, 2nd Floor, in Auburn,

California. Send inquiries in the mail to PO Box 7790, Auburn, CA, 95604.

(

)

Frequently Asked Questions

http://www.placer.ca.gov/Departments/Tax/LandSale/FAQ.aspx

The following are typical questions and answers and may assist you in understanding our procedures. If

you have additional

questions, please feel free to call our office at (530) 889

4120 or (530) 889

4129.

What is the date and location of the sale?

Please note that the s

ale location has been changed.

It will

be held in the new CDRA facility at the DeWitt Center, Auburn

he next tax

defaulted land sale will be held on May 23, 2008 in the

Planning Commission Hearing Room

Community Development Resource Center

3091 County Center Drive,

Auburn, CA

When and where is the sale advertised?

The sale is advertised in a newspaper p

ublished in the county

seat (Auburn) approximate

ly three weeks before the sale,

as well

as on our website at Land Sale

(

http://www.placer.ca.gov/Home/Tax/LandSale/Properties.aspx

How and when do I register for the tax sale?

Registration normally begins at 8:00

. the day of the

sale.

Registration forms are available in advance at the Treasurer

Tax Collector’s office in Auburn, or can

be downloaded from our website at Registrat

ion Forms

(

http://www.placer.ca.gov/Departments/Tax/LandSale/~/media/tax/documents/TLS%20Registration%20p

df.ashx

)

. The completed forms (i

n triplicate) will not be accepted until the morning of the sale.

What are the payment req uirements at the sale?

A $500.00 refundable deposit is required when you

the $500.00

cash deposit will be applied to the purchase price. Unsuccessful bidders will be refunded their deposit at

the conclusion of the sale. All sales require full payment, which includes the transfer tax and recording

fee. At the tax collector's di

scretion, purchases over $5,000 may be paid for on a credit payment plan, but

they still require ten percent of the bid or $5,000, whichever is greater, deposited at the time of the sale.

The balance is payable in lawful money of the United States or negot

iable paper, as specified by the tax

collector, within a period specified by the tax collector, not to exceed 90 days from the date of the auction,

as a condition precedent to the transfer of title to the purchaser. If the balance due is not paid within th

period specified,

the deposit is forfeited

, along with all rights with respect to the property (§

3693.1).

Personal checks will not be accepted.

What is the bidding process?

Public auction. You must be present to bid.

What type of document is issued at

the sale?

Receipt at time of sale.

A tax deed is forwarded to the

successful bidder after payment is made in full.

Are ther e any other expenses in addition to the c ost of the lien?

Normally, recording fees and

transfer tax.

What are the f oreclosure and

eviction processes and will the county handle these processes f or a

fee?

No, the county does not handle the foreclosure or the eviction process. The property is sold "as is"

and buyers assume all ownership responsibilities.

What happens to the propertie

s t hat are not sold at the Tax Land Sale?

The property will be offered

at a subsequent sale if not redeemed sooner.

Do you allow individuals to purchase Tax Li en Certificates?

The county does not currently sell tax

lien certificates.

Do you allow indiv

id uals to purchase property at the Tax

Defaulte d Land Sale without attending

the auction via mail, phone or fax? Can I send a representative to the sale to bid for me?

No. The

Rogue Tax Sale Investor

151

public auction requires your presence, or that of your notarized representative,

to orally bid on the

properties.

What if I have questi ons and cannot find the answers online?

Questions can be directed to our office

in a variety of ways:

Telephone:

530

889

4120 or 4129

Email at

tax

collector@placer.ca.gov

Come to our front desk at 2976 Richardson Drive, 2nd Floor, in Auburn, California.

Send inquiries in the mail to P

Box 7790, Auburn, CA, 95604

How may I obtain a copy of the statu

es regarding tax sales in your jurisdict

ion?

The California

State statu

es are available at your public library or on the Internet at

http://www.leginfo.ca.gov/calaw.html

Do liens or encumbrances on a tax

defaulte d property transfer to the

new owner after purchase of

the property at a tax sale?

A tax deed to the purchaser conveys title free of most encumbrances existing

before the sale (e.g.

Deed of Trust, mechanic

’

s liens, judgments, as wel

l as all prior delinquent taxes

Those encumbran

ces which continue, primarily liens of special assessments and easements, are

described in Section No. 3712 of the Revenue & Taxation Code.

Is there any reason the tax sa le may be postponed?

Yes, the tax

defaulted land sale may be

postponed due to public

calamity, illness of staff personnel, inclement weather or other events that may

occur on the date of the sale.

The right of redemption is automatically extended to the close of business

on the last business day prior to the new sale date.

Parcels are so

ld on an “As Is” basis and Placer County assumes no responsibility, implied or otherwise,

that the properties are in compliance with zoning ordinances, conform to building codes and permits or

the situs address. No government entity is liable for damages s

ustained to property purchased at public

auction, including from the time of sale until the recordation of the tax deed to the purchaser.

Rules subject to change between now and commencement of sale.

ROGUE INVESTOR NOTE

: See web page for directions to th

e Tax Collector’s Office and the Board of

Supervisor’s Chambers; and addresses and phone numbers of frequently requested County

Departments.

(4) Historic Land Sale Results

http://www.placer.ca.gov/Departments/Tax/LandSale/HistoricLandSaleResults.aspx

Tax land sale results for sales dating back to 2003.

)

2008 Tax

Land Sale Properties

http://www.placer.ca.gov/Departments/Tax/LandSale/Properties.aspx

Please refresh this screen to ensure you are viewing the latest information.

If you plan to attend the Tax Land Sale, and wish to bid on any of the parcels listed below, please t

ake a

moment to print out the registration form

(

http://www.placer.ca.gov/Departments/Tax/LandSale/~/media/tax/documents/TLS%20Registratio

n%20p

df.ashx

)

. Please bring

three

copies of the completed form with you to the sale. This will speed the

registration process immensely. Thank you!

ROGUE INVESTOR NOTE

: The p

roperty list

for the May 23, 2008 tax land sale (as of April 7, 2008)

availa

ble on

the

dat

a CD that accompanies this book (within the file folder “Tax Sale Lists”).

Rogue Tax Sale Investor

152

RIVERSIDE COUNTY, CA

LIFORNIA

http://www.countyofriverside.us

TREASURER

TAX COLLECTOR’S OFFI

http://www.treasurer

tax.co.riverside.ca.us

Treasurer Paul McDonnell

(1) News and I nformation

http://www.treasurer

tax.co.riverside.ca.us/ne

ws.html

Tax Defaulted Auction

Although this office does not sell tax liens, we do sell tax defaulted property at

auction. Check out the Tax Sale Information page for more information

(

http://www.treasurer

tax.co.riverside.ca.us/tax_sale_information.html

We will be posting additional

information on the sale and properties being offered as it becomes available.

Special assessments for hazardous weed abatement:

http://www.treasurer

tax.co.riverside.ca.us/weedabate.html

(2) Upcoming Tax Sales and Informat ion

http://www.treasurer

tax.co.riverside.ca.us/tax_sale_information.html

Live Auction

(Must be present to bid)

March 17, 2008

, 9:00 a.m.

Riverside Convention Center

3443 Orange Street, Riverside, CA

Bidder Registration by mail until

March 3, 2008

Bidder

Registration in person until

March 11, 2008

Note: We will not be registering bidders at the sale.

Note: The Treasurer

Tax Collector will be accepting credit bids at the March 17, 2008 tax sale. The

purchase price of each parcel of each transaction must

be $50,000.00 or higher, whether it is single

parcel or a group bid. The deposit amount for each parcel must be 10 percent of the amount of the bid.

The deposit must be in cash or cashier’s checks.

(2a) Bidder Instru

ctions

http://www.treasurer

tax.co.riverside.ca.us/tsinfo

179.pdf

Excerpts from web page

2007

2008

Procedural Changes on Bidder Information

Anyone who wishes to bid on property offered for sale

must first be regist

ered and assigned a bid card.

You may register and receive your bid card at the office of the Treasur

Tax Collector, 4080 Lemon

Street

, 4th Floor, Riverside

,CA

92501. We will be registering bidders in our office through 4:00 p.m.

March 11, 2008. Should

you

elect to register through the mail, your registration must be postmarked no

later than March 3, 2008.

You may not register at the sale.

We will require valid picture identification at

the time of registration and at the tax sale

when paying for propert

y purchased (example: Valid Driver

License, Valid Military ID card, Valid California ID card).

We no longer have escrow accounts. You must

pay for your purchase or credit bid immediately upon being awarded the successful bid.

You must vest the way you reg

ister. Once registered, we will not accept any changes to vesting.

If you

wish to register/vest for someone not present at the tax sale, at the time of registering you must

show power of attorney for each person you are representing. If you wish to registe

r/vest as a public

agency, a

company, a corporation or a partnership, you will need to provide

notarized copies

of the

document that gives

you the authority to register/vest on their behalf. This documentation might be in the

Rogue Tax Sale Investor

153

form of a minute order of the

board, a board resolution, and registration of a partnership or articles of

incorporation.

We will not accept changes in vesting.

Payment in full

of the amount bid, plus documentary stamp tax prescribed by County Ordinance #516 or

payment

of the credit

bid deposit, is required to be paid at the time of the sale. All sales will be for cash in

lawful money of the

United States, certified or cashier's checks made payable to Riverside County

Treasurer

Tax Collector in increments of

no less than $100.00 each.

No traveler’s checks or money

orders will be accepted. No cash refunds will be made at

the time of sale. All refunds for payments made

will be issued by county warrant within sixty (60) days following the

date of sale.

If you have a credit

balance on your

receipt that you intend to use on a later purchase, you must go back to the specific

cashier who issued that receipt.

All sales are final.

Even if the successful bidder makes a mistake and bids on the wrong property, the sale

will

remain final. All sal

es of property must be paid for immediately. If the property is not paid for

immediately the sale of

that parcel will be declared null and void and the property will be re

offered

immediately prior to the continuance of the

sale on other parcels. No opport

unity will be given for any

successful bidder to go to the bank prior to completing

payment of the sales price. All bidders interested

in a particular parcel or parcels are encouraged to stay until they are

certain that the property has been

paid for in fu

ll and will not be re

offered. Should a successful bidder refuse to pay

for the property they

have bid on, their bid card will be voided and they will forfeit their right to further participate in the

sale.

Please see the attached guidelines governing the

sale.

Any additional information which may be needed concerning this sale can be obtained by telephoning the

Tax

Collector's office at (951) 955

3948 or by e

mail at

taxsale@co.riverside.ca.us

Please

do not telephone the Riverside Convention Center for information regarding the tax sale. Their

building

is only a location we are renting in order to conduct the sale. They have no specific information

regarding the

sale.

If you need further assistance co

ntact the Tax Collector’s office at (951) 955

3948.

ROGUE INVESTOR NOTE

: See web page for additional information, including

examples of vesting on

registration card, caution

–

investigate before you bid, bidding procedure,

frequently asked questions,

tax

rate area numbers and locations for Riverside County, parcel

numbering system explanation, assessment

number explanation,

definitions related to list of properties to be sold, contact information, contiguous

parcels offered as group bids, and credit bid in

formation

(2b) Bidder Registration Form

http://www.treasurer

tax.co.riverside.ca.us/BIDDER%20REGISTRATION%20FORM%20tc179.pdf

(2c) List of Pr operties to

be Offered For Sale

http://www.treasurer

tax.co.riverside.ca.us/tsl179_int.pdf

(pdf format)

http://www.treasu

rer

tax.co.riverside.ca.us/tsl179.xls

(Excel format)

ROGUE INVESTOR NOTE

The property list

is available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

(2d)

Properti es No Longer On Sale

http://www.treasurer

tax.co.riverside.ca.us/179Parcels.htm

(2e)

Properti es Offered in a Group Bid

http://www.treasurer

tax.co.rivers

ide.ca.us/groups179.html

ROGUE INVESTOR NOTE

The property list

is available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

Rogue Tax Sale Investor

154

(2f) Parcel Maps for Properties to be Offered

http://pic.asrclkrec.com/Default.aspx

Please note that the maps are also available for purc

hase in our office for $26.50.

Please contact our

office for additional information

(3) Results from Previous Tax Sales

http://www.treasurer

tax.co.riverside.ca.us/tax_sale_results.html

ROGUE INVESTOR NOTE

: See web page for tax sale results covering the period of January 2000

through March 200

(4)

Inventor y of All

Tax Defaulted Property

http://www.treasurer

tax.co.riverside.ca.us/Tax_Sale_Inventory.html

This is the entire inventory of parcels subject to the Tax Collectors Power o

f Sale as of July 1, 2

007

Inventory of Parcels Subject to the Power of Sale

(pdf)

http://www.treasurer

tax.co.riverside.ca.us/PTSINT07.pdf

(file updated

October 19, 2007

)

Inve

ntory of Parcels Subject to the Power of Sale

(Excel)

http://www.treasurer

tax.co.riverside.ca.us/allpts_excel_07.xls

(file updated

October 19, 2007

)

Please note:

We will no

t be taking requests to add properties for the March 2007 auction.

The annual mailing list will notify you of future tax sales and includes the tax sale book for our live auction

in March. If you wish to be added to the annual mailing list

send a check o

r money order in the amount of

$35.00 after July 1, 2007 to:

Paul McDonnell, Treasurer

Tax Collector

P.O. Box 12005

Riverside, CA 92502

2205

Attn: Tax Enforcement Division

(5) Contact

http://www.treasurer

tax.co.riverside.ca.us/contact_us.html

Mailing address: P.O. Box 12005,

Riverside, CA

92502

2205

Phone: (951) 955

3900

Fax: (951) 955

3906

Email:

ttc@co.riverside.ca.us

SACRAM

ENTO COUNTY

, CALIFORNIA

http://www.saccounty.net/index.htm

TAX COLLECTION & BUSINESS LICENSING DIVISION

http://www.finance.saccounty.net/T

ax/Default.asp

(1) Tax Sale Informat ion

http://www.finance.saccounty.net/Tax/TaxSale.asp

Auction list =

http://w

ww.finance.saccounty.net/Tax/PDF/AuctionList.pdf

Lots =

http://www.finance.saccounty.net/Tax/PDF/Lots.pdf

Removed items =

http://www.finance.saccounty.net/Tax/PDF/REMOVEDList.pdf

Postponed items =

http://www.finance.saccounty.net/Tax/PDF/POSTPONED.pdf

Public auction information =

http://www.finance.saccounty.net/Tax/PDF/AuctionInformation.pdf

Registration form =

http://www.finance.saccounty.n

et/Tax/PDF/RegistrationForm.pdf

Offered list =

http://www.finance.saccounty.net/Tax/PDF/OfferedList.pdf

Rogue Tax Sale Investor

155

ROGUE INVESTOR

: See web page for tax sale frequently asked questions. No prop

erties were offered

at the February 25, 2008 public auction. The next public auction will be April 28, 2008 at 9:30 a.m., at the

Scottish Rite Masonic Center, 6151 H Street, Sacramento, CA 95819.

(2) Contact Information

http://www.finance.saccounty.net/Tax/Contacts.asp

700 H Street, Room 1710 (First Floor)

Sacramento, CA 95814

Mailing address:

P.O. Box 508

Sacramento, CA 95812

0508

Tax defaulted land

Phone:

(916) 874

6621

Email:

http://www.finance.saccounty.net/Tax/SendEmail.asp

subscribe for property tax sale notifications:

http://

service.govdelivery.com/service/subscribe.html?code=CASACRAM_53

SAN BERNARDINO COUNT

Y, C ALIFORNIA

http://www.co.san

bernardino.ca.us

TAX COLLECTOR

http://www.mytaxcollector.com/trDefault.aspx

Tax

defaulted properties may be purchased semi

annually through our office via an Online Auction. The

next sale is scheduled for May 19

23, 2008.

Tax Sales

(

)

Terms and Conditions

http://www.mytaxcollector.com/trTaxSale_TC.aspx

The next tax sale is scheduled for May 19th

23rd, 2008.

Bids will be accepted beginning May 17th, 2008. Closing times will vary on each parcel between

the 19th

and 23rd of May, 2008.

This tax sale will be held online at

http://www.bid4assets.com

Notice to Parties Concerning Redemption

The right of redemption shall terminate at 5:00 p.m. May 16th,

2008, the

last business day prior to the sale. Any remittance sent by mail for redemption of tax

defaulted

property must be received in the Tax Collector's office by 5:00 p.m.

May 16

2008, in the form of cash,

cashier

’

s check or bank money order.

Prospective Bi

dders

A deposit is required prior to bidding on any auction. The deposit must be made a

minimum of 3 business days before any bids may be placed. The deposit will be accepted by Bid4assets

starting April 21, 2008. Bid4assets must receive all deposits no

later than May 13, 2008 in order to

participate in this sale. Please plan ahead and allow enough time to make your deposit. The required

deposit is $5,000. A $15 fee is charged per deposit. The deposit will be accepted via wire transfer or by

mailing a cer

tified check or money order to Bid4assets only. All unsuccessful bidders will receive a refund

of their deposit plus fee within

7 to 10

business days after the close of all auctions. The deposit for

successful bidders will be transferred to the County and

credited towards their purchase(s).

Winning bidders who do not perform on all auctions won will forfeit their deposit to the County.

Properties that are subject to sale at public auction for non

payment of property taxes must be offered for

sale within f

our years of the time the property becomes subject to the Tax Collector’s power to sell. The

Tax Collector is responsible for the administration of these sales.

Rogue Tax Sale Investor

156

The purpose of the tax sale is to collect the unpaid taxes and to convey the tax

defaulted pro

perty to a

responsible owner. These properties are subject to the Tax Collector’s power to sell because of defaulted

taxes.

The sale of these properties should not, in any way, be equated to real estate sales by licensed

salesmen, brokers or realtors. The

County Tax Collector cannot guarantee the condition of the property

nor assume any responsibility for conformance to codes, permits or zoning ordinances. You should

inspect the property before investing. The burden is on the purchaser to thoroughly resear

ch, before the

tax sale, any matters relevant to his or her decision to purchase, rather than on the county, whose sole

interest is the recovery of back taxes. It is recommended that bidders consult with the Zoning Department

of any city within which a par

ticular parcel lies, or the Zoning Section of the County Planning Department

for an unincorporated area parcel. Tax defaulted property will be sold on an

“

as is

”

basis.

Should the successful purchaser desire a survey of the property, this must be done at

the purchaser’s

expense. No warranty is made by the county, either expressed or implied, relative to usability, the ground

location, or property lines of the properties. The prospective purchaser must determine the exact location,

desirability, and usefuln

ess of the properties. Refund of any purchase or any payment on a purchase

agreement will not be made.

The county assumes no liability for any other possible liens, encumbrances or easements, recorded or

not recorded.

The minimum price at which property

may be offered for sale shall be an amount not less than the total

amount necessary to redeem and the costs of the sale.

The parcels will be sold to the highest bidder.

Settlement Requirements:

High Bidder must pay in full within five (5) busine

ss day

s from each auction

close.

Acceptable forms of payment will be:

Certified/Cashier's Check

ank Money Orders (made payable to Count

y of San Bernardino

Treasurer

Tax Collector)

Cash (paid at the San Bernardino County Tax Collector's office)

Wire Transfer.

Please Note: A documentary transfer tax of $0.55 will be added for each $500, or fraction thereof, of the

final sales price.

Personal checks, traveler's c

hecks and credit cards will not be accepted.

Title Convey ed

The Tax Deed conveys title to the

purchaser free of encumbrances of any kind existing

before the sale, except:

(a) Any lien for installments of taxes and special assessments

(such as Weed, Water Stand

By,

Demolition and Bond),

which installments will become payable upon the secured roll

after the time of

the sale.

(b) The lien for taxes or assessments or other rights of any taxing agency which does not consent to

the sale of the property.

sale, not included in the amount necessary to redeem the tax

defaulted property, and, where a taxing

agency which collects its own taxes has consented to the sale, not included in the amount required to

redeem from sale to the taxing agency.

(d) Easement

s constituting servitudes upon or burdens to the property; water rights, the record title to

which is held separately from the title to the property; and restrictions of record.

Rogue Tax Sale Investor

157

(e) Unaccepted, recorded, irrevocable offers of dedication of the property to

the public or a public

entity for a public purpose, and recorded options of any taxing agency to purchase the property or

any interest therein for a public purpose.

(f) Unpaid assessments under the Improvement Bond Act of 1915 (Division 10 [commencing wi

Section 8500] of the Streets and Highways Code) which are not satisfied as a result of the sale

proceeds being applied pursuant to Chapter 1.3 (commencing with Section 4671) of part 8.

(g) Any Federal Internal Revenue Service liens which, pursuant to p

rovisions of federal law, are not

discharged by the sale, even though the tax collector has provided proper notice to the Internal

Revenue Service before that date.

(h) Unpaid special taxes under the Mello

Roos Community Facil

ities Act of 1982 (Chapter 2.

[commencing with Section 53311[

of Part 1 of Division 2 of Title 5 of the Government Code) that are

not satisfied as a result of the sale proceeds being applied pursuant to Chapter 1.3 (commencing with

Section 4671) of Part 8.

If the property is sold a

t auction after redemption has been made, or sold in error, a refund of only the

purchase price and documentary tax will be made and with the full understanding and agreement of the

purchaser that the Tax Collector has no further liability in the matter.

he following information is furnished to the prospective bidder

without warranty

and is for the

convenience and guidance in locating all parcels. All items and descriptions listed are believed to be

correct. However, the Tax Collector shall not be held res

ponsible for typographical errors.

As the State law does not provide the Treasurer

Tax Collector with means of refund in the case of such

sale at public auction,

use caution and investigate before you bid

Do not

attempt to purchase property at

the auctio

n unless an investigation has been made as to the exact location, desirability and usefulness of

the property. Parcels are sold on an "as is" basis and the County in no way assumes any responsibility

implied or otherwise, that the properties are in compli

ance with zoning ordinances and conformance to

building codes and permits. An investigation may reveal that the property is in a street or alley, in a flood

control channel or landlocked, and that improvements that may be shown on the tax sale list no long

exist at the time of auction and a lien may have been or will be placed on the property for their removal.

It is the purchaser's responsibility to determine if there are any liens or special assessments. It is

suggested the Current Tax Roll, County Tr

easurer, Cities, Land Use Services and Special Districts be

researched before time to purchase. Contact city or county Planning Department for zoning and building

restrictions.

The Tax Collector shall resolve any dispute arising on any aspect or transacti

on of the sale, and his

decision shall be final.

Contact

information for other c

ounty

ffices:

Assessor

172 West Third Street

San Bernardino, CA 92415

0310

phone:

(909) 387

8307

County Clerk and Recorder

222 West Hospitality Lane

San Bernardino, CA 9

2415

0018

phone:

(909) 387

8306

Land Use Services

385 North Arrowhead Avenue

San Bernardino, CA 92415

0182

phone:

(909) 387

4044

Rogue Tax Sale Investor

158

Transportation/Flood Control

825 East Third Street

San Bernardino, CA 92415

0835

phone:

(909) 387

8104

Special Districts

157 West 5th Street

San Bernardino, CA 92415

0450

phone: (909) 387

5940

) Current Sale Items

http://www.mytaxcollector.com/trTaxSale_CSI.aspx

Click on the links

provided

to view parce

ls in the denoted range.

Click here for a list of parcels no longer eligible for tax sale:

http://www.mytaxcollector.com/_content/TR/TaxSale/

CurrentSale/StaticContent/droppedParcelList.htm

(3)

Previous Sales Results

http://www.mytaxcollector.com/trTaxSale_Results.aspx

Tax sale results for sales dating back to October 2

001

)

Brochure/Map Order Information

http://www.mytaxcollector.com/trTaxSale_Brochure.aspx

Brochures for the auction will be available through the Tax Collector's office beginnin

g February 27, 2008

at a cost of $35.00 each. A set of maps for all parcels in the brochure is available for $75.00. A CD

containing both brochure and maps will also be available at a cost of $110.00. To purchase by mail

please send the order form with you

r check, name and address to the Tax Collector's office and the

brochure/maps/CD will be mailed. Because brochures/maps/CDs are mailed UPS, post office boxes are

unacceptable addresses.

The property descriptions appearing in the brochure are the County As

sessor's brief legal descriptions. In

some cases, they have been further abbreviated due to space requirements.

Brochure i

ncludes:

Item Number

Tax Rate Area

Parcel Number

Situs Address (if available)

Legal Description

Minimum Bid

Current Assessee a

nd Mailing Address

Redemption Amounts

Assessed Values and Tax Amounts.

Please include the order form with your payment. The brochure/maps/CD will be mailed upon receipt of

your payment.

Once payment has been received no refund will be given.

Click he

re for the order form:

http://www.mytaxcollector.com/_content/TR/TaxSale/CurrentSale/orderForm.pdf

Rogue Tax Sale Investor

159

)

Contact Information

http://www.mytaxcollector.com/cuContactUs.aspx

172 West Third Street, First Floor

San Bernardino, CA 92415

0360

Phone, Tax Collection: (909) 387

8308

Online contact:

http://www.mytaxcollector.com/trFeedback.aspx

S AN DIEGO COUNTY, CA

LIFORNIA

http://www.sdcounty.ca.gov

TREASURER

TAX COLLECTOR DEPART

MENT

http://www.sdtreastax.com

Dan McAllister, Treasurer

Tax Collector

(1) Contact Information

http://www.sdtreastax.com/au_contactus.html

Main Office,

County Administration Center

1600 Pacific Highway, Room 162

San Die

go, CA 92101

Phone: (619) 236

2424

Fax: (619) 531

6056

Email:

taxmantr@co.san

diego.ca.us

Feedback form:

http://www.sdtreastax.com/au_feedback.ht

(2) Frequently Asked Questions

http://www.sdtreastax.com/ni_faqs.html

Frequently asked questions related to p

roperty tax sales (

http:/

/www.sdtreastax.com/ni_faqs.html#7

Where and when will the next

public auction tax s

ale for San Diego Co unty be held?

At a location

and tentative date and time indicated in our next Public Auction Tax Sale Brochure, this website, and

Information line

(619) 531

4862. Typically our sales are held at the end of February at a downtown

location.

How can I obtain a list of proper

ties to be offered at the next tax s

ale?

By completing a Tax Sale

Mailing List card available through this office for our Publ

ic Auction Tax Sale brochure, which is published

approximately six to eight weeks prior to a tentative sale date. The cost for the 2005 brochure and

diskettes has not yet been established. Brochures will be available for purchase at one of our office

locat

ions, or by mail. Also, the informati

on will be available at our web

site address, which is

http://www.sdtreastax.com

. Copies of the County Assessor’s plat maps of the tax sale properties are

available for perusal

in the Assessor’s office, Room 103, approximately six to eight weeks prior to the

tentative tax sale date. Individual maps are also available on a self

serve basis.

Can I mail in, or submit, a sealed bid f or a property in the public auction tax sale?

No.

The public

auction requires your presence, or that of your representative, to verbally bid upon the properties.

Can I obtain a property available at the public auction tax sale by paying the delinquent taxes

thereon prior to the tax sale date?

No. Legal t

itle to a tax

defaulted property subject to the Treasurer

Tax Collector’s power to sell can be obtained through the Treasurer

Tax Collector only by being the

successful bidder at the tax sale.

How do I find or “see” a property I’d like to bid upon at the

tax sale?

Vacant (unimproved) land

(which accounts for most property offered at our tax sales) has no address and therefore its approximate

geographic location can only be determined through the use of County Assessor plat maps and perhaps

Rogue Tax Sale Investor

160

a map book. Exac

t boundary lines of a property can be determined only by a survey of the property

initiated at the purchaser’s expense. “Improved” properties frequently (but not always) will bear a street

address, making it easier to locate the property.

ROGUE INVESTOR

NOTE

: See web page for additional frequently asked questions related to tax sales.

(3) Legal Advertisements

http://www.sdtreastax.com/pts_legal.html

Public notices related to the sale of tax def

aulted properties.

(4) Tax Sale Forms

http://sdtreastax.com/pts_forms.html

Form Fill

in Feature. These forms can be filled in on

line and printed out for mailing to the Treasurer

Tax

Collector. Click

here for instructions on how to complete fill

in forms

http://www.sdtreastax.com/pts_fillins2.html

Deed Information

http:/

/www.sdtreastax.com/docs/pts_deedinfo_7022.pdf

Tax Sale Mailing List Card

http://www.sdtreastax.com/docs/mailinglistcard.pdf

) Tax Sale Gener al Information

http://www.sdtreastax.com/pts_info.html

(

) Right of Redemption

http://sdtreastax.com/pts_info_ror.html

The right of redemption on a parcel ceases at 5:00 p.m.

the last business day prior to the sale.

If there is an item number not offered, it means that the item has been redeemed or withdrawn prior to the

sale. The term

“Redeemed”

indicates that all defaulted taxes, penalties, fee(s), and/or costs have been

aid in full. The term

“Withdrawn”

indicates that the parcel will not be offered at sale. Reasons for

withdrawing a parcel from sale can include, but are not limited to, an assessee who is the debtor in

bankruptcy, unprobated estate, the Treasurer

Tax Colle

ctor's determination to sell at another sale, and/or

an error in advertising

noticing.

(5b

) Terms and Conditions

http://sdtreastax.com/pts_info_tac.html

Properties in San Diego County that are

subject to sale at public auction for non payment of property

taxes must be offered for sale within four years of the time the property becomes subject to the Treasurer

Tax Collector's power to sell (Revenue and Taxation Code Section 3692). The Treasurer

ax Collector is

responsible for the administration of these sales.

The purpose of the tax sale is to collect the unpaid taxes and to convey the tax

defaulted property to a

responsible owner. These properties are subject to the Treasurer

Tax Collector's p

ower to sell because of

liens for defaulted taxes. Tax

defaulted properties subject to the Tax collector's power to sell may be

purchased from the San Diego County Treasurer

Tax Collector at Public Auction. The San Diego County

Treasurer

Tax Collector does

not offer tax lien certificates or make over the counter sales.

The minimum price at which property may first be offered for sale per Section 3698.5 of the California

Revenue and Taxation Code shall be an amount not less than the total amount necessary to

redeem, and

the costs of sale.

Where property has been offered for sale at least once and no acceptable bids have been received, the

Treasurer

Tax Collector may re

offer that property within 90 days, or at the next scheduled sale at a

minimum price that

he deems appropriate.

Rogue Tax Sale Investor

161

The Tax Deed to Purchaser conveys title free of all encumbrances of any kind existing before the sale

with the following exceptions as stated in Section 3712 of the Revenue and Taxation Code:

(a) Any lien for installments of taxe

s and special assessments, which installments will become

payable upon the secured roll after the time of the sale.

(b) The lien for taxes or assessments or other rights of any taxing agency which does not consent to

the sale under this chapter.

ens for special assessments levied upon the property conveyed which were, at the time of the

sale under this chapter, not included in the amount necessary to redeem the tax

defaulted property,

and, where a taxing agency which collects its own taxes has con

sented to the sale under this chapter,

not included in the amount required to redeem from sale to the taxing agency.

(d) Easements constituting servitude upon or burdens to the property; water rights, the record title to

which is held separately from the

title to the property; and restrictions of record.

(e) Unaccepted, recorded, irrevocable offers of dedication of the property to the public or a public

entity for a public purpose, and recorded options of any taxing agency to purchase the property or

any

interest therein for a public purpose.

(f) Unpaid assessments under the Improvement Bond Act of 1915 (Division 10 (commencing with

Section 8500) of the Streets and Highways Code) which are not satisfied as a result of the sale

proceeds being applied pur

suant to Chapter 1.3 (commencing with Section 4671) of Part 8.

(g) Any federal Internal Revenue Service liens which, pursuant to provisions of federal law, are not

discharged by the sale, even though the Tax Collector has provided proper notice to the In

ternal

Revenue Service before that date.

(h) Unpaid special taxes under Mello

Roos Community Facilities Act of 1982 (Chapter 2.5

(commencing with section 53311) of Part 1 of Division 2 of Title 5 of the Government Code) that are

not satisfied as a result

of the sale proceeds being applied pursuant to Chapter 1.3 (commencing with

Section 4671) of Part 8.

Any such encumbrances have not been researched, nor are they included in the sale notice of this

brochure.

Each parcel, or group of parcels, has an it

number. Non

timeshare parcels

will be sold in item number

order. If there is an item number not listed on the Current Year Parcel List, that means that the item has

been redeemed or withdrawn prior to the sale. If there is a numerical gap between item n

umbers, the

same holds true. If an item is not sold at the initial time offered, it will be offered again after all of the non

timeshare items have been offered once.

Timeshares are listed separately beginning with Item #2000. They will be offered in item

number order

after all non

timeshare properties have been offered and re

offered. If a timeshare item is not sold at the

initial time offered, it will be offered again after all of the timeshare items have been offered once.

Whatever right, title and/or

interest the last assessee holds, as described in the legal description, is the

same and only right, title and/or interest that is conveyed at the time the Tax Deed is recorded.

Some properties being offered at this sale are a divided or undivided fract

ional interest in the property; for

example, condominiums. The legal description should be reviewed to determine the property and interest

that is to be conveyed by the Tax Deed.

Timeshare Tax Sale Items being offered at public auction tax sale by

the Sa

n Diego County Treasurer

Tax Collector are a deeded interest or

“

right to use

”

a particular unit or unit type within the timeshare

association for a specified interval of time on an annual, bi

annual or seasonal basis, as described in the

legal description

of the timeshare interval. It is the tax

defaulted timeshare interval that is being offered for

sale at public auction, not the entire building or Timeshare Association.

Rogue Tax Sale Investor

162

The property descriptions are the County Assessor's brief legal descriptions. In so

me cases, they have

been further abbreviated due to space requirements.

Full and/or complete legal descriptions are available

only

by researching recorded deeds, and other documents, affecting the property.

A list of properties redeemed or withdrawn prior

to the sale will be maintained in room 162, County

Administration Center, 1600 Pacific Highway, San Diego, CA 92101. You may also call (619) 531

4862

for sale status updates or

visit

our "Current Year Parcel List"

link at this site:

http://www.sdtreastax.com/pts_currentyear.html

(5c

) Bidder Registrati on

http://sdtreastax.com/docs/pts_bid_reg.pdf

Registration, Public Auction, Tax S

ale No. 7022

(Please Read Carefully)

Anyone wishing to bid on Tax Sale Items being offered on the day of the sale must be registered prior to

being allowed to bid. Participants who have pre

registered will be allowed first entry and choice of seating

the day of the sale on a first

come, first

serve basis. Same day registrants must pay a non

refundable

registration fee of $60.00 to register, complete the same requirements as pre

registrants and should

arrive early to allow adequate time to register befo

re the sale begins. Same day registrants will not be

admitted or seated until after 8:30 a.m., after the pre

registered bidders have had an opportunity to be

seated.

Seating is limited. If the number of registrants exceeds room capacity, entry into the sa

le may be delayed

until there is vacant seating available. All seating is on a first

come, first

serve basis based on availability

of seating. Entry to the sale will be granted to those with Bidder ID badges, on a priority basis.

How to Pre

1. C

omplete and have all parties taking title sign the Deed Information Sheet

The Deed Information Sheet is necessary for the completion of a Tax Deed to Purchaser

Sale.

Additional documentation may be required to show that the party/parties bidding at the

sale have the

authority to purchase on behalf of the entity to be vested on title to property purchased at the sale.

2. Pay a non

refundable $30.00 fee for the Bidder Registration Packet

The Bidder Registration Packet includes:

One

Tax Sale Brochure fo

r Public Auction Tax Sale No. 7022

One

Bid Card

Two

Bidder ID Badges

Frequently Asked Questions Tax Sales Pamphlet

3. Pay a refundable deposit of $100.00.

The deposit will be applied to the Bidder’s first purchase of Tax Sale Item at the sale. If bidder

does not

purchase any property at the sale, the unused deposit will be returned within

business days after the

day of sale.

Only t

he following forms of payment will be accepted:

Cash

Money Order

Traveler’s Check

Cashier’s/Certified Check

Rogue Tax Sale Investor

163

Money Ord

er, Traveler’s Check, and/or Cashier’s/Certified Check(s) should be made payable to:

San

Diego County Treasurer

Tax Collector.

Where to Pre

You can pre

egistration after February 15, 2008 will only be accepted at our main office located at the County

Administration Center, located in Downtown San Diego at 1600 Pacific Highway, Room 162, San Diego,

California 92101.

(5d

)BidCards

http://sdtreastax.com/pts_info_bc.html

An official numbered Bid Card is required to participate in the public auction tax sale. Bidders will

only

identified, during the sale, by the number on their Bid Card. Bid Cards ar

e only av

ailable with the

purchase of a r

egistration packet. Each

egistration packet contains one Bid Card, two Bidder ID Badges,

and one Brochure. Anyone wishing to bid on Tax Sale Items being offered at sale must be registered to

bid. Click here for B

der Registration instruction:

http://www.sdtreastax.com/docs/pts_bid_reg.pdf

(5e) Title Vesting Schedule

http://www.sdtreasta

x.com/docs/titlevesting.pdf

(5f

) Payment Information

http://sdtreastax.com/pts_info_pi.html

Do not

bid on an item if you do not have cash, or one of the acceptable negotiable forms of payment

list

ed below, with you at the time of bidding. You will not be allowed additional time to obtain funds.

Successful bidders will be immediately escorted to the cashier's table to complete the sale.

Acceptable forms of payment: cash, money order, traveler’s che

ck, cashier’s/certified check.

Unacceptable forms of payment: personal checks, business checks, credit cards.

Mailed or sealed bids cannot be accepted for our public auction sale. You or your agent must be present

at the auction to bid on the properties.

The right of redemption on a parcel ceases at 5:00

p.m.

of the last

business day prior to the sale. After each parcel is offered, the successful bidder must pay the full

purchase price to the Treasurer

Tax Collector on any high bid

item of $5,000.00 or les

s. (F

or high bid

items over $5,000.00, see "

Credit Sales

nformation below

The Documentary Stamp Act requires the payment of a "Transfer Tax" at the rate of 55 cents for each

$500.00 of value or fractional part thereof when the bid exceeds $100.00. Th

e transfer tax will be

collected at the time the purchase price is paid in full.

) Credit Sales

http://sdtreastax.com/pts_info_cs.html

If the high bid on an item is more than $5,000.00, the succ

essful bidder has the option to pay for the

property as follows:

A deposit of

10%

of the purchase price or $5,000.00, whichever is greater, must be made at the time of

the sale.

For sales between $5,000.00 and $50,000.00, a minimum of $5,000.00 must be

deposited.

For sales over $50,000.00 a minimum of ten percent (10%) of the sale price must be deposited.

The remaining balance of the purchase price is due within

days of the auction date, Monday, March

24, 2008. Payment must be in one of the accep

table forms and be received in our office prior to the

deadline. A

cceptable forms of payment are cash (or wire), money order, traveler's check, or

cashier's/certified c

heck. Title to the property will not be transferred until the total bid price plus the

Rogue Tax Sale Investor

164

ocumentary Transfer Tax is received. All purchases must be paid in full on, or before

Monday, March

24, 2008. If the buyer fails to pay the full amount by 5:00 p.m. on Monday, March 24, 2008, the deposit

and all rights to the property are forfeited (Reven

ue and Taxation Code Section 3693.1).

(5h

) Warning

–

Research Before You Invest

http://sdtreastax.com/pts_info_wrbyi.html

(5i

) Deed Information

http://sdtreastax.com/pts_info_di.html

A "Deed Information Sheet"

(

http://www.sdtreastax.com/docs/pts_deedinfo_7022.pdf

)

must be completed

prior to the purchase of property at the

auction. Extra forms will be available at our information table at the

tax sale. The information required is necessary for the proper completion of a Tax Deed to Purchaser.

Completion of forms beforehand will help speed up the sale.

The San Diego County

Treasurer

Tax Collector is encouraging bidders to pre

Auction Tax Sale No. 7022 to be held Friday, February 22, 2008 at 9:00 a.m. Bidders wishing to p

Deed Information

Sheet”

filed in our office no late

r than 5:00 p.m., Thursday,

February 21, 2008.

The successful bidder may take possession of a property after the Tax Deed to Purchaser has been

recorded. However, most title companies will not insure the title until one year after the tax sale deed is

corded. Legal action to challenge a tax sale must be brought within one year of the tax sale deed

recording date. Therefore, it is not advisable to make any improvements to the property during the first

year of ownership.

Note

: In the event that a sale i

s canceled, all payments made will be returned without interest. Any costs

incurred by the purchaser during the process will be borne by the purchaser.

(

)

Property Maps

http://sdtreastax.com/pts_inf

o_pm.html

Plat maps on the properties are available in the Assessor's

ffice, room 103. The maps show the

approximate dimensions and general geographical location of the properties. Copies of maps are also

offered for sale by the Assessor in Room 103 and

on this website by selecting "detail map" for desired

parcel(s) and clicking "show Detail Map

A representative from the Assessor's Office will be available at the Tax Sale to answer questions

pertaining to assessment and ownership. Thank you for your i

nterest in participating in the San Diego

County's Public Auction Tax Sale.

(5k

) Zoning Links

–

Local Planning and Building Departments

http://sdtreastax.com/pts_info_zl.html

Links to

city and coun

ty zoning and land use departments.

(5l

) Timeshare Associations

http://sdtreastax.com/pts_timeshare.html

Timeshare Tax Sale Items being offered at public auction tax sale by the San Diego County T

reasurer

Tax Collector are a deeded interest

or “right to use”

a particular unit or unit type within the timeshare

association for a specified interval of time on an annual, bi

annual or seasonal basis, as described in the

legal description of the timeshar

e interval.

It is the tax

defaulted timeshare interval that is being offered for sale at public auction; not the entire

building nor Timeshare Association.

Only those Timeshare Associations located within the county of San Diego with ownership intervals

that

have been tax

defaulted for five or more years are listed. There are timeshare intervals subject to the

Rogue Tax Sale Investor

165

ollector’s power to sell in the communities of Carlsbad, Coronado, Del Mar, Escondido, Oceanside,

Pacific Beach, Ramona, San Diego and Solana

Beach.

ROGUE INVESTOR NOTE

: See web page for property listing.

(

) Current Year Parcel List

http://sdtreastax.com/pts_currentyear.html

Public Auction Tax Sale

No. 7022

Tax

Defaulted Properties

Within San Diego County, State of California

Held on Friday, February 22, 2008

at 9:00 a

at the San Diego

Convention Center

located at

111 W.

Harbor Drive, Room 20A, San Diego, CA 92101.

Public Auction Tax Sale 7022

–

List of parcels scheduled for sa

le:

http://www2.sdcounty.ca.gov/treastax/taxsale/taxsale.asp

) Prior Year Tax Sale Results

http://www.sdtreastax.com/

pts_prioryear.html

Prior year sales results, dating fro

m February 1999 to February 2006

SAN FRANCISCO COUNTY

, CALIFORNIA

http://www.sfgov.org

OFFICE OF THE TREASU

RER

TAX COLLECTOR

http://www.sfgov.org/site/treasurer_index.asp

Jose Cisneros, Treasurer

(1) Public Auction of Tax Defaulted Properties

http://www.sfgov.org/site/treasu

rer_index.asp?id=16318

General Tax Sale Information

The public auction sale of tax

defaulted properties in San Francisco will be conducted at

www.Bid4Assets.com

on Saturday, April 26, 2008 at 8:00 a.m. (PT) unt

il Tuesday, April 29, 2008 at 12:00

p.m. (PT) as a public auction to the highest bidder for cash in lawful money of the United States or

negotiable paper, for not less than the minimu

m bid as shown on this notice.

Parcels receiving no bids, at

the tax coll

ector’s discretion, will be re

offered at

www.Bid4Assets.com

at a minimum price appropriate to

stimulate competitive bidding.

(List of Tax Sale Parcels:

http://www.sfgov.org/site/uploadedfiles/tax/property_zone/AuctionList.pdf

)

Notice to Parties of Interest Concerning Redemption

–

The right of redemption shall terminate at 5:00

p.m. (PT) on April 25th, 2008, the last b

usines

s day prior to the sale.

Any remittance sent by mail for

redemption of tax

defaulted property must be received in the Tax Collector’s Office by 5:00 p.m. April

25th, 2008, in the form of cash, cashier

’s

check or bank money order.

Prospective Buyers

–

Only

bids submitted via the Internet will be acc

epted.

Bidders interested in offline

bidding options should call Bid4Assets at 1

877

427

7387. A deposit of $5,015 is required prior to bidding

on any auction. The deposit must be made no later than April 22, 200

8 at 1:00 p.m. (PT) in order to

participate in this tax sale. Bidders must register on

line at

https://secure.bid4assets.com/register

.All

unsuccessful bidders will receive a refund of their deposit

within

business days a

fter the close of the

auction.

The deposit of the successful bidders will be

applied to the purchase price.

Full payment and

deed information indicating how title should be vested is required within 72 hours after the end of the sa

le.

A recording fee of $10.00 and a California transfer tax will be added to and collected with the purchase

price and is calculated at $2.50 for each $500 or portion there of if the entire value or consideration is

Rogue Tax Sale Investor

166

more than $100 but less than or equal to

$250,000. If the entire value or consideration is more than

$250,000 but less than $1,000,000, the transfer tax will be $3.40 for each $500 or portion there of.

Successful bidders not completing payment may be pursued for collection and will forfeit thei

r deposit to

the county.

Inspection of Property

Caution

–

Investigate before you bid. Physical inspection of the property is strongly recommended. Do not

attempt to purchase any property at the auction unless, prior to the auction, an investigation has b

een

made as to the title, exact location, desirability, and usefulnes

s of the properties available.

Parcels are

sold on an “

As Is

” basis and the City and County of San Francisco in no way assumes any responsibility,

implied or otherwise, that the propertie

s are in compliance with zoning ordinances or conform to building

codes and permits.

Bidders are required to conduct any research of due diligence they wish to con

duct prior to submitting a

bid.

A bid is an irrevocable

offer to purchase a property.

A bid

ccepted is a binding contract.

A bidder is

legally and financially responsible for all properties bid upon whether representing one

’s self or acting as

an agent.

The City and County of San Francisco Treasurer and Tax Collector reserve

the right to pursue

all available legal remedies against a non

paying bidder.

Vacant (unimproved) land may not have an address; therefore, the approximate geographic location can

be determined through the use of the County Assessor

’s Plat Maps.

The City and County of San

ancisco does not furnish metes and bounds descriptions, nor does it assume any responsibility for any

such descriptions recorded in County records

Exact boundary lines of vacant, “unimproved

” and

“improved” properties can only be determined by a survey o

f the property, initiat

ed at the purchaser’s

expense.

To determine what use can be made of the property, consult the Planning Department of the

City and County of San Francisco for zoning information.

Note:

Neither the State of California, nor the City an

d County of San Francisco, nor any person

designated by these two agencies is liable for:

Damages sustained to any property purchased at public auction from

the time of the sale until the

time of

recordation of the tax deed to purchaser.

The failure of an

y electronic equipment that may prevent a person from participating in the sale.

Known or unknown conditions of any property purchased at public auction, including, but not

limited to, errors in the assessor’s records pertaining to improvement of the prope

rty.

Contaminated/Possible Contaminated Properties

Parcels offered for sale may contain hazardous wastes, toxic substances, or other substances regulated

by feder

al, state, and local agencies.

The C

ity and County of San Francisco,

in no way, assumes an

responsibility, implied or otherwise, for any costs or liability of any kind imposed upon or voluntarily

assumed by a purchaser or any other owner to clean up, or otherwise bring into compliance according to

federal, state, or local environmental

laws fo

r any parcel purchased.

The Tax Collector shall not have any

duty to investigate the status of any parcel with regard to contamination by environmentally hazardous

materials.

Title to Property Purchased

Title to “Tax Defaulted Property Subject to Power t

o Sale” does not pass to the purchas

er until a tax deed

is issued.

It is advised that you

do not

engage in any activity or make any expenditure on any property

you may purchase until yo

u have received your tax deed.

This includes any attempt to collect ren

ts on

improved property and/or dispossess or in any way contact tenants. The San Francisco Treasurer and

Tax Collector

does

not provide the purchaser with a title insurance policy and makes no representations

or warranties with respect to the condition of

the title.

A tax deed will be prepared by the San Francisco Office of the Treasurer and Tax Collector and will be

recorded approxima

tely one month after the sale.

After recordation, the deeds will be returned to the

Rogue Tax Sale Investor

167

respective purchasers by the San Franci

sco Cou

nty Assessor

Recorder’s Office.

Should title to the

property you purchased be recorded incorrectly due to your failure to provide the correct information,

will be your responsibility to correct the title.

Sale After Redemption

Occasionally, a

property is sold at auction after redemption has been made by the current owners, or is

sold in error. In these cases, a refund of the purchase price will be made with full understanding and

agreement of the purchaser that the San Francisco Treasurer and T

ax Collector has no further liability in

the matter.

All sales are final unless

the County Board of S

upervisors rules them invalid.

If the sale is ruled invalid,

the purchase price will be refunded.

General Auction Questions

1. How is the minimum sale p

rice for a tax sale determined?

State law dictates that the minimum sale

price for a tax

defaulted parcel offered at a public auction shall be no less than the total amount

necessary to redeem the parcel plus costs.

2. Can I obtain a property available at

the tax sal e by paying the delinquent taxes prior to the tax

sale date?

No. Legal title to tax

defaulted property subject to the tax collector’s power to sell can be

obtained only by becoming the successful bidder at the county tax sale.

3. How do I find

or see a property I would like to bid on at the tax sale?

While we try to give all

possible assistance in helping prospective purchasers pinpoint a property location, vacant land has no

address and must be determined through the use of county assessor pla

maps and perhaps, a map

book.

Exact boundary lines of a property can be determined only by a survey of the property initiated at

the purchaser’s expense.

4. How can I determine what use I can make of a tax sale property before I purchase it?

Consult the

San Francisco Planning Department

, Zoning Section for land use.

Examine the county recorder’s records

for any rec

orded easements on a property.

You can also order a title search report from a local title

insurance company.

5. How soon can I take possessi

on of a property after m y purchase at the tax sale?

You should

consult an attorney. Generally, the successful bidder may take possession of a property after making

payment in full and complying with any conditions set forth between the tax collector and th

e successful

bidder.

6. Is the tax sale publicly advertised?

The public auction notice is published three times in successive

seven

day intervals before the tax sale date, in the San Francisco Chronicle Newspaper, on March 7,

March 14 and March 21, 2008.

7. How will title in the deed of the purchaser be vested?

Title is vested in the

name of the actual

purchaser.

If title is to be vested differently, we require a notarized letter from the individual for whom you

are acting as an agent, stating the manner

in which title is to be vested.

8. Do liens or encumbrances on a tax

defaulted property transfer to the new owner aft er purchase

of the property at a tax sale?

Pursuant to Section 3712 of the Revenue and Taxation Code, the tax

deed conveys title to the pu

rchaser free of all encumbrances of any kind existing before the sale, except:

Any lien for installments of taxes and special assessments, which installments will become

payable upon the secured roll after the time of the sale.

The lien for taxes or asses

sments or other rights of any taxing agency that does not consent to

the sale under this chapter.

Liens for special assessments levied upon the property conveyed which were, at the time of the

sale, not included in the amount necessary to redeem the tax

faulted property.

Rogue Tax Sale Investor

168

Unaccepted, recorded, irrevocable offers of dedication of the property to the public or a public

entity for a public purpose, and recorded options of any taxing agency to purchase the property or

any interest therein for a public purpose.

Any federal Internal Revenue Service liens that, pursuant to provisions of federal law, are not

discharged by the sale, even though the tax collector has provided proper notice to the Internal

Revenue Service before that date.

) Contact Information

http://www.sfgov.org/site/treasurer_page.asp?id=13433

http://www.sfgov.org/site/treasurer_page.asp?id=13434

For

questions regarding property tax, business tax, collection notices, and/or for general assistance,

please contact Taxpayer Assistance.

Taxpayer Assistance

phone: (415) 554

4400

Treasurer

phone: (415) 554

4478

Office Location

City Hall, Room 140

1Driv

e Carlton B. Goodlett Place

San Francisco, CA 94102

Business inquiries and payment, please mail to:

San Francisco Tax Collector

P.O. Box 7425

San Francisco, CA 94120

Email:

Treasurer.TaxCollector@sf

gov.org

SAN JOAQUIN COUNTY,

CALIFORNIA

http://www.co.san

joaquin.ca.us

TREASURER

TAX COLLECTOR’S OFFI

http://www.sjgov.org/Treasurer

Shabbir Khan,

Treasurer/Tax Collector

500 E. Main Street

, First Floor

Stockton, CA 95202

Mailing address: P.O. Box 2169, Stockton, CA

95201

2169

Phone: (209) 468

2133

Fax: (209) 468

2158

Email:

Treasury@co.san

joaquin.ca

(1) Services

http://www.sjgov.org/Treasurer/Services.htm

The Tax Collection Division conducts the auction of Power to Sell property.

(2) Public Auction Information

http://www.sjgov.org/Treasurer/AuctionPacket0

.htm

San Joaquin County Tax Collector’s Public Auction

–

November 14, 2007

Thank you for your inquiry regarding the San Joaquin County Tax Collector’s Public Auct

ion. Attached is

a list of properties that will be offered at auction on

November 14, 2007

at 10:00 a.m., at the Micke Grove

Park Auditorium, 11793 N. Micke Grove Road, Lodi, CA. A $2.00 parking fee will be due at the gate,

Rogue Tax Sale Investor

169

regardless if you are an active

bidder or an observer. Registered bidders will be seated first; observers

will be seated only if space is available.

The owners of the listed properties have until 5:00 p.m.

May 26, 2004 to redeem their defaulted taxes

and remove their property from our

auction. There is no extended right of redemption in the State of

California.

Properties offered at a tax sale are offered on an “As Is” basis. Tax sales are a buyer beware sale.

Purchasers are advised to read the information provided and investigate eac

h property you are interested

in purchasing before you buy.

Registration:

There is no pre

registration. Registration will be conducted at the auction site on the day of

the sale. A Driver’s License or other type of identification along with evidence of a

bility to pay is required

to register to bid at the auction. A bidder number will be issued at the time of registration and is required

to participate at the public auction. If you will be acting as an agent, a notarized letter from the individual

for whom

you will be bidding, stating the manner in which title is to be vested, is required.

Successful bidders must settle their purchase at the time of the sale or immediately after the auction.

Payments must be made in the form of cashier’s check or money or

der. Personal checks will be accepted

if accompanied with a letter of credit from your bank. The letter of credit needs to state that the funds are

available the day of the sale and at least 10 days after the auction. Cash will not be accepted.

If you re

quire special accommodations at the public auction site, please contact the Redemption Tax

Section at (209) 468

2133

two weeks

prior to the auction date.

Combination of Parcels:

Items grouped in a lot are offered as a grouping. Should one property within

lot be redeemed and the taxes on the remaining property or properties within the lot remain outstanding,

the remaining property or properties will be offered at the auction. The minimum bid for the lot is the

combined minimum bids for each parcel in the

lot. The lots are listed in the comment section of the

auction list.

Bidding:

Properties will be offered in the order listed. If no bid is received, the parcel will be re

offered at

the next auction. If all properties cannot be offered today, the sale w

ill be continued to a date to be

announced.

This is an oral public auction requiring verbal bids on the properties. Bidding will be in increments of

$100.00 or higher until the parcel is sold to the highest bidder. Higher increments are acceptable should

the bidders wish to expedite the sale. The auctioneer may announce the bids on certain properties be bid

in higher increments than $100.00.

No bid will be accepted for less than the minimum bid amount.

The Assessor’s parcel number and the minimum bid

will be read before starting the bidding for each item.

Properties not sold will be auctioned at the next tax sale.

Successful Bid:

Upon the final bid for each item, the successful bidder will be asked to sign their name

and bidder number on a sheet, an

d will be handed a form with the parcel number printed on it. Prior to

paying for the parcel the form must be filled out exactly as you want the purchase deed to be prepared.

Also include the address to which the purchase deed should be mailed. Please prin

t clearly.

Payment in Full:

No cash will be accepted at the public auction. Successful bidders must settle their

purchase at the time of the sale or immediately after the auction. Payments must be made in the form of

cashier’s check or money order. Perso

nal checks will be accepted if accompanied with a letter of credit

from your bank. The letter of credit needs to state that the funds are available the day of the sale and at

least 10 days after the auction.

Rogue Tax Sale Investor

170

A Documentary transfer tax will be collected i

n addition to the amount of the bid at the rate of sales price

times .0011.

On the day of the sale the

Fiscal Year

2007

08 Secured Property tax bill will

be presented to

the new owner.

This current year tax bill is not included in the bid price.

Refunds:

No refunds will be made at the time of sale. All refunds for overpayments made by cashier’s

check or money order will be issued by a County warrant within 15 working days following the date of

sale.

Receipts:

A receipt of payment showing all deeding info

rmation will be completed at the time of payment.

The receipt should be checked carefully for any errors in the deeding information so that the purchaser

may notify the Tax Collector of corrections before the recording of the tax deeds.

Tax Deed:

A tax d

eed will be issued to the purchaser within 60 days of the auction. Should title to the

property you purchased be recorded incorrectly due to your failure to provide the correct information, it

will be your responsibility to correct the title.

Property Ins

pection:

Research and investigate the property before you buy.

Properties offered at a tax sale are offered on an “As Is” basis. The County in no way assumes any

responsibility, implied or otherwise, that the properties are in compliance with zoning ordi

nances or

conform to building codes and permits.

Tax sales are a buyer beware sale. It is the responsibility of the interested bidder to research the parcels

they are interested in purchasing before you buy (i.e., Recorder’s Office, Planning Department,

nvironmental Health Department). Refer to Section 3712 of the California Revenue and Taxation Code

regarding liens and encumbrances on a property sold at a tax sale.

Code Violations:

Code violations may be currently outstanding on the property being offe

red for sale.

The sale of the property through the auction does not postpone or affect any enforcement procedures to

bring the property into code compliance.

Please see the frequently asked questions about the auction

(

http://www.sjgov.org/Treasurer/AUCTIONFAQ07.htm

Contaminated Parcels:

Parcels offered for sale may contain hazardous wastes, toxic substances, or

other substances regulated by federal, state, and local agencies. The Count

y in no way assumes any

responsibility, implied or otherwise, that the parcels are in compliance with federal, state, or local laws

governing such substances. The County in no way assumes any responsibility, implied or otherwise, for

any costs or liability

of any kind imposed upon or voluntarily assumed by a purchaser or any other owner

to remediate, clean up, or otherwise bring into compliance according to federal, state, or local

environmental laws on any parcel purchased. The Tax Collector shall not have

any duty to investigate the

status of any parcel with regard to contamination by environmentally hazardous materials. Known

contaminated properties are referenced on the auction list and announced at the tax sale prior to being

offered.

Encumbrances (Li

ens on Property):

The following is a copy of the Revenue and Taxation Code 3712,

Title Conveyed. This section informs you of any encumbrances that are not satisfied at the time of your

purchase.

Chapter 7, Section 3712 of the California Revenue and Taxat

ion Code states: The deed conveys title to

the purchaser free of all encumbrances of any kind existing before the sale, except:

(a)

Any lien for installments of taxes and special assessments, which installments will become

payable upon the secured roll after

the time of the sale.

(b)

The lien for taxes or assessments or other rights of any taxing agency which does not consent to

the sale under this chapter.

(c)

Liens for special assessments levied upon the property conveyed which were, at the time of the

sale under t

his chapter, not included in the amount necessary to redeem the tax

defaulted

Rogue Tax Sale Investor

171

property, and, where a taxing agency which collects its own taxes has consented to the sale

under this chapter, not included in the amount required to redeem from sale to the tax

ing agency.

(d)

Easements constituting servitudes upon or burdens to the property; water rights, the record title to

which is held separately from the title to the property; and restrictions of record.

(e)

Unaccepted, recorded, irrevocable offers of dedication o

f the property to the public or a public

entity for a public purpose, and recorded options of any taxing agency to purchase the property or

any interest therein for a public purpose.

(f)

Unpaid assessments under the Improvement Bond Act of 1915 (Division 10 [c

ommencing with

Section 8500] of the Streets and Highways Code) which are not satisfied as a result of the sale

proceeds being applied pursuant to Chapter 1.3 (commencing with Section 4671) of Part 8.

(g)

Any federal Internal Revenue Service liens which, pursu

ant to provisions of federal law, are not

discharged by the sale, even though the tax collector has provided

proper notice to the Internal

evenue Service before that date. Note: A title search initiated at the prospective purchaser's

expense should reveal

any liens or encumbrances on a property in the tax sale.

(h)

Unpaid special taxes under the Mello

Roos Community Facilities Act of 1982 that are not satisfied

as a result of the sale proceeds being applied pursuant to Chapter 1.3 (commencing with Section

467

1) of Part 8.

Mobile Homes:

If a parcel offered for sale has a mobile home on it, the sale is for the real property only

and does not include the mobile home. Mobile homes are considered personal property, unless they are

on a permanent foundation.

Par

cel Maps:

Parcel maps are available for inspection and/or purchase prior to the tax sale in the

Assessor’s Office, 24 S. Hunter Street, Stockton, CA.

Title Insurance:

The former assessee or any lienholder has one year from the date of recording of the

x deed to challenge the validity of the tax sale (Revenue and Taxation Code 177 and 3725). During this

one

year challenge period, it may not be possible to obtain a guaranty of clear title from a title company.

Title companies may not issue their policy of

title insurance on property that was purchased through tax

defaulted public auction, unless a quiet title action has been successfully pursued in the courts, or in lieu

thereof, quit claim deeds are acquired from the former assessee or every lienholder. T

o learn more about

quiet title actions, you may consult with an attorney experienced in real estate transactions.

Sales are final. Legal action will be taken if any successful bid is revoked.

Information regarding State of California County

ublic aucti

ons is available on the State Controller

’

website:

http://www.sco.ca.gov/col/taxinfo/tcs/pubauctions

If you have any additional questions, please

contact the Redemption Tax Section at (20

9) 468

2133.

(3) Public Auction Frequently Asked Questions

http://www.sjgov.org/Treasurer/AUCTIONFAQ07.htm

There will be a $3.00 parking fee. Individuals not registered to bid may observe

only if space is available.

The list is available on our website

–

see the link at the top of this page

(

http://www.sjgov.org/Treasurer/2007%20Auction.htm

). The list is also available thr

ough the mail for

$5.00 (P.O. Box 2169, Stockton, CA 95201

2169) or can be picked up in our office for $5.00 when

available.

There is no pre

registration. Registration will begin at 9:00 a.m. on November 14, 2007.

Accepted method of payment is either ca

shier’s check, money orders, and checks with a letter of credit

from the bank. No cash will be accepted.

Public Auction How It Works

The following explains the sale of tax

defaulted land by public auction. When secured real property

remains tax

defaulte

d for five years, it becomes subject to the Tax Collector's Power to Sell, and

may be

sold at public auction.

The purpose of offering tax

defaulted property at auction is to collect the unpaid

taxes.

Rogue Tax Sale Investor

172

an Joaquin hold

s"In

Person" Public Auctions.

For 2007,

the auction is planned for November 14, 2007

at the Micke Grove Park Auditorium.

How often are public auctions held?

The law requires that a sale be held at least once every four

years. San Joaquin County strives to hold auctions once a year.

Are tax sal

es publicly adver t ised?

Yes. State law dictates that notice of a tax sale must be published

once a week for three successive weeks in a newspaper of general circulation published in the county.

How can I obtain a list of proper ties that wi ll be offered fo

r sale at public aucti on?

The list of

available properties can be requested by sending $5.00 to San Joaquin County Treasurer

Tax Collector,

P.O. Box 2169, Stockton, CA 95201

2169. For further information, please call the County Tax Collector’s

Office, Rede

mption Division, at (209) 468

2133.

How do I find or see property on which I want to bid at the tax sale?

Improved properties frequently

will have a "situs" (street) address, making it easier to determine its general location. However, vacant

land, which

accounts for most properties offered at auction, usually has no address. Parcel maps

obtainable through the County Assessor’s Office (phone: 209

468

2658) can determine the approximate

location of any parcel. Exact boundary lines of a property

can be deter

mined only by a survey of the

property, initiated at the prospective purchaser's expense.

Who qualifies as a potential bidder at public auction?

All bidders must be at least 18 years of age.

Bidders must register and receive their Bidder’s Packet and Regi

stration Num

ber prior to placing any

bids.

A picture identification must be presented when registering to bid. If you will be acting as an agent, a

notarized letter from the individual for whom you will be bidding, stating the manner in which title is to b

vested, is required.

Can I mail in or submit a sealed bid for a property in the auction?

No.

The public auction requires

your presence, or that of your representative, to verbally bid upon the properties.

How is the minimum bid amount determined?

When

a property first becomes eligible for public

auction, the minimum bid cannot be less than the total amount to redeem the property, plus costs

associated with

offering the parcel for sale.

If any property is not sold due to lack of interested bidders,

the m

inimum bid for those particular properties may be reduced at subsequent sales.

How will title to the property be vested

? Title will be vested in the name of the actual purchaser

present at the sale. If you are acting as an agent, and title is to be vested

differently, a letter is required

from the individual for whom you are acting as agent, stating the manner in which title is to be vested. A

Notary according to California law must acknowledge the signature of the individual.

How soon can I take possessi

on of a property after my purchase at the public auction?

The

successful bidder may take possession of a property immediately after making payment in full. A tax deed

will be issued to the purchaser within 60 days of the auction. However, the validity of t

he Tax Collector’s

deed to the purchaser may be challenged within one year after the execution of the deed. In addition, if

the property purchased has an IRS lien on it, the Internal Revenue Service has the right to redeem the

property from the purchaser,

up to 120 days from the date of the sale.

If you have any questions or comments regarding any of the brochures, please write to the San Joaquin

County Treasurer

Tax Collector, P.O. Box 2169, Stockton, CA 95201

2169.

ROGUE INVESTOR NOTE

: See web page for

additional questions and answers.

(4) 2007 Auction List

http://www.sjgov.org/Treasurer/2007%20Auction.htm

Updated November 15, 2007.

ROGUE INVESTOR NOTE

: A copy of the auction list has

been saved to the data CD that accompanies

this

book (within the file folder “Tax Sale Lists”).

Rogue Tax Sale Investor

173

ANTA CLARA COUNTY, C

ALIFORNIA

http://www.sccgov.org/portal/site/scc

TAX COLLECTOR’S OFFI

http://www.sccgov.org/portal/site/tax

Martha Williams, Tax Collector

70 West Hedding Street

East Wing, 6th Floor

San Jose, CA 95110

Phone: (408) 808

7900

Email:

scctax@

tax.sccgov.org

(1) Public Auction of Tax Defaulted Properties

from

http://www.sccgov.org/portal/site/tax

, click on “Auction” under the header “QuickLinks”

Date: Spring

2009 (Tentative)

Time: To be

determined

Place: To be determined

To obtain a list of tax defaulted properties, please mail a check or money order in the amount of $25.00 to

our office. Please do not send cash. Your request should include your name, address, phone number and

email addr

ess for weekly updates. As our next auction is tentatively scheduled for June 2009, the next

auction list will be compiled after January 2009.

Thank you for your interest in the Santa Clara County Tax Collector’s Public Auction. The following

information

has been prepared to assist you in the bidding process:

General Information

A physical inspection of the property before bi

dding is strongly recommended. The

Tax Collector can

not guarantee the condition of the property nor assume any responsibility for

onformance to codes, permits, easements or zoning ordinances.

It is possible that property sold at the tax auction may not be de

velopable under existing laws.

Parcel

maps are available in the Assessment Service

Unit of the Assessor’s Office,

5th floor,

70 West Hedding

reet,

San Jose, CA 95110

or via their website at

www.scc

assessor.org

While all possible assistance is

given in locating properties on maps, the exact location, desirability and usefulness of

the property must

be researched and determined by the prospective purchaser.

Tax d

efaulted property will be sold on an “

As Is” basis.

The County assumes no liability for any other

possible encumbra

nces recorded or not recorded.

A complete investigation o

f all encumbrances should

be made before attending the tax sale.

All sales are final, unless ruled invalid by the County Board of Supervisors.

The former owner’s right to redeem the property ceases at 5:00 p.m. the

day prior to the auction date.

The

former owner has a one

year challenge period to p

rove that the sale is invalid.

This must be done in

a court of law. During this one

year challenge period, it may not be possible to obtain a clear title to the

property from a title company. In the event th

at the former owner is successful at overturning the sale,

then any improvements done to the property would not be reimbursed.

Please be aware if it is subsequently determined that the Tax Collector should not have sold a specific

property, the Board of

Supervisors has the authority, under Revenue and Taxation Code Section 3731, to

rescind the sale.

Purchased property must be paid for at the time of sale with cash, cashier’s check, traveler’s checks or

mon

ey orders made payable to you.

If you are the

successful bidder you will be required to endorse the

check(s) to the Tax Collector.

Personal checks will not be accepted. The payment amount will include the

full purchase price plus any transfer taxes.

Rogue Tax Sale Investor

174

Once the list of delinquent properties is prepare

d it wil

l have a minimum bid.

What we recommend is that

you get a cashier’s check, traveler’s check, or money order made payable to you for the minimum bid of

your planned purchase. Then depending on what you are willing to spend, bring your certified fund

sin

gh/small increments.

This will allow you flexibility in asserting the parcel price. If the certified funds are

over the purchase price, the excess funds will be refunded to you by mail in approximately two to three

weeks after the purchase date.

As a

bidder, y

ou are responsible to know the laws pertaining to tax auctions and the laws pertaining to

ownership and the associated liability you will assume as the owner.

Bidder’s Instructions

An Auction Clerk will be on hand to answer your questions

before th

e start of the

public auction.

Please refrain from asking questions during the auction.

Registration will be held between 8:00 a

and 10:00 a

on June 29, 2005

You will be required to

complete a registration form at that time and submit a

bidder’s security deposit of $1,000.00. This deposit

should be in the form of cash, cashier’s check, money order or traveler’s checks. No personal checks will

be accepted.

The bidder’s security deposit will be applied to the purchase price or will be ref

unded if no purchase

occurs.

Please be pre

pared to present a photo I.D. (

driver

’

s license or passport

)

at the time of registration.

The deed will be prepared in the name of the actual purchaser at the sale. If you wish title to be vested

differently, we

require a notarized letter from the individual for whom you are acting as agent, stating the

manner in

which title should be vested.

This letter must be presented at the time of registration.

Upon completion of the registration form, you will receive a n

umbered “bidder card

” Please hold this card

high so the auctioneer will be able to acknowledge your bid.

The properties will b

e auctioned in numerical order.

Items missing or not offered have either been

redeemed or withdrawn prior to the sale.

Payment

must be made before the close of the auction. You will be asked to sign a purchase agreement

and

receipt.

Please keep this receipt until you have r

eceived your purchaser’s deed.

You should receive

the deed approximately two weeks from the auction date.

OGUE INVESTOR NOTE

: See web page for

sampling of some typical questions asked by prospective

bidders

(2) Bidder Registration Form

In Adobe Acrobat PDF format:

ttp://www.sccgov.org/SCC/docs%2FTax%20Collector%20%28DEP%29%2FBRF2007.pdf

In Microsoft Word format:

http://www.sccgov.org/SCC/docs%2FTax%20Collector%20%28DEP%29%2

FBRF2007.doc

In Rich Text format:

http://www.sccgov.org/SCC/docs%2FTax%20Collector%20%28DEP%29%2FBRF2007.rtf

Rogue Tax Sale Investor

175

SANTA CRUZ COUNTY, C ALIFORNIA

http://www.co.santa

cruz.ca.us

TREASURER

TAX COLLECTOR’S OFFI

http://www.co.santa

cruz.ca.us/ttc

Fred Keeley, Treasurer

Tax Collector

Room 150, County Government C

enter

Santa Cruz, CA 95060

Phone: (831) 454

2510

Fax: (831) 454

2257

Email:

TTC.WEBMAIL@co.santa

cruz.ca.us

(1) General Information

http://w

ww.co.santa

cruz.ca.us/ttc/giguide.htm

Office prepares and mails notices of Power to Sell; determines parcels to sell at public auction

(

http://www.co.santa

cruz.ca.us/ttc/auction.htm

) and s

elects dates of the sale; coordinates sale and

accounts for proceeds of sale.

(2) Public Auction of Tax Defaulted Properties

–

Frequently Asked Questions

http://www.co.s

anta

cruz.ca.us/ttc/Frequently%20asked%20questions.htm

Property is sold “As Is”

–

inspect before you buy.

Why does the County sell tax

defaulted property?

When secured real property remains tax

defaulted

for five years, it becomes subject to the Tax C

ollector's Power to Sell, and may be sold at public auction.

The purpose of offering tax

defaulted property at auction is to collect the unpaid taxes and to convey title

of the property to a responsible owner.

Buyer Beware!

It is your responsibility as a

bidder to have investigated any parcels that you wish to bid

on. No statement is made nor implied as to what use you may put the parcel if you are the successful

bidder. See the next item below as to how to determine what use can be made of the property. I

t is also

recommended you physically look at the property to determine its use.

How can I determine what use I can make of a tax sale pr operty before I purchase it?

Consult the

zoning department of the city in which the property lies or the zoning section

of the County Planning

Department for a property in an unincorporated area of the county (i.e., not lying within an incorporated

city's limits) regarding use of the parcel. In addition, examine the County Recorder's records for any

recorded easements on t

he property. You may wish to consult an attorney at law for a full determination

of the property's use potential.

How often are public auctions held?

The law requires that a sale be held at least once every four

years. In Santa Cruz County auctions are he

ld approximately every other year.

Are tax sales publicly advertised?

Yes. State law dictates that notice of a tax sale must be published

three times in successive seven

day intervals before the tax sale date, in a newspaper published in and

of general c

irculation within the county.

Can I mail in or submit a sealed bid for a property in a public auction?

You can fax a proxy bid via

an Offline Bid Form to Bid4Assets, the online auction venue that will be facilitating the sale, p

rior to the

auction open da

te.

Bid4Assets must receive Offline Bid Forms by the date and time the online auction

opens in order to ensure bids are posted.

Offline bid forms will be available approximately 30 days prior to the auction open date and may be

downloaded from the Bid4A

ssets w

eb site once

the auction is posted online.

Please go to

www.Bid4Assets.com/TaxSale

for sale details.

Rogue Tax Sale Investor

176

Can I obtain a property available at the tax sale by paying the delinquent taxes prior to the t

ax sale

date?

No. Legal title to a tax

defaulted property subject to the Tax Collector's Power to Sell can be

obtained only by becoming the successful bidder during the on

line auction. Paying taxes on such

property will only cause its redemption for the a

ssessed owner.

When is the last da y t he property owner may redeem the tax

defaulted property, to prevent its sale

at Auction?

The right to redeem a tax

defaulted property subject to the Power to Sell ceases at the close

of business (5 p

) on the last bu

siness day prior to the sale.

How do I find or see property on which I want to bid at the tax sale?

While we try to assist

prospective purchasers to pin

point a property location, vacant land (which accounts for most properties

offered at auction) usually

has no address. The approximate location can be determined by the County

Assessor's parcel maps. Improved properties frequently (but not always) will bear a situs (street) address,

making it easier to determine the general location. Exact boundary lines o

f a property can be determined

only by a survey of the property, initiated at the prospective purchaser's expense.

Who qualifies as a potential bidder at public auction?

Anyone who wishes to bid at the online public

auction must register with Bid4Assets a

nd submit a pre

bid deposit within the posted dea

dlines to qualify

as a bidder.

Detailed instructions on how to submit a pre

bid deposit will be posted on Santa Cruz

County

’s auction w

eb site. Please visit

www.Bid4Assets.com/TaxSale

for sale details.

How is the minimum bid amount determined?

When a property first becomes eligible for public

auction, the minimum bid shall not be less than the total amount to redeem the property, plus costs

associated with o

ffering the parcel for sale. If any property is not sold due to lack of interested bidders,

the minimum bid for those particular properties may be reduced at subsequent sales.

How and when does the succes sful bidder pay for a property at the tax sal e?

Set

tlement Terms will

be posted on each auction once the parcels have been posted for sale. Please go to

www.Bid4Assets.com/TaxSale

for sale details.

Do liens or encumbrances on tax defaulted property transf

er to the new owner after the purchase

of the property at public auction?

Section 3712 of the California Revenue and Taxation Code states:

Title conveyed. The deed conveys title to the purchaser free of all encumbrances of any kind existing

before the sal

e, except:

Any lien for installments of taxes and special assessments, which installments will become

payable upon the secured roll after the time of the sale.

The lien for taxes or assessments or other rights of any taxing agency which does not consent t

the sale under this chapter.

Liens for special assessments levied upon the property conveyed which were, at the time of the

sale under this chapter, not included in the amount necessary to redeem the tax

defaulted

property, and, where a taxing agency wh

ich collects its own taxes has consented to the sale

under this chapter, not included in the amount required to redeem from sale to the taxing agency.

Easements constituting servitudes upon or burdens to the property: water rights, the record title to

whic

h is held separately from the title to the property: and restrictions of record. Unaccepted,

recorded, irrevocable offers of dedication of the property to the public or a public entity for a

public purpose, and recorded options of any taxing agency to purc

hase the property or any

interest therein for a public purpose.

Unpaid assessments under the Improvement Bond Act of 1915 (Division 10 (commencing with

Section 8500) of the Streets and Highways Code) that are not satisfied as a result of the sale

proceeds

being applied pursuant to Chapter 1.3 (commencing with Section 4671) of Part 8.

Any federal Internal Revenue Service liens which, pursuant to provisions of federal law, are not

discharged by the sale, even though the tax collector has provided proper noti

ce to the Internal

Revenue Service before that date.

Unpaid special taxes under the Mello

Roos Community Facilities Act of 1982 (Chapter 2.5

(commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code) that

are not satisfied a

s a result of the sale proceeds being applied pursuant to Chapter 1.3

(commencing with Section 4671) of Part 8.

Rogue Tax Sale Investor

177

Are ther e any guarantees which accompany prope rty acquired at public auction?

No. All parcels

offered at public auction are sold "as is". No war

ranty is expressed or implied in any manner regarding

property sold at the public auction, including, but not limited to, the following example: no claims are

made to guarantee access to, or building permits for, any of the parcels involved in the sale. Pr

ior to

bidding, it is your responsibility to adequately research properties, so you know what you are buying. Lack

of adequate research may result in the purchase of unusable property, with no entitlement to a refund.

All

sales are final.

How will title t

o the property be vested?

Title will be vested in the name of the actual purchaser. Upon

completion of the auction, Bid4Assets will notify all purchaser

s via email of their winnings.

Purchasers will

be directed to an online form, or “Deed Wizard

” via a li

nk within the congratulatory email that will capture

vesting information for each parcel purchased.

If you are acting as an agent, and title is to be vested differently, we require a notarized letter from the

individual for whom you are acting as agent,

stating the manner i

n which title is to be vested.

This letter

must be received by the settlement deadline as detailed in the Deed Wizard form.

How soon can I take possession of a property after my purchase at the online auction?

You should

consult an at

torney. Generally, the successful bidder may take possession of a property after making

payment in full and complying with any conditions set forth between the tax collector and the successful

bidder. However, the validity of the tax collector's deed to th

e purchaser may be challenged within one

year after the execution of the deed. In addition, if the property purchased has an IRS lien on it, the

Internal Revenue Service has the right to redeem the property from the purchaser, up to 120 days from

the date

of the sale.

(3)

2007 Tax Defaulted Properties Auction

http://www.co.santa

cruz.ca.us/ttc/Parcel%20List%202007%20Tax%20Sale.pdf

Results of parcels sold at auctio

n March 12

14, 2007.

VENTURA COUNTY, CALI

FORNIA

http://www.ventura.org

TREASURER

TAX COLLECTOR’S OFFI

http://www.ventura.org/taxcollector

Lawrence Matheney,

Treasurer, Tax Collector, Public Administrator

Email:

lawrence.matheney@ventura.org

(1) Contact Information

http://www.ventura.org/ta

xcollector/PhoneNum.html

Ventura County Tax Collector

800 South Victoria Avenue

Ventura, CA 93009

1290

Phone

, Public Auction Tax Sales:

(805) 654

3741

(2) Public Auction

http://portal.countyofventura.org/portal/page?_pageid=822,1098644&_dad=portal&_schema=PORTAL

Our auctions are held at the Ventura County Government Center, Administration Building, Lower Plaza

Assembly Room, 800 South Victoria

Ave

nue

, Ventura, CA 93009

1290

To ask a question via email, click here

taxsaledesk@ventura.org

Rogue Tax Sale Investor

178

(2a) Auction Book

http://portal.countyofventura.org/portal/page?_pageid=822,1098667&_dad=portal&_schema=PORTAL

An auction book will be

available

on January 5, 2008.

The cost is $15.00 at our office or $17.50 by mail.

Make your check payable to Lawre

nce L. Matheney and mail to the Vent

ura County Tax Collector, 800 S.

Victoria Ave

nue

, Ventura, CA 93009

1290

If you have any questions please call 805

654

3741.

(

2b)

List of Properties for Sale

http://portal.countyofventura.org/pls/portal/docs/PAGE/TAX_COLLECTOR/PUBLIC_AUCTION/PUBLIC%

20AUCTION%20LIST%203

08.PDF

ROGUE INVESTOR NOTE

: The property list

is available

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

(

) Terms of Sale

http://portal.countyofventura.org/portal/p

age?_pageid=822,1098662&_dad=portal&_schema=PORTAL

All lots or parcels of property are to be sold at public auction "as is" and in the order listed. The minimum

bid shall be as stated per item number, and each raise in bid shall be not less than $100.00

per item.

The descriptions as given are based on the official records in the Ventura County Recorder's office and

are assumed to be correct; however, prospective purchasers are advised to examine the title and location

of the lots or parcels to their ow

n satisfaction

prior to the sale. The County of Ventura makes no

guarantee, expressed or implied, relative to title, location or condition of the lots or parcels for sale, nor for

a clearance by the County of Ventura Planning Department, pursuant to Sectio

n 8113

8, Ventura County

Ordinance Code regulating the use of non

conforming lots. The purchaser may obtain a policy of title

insurance on said properties at their own election and expense. However, it is emphasized that the sales

of the respective propert

ies are subject to conditions, restrictions, reservations and easements of record.

Please note: Prospective purchasers are advised that some bonds or other assessments which are levied

by agencies or offices other than the Treasurer

Tax Collector may still

be outstanding after the sale.

Payment by cash, cashier's check, or certified check in the amount of the bid awarded will be required at

the time of the awarding of bid or immediately after the sale.

Cash or credit sale.

Pursuant to Section 3693.1 of

the Revenue and Taxation Code, the Tax Collector

may make the sale a cash or credit transaction. "In the event the Tax Collector approves the successful

purchaser's request to treat the sale as a credit transaction,

$5,000

or 10 percent of the purchase pri

ce,

whichever is greater, shall be deposited with the Tax Collector and the balance of the purchase price

shall be paid in cash in lawful money of the United States or negotiable paper as specified by the Tax

Collector within a period specified by the Tax

Collector, not to exceed 90 days from the date of the

auction, as a condition precedent to the transfer of title to that successful purchaser. Failure on the part of

the successful bidder to consummate the sale within the period specified by the Tax Collec

tor shall result

in the forfeiture of the deposit and all rights he or she may have with respect to that property."

The Public Auction is an oral a

uction and it requires your presence, or that of your representative, to

verbally bid upon properties. On t

he morning of the sale, prospective purchasers will register their name

and mailing address and show identification. Each bidder will receive an identification number to be used

in the bidding process. If a representative bidder is used, we require a notar

ized letter from the individual

for whom you are acting as an agent, stating the manner in which title is to be vested.

Each successful bidder will receive a receipt which will state the Tax Rate Area and Parcel Number of the

property purchased and the a

mount of his bid. During the auction or immediately thereafter, the

successful bidder shall specify in writing how title to the property purchased is to be vested: Husband and

Wife as Joint Tenants

;

As Tenants in Common

;

A Single Man

;

A Single Woman

;

A Mar

ried Man/Woman

as His/Her Sole and Separate Property

;

Other (Specify)

The purchaser must then present this with full

payment to the cashier, who will issue a receipt.

pproximately four weeks after the sale, the deed will be mailed to the successful bidd

er. This tax deed

conveys the right, title and interest in the property to the purchaser. The deed is recorded at the expense

Rogue Tax Sale Investor

179

of the County of Ventura. In the case of a credit sale, the deed will not be recorded until the sale is

completed.

All sales are f

inal

A California documentary transfer tax will be added to, and collected with

the credit sale deposit or the

full purchase price. This tax is calculated at the rate of $.55 for each $500.00 or fractional part thereof, if

the purchase price exceeds $1

00.00.

(2d) Auction Results

http://portal.countyofventura.org/pls/portal/docs/PAGE/TAX_COLLECTOR/PUBLIC_AUCTION/AUCTION

%20R

ESULTS%203

08.PDF

Public auction results for March 12, 2008.

PRIVATE SECTOR TAX SALE ADMINI STRATORS

BID4ASSETS

http://www.bid4assets.com

(1)

County Tax Sales

http://www.bid4assets.com/help/index.cfm?fuseAction=TaxSale

Upcoming

ounty auctions are continuously added to the site's calendar. To stay appraised of all

upcoming County auctions on Bid4Assets we encourage you to sign

up for our County Tax Sales email

alert so we can notify you when new sales are introduced to the site.

(2) Real E state Storef ronts

http://www.bid4assets.com/marketing/storefrontListi

Rogue Tax Sale Investor

180

Colorado

Tax Lien Sales:

Yes

Over

the

Counter Tax Lien Sales:

Yes. P

arcels not bid on during the sale are struck off to the

county.

Tax Deed Sales:

Rating:

Three Stars (***)

Interest Rate:

The interest is base

dontheFederalReservediscountrateasofSeptember1st

plus

Sale Period

norbeforethesecondMondayofDecember

,accordingtostatelaw.Most

counties conduct the

sales in

October

or November

For a list of tax lien sale dates by county,

sit the Colorado Treasurers and Public Trustees’ website at

http://www.e

ccta.org/Forms/Tax%20Sales/2007%20Tax%20Sales.htm

Redemption Period:

3years

Bidding Process:

The

idding process varies by county

.Auctionsmaybeconductedusinga

round robin process, in which buyers are offered the opportunity to

purchase

tax liens in

rotation. Or the county may set minimum bids, with the winning investor willing to pay the most

for

ataxliencertificate.

Some counties use both bidding processes, depending on the property

classification.

Apremiumbidistheamountpaidabovethetotaladvertisedtaxlienfee.

careful:

remiums on bids are no t refundable, nor do they earn interes

Some counties

are now conducting their tax sales online.

According to state law (section 39

111), the purchase price must be paid in cash.

There may

also be a small tax lien certificate fee (e.g., $4).

Most counties require funds to be placed on

dep

osit before you bid. During bidding, you cannot exceed your deposit amount. Each buyer

must complete a W

form

,which

can be obtained from the IRS.

State

Specific Information:

Colorado is a decent state for tax sales.

Property ownership

because of non

edemption, although rare, can be lucrative because land is often valuable.

Colorado County Links:

See

Colorado

Tax Sales

http://www.coloradotaxliencertificates.com

and

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

Rogue Tax Sale Investor

181

ADAMS COUNTY

,COLORADO

http://www.co.adams.co.us

TREASURER’S OFFICE

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=19&p=231

Adams County Building

450 South 4th Avenue

Brighton, Colorado 80601

3193

Phone:

303

654

6160

Fax: 303.654.6171

(1) Tax Lien Sal

e G eneral Information

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=107&p=259

No Right Of Possession

: It must be understood that the sale and purchase of the

tax or special

assessment lien at a tax sale does not, as it might under simple sales and purchase agreements, convey

the right of possession, use, improvement or access to said property. The buyer is issued a Tax Lien Sale

Certificate of Purchase, which

is a properly recorded lien.

Treasurer's Deed

In the event the lien remains unredeemed, the certificate holder has the right of paying

subsequent years' delinquent taxes (sub

taxing). Sub

taxing normally occurs after the first day of August

each year, a

s redemption interest accrues only as of that date. Three years from the date of the

certificate, if the lien remains unredeemed, the certificate holder may apply for a Treasurer's Deed to the

property. To be eligible for a Treasurer's Deed, the certificat

e holder must make application to the

Treasurer. The procedural process normally takes 3 to 6 months to accomplish. Extenuation of the time

period may occur when there are complex problems related to the property. Deed applications may be

made by the certi

ficate holder 3 calendar months prior to the third anniversary date of the certificate, but

the endorsement of the current year's taxes and/or special assessments will not accrue interest until the

first day of August. When application is made, monies must

be deposited to pay all related deed

expenses. Prior to deed application all subsequent taxes, special assessment liens and current taxes

must be paid and endorsed on the certificate.

If the lien is redeemed, the certificate holder is entitled to intere

st on the taxes, penalty interest,

advertising, and legal charges, which was paid and subsequently endorsed. Liens may be redeemed at

anytime prior to the issuance of a Treasurer's Deed.

Premium (or Bonus) Bids

Bonus bids (premiums) are not returned.

Wrongfully Sold Lien

If a lien is wrongfully sold the County must pay the certificate holder the accrued

interest. The rate will be 8% per annum for the delinquent tax liens sold this year.

Additional Information

If there are further questions, please

call: Tax Lien Sales at 303

654

6376.

(2) Tax Lien Sale Event Information

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=107&p=913

The 2007 Adams County Tax

Lien Sale

will be an internet tax sale.

Information regarding the internet tax

sale will be available on this web site and at

www.adamstaxsale.com

in mid

August.

To register, participate, and view a listing of

available properties for the 2007 Adams County Tax Lien

Sale visit

www.adamstaxsale.com

. Registration for the 2007 Adams County Tax Lien Sale and a list of

the properties available will be on

line October 5, 20

07. The 2007 Adams County Tax Lien Sale will be

November 7th through November 12th.

The 2007 Adams County Mobile Home Tax Sale will be a physical sale on November 27th in the

Treasurer's Office at 450 South Fourth Avenue, Third Floor, Brighton, CO.

Rogue Tax Sale Investor

182

(3)

Tax Lien Sale Internet Auction FAQ

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=107&p=914

What is an internet lien auction and how is it different from a tr

aditional auction?

An internet lien

auction is held electronically, over the internet with bids placed on a computer rather than meeting in a

large room with everyone calling out their bids.

How do I get started?

To register visit

www.adamstaxsale.com

and click "Register". The step by step

wizard will guide you through the registration process.

Will I need special equipment and software?

No special equipment or software is needed for the sale.

To participate in

the auction bidders must have access to the internet. For those without internet access

the Treasurer's office will have computers available for use at the Adams County Administration Building,

450 South 4th Avenue, Brighton, Treasurer's Office, third flo

or.

Is training available for the auction software and how do I get it?

site training classes will be held

at predetermined dates and times. Attendance will be by registration only. Please visit

www.

adamstaxsale.com/training

for a list of available dates and locations.

Telephone support will also be available in October by contacting Realauction's toll free custom

er support

center at 877

361

7325.

How much does it cost to enter the auction?

There i

s no cost to participate in the auction. However,

each bidder must place a deposit equal to 10% of the total dollar amount of liens they anticipate winning.

For example: If a bidder anticipates winning $100,000 in tax liens, he/she must deposit $10,000 w

ith the

Adams County Treasurer. Deposits must be submitted on the website (

www.adamstaxsale.com

) by 5:00

PM MST, November 1, 2007.

When the advertising list for the current year's auction becomes available Octo

ber 5, 2007 deposits may

be submitted on the website.

What happens if I ex haust my deposit while I still have active bids?

If your deposit is exhausted

while you have active bids any bids remaining

will not

be placed. Deposits must be authorized on the

bsite (

www.adamstaxsale.com

) no later than 5:00 PM MST, November 1, 2007.

How do I pay for my security deposit and liens purchased?

Security deposits and payments for liens

won can be made using the ACH payment

wizard on the auction website (

www.adamstaxsale.com

What is a batch?

The liens being advertised are sold individually. However, in order to make the bidding

process more manageable, liens are divided into gr

oups called "batches" consisting of

approximately 500

liens each.

Within each batch, contiguous parcels with the same owner may be grouped

together and

sold as a block.

You will still receive individual tax liens for each parcel.

When can I st art bidding?

You may enter your preliminary bids for all batches on October 5, 2007

This

preliminary time prior to the sale is available so you may research properties; select the properties of your

choosing and the amount of p

remium you are willing to pay.

You may m

odify your bids up to the closing

day of the sale, November 9, 2007.

When does the auction start and end?

The auction officially starts on November 3, 2007, 8:00

a.m.

MST. All items in Batch One (1) will end on November 9th, 2006 at 9:00

a.m.

MST. Each su

bsequent

batch will end on the hour until 4:00

p.m.

MST when the auction officially closes. If you are logged on to

your computer on the 9th of November you will immediately know what you have purchased at the end of

each hour and may adjust your bids on a

ny future batches.

Can other participants see my bids?

No.

How does the bidding work?

On the bid screen, each auction participant enters the maximum dollar

amount over the lien face amount that they are willing to pay. This dollar amount is referred to a

"premium".

Bids must be entered in whole dollars (no cents). To enter a bid at face value, you would enter

Rogue Tax Sale Investor

183

a $0 premium amount. At the closing of each batch, the auction software evaluates all bids and the lien is

awarded to the highest bidder provided

he or she has a sufficient amount of deposit with the county at

that time the bid is closed.

What is proxy bidding?

On the bid screen, auction participants enter the maximum premium a

mount

they are willing to pay.

At the close of a batch, when the winner

is determined, the system will

automatically enter bids on your behalf until you are either the highest bidder

the maximum premium

dollar amount that you entered has been reached. If you are the winning bidder, the premium amount that

you owe will be $

1 greater than the next highest bidder (provided there are no ties).

For example: If a lien face amount is $500.00 and Bidder A enters a premium amount of $20 and Bidder

B enters a premium amount of $40, then at the closing of that batch the lien will be

awarded to Bidder B

and the total amount due will be

$521.00 (f

ace amount of $500 plus $21 of premium).

What happens in the case of a tie bid?

In the case of a tie bid the winner will be selected at random by

the auction software. The process used to sele

ct the random winner has been certified by an independent

third party.

When do I have to pay for a successful bid and what happens if I don't pay?

Funds to cover all

winning bids must be authorized on the website by November 12, 2007, 4:00

p.m.

MST. If pa

yment is not

posted by that time, the lien will be awarded to the next highest bidder. If you fail to pay for liens

purchased the county may revoke future biddin

g privileges (§39

116, C.R.S.).

What happens to the leftover depo sit money?

Any deposit mon

ey leftover, not credited toward winning

bids, will be returned to the bidder approximately two weeks after the close of the auction.

How do I contact Customer Service?

Customer Service will be available starting October 5, 2007.

Customer Service Email A

ddress:

customerservice@realauction.com

Website:

www.realauction.com

Physical Location: Realauction, 861 SW 78th Avenue, suite 102, Plantation, Florida 33

324

Phone: 877

361

7325

Realauction Office hours: Monday through Friday 8

a.m.

–

6p.m.

EST

You may also call the Adams County Treasur

er's Office, Ken Sigley, at 303

654

6376.

Our office hours

are weekdays 8:00

a.m.

to 4:30

p.m.

MST

Should I make note

of any important dates?

Summary of Important Dates

Revised 9/6/2007

Website (

www.adamstaxsale.com

) Opens for Registration, Deposits & Bidding: 10/05/2007

Deposits Due By: 11/01/2007

Auction Closes: 11/09/200

Payments for Winning Certificates Due By: 11/12/2007

(4) Tax Lien Sale Prese ntation

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=107&p=673

Click here to

view the tax lien sale presentation:

http://www.co.adams.co.us/documents/page/tax_lien_sale.pps

(5) Tax Sale List

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=296&p=778

Tax Sale list will be published in early October 2008

(6) Mobile Home Tax Lien Sale

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=108&p=265

(6a) Public Notice

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=108&p=265

Rogue Tax Sale Investor

184

(6b) Pa

yment for Tax Liens

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=108&p=261

(6c) Redemption Interest

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=108&p=267

(6d) Sale Procedure

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=1

4&s=108&p=266

CITY AND COUNTY OF D

ENVER

,COLORADO

http://www.denvergov.org

TREASURY DIVISION

http://www.denvergov.org/Treasury/default.asp

(1) T

ax Lien Sale Frequently Asked Questions

http://www.denvergov.org/Treasury/410faq800.asp

When is the Treasurer's annual sale of real estate tax liens for the 2002 tax year?

The Annual Public

Auction of Real Estate Tax Liens will begin on November 5, 2007 at 8:00 a.m. MST and will close on

November 8, 2007 at 5:00 p.m. MST. The auction will be conducted entirely by means of the internet at

www.denve

rtaxsale.com

(2) Tax Lien Sale Information

http://www.denvergov.org/PropertyTaxInformation/TaxLienSaleInformation/tabid/425589/Default.aspx

(2a)

Rules for the Treasure’s Annual Sale of Real

Estate Tax Liens for Tax Year 2006

http://www.denvergov.or

g/PropertyTaxInformation/TaxLienSaleInformation/RulesfortheTreasurersAnnual

Sale/tabid/425591/Default.aspx

Location of Public Auction

The Annual Public Auction will be conducted entirely by means of the internet

www.denvertaxsale.com

Date and Time of Public Auction

Bidding will begin on November 5, 2007 at 8:00 a.m. M.S.T. and will

close on November 8, 2007 at 5:00 p.m. M.S.T

Registration/Deposits

Buyers can register and make deposits beginning Octobe

r 22, 2007 at

www.denvertaxsale.com

Registration and deposits may be made until November 7, 2007 at 5:00 p.m.

M.S.T.

All deposits must be mad

e in electronic funds transfer.

Final determination regarding the

ceptability of any deposit will be at the discretion of t

he Treasurer or his employees.

Buyers are

responsible to ensure the information on their registration is correct since certificates of purchase,

redemption checks and refund checks are p

repared from

this information.

Once registration is completed,

a bidder number will be issued for bidding.

Computer Workstations

Access to computer workstations for bidding will be available in City and County

of Denver, Treasury Division, 144 West Colfax Avenue, McN

ichols Civic Center Building, Denver,

Colorado between October 22, 2007 and November 8, 2007, between the hours of 8:00 a.m.

M.D.T./M.S.T. and 5:00 p.m. M.D.T./

M.S.T., Monday through Friday.

Access will be on a first come first

served basis.

Unpaid Tax L

ist and Public Auction

Publication of the unpaid tax list will be in alphabetical order by

property owner name.

The list will be published in The Denver Post and/or Rocky Mountain

News on

October 5, 12, and 19.

Taxes will be auctioned in parce

l identifica

tion number order.

The list of the unpaid

taxes, in parcel identification number order, will be posted (1) at

www.denvertaxsale.com

beginning

October 22, 2007 and (2) near the entrance of the Treasury Division

for several d

ays before the public

auction.

Each parcel will be offered for the amount of taxes, advertising, penalty interest, and fees and will

be subject to general bidding.

Rogue Tax Sale Investor

185

Bidding

In accordance with §39

115 (2) (c) and (d), C.R.S., minimum bids an

d bid increase

increments are as follows:

Bids will be accepted in the amount of the minimum with the first bid.

The next bid will be increased by one dollar.

The bidding rules as well as instructions on accessing the public auction and submitting bids

will be

posted at

www.denvertaxsale.com

on October 22, 2007.

For bidding purposes, properties will be grouped in batches and sold in 30 minutes increments beginning

at 8:00 a.m. M.S.T. on November 8, 2007, an

d ending at 5:00 p.m. M.S.T. Items in each batch will be

identified with a closing time.

Payment transfers that are rejected for any reason, including the lack of funds, may result in cancellati

of the corresponding bid(s)

and the Treasurer may prohibi

t a person who fails to pay the amount due from

bidding on sales for up to five years under §39

116, C.R.S.

It is the bidder’s responsibil

ity to know what is purchased. All successful bids are final.

No changes in or

cancellation of parcels purchased c

an be made after bidding is closed.

The certificate of purchase issued on a successful bid will show the legal description, purchase amount,

and buyer’s name (as entered on registration form), in

terest rate, and date of sale.

Buyers will be notified

when

their certificates are ready to be picked up. The City and County of Denver will keep them if the

buyer wishes and provide copies.

Redemption interest is 15% per annum. If parcels are redeemed prior to delivery of certificates,

redemption checks will be m

ailed to buyers and notations made on buyers’ lists of purchases.

Employees and officials of the City and County of Denver and members of their families are not allowed

to purchase at the Denver Tax Lien Public Auction.

Please Note!

Delinquent Real Estat

e Tax payments must be received in our office by 4:30 p.m. M.D.T.,

Friday, November 2, 2007

Payments will not be accepted after that tim

e without redemption interest.

Payments will not be permitted during the Annual Public Auction of Real Estate Tax Liens

Any questions regarding the Annual Public Auction should be directed to the Treasury Division, Taxpayer

Service Section, 144 West Colfax Avenue, Denver Colorado 80202, (720) 865

7070.

ROGUE INVESTOR NOTE

: The auction is run by RealAuction.com. See

Priv

ate Sector Tax Sale

Administrators

at the end of the Colorado section.

(2b

) Information on the Sale of Delinquent Real Property Tax Liens

http://www.denvergov.org/PropertyTaxInformation/TaxLienSaleInformation/InformationontheSaleofDelinq

uentTaxes/tabid/425592/Default.aspx

The Tax Lien Sale is usually held arou

nd the first part of November.

Buyers pay the

total advertised price

consisting of tax, interest to the date o

f sale and an advertising fee.

They also pay a $4.00 certif

icate fee

plus any premium bid.

The person paying the highest amount is iss

ued a Certificate of Purchase.

This is

a negotiable docume

nt representing a

recorded lien on the property. It is valid for 15 years.

The buyer

does not recover the premium

paid over the starting amount.

The certificate earns interest at the rate

stated on the certificate with portions of calendar months considere

d as whole months.

A buyer list showing certificate numbers, schedule numbers and total paid wil

l be provided to the

taxpayer.

Buyers are responsible

for keeping adequate records.

The Treasury Division is responsible for

the sale of the tax lien, immedia

te notification to buyers of redemptions and payment upon surrende

r of

the redeemed certificate.

(We will hold your certificate if you wish and provide copies to you.)

The redemption amount paid is the certificate amount (tax, interest, advertising, and

es), plus

redemption interest.

The annual redemption interest rate for each year’s sale is established by adding 9%

Rogue Tax Sale Investor

186

to the September 1st

Federal Reserve discount rate.

One twelfth of this rate accrues for

each month or

portion thereof.

The September 1, 2

007

discount rate was

5.75

The redemption rate for certificates

sol

d in November of 2007

ll be 15

% or 1.

% per month.

Upon redemption, we notify the buyer to

return their certificate for payment of the certificate face value plus accrue

d interest.

we are holding your

certificate, a check will be mailed immediately.

Buyers may after July 1st pay the subsequent year’s unpaid taxes for endors

ement onto their certificates.

These payments earn the same rate of interest as does the original sale.

If t

he property has not been redeemed after three years, the buyer can apply for and receive a

Tre

asurer’s Deed to the property.

Buyers return their certificates to

us and deposit expense money.

After

a title search, advertising, and notification of all intere

sted parties, a Treasurer’s Tax Deed is issued if

there has been no redemption.

Erroneous sales are paid interest at the rate of 2% above the discount rate rounded to the nearest full

percent but no lower than 8%.

The lower redemption interest rate is ap

plicable to discoveries made after

May 23, 1988 and can be applied to the entire certificate regardless of when the certificate was

purchased.

If you wish to participate in our sale, please notify us that you need a copy of the rules showing the dat

the sale and any details.

Information will be mail

ed to you after September 1st.

We furnish a copy of

the list of parcels for sale at the time of the sale.

The subject of Tax Lien Sales, Deeds, Redemptions, etc., which are administered by County Treasure

rs,

is covered by Colorado Revised Statutes,

Title 39, Articles 11, and 12.

Any questions should be referred

to the Taxpayer S

ervice Unit at (720) 865

7070.

(2c

) Tax Lien Sale Announcements

2007 Public Auction of 2006

Taxes

http://www.denvergov.org/PropertyTaxInformation/TaxLienSaleInformation/TaxLienSaleAnnouncements/t

abid/425593/Default.aspx

A lien is what you

are

buying

–

not the property.

You are given a treasurer’s certificate of purchase.

Buyers must have registered and deposited electronic funds trans

fer in order to make purchases.

Make

sure names are spelled c

orrectly on your registration.

Certificates will

show the same information.

Payment transfers that are rejected for any reason, including the lack of funds, may result in cancellation

of the corresponding bid(s) and the treasurer may prohibit a person who fails to pay the amount due from

bidding on sal

es for up to five years under §39

116, C.R.S.

City employees and their family members (son, daughter, mother, father, grandmother, grandfather,

grandchildren, brother, sister, son

law, daughter

law, mother

law, father

law, brother

law,

sister

law, domestic partner, and the mother, father, son, daughter, brother, or sister of the domestic

partner) are not allowed to buy.

The “ts” on the right in the newspaper indicates an un

redeemed sale from a prior year;

“partially paid”

indicates

that either the tax is for the second

half or that there is an additional fee for a service lien or

maintenance district payme

nt which is due on the parcel.

Note that this may be all that is due on the

property.

The interest rate is 15

% on this year’s ce

rtificates.

Subsequent years can be endorsed to these

certificates at the same rate.

Be sure that you know

how to add on subsequent taxes. Do not just pay the taxes.

You must bring or

send in the certificate to be endorsed

to the special accounts unit.

ubsequent taxes may be added in

July annually.

Rogue Tax Sale Investor

187

The earliest you can apply for a deed is Novembe

for the 200

tax year.

The earliest a deed can be

issued is three and half (3.5) years from the N

ovember tax sale date.

The deed fee is $50

0.00.

Unused

deed fees will be refunded.

(2d

) P ayment of Subsequent Years’ Taxes

http://www.denvergov.org/PropertyTaxInforma

tion/TaxLienSaleInformation/PaymentofSubsequentYearsT

axes/tabid/425594/Default.aspx

The Colorado Revised Statutes (39

119)

provide that a holder of a certificate of purchase may pay any

subsequent taxes on the property on which the buyer has an unrede

emed certificate, and that this

payment will be endorsed on the certificate and the tax lien sale book of record in the Treasurer's Office.

The payment is made to protect your certificates and to prevent the property from being sold again

subsequent t

ax lien sales.

Payment is recorded on the certificate and on the tax lien sale book to insure

that you will be reimbursed for this additional payment in the even

t of a redemption.

This fee for the

endorsement of these paym

ents is $5.00 per endorsement.

Thi

s fee will als

o be recovered on

redemptions.

Current general property tax payments can be endorsed on to certificates for special

assessment if you desire. Delinquent Local Improvement installments may be endorsed o

n to general tax

certificates.

Certificat

es must be brought in, left, and processed in the order they are received.

Subsequent payments of delinquent taxes endorsed on certifi

cates purchased in November 2007

interest at the rate of 1.25

er month or fraction thereof (15

% per annum), from

the date of payment.

This interest is computed on a monthly basis to the date of redemption.

In addition to regular taxes, subsequent tax sale certificates may be redeemed and the redemption

amount

endorsed on your certificates.

Tax Sale Certificates fro

m previous sales cannot be redeemed and

endorsed on your certificates unless your certificate is on a Special Assessment for a Local Improvement,

Delinquent Sanitary Sewer lien, Delinquent Storm Drainage lien and the earlier certifi

cate is a General

Certif

icate.

In this case, it is recommended that it be done since a deed on the General Certificate could

make the Certificate for special assessment worthless.

This may be done at any time, but accrues interest from date of payment to date of redemption. Buy

ers

wishing to make subsequent tax payments should bring or send their certificates to the following:

Special Accounts Unit

1st

Floor, 144 West Colfax Avenue

phone:

(720) 865

7000

Treasury will determine the amounts required and will notify buyer

o that payment can be made.

We will

then process the payments and make the necessary entries to the tax lien sale books.

For payment of general taxes, most buyers bring their certificates in duri

ng the last two weeks of July.

rocessing takes several wee

ks. If redemptions are received during this time, we pull the certificate and

mail a check to the tax buyer.

(3) Contact Information

http://www.denvergov.org/Treasury/410contact.asp

Trea

sury Division

McNichols Civic Center Building

144 W. Colfax Avenue

Denver, CO 80202

5391

Phone: (720) 865

7202

General email address for Treasury:

treasinfo@ci.denver.co.us

Property Tax Information

Taxpay

er Service Unit

hone: (720) 865

7070

Rogue Tax Sale Investor

188

DOUGLAS COUNTY, COLORADO

http://www.douglas.co.us

TREASURER’S OFFICE

http://www.douglas.co.us/treasurer

Sharon Jo

nes, Treasurer

Douglas County Treasurer’s Office

100 Third Street

, Suite 120

Castle Rock, CO 80104

Phone: (303) 660

7455

Fax: (303) 660

9022

Email:

dctreasurer@douglas.co.us

(1) Tax Lien Sale Information

http://www.douglas.co.us/treasurer/Tax_Lien_Sale_Information.html

The Tax Lien Sale will be held on Nov. 13, 2008

The Tax Lien Sale Seminar will be held on Oct 23, 2008

Purchasing delinquent tax liens at sale is becoming an increasingly popular form of investment. Here are

some facts to help you understand what a tax lien sale investment is, and what it is

not:

When you purchase a tax lien sale certificate on property,

you become a lien holder on the

property. In essence, you loan funds to the owner to pay taxes.

You purchase the tax lien,

not

the property. In Douglas County, eventual transfer of deed has

occurred in less than 2 percent of all purchases.

Investing in t

ax liens through purchase a

t tax lien sale is just that

–

n investment. The purchase

can be thought of in terms of a potentially long range C.D. Redemption of the certificate is at a

given rate of return, and can occur up until the time a Treasurer's Deed

is issued or until 1

5years

from the date of sale,

whichever comes first.

The State Banking Commission determines the rate of return. The annual interest rate is set at

nine points above the f

ederal discount rate as of September

The Treasurer's Offic

e wishes to make it very clear that all sales are made with a "buyer beware"

warning. While we make every effort to remove property with bankruptcies, FDIC or RTC connections, we

cannot guarantee a property to be buildable or desirable.

(1a) Tax Sale Rule

http://www.douglas.co.us/treasurer/Tax_Sale_Rules.html

Payment of Taxes:

Taxes, including interest and penalties, must be paid by noon (12:00 p.m. MST) on

the day prior to the tax s

ale.

No payments will be accepted on the day of the sale.

If a tax lien has already been sold on the day of the sale, one month's tax lien interest will be charged in

addition to fees and advertising. Payment must be in cash or certified funds.

Once de

linquent taxes have been advertised, they must be paid in certified funds.

Form W

The IRS now requires County Treasurers to report, on form 1099, interest income earned

through tax lien investments. W

9 forms are available

(

http://www.douglas.co.us/treasurer/documents/fw9.pdf

), and should be completed prior to registration. If

9 is not on file with the Treasurer's office, the Treasurer will withhold 30% of interest earned at the

ime the tax lien certificate is redeemed.

Deposits:

no longer require funds on deposit to purchase liens at our Tax Lien Sale. All bids must be

covered by personal checks. Buyers are responsible for ensuring that the information on the registration

orm is legible and correct, and that the name given to the registration clerks is the same as that on the

Rogue Tax Sale Investor

189

registration form since the certificates of purchase are prepared from this information. Each bidder will bid

in the names on the registration forms h

eld by them.

Refunds:

Deposited funds in excess of purchases, if any, will be refunded after all post

sale balancing

completes or within three business days.

Registration:

7:30 a.m. in Conference Rooms A & B, 100 Third Street, Philip S. Miller Executi

ve Building.

For a printable Registration form, please visit

http://www.douglas.co.us/treasurer/documents/Tax_Sale_Registration_Form.pdf

Seating:

Seating will be

on the basis of arrival with no reserved seats. The doors of the sale room (first

floor Hearing Room) will open at 7:30 a.m.

Bidding will begin promptly at 9:00 a.m.

Sale:

A complimentary, updated currently deleted listing will be available in book form

the day of the sale.

This list will be followed in numerical order as closely as possible during the sale. A currently deleted copy

of the newspaper publication will be posted near the entrance to the sale room.

The sale will be conducted as rapidly as

possible consistent with the objectives of the sale and fair play to

all bidders.

As is expected at auctions, premiums are allowed. Rules of other persons and/or counties will not apply in

Douglas County.

A parcel will be subject to open bidding and

the taxes will be sold to that person "who shall further pay the

largest amount in cash in excess of said taxes, penalty, interest and costs." On taxes of $500 or less,

premium bids will be in $5.00 increments. On taxes of $501 and up, premium bids must b

e in increments

of $10 or more.

The auctioning will fairly provide all bidders present and qualified the opportunity to compete in an open

bidding procedure. No parcel will be passed until after further bidding has been refused twice. Parcels not

bid on

during the sale will be struck off to the County at the

conclusion of the Tax Lien Sale

(C.R.S. 39

108[III]).

The sale position number, tax schedule (parcel) number, and total dollar amount of each parcel will be

read only once by the auctioneer. Al

l successful bids are final. No changes in, or cancellations of, parcels

will be made after the parcel has been sold.

Pursuant to Colorado state statutes, all Special and Local Improvement District assessments will be listed

and sold with any applicabl

e ad valorem taxes.

Once a bidder ceases to purchase

–

i.e., closes out their account and pays for their purchases, should

he/she wish to purchase additional tax liens, they must re

their original registration

to reactivate their account.

Insofar as possible, the day will be used entirely to conduct the Tax Lien Sale. There will be a 15

minute

break in the morning and, if necessary, a 45

minute lunch break and 15

minute afternoon break. Should it

be necess

ary, the Tax Lien Sale will be reconvened the following business day.

Anyone desiring to bid on specific parcels other than through the bid process must apply at the

Treasurer's office no later than November 2 and must provide proof of legal interest in

such property.

Disclaimer:

Purchase of a tax lien should be considered, first and foremost, as a loan to the property

owner at the specified annual rate of interest with the property as collateral for that loan. It is not within

the investor’s purvie

w to notify the property owner of the lien or to try to encourage the property owner to

redeem the tax lien.

It is the purchaser's responsibility to determine the status of any property offered at tax lien sale. Any

purchase of a tax lien is done at the p

urchaser's own risk. Particular attention should be given to those

properties in bankruptcy; under the control of the Resolution Trust Corporation (RTC), the Federal

Rogue Tax Sale Investor

190

Deposit Insurance Corporation (FDIC); those affected by the Drug Enforcement Agency (DEA);

and any

properties which may have a special improvement assessment or may be located in a special district

which may be in financial distress. The purchase of a tax lien on these properties could result in a loss of

interest. Any applicable federal laws o

r regulations and/or special concerns regarding any special

assessments take precedence over the rights of a tax lien purchaser.

If you have any questions regarding your rights as a purchaser of a tax lien, you should consult an

attorney.

Every effor

t has been made to determine which properties are in conservatorship or receivership of RTC

or FDIC. Any properties discovered subsequent to sale which are so owned will be considered an

erroneous sale by this office, if prior permission to include in sale

has not been received from RTC or

FDIC.

In the event of an abatement or tax roll correction on any parcel subsequent to its sale, redemption

interest will be based on the reduced statutory rate (C.R.S. 39

111).

Douglas County Department of Planni

ng and Community Development encourages potential purchasers

to research the status of land, as it may or may not be suitable for development due to zoning restrictions,

natural or man

made hazards.

Certificates:

The Certificate to be issued on a success

ful bid will be in the statutory form, showing the

lawful rates of interest (for the life of the certificate), the legal description, purchase amount, and buyer's

name (as entered on the registration form), and the date of the Tax Lien Sale. Certificates w

ill not be

issued in a name other than the name or names on the registration form. The names on the registration

forms cannot exceed

characters total.

The holder of original tax lien certific

ates may, if they wish, endorse

–

e.,

pay taxes for subseq

uent

years,

until the certificate is redeemed. Information on subsequent endorsements will be sent out from the

Douglas County Treasure

r's office in August. Original c

ertificates will be held at the Douglas County

Treasurer's office unless otherwise reques

ted by the purchaser. Original certificates not retained by us

must be returned to the Douglas County Treasurer's office for endorsement or redemption.

Interest:

Interest begins on the date o

f sale in October/November and

June 16th thereafter. The per

num rate of interest for Tax Liens will be set by the State Banking Commissioner on September 1 and

that per annum rate will remain fixed at that rate for the life of the Certificate.

Premiums on bids are not refundable nor do they earn interest.

(1b) T

ax Sale Proceeding

http://www.douglas.co.us/treasurer/Tax_Sale_Proceedings.html

The tax lien sale begins at 9:00 a.m. and continues until all tax liens are offered. The sale is

conducted as

an open auction to the highest bidder.

To facilitate the bidding procedure, each tax lien is initially offered in number sequence, for the amount of

taxes, interest, and fees. The tax lien is sold to the bidder who pays the largest amount. O

n taxes of $500

or less, premium bids will be in increments of $5.00 on taxes of $501 and up, premium bids must be in

increments of $10 or more. Premium bids are bids in excess of the taxes, interest, and fees. All premium

bids made are at the investor's e

xpense and will not earn interest.

Any parcel not bid on during the sale will be held open for purchase in the Treasurer's office until the

following day, after which it will be struck off to the County.

Seating is on the basis of arrival with no reserve

d seats. The doors of the sale room open at 7:30 a.m.

There will be absolutely no transferring of purchases from one name to another after bidding is made. If

you wish to transfer the certificate, assignment can be made after the certificate of purchase i

s received.

Rogue Tax Sale Investor

191

The sale is conducted as rapidly as possible, consistent with the objectives of the sale and fair play to all

bidders.

Prohibited Bidders

: No County official, employee, immediate family member, or person acting as an agent

for same, may parti

cipate in the tax lien sale.

(1c) Money Matters

http://www.douglas.co.us/treasurer/Money_Matters.html

We no longer require funds on deposit to purchase liens at our Tax Lien Sale.

ll bids must be covered by certified funds, or personal checks

at the conclusion of the sale or upon

investor checkout.

A bidding number must be obtained before buyer can begin bidding process.

It is the responsibility of the buyer to monitor purchases

and keep track of available funds.

Upon completion of the Tax Lien Sale or bidder termination, the buyer must proceed to the

Treasurer's Office for check out and payment of purchases.

Failure to pay for purchases and checks returned for insufficient fund

s will result in the loss of the

liens purchased.

In the event of an abatement or tax roll correction on any parcel subsequent to its sale, redemption

interest will be based on the reduced statutory rate. The current interest rate is 8%.

(1d) Pre

Sale In

formation

http://www.douglas.co.us/treasurer/Pre

Sale_Information.html

Persons interested in investing in tax liens to be s

old should send $2.00 (postage and

handling),

along w

ith their name and address in order to be placed on the investors' mailing list. An advertising

list is included in the mailing.

Pre

registration is hi

ghly recommended

–

will save both the Treasurer's staff and the buyer time on

the morning of the sale

. In order to pre

registration form

and send it to this office prior to the sale. Click here for a printable Pre

registration form

(

http://www.douglas.co.us/treasurer/documents/Tax_Sale_Registration.pdf

)

or one can be obtained

from the Treasurer's office upon request.

The I

S. now requires all County Treasurers to report income earned through tax lien investments.

Theref

ore, W

9 forms

(

http://www.douglas.co.us/treasurer/documents/fw9.pdf

)

will be available at the

tax sale and should be completed fully before investors bid.

Anyone wanting to bid on spec

ific parcels other than through the bid process must apply at the

Treasurer's office at least one day prior to the tax sale and must provide proof of legal interest in such

property.

Property tax liens to be sold at sale are generally advertised in Octobe

Property tax liens are advertised once a week for three consecutive weeks and will be sold in tax

schedule number order.

Advertisement is made in a general circulation newspaper in Douglas County.

Updated advertising lists, which record all property

taxes paid prior to sale, are available for

inspection at the office front counter.

(1e) After the Sale

http://www.douglas.co.us/treasurer/After_The_Sale.html

Subsequent Years' Taxi

After June 15 of each year, all tax lien sale certificate holders have first option to pay any subsequent

years' taxes which remain unpaid on properties for which they hold liens. These tax liens are endorsed on

the original certificate at the same gua

ranteed rate of return. Information is mailed to the investor around

the first week of August for subsequent payments.

A Treasurer's

deed (

http://www.douglas.co.us/treas

urer/documents/Treasurers_Deed_App.pdf

)

may be

issued three years from the original date of sale on a Certificate of Purchase. Certificate holder must:

Rogue Tax Sale Investor

192

Surrender original certificate

Complete treasurer's deed application form

Remit appropriate deed fee

Deed application involvement:

Property owner of record is notified of deed application and given two weeks to redeem before

deed procedures start.

At this point, if the certificate has not been redeemed, the certificate holder will be notified that

$500 deposit is required to continue deed application. No interest is earned on the deposit.

Remittance of $500 deposit covers:

advertising fees

certified mail fees

title search fee

miscellaneous legal fees

Current year assessed taxes and any subse

quent tax liens should be paid prior to issuance of

deed, however, it is recommended that at least the current year assessed taxes be paid. If

redemption is made before deed issuance, all redemption money and deposits will be returned to

the investor.

) Investor’s Guide to the Annual Tax Sale

http://www.douglas.co.us/treasurer/Investors_Guide.html

Location: 100 Third Street, Philip s. Miller Building, Commissioners Hearing Room, C

astle Rock, CO

Tax Lien Registration:

If you are pre

registered, proceed directly to a check

in station in the Treasurer's

Office. If you are not pre

registered, go to Conference Rooms A & B to fill out t

he registration

(

http://www.douglas.co.us/treasurer/documents/Tax_Sale_Registration.pdf

) and W

9 form

(

http://www.douglas.co.us/treasurer/documents/fw

9.pdf

Once completed, take the forms to the

registration desk.

When you have completed registration, and received your parcel listing booklet and bidder's number card,

you may proceed to the Commissioner's Hearing Room at any time prior to 9:00 a.m.

Remember

: Your

bidder number card is your i.d. as a registered buyer.

Refreshments will be available in Conference Rooms A & B, as well as an updated property listing. The

conference room and the Treasurer's office will have public access to computers to

research prospective

tax lien sale properties.

Tax Lien Auction:

Sale begins at 9:00 a.m. Purchases include all taxes, advertising, penalty, and any

premiums bid.

It is the responsibility of the buyer to monitor purchases and track available funds.

Inabil

ity

to pay for purchase will result in loss of bidder status and liens purchased. Liens not paid for will be re

offered to eligible bidders.

Check

Out at Treasurer’s Office, Where You Registered:

All registered buyers must return bidder

number card to a c

heck

out clerk. Present your bidder number to check

out clerk. You will receive a print

out of your purchases and account balance. Please review carefully, and make paymen

t for said

purchases.

(2) Additional Resources

http://www.douglas.co.us/treasurer/Tax_Lien_Sale_Information.html

(2a) Treasurer’s Deed Application:

http://www.douglas.co.u

s/treasurer/documents/Treasurers_Deed_App.pdf

Instructions and forms to apply for a Treasurer’s Deed.

Rogue Tax Sale Investor

193

(2b) County Held Lien List

http://www.douglas.co.us/treasur

er/documents/CountyHeldLiensList1_08.pdf

List of current tax liens not sold at the tax lien sale and struck off to the county

. Updated January 2008.

ROGUE INVESTOR NOTE

: The

county

held lien

list

is available on

the data

CD that accompanies this

book (

within the file folder “Tax Sale Lists”).

(2c) County H eld Assignment Application

http://www.douglas.co.us/treasurer/documents/County_Held_Assign_Request.pdf

rm to apply for assignment of a county held lien

(2d) Tax Sale Registration Form

http://www.douglas.co.us/treasurer/documents/Tax_Sale_Registration_Form.pdf

(2e) W

9Form

http://www.douglas.co.us/treasurer/documents/fw9.pdf

Printable W

9 form

(2f) Tax Sale Seminar Presentation

http://www.douglas.co.us/treasurer/documents/Tax_Sale_Presentation_2007.swf

Tax Lien Sale Seminar

informational presentation

EL PASO COUNTY, COLO

RADO

http://www.elpasoco.com

TREASURER’S OFFICE

http://trs.elpasoco.com/default.asp

Real property and manufactured home unpaid taxes are enforced through the annual tax lien sale with

the Treasurer bec

oming the agent through

whom

the lien is paid.

Sandra Damron, Treasurer

27 E. Vermijo Avenue

Colorado Springs, CO 80903

Phone: (719) 520

6666

Email:

trsweb@elpasoco.com

(1) Tax Lien Sale Procedures

http://trs.elpasoco.com/NR/exeres/EBE390F2

ED28

4177

AAED

E239D648CDB9

Real property and mobile home delinquent taxes are enforced through the annual tax lien sale.

lease

note

dates are subject

to change.

Date, Time, Location:

The sale of El Paso County's unpaid taxes and special assessment liens was held

on October 30, 2007 and October 31, 2007

Our next tax lien sale will be held on October 28, 2008 and

October 29, 2008

(Dates subject to change.) The sale will be conducted at the following location:

El Paso County Office Building

27 East Vermijo Avenue

3rd Floor

Colorado Springs, CO 80903

Rogue Tax Sale Investor

194

Deposits:

All bids must be covered by cash or certified funds made payable to

he El Paso County

Treasurer.

Electronic fund transfers (wires) will be accepted if the money is received in our office two

business days before the tax sale.

Early deposits are encouraged.

Buyer deposits may be mailed to, or

made in the Office of the Count

y Treasurer, 27 East Vermijo Avenue, First Floor, Colorado Springs,

Colorado

80903.

Buyers must indicate in writing whether they

Do Not

desire to participate in the

automatic rotation selling at the time their deposit is made. See "Required Forms" in

the "Buyer

Information

" section.

Buyers do not need to be present to participate in the automatic ro

tation selling.

See

"Buyer Information" for additional procedures.

Except as stated above for electronic fund transfers, deposits must be received prior

to 11 a.m. on

October 28, 2008 for inclusion in the automatic rotation selling which will begin promptly at 1 p.m.

Once

the automatic rotation selling begins no deposits will be allowed un

til that process is completed.

During

the automatic rotation sellin

g once a buyer's deposit amount is expended, that bidder number will no

longer be considered. If the amount of the lien exceeds the available balance, the bidder number will be

skipped.

Deposits for open bidding will again be accepted after the conclusion

of the automatic rotation

selling the afternoon of October 28, 2008 and at 8:30 a.m. on October 29, 2008.

Deposits must be made in the name which will appear on the t

ax lien certificate.

Transfers of deposits or

purchases from one account to another will

not be permitted during or immediately following the sale.

In the open bidding categories it is the buyers' responsibility to monitor their purchases to avoid

overspending. All remaining unexpended funds will be refunded as quickly as possible after the

close of

the sale.

Seating:

Seating for the open bidding portion of the tax sale is limited and reserved for registered buyers.

We ask that observers move to the back of the room or outer corridor. Children younger than 16 years old

are discouraged from

attending. Buyers only need to be registered and have made their deposit to

participate in the automatic rotation selling.

Buyer

Information

Only one bidder card will be issued per buyer. Each buyer must be registered and

have funds on deposit to part

icipate in the sale. Each buyer participating in the open bidding categories

must pick up his/her own bidder card on tax sale day. The Treasurer reserves the right to limit buyer

numbers issued to any individual or agent. Each buyer is required to complete

an Internal Revenue

Service form W

9 with name, address, and social security number or federal tax identification number,

buyer registration and automatic rotation selling author

ization form. See forms below.

Bidder numbers for

new buyers will be assigned

only after the completed forms are submitted with a deposit. Bidder cards

are issued on the day of the open bidding sale. If the buyer does not desire to participate in the automatic

rotation selling, written notice must be given at the time deposit is ma

de.

Required forms

IRS Form W

http://trs.elpasoco.com/NR/rdonlyres/D9D4B865

8B68

46BE

87C4

963DA753D152/0/w9.PDF

Buyer Regi

stration Form:

http://trs.elpasoco.com/NR/rdonlyres/02649421

8F81

48A9

912E

36305B206038/0/BuyerRegistrationForm.pdf

Automatic Rotation Selling Authorization Form

http://trs.elpasoco.com/NR/rdonlyres/03F154E5

DF51

431C

B5CE

10F5A6097BBD/0/ARS_auth_dep_allocation.pdf

Buyers who have purchased ta

x liens at prior sales

do not need to register again.

Any changes to existing

buyer information must be provided annually. Buyers are responsible to assure that the information on

their registration is correct and current. Tax lien sale certificates, refun

d checks, redemption checks, and

1099 interest forms are prepared from this information. Before leaving the sale all bidder cards must be

returned to the Treasurers Office.

Disclaimer

It is the buyers' responsibility to know the quality of the property o

n which they are paying the

taxes and receiving a lien. Buyers must rely entirely on their own information, judgment, and inspection of

the property records.

Rogue Tax Sale Investor

195

Sale Procedures:

Each parcel will be offered in compliance with Title 39, Article 11, of the Colo

rado

Revised Statutes. To facilitate the sale procedure, parcels which are contiguous or contained within one

subdivision may be combined and sold as a group.

The base (minimum) amount for each tax lien is comprised of the unpaid ad valorem tax, special

assessments, late payment interest, collection fees, advertising cost, and other fees.

The tax liens will be separated into categories to facilit

ate the sale.

The sale will officially commence on

October 28, 2008 and conclude on October 29, 2008.

All s

ales are final.

Automatic Rotation Selling, October 28, 2008 at 1 p.m.

Category Two

will contain the liens for a single property or multiple properties where the total amount

of the lien is greater than $100.00 and less than or equal to $2,000.00.

yers do not need to be present to participate in the autom

atic rotation selling.

Buyers must be

registered and have sufficient funds on deposit by 11 a.m. on October 28, 2008

, to be considered.

buyers do not want to participate in the automatic rotation

selling, they must so state in writing at

the

time their deposit is made.

Once the sale starts, no deposits will be allowed until after the compl

etion

of the rotation selling.

3:00

p.m., reports which list the liens sold to

each buyer will be available

Buyers who do not pick up their reports on that day will receive the reports when they pick up their

bidder cards on October 29, 2008

Any reports not picked up by October 29, 2008 at the conclusion

of the sale will be mailed out.

Open Bidding, October

29, 2008 at 9 a.m.

Category One

will contain the liens where the total amount of the lien is less than or equal to $100.00.

Category Three

will contain the liens for a single property or multiple properties where the total lien is

greater than $2,000.00

Category Four

will contain the liens for properties with alert information. The alert information is a

good faith effort to share known information with prospective tax lien sale buyers. It is not all inclusive.

The Treasurer and the County are unable t

o warrant the alert information or lack of alert information.

The tax lien sale buyer participates at his or her own risk.

Make sure you kn

ow what you are bidding on.

All sales are final.

These liens will be offered for general (open) bidding and will

be sold to the buyer who pays the largest

bonus (premium) bid in excess of the minimum amount.

The sale process is subject to change depending on the number of tax liens available.

For all open bidding the sequence index number and the base (minimal) am

ount of each parcel or unit will

be read only once. All successful bids are final (assuming the buyer has sufficient monies on deposit). No

changes in, or cancellation of, parcels purchased can be made after the lien is sold.

The sale will be conducted a

s rapidly as possible, consistent with the objectives of the sale and in

fairness to all buyers. We may recess for lunch at around noon or choose to continue until the sale is

concluded.

Any announcement of adjournment or reconvening will be made at the s

ale.

Rules for General (Open) Bidding:

Tax liens will be sold to the person who shall pay in addition to the

lien amount a bonus (premium) bid. Bonus (premium) bids are not returned or recovered when a tax lien

is redeemed (cured).

Bonus Bids

Minimum b

ids and bid increase increments are as follows:

Rogue Tax Sale Investor

196

Categories 1 and 4 will not be less than $1.00 and after reaching $5.00 will be increased by

increments of $5.00 to $20.00. After reaching a bonus bid of $20.00, the amount will be increased

by increments o

f $20.00.

Category 3 will start at $20.00 and increase in increments of $20.00.

Record of Purchase:

A tax lien sale certificate of purchase will be issued for each property and will be in

the statutory form stating the property description, purchase a

mount, rate of interest, buyer name as

shown on the regis

tration, and the date of sale.

Certificates are assignable; however, no assignments will

be permitted until 10 business days after the sale. If delinquent taxes occur in the future, the certificate

older may endorse the amount of delinquent taxes and lawful charges onto his/her certificate until

redemption.

Redemption Interest:

Interest begins to accrue from the month the certificate is issued. The interest

earned is calculated based on the intere

st rate and the number of months up to and including the month

of redemption. There is no compounding. The interest rate for tax lien sale certificates of purchase in

2008 will be determined in September 2008.

Prohibited Buyers:

El Paso County officials

or employees or their immediate family or agents may not

participate in the purchase of liens.

General Information:

It must be understood that the sale and purchase of the tax or special assessment

lien at a tax lien sale does not, as it might under s

imple sales and purchase agreements, convey the right

of possession, use, improvement, or access to the property. The buyer is issued a tax lien sale certificate

of purchase on which he/she is entitled to interest. The lien may be redeemed by the property

owner, any

person having a legal or equitable claim or by the agent of either party at any time prior to the issuance of

a Treasurer's tax deed. A Treasurer's tax deed cannot be issued prior to the third anniversary of the tax

lien.

The certificate holde

r has the right to pay (endorse) subsequent year's taxes and lawful charges once

they become officially delinquent. If a certificate holder chooses to endorse, the amount will be added to

the existing tax lien. Endorsement information will be mailed to all

eligible certificate holders in early July.

If the lien remains unredeemed (not cured) and becomes eligible for a tax deed, the certificate holder

must make application to the Treasurer in order to initi

ate the process. The procedural

requirements

norma

lly take nine to twelve months to accomplish. An extension of the time period may occur when there

are complex problems related to the property. Deed applications may be made four calendar months prior

to the third anniversary date of the certificate. When

application is made, monies must be deposited to

pay all related deed expenses. The deed application processing costs are recoverable if the property is

redeemed; however, no redemption interest is earned on deed expenses. Prior to receiving a Treasurer's

tax deed, all subsequent taxes, special assessment liens, and current taxes must be paid. El Paso

County makes no guarantee for the condition or marketability of any property which is acquired through a

Treasurer's tax deed.

Wrongfully Sold L

ien:

If a l

ien is wrongfully sold and the County must pay the certificate holder the

redemption interest, the rate will be calculated as set forth in Section 39

111, Colorado Revised

Statutes.

Publicati on Information:

Publication information will be announced a

t a later date.

The link to the list of unpaid 2007 taxes for the 2008 tax sale will be available beginning October, 2008 on

our web site:

The list will be updated periodically for accounts that are paid.

Rogue Tax Sale Investor

197

Contact Information:

Inquiries may be dir

ected to:

El Paso County Treasurer

P.O. Box 2007

Colorado Springs, CO 80901

2007

Telephone

(719) 520

6666

mail:

trsweb@elpasoco.com

Web Site:

http://trs.elpasoco.

com

(2) County Held Tax Liens

http://trs.elpasoco.com/NR/exeres/38AAE623

0C0F

4EFD

9424

E9924FBED363,frameless.htm

The El Paso County held tax lien

list consists of tax liens not purchased by investors at the public auction.

These liens are available for assignment by submitting a written request to the El Paso County

Treasurer's office. You are advised to research, and if possible, accomplish a site

inspection of any

parcel(s) prior to submitting an assignment request. It is your responsibility to determine if the property

you are requesting the tax lien assignment on is worth your investment.

Parcel numbers beginning with 99000 or 99001 are for seve

red mineral interests.

Public record property information and parcel maps are available on the Assessor's website at

http://land.elpasoco.com

If you have additional questions, you may contact our office at (719)

520

6670.

List of County Held Tax Liens:

http://trs.elpasoco.com/NR/rdonlyres/9C097F6C

055F

47A1

A597

2D1C7DCC6AFD/0/COUNTYHELDTAXLIENS.TXT

ROGUE INVESTOR NOTE

: The list of county held tax liens

is available on

the data CD that accompanies

this

book (within the file folder “Tax Sale Lists”)

) Frequently Asked Questions: Real Property Tax Lien Sale Information

http://trs.elpasoco.com/faqlien.asp

How often are tax lien sales held?

The auction for real property tax liens is held once a year.

How many property tax liens

did you list for sale?

(2006 taxes payable in 2007

)3,

802

w many parcels are taxed in your county?

(2006 taxes payable in 2007

)

214,614

How many of the tax liens l isted were paid prior to your sale?

576

How many liens were sold?

2,023

How many buyers participated in your sale?

409

How many liens remai

ned held by the County?

137 (121

real estate parcels and

mineral rights)

What was the total amount of liens sold?

$3,107,231.83

What was the interest rate for liens purchased in 2004?

When will your next tax lien sale be held?

Automatic R

otation Selling: 10/28/08; Open Bidding:

10/29/08 (Dates subject to change)

When and where are tax lien sales advertised?

To be determined.

May I send a representative to the sale to bid for me?

Yes. However, only one bidder card per person

present is a

llowed.

Rogue Tax Sale Investor

198

How and when do I register for the tax lien sale?

You may pre

and up to the date of the sale. You may also register the morning of the sale. In order to register you must

complete a W

9 (Internal Revenue Serv

ice

;

http://www.irs.gov/pub/irs

pdf/fw9.pdf

) a Buyer Registration

Form

(

http://trs

.elpasoco.com/NR/rdonlyres/02649421

8F81

48A9

912E

36305B206038/0/BuyerRegistrationForm.pdf

)

, and Automatic Rotation Selling Authorization and

Allocation of Tax Sale Deposit Form

(

http://trs.elpasoco.com/NR/rdonlyres/03F154E5

DF51

431C

B5CE

10F5A6097BBD/0/ARS_auth_dep_allocation.pdf

)

and remit your deposit. Only one bidder number per

SSN or TIN will be assigned. Buyer numbers will not be

assigned until a deposit is made.

What type of payme nt is required to partici pate in the sale?

All bids must be covered in advance by

cash or certified checks made payable to

The El Paso County Treasurer.

Electronic Fund Transfers

(wires) will be accept

ed if the money is received in our office two business days before the sale.

If the pr operty tax lien is not redeemed (cured) wi thin the three year minimum redemption period,

what do I do?

You may make application four months prior to the third annivers

ary date of the certificate

for a tax deed. The present processing cost is estimated at three hundred fifty dollars and the processing

time window is nine to twelve months.

What do I receive from a tax deed?

The issuance of a valid tax deed creates new

title to the property.

The recipient should establish his/her interest in the property through a suit to quiet title.

Can a tax deed be challenged?

Yes, an owner or party of interest may bring an action within five years

of the date of issuance to set

aside a tax deed. If a person is under legal disability at the time of execution

and delivery of a tax deed, such person has the right to make redemption of the property within nine

years from the date of the recording.

What governs tax sales in your c

ounty?

Colorado Revised Statutes, Title 39, Section 10, 11, and 12.

ROGUE INVESTOR NOTE:

See web page for

additional

questions and answers.

) Redemption Statistics

http://trs.elpasoco.com/redmstats

.asp

Redemption statistics for sale dates

November 19

, 199

7 through October 30

31, 2007.

JEFFERSON COUNTY, COLORADO

http://co.jefferson.co.us

TREASURER’S OFFICE

http://www.co.jefferson.co.us/treasurer/index.htm

Faye Griffin

100 Jefferson County Parkway

Golden, CO 80419

Phone: (303) 271

8330

Email:

ckirby@jeffco.us

(

) Frequently Asked Questions

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R24.htm

Do I lose my pr operty if it goes through the tax sale?

No, you still have an additional three years

before the tax l

ien sale buyer can apply for a deed to the property. However, the interest rate determined

for that year will accrue to the date of payment. After three years from the date of sale, if the tax sale

buyer applies for the deed to the property, the owner is n

otified and given a last chance to pay the taxes.

Rogue Tax Sale Investor

199

) Important Dates

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R18.htm

July 15:

If a lien has been sold for un

paid prior year tax, the tax buyer will be allowed to pay current tax

thus adding to that lien certificate. To avoid this, your payment must be received by this date. This is

called the endorsement process.

September:

Real and personal property taxes that

remain unpaid will be listed in a newspaper

publication four weeks prior to the tax lien sale and advertised for three consecutive weeks. The first

publication is printed mid September.

October:

The annual tax lien sale is held in October.

) Tax Lien

Sale

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R9.htm

Internet Tax Sale, October

29, 2007

The sale will be held at

www.sri

auctionsonline.com

Auction Format:

The tax lien sale will be held as an Internet auction administered by SRI Incorporated.

Tax liens available for bid will be listed on the SRI web site

www.sri

uctionsonline.com

beginning

October 25, 2007 at 9 a.m.

Bidding will close hourly in batches of appr

oximately 200 liens per batch.

ch page is considered a batch.

The first batch (page one) will close at 8 a.m. Mountain Time on

October 29, 2007 and contin

uing closing each hour until 8 p.m.

The bidding rules will be posted at least

two weeks before the be

ginning of the actual auction.

Two computers will be available for us

einthe

Treasurer main lobby.

Questions regarding the operation of the auction should

be addressed to SRI at 1

800

9588.

Registration:

All Bidders must register with both the Jefferson County Treasurer’s Office and the auction

provider SRI in order to par

ticipate in the Tax Lien Sale.

Once a bidder has registered with both parties,

e Jefferson County Treasure’s Office will inform SRI that the bidder is approved to start bidding;

this can

take up to 24 hours.

Registration will take place from October 15, 2007 through October 23, 2007.

Registration closes at 5 p.m. Mountain

Time on Oct

ober 23.

No registration will be allowed after October

23, 5

:00

p.m. Mountain Time.

Registration with Jefferson County involves a two step process. First, one must fully complete the

Registration P

rocess on our secure Web site.

This is the only way to reg

ister with Jefferson County

Hard

copies mailed or faxed to the county will not be accepted as registration.

Fill out the registration form on line, fill out the W

9 form and print it.

Next, you must either mail or fax in the completed W

9 (name, add

ress, social security or employee ID

number, sign and date it) form along with your voided check (deposit slips are not accepted) for the

account to be charged for all winning bids to:

Jefferson County Treasurer

100 Jefferson County

Parkway

Golden, CO 80

419

303

271

8359 (fax)

Bidders are responsible for seeing that the information supplied on all registration forms is legible and

correct and that the name supplied on these forms is the same since the Certificates of Purchase are

prepared from this inform

ation. Each Bidder will bid an

d purchase in the name listed.

Bidders must

Information for registration with SRI can be found on its Web site

www.sri

auctionsonline.com

At this

page, scroll to the bottom and click on the dates for the Jefferson County

tax sale.

This link will direct you

to a page where you must first become a SRI member if you have not

partici

pated

in pri

or tax lien sales.

you are a member from previous years, you may reuse your member Id and must register for the event

only.

Rogue Tax Sale Investor

200

To become a SRI memb

er, you must create a member Id,

a name which will be shown as your buyer

name during the tax sale. After ent

ering a member ID and all other requested information and completing

the registration, you will receive a password for

event registration via email.

Once you have this

password, you must register for the tax sale event, again enterin

g your member ID and pa

ssword.

For

any questions regarding this site, please contact SRI staff directly at 1

800

9588.

No one will be allowed to bid until all the registration requirements have been completed and verified.

Payment for all winning bids will be made by autom

atic withdrawal from the bidder's U.S. checking

account to Jefferson County at the conclusion of the auction. This is the only form of payment accepted.

Payment transfers that are rejected due to lack of funds or other reasons may result in cancellation of

the

corresponding bid(s) subject to CRS 39

116.

Starting with the 2007 tax lien sale, all tax lien certificates will be kept

in safekeeping at our office.

With

the certificates retained at the Treasurer's office, you will receive your payment

faster a

fter the lien is paid.

This will allow you to endorse the certificates without having to find them a

nd mail them in to the office.

the end of the sale, you will be emailed a list of the tax lien certificates you have purchased.

Sale:

Liens will be offe

red in three sections: improved property, vacant land and unbuildable strips.

The sequence will be in schedule number order per the t

hree sections mentioned above.

Property owners

will be able to pay their taxes and avoid having them go to the sale throug

h October 24, 2007

After this

date, all properties will be sold.

The tax schedule number and total tax lien dollar amount of each lien will be

displayed on the auction

site.

All successful bids are final. Once a bidder

has placed a bid amount, it cannot

be lowered or

cancelled.

No changes in, or cancellation of a purchased lien will be made after a bid has been made on

a lien or the item has closed.

Overview:

Delinquent real property taxes go to tax lien sale in the fall of each year. At the tax lien sa

le,

investors pay the delinquent amount due on a property, which grants the investor a lien on the property.

The property owner has three years to redeem the tax lien before the investor is eligible to apply for a

Treasurer's Deed on the property. In add

ition to the amount of the delinquent taxes, the property owner

pays an interest charge which is credited to the tax lien investor.

The tax lien sale enables the Treasurer's office to collect virtually all tax dollars for each government

entity in a timel

y fashion. Tax liens can also be an excellent addition to an investor's portfolio.

Descripti on:

The tax lien sale is the final step in the Treasurer's efforts to collect taxes on real property.

A tax lien is placed on each property in the county on Januar

y 1 each year and remains unt

il the property

taxes are paid.

If the property owner does not pay the taxes on their property by late October, the county

sells the tax lien at the yearly tax lien sale. The tax lien is auctioned to the highest bidder, who the

becomes the tax lien certificate holder.

The tax lien sale allows the taxing authorities to receive their budgeted revenue without having to wait for

the delinquent taxes to be collected. It also offers an investment opportunity to the general public, w

may purchase tax lien certificates and earn a potentially attractive interest rate.

Colorado Statutes set the interest rate at nine percent above the federal discount rate to member banks

on September 1 of each year. Tax certificates sold at the 2006 s

ale bear an interest rate of 15 percent

annually. The initial interest rate holds for the life of the tax lien certificate.

Often, the successful bidder must pay a premium price above the amount of the delinquent taxes in order

to purchase the tax lien ce

rtificate. The premium is not paid back.

Interest is earned on the face amount of the certificate, which does not include any bidding premium paid,

from the date of the sale to the date that the property owner redeems the certificate by paying the

delinqu

ent taxes, interest and costs.

Rogue Tax Sale Investor

201

The property owner may redeem the property from the tax lien certificate holder at any time, from the day

of the sale right up to the day that a tax deed would be issued.

If the property owner does not redeem the property

(pay the delinquent taxes), the tax lien certificate

holder can pay the required costs and fees and apply for a Treasurer's Deed after three years.

Per Colorado State Statute 39

151, county officials and employees may not acquire land by tax sale.

nformation about the tax lien sale is presented at the Pre

Sale Seminar held each fall (select the "tax lien

seminar" button in the tax lien sale drop box).

ROGUE INVESTOR NOTE

: See web page for tax sale statistics.

) Tax Lien Seminar

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R10.htm

Faye Griffin, Jefferson County Treasurer, will hold a Tax Lien Sale Seminar at 7:00 p.m.

on Thursday,

October

4, 2007 in Hearing

Room One of the Jefferson County Administration & Courts Building. Th

seminar is designed for first

time tax lien buyers interested in learning about the potential of this type of

investment.

The Administration & Courts Building is located at 100 Jeffers

on County Parkway in Golden, Colorado

(

http://www.co.jefferson.co.us/maps.htm

). Reservations are not

required. Seating is on a first

come basis

and the doors will open at 6:30 p.m.

The Powerpoint pre

sentation from the 2007

seminar are available below.

Please be patient downloading

the presentation, as this may take several minutes due to the large file size.

Download Jeffco's Tax Lien Sale Powerpoint presentation

http://www.co.jefferson.co.us/jeffco/treasurer_uploads/2007_tax_lien_sale.ppt

For further information, contact Charlene Kirby at 303

271

8336, or email Charlene at

ckirby@jeffco.us

) View Maps of Tax Lien Properties

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R11.htm

) County Held Certificates

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R13.htm

The Creation of County Held Certificates:

While almost all of the tax liens are purchased by investors,

there are some that are

"struck off" (or sold) to the County during each sale. These "county held"

certificates tend to be on unbuildable strips or parcels of land of minimal value. These liens are available

to anyone, other than county employees or their families, who may wish t

o purchase them.

Researching County Held Certificates:

Purchasing tax lien certificates is a "buyer beware" proposition.

We strongly advise that you conduct due diligence in researching a certificate before having it assigned to

you. Care should be taken

when evaluating these liens. The two

acre lot in Evergreen that looks like a

bargain may turn out to be a parcel three feet wide and five miles long running along the side of a road,

for example.

The Treasurer's Office maintains a book with copies of all

the tax lien certificates held by Jefferson

County. You may examine this book at the Treasurer's Office during regular business hours. You may

also download a list of the schedule numbers and certificate amounts, as described in the "download list"

section

below. You will need to research legal descriptions using maps and records available through the

Assessor's Office. You may also want to go to the property and see it for yourself before making a

decision.

Purchasing County H eld Certificates:

In order to

purchase a county held certificate, you must pay the

county the value of the certificate plus a $4.00 assignment fee. You will be required to sign an affidavit

Rogue Tax Sale Investor

202

verifying you understand that merely holding a tax lien certificate does not give you any legal

rights to the

encumbered property. You will also need to provide the exact name you wish to appear on the certificate,

your social security number and correct mailing information. The Treasurer's Office will then submit a

resolution to the County commissi

oners requesting approval of the assignment (or purchase). Upon

approval, you may either have the Treasurer's Office hold the certificate in safekeeping, or send it to you

via certified mail.

A file listing these certificates can be viewed online by click

ing here

http://www.co.jefferson.co.us/jeffco/treasurer_uploads/county_held_liens1107.txt

. The file will

be updated

from time to time;

it does not change ver

y often. Headings that describe the information are contained at

the front of the file.

Treasurer's Deeds:

Certificates are eligible for a Treasurer's Deed application after the lien has

remained unpaid for three years from the date of the original sale.

There is a $

400

.00 deed application

fee and the process takes approximately 6 months.

Download List:

As of November 23, 2004, there were 688 county held certificates. The current list can

viewed in the Treasurer's Office during regular business hours, and

a file listing these certificates can be

downloaded.

ROGUE INVESTOR NOTE

The list

of county

held certificates

is available on

the data CD that

accomp

anies this book (within the file folder “Tax Sale Lists”).

) Tax Lien Sale Registration

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R14.htm

Privacy Notice, and link to Jefferson County registration web page.

(

) List of Properties

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R15.htm

The file available below provides a list of the delinquent properties for the 2006 Tax Lien Sale. Many of

the tax bills for the listed properties

will be paid before the Tax Lien Sale and will not be offered for bids at

the sale. Updates to the list will be provided from time to time and will be available on the Delinquent

Properties Update List

(

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R32.htm

)

The list is current as of September 7, 2007 and contains 3,313 liens.

ROGUE INVESTOR NOTE

See web page for additional information.

The list

is available on

the d

aCD

that accompanies this book (within the file folder “Tax Sale Lists”).

(

a) Delinquent P roperties Update List

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R32.htm

The Delinquent Properties Update List provides a list of those properties for which the taxes are paid, and

the lien removed, between the time that the Delinquent Properties List is published and the tax lien sale

takes place.

The current file contai

ns 740

payments and is current as of 10/15/2007.

ROGUE INVESTOR NOTE

See web page for additional information.

The update list

is available on

the

dat

a CD that accompanies this book (within the file folder “Tax Sale Lists”).

Rogue Tax Sale Investor

203

) Tax Sale Procedures

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R16.htm

Pre

Sale Information

Advertisement of Sale

The list of tax liens available to purchase is advertised in a local newsp

aper for

three conse

cutive weeks prior to the sale.

The list is also available on the Treasurer's web site in a format

that can be downloaded into a spreadsh

eet for analysis.

A "condensed list" is posted on the internet site

the beginning of the tax sal

This is the advertised list minus the tax liens that have been paid after the

list was published.

What You Will be P

urchasing

: You are purchasing only the tax lien on the property. This does not give

you ownership or legal rights to the property in any

way. All buyers are encouraged to research all

relevant state statutes relating to tax liens in article 11 of title 39, Colorado Revised Statutes and

else

where.

Most people participate in the tax lien sale because the interest rates are much better than

hose offered for savings accou

nts or Certificate of Deposit.

Jefferson County has never deeded a house

or building of substantial value for unpaid taxes. Individuals wishing to obtain property may wish to

contact the Public Trustee regarding foreclosure sa

les.

Registration

: Click here for inf

ormation regarding registration:

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R14.htm

Rate of Return

: The interest rate offered

at each year's tax sale is nine points above the Federal discount

rate set on September 1st per Color

ado State Statue 39

103(3).

The interest rate you receive on your

certificate will remain the same for as lon

g as you hold that certificate.

The rate of

return for the 2006

certificates sold in 2007 is 15%.

The Sale

The tax lien sale auction will held on the internet be October 25

29,

2007

Internet Sale Information

To be held as an on

line public auction through

https://www.sri

auctionsonline.com

Beginning October 25, 2007 at 9:00 a.m., tax liens will be available for bid on SRI’s web site

https://www.sri

auctionsonline.com

. Bidding will close

hourly in batches of appr

oximately 200 liens per

batch.

The first batch will close at 8:00 a.m. Mountain Daylight Savings Time on October 29, 2007 and

continues closing each hour until 8:00 p.m.

Questions regarding the operation of the auction should be

addressed to SRI at 1

800

9588.

Parcels will be offered in three sections:

improved property, vacant land, and unbuildable strips.

The bidding sequence will be in schedule number order per the three sections mentioned above.

Bids for the Internet

sale will be accepted on

line through the internet auction only after registering with

both t

he Treasurer’s office and SRI.

Bidding may be made on

line from any inter

net terminal through

SRI’s site:

You may bid or track more than o

ne item at a time in the

list.

You may also click on the title of an

item for more information and bid from there.

You may add an item to your Members Area tracki

ng list without placing a bid.

Just check the box

and you will be able to view the status of the item quickly with the

rest of the items you have

tracked or bid on by logging into the Members Area.

Bids will be accepted in the amount of t

he minimum with the first bid. In other words,

minimum

of $968 wi

ll be accepted in that amount.

The next bid will be increased to the

next even amount

that is les

s than the required increment.

All subsequent bids will be increased in the amount of

the increment.

Proxy bidding:

You may enter the largest amount you are willing to p

ay for an item in the bid box.

The amount entered must be i

n an amount that will equal the minimum plus the increment

Rogue Tax Sale Investor

204

rounded to the nearest total by us

ing the established increment.

The auction system will place the

lowest bid necessary for you now, and then will bid on your behalf if someone else bids against

u, up to the amount of the bid you placed.

A bidder may increase the amount of the proxy bid any time before the bid is accepted as the final bid.

Once a bidder has placed a bid amount, it can not be lowered or cancelled.

All successful bids are final. N

o changes in, or cancellation of a purchased lien will be made after a bid

has been made on a lien or the item has closed.

Bids will be recognized up to the time of closing and the system will display “bidding is closing” and the

highest bid received at

that time will be the winning bid.

Bidding will be closed in groups of approximately 200 liens per hour for 13 hours on October 29th starting

at 8:00 a.m.

for the first group.

The closing will continue until 8:00 p.m. with a batch closing every hour.

Ite

ms in each group will be identified with a closing time.

Access to a computer for bidding will be available in the Jefferson County Treasurer’s office starting on

October 25th between the hours of 8:00 a.m. and 5:00 p.m.

Liens Not Sold at the S

ale

: Any t

ax liens not sold at the sale are struck to the county and are, in most

cases, available to buy through the Treasurer's Office. To find out more please visit the County Held

Certificates web page:

http://www.co.jefferson.co.us/treasurer/treasurer_T68_R13.htm

General Information

The asset you are purchasing is the tax lien,

not the property

. Every parcel will be offered in compliance

with Chapter 39, Article 11, of the Colorad

o Revised Statutes. Each parcel will be subject to online

bidding and will be sold to the person who pays the highest amount, in excess of said taxes, penalty,

interest, and costs.

No individual updated publications will be available. However, you may use

the Treasurer's automated

phone (303

271

8322) to see if an individual schedule number has been paid.

The auctioning will provide all bidders with an opportunity to compete for each parcel. The County

Treasurer may change the method of sale at his discre

tion prior to commencement of the sale.

Caveat Emptor (Buyer Bewar

It is the bidders' responsibility to know what they are bidding on.

The tax schedule number and total tax lien dollar amount of each parcel will be displayed. All successful

bids are fi

nal. No changes in, or cancellation of a purchased parcel will be made after a bid has been

made on a parcel or the item has closed.

The certificate to be issued on a successful bid will be in the statutory form, showing the lawful rate of

interest for th

e life of the certificate, the legal description, purchase amount, and the buyer's name (as

entered on the registration form), and the date of the sale. Certificates will not be issued in a name other

than the name or names on the registration form. All ce

rtificates may be endorsed (see Endorsement of

Tax Liens below) each year until redeemed, and certificates must be returned to the Treasurer's Office for

this purpose.

Interest begins in October at the rate set after September 1st p

er annum. All county re

demption

sare

made per CRS 39

111(2) (a) (b) but will be no lower than 8% per annum.

Post

Sale Information

Record of Purchase

Starting with the 2007 tax lien sale, all tax lien certificates will be kept in safekeeping

at our of

fice.

With the certif

icates held at Treasurer

’

s office, you will receive your payment

faster when the

lien is paid.

It also allows for endorsing without having to find your certificates and

mailing them in to the

office.

A list of the certificates you purchased will be emailed

to you after the sale is completed.

Rogue Tax Sale Investor

205

Endorsement of Tax Liens

If the taxes for the following year become delinquent, you will be given the

opportunity to pay the taxes and add them onto the certificate(s) you hold. This enables you to pay the

delinquen

t taxes and add them to your existing tax lien certificate of purchase without participating in the

tax lien sale. You will receive the same interest rate on the subsequent taxes as you did on the original

tax sale purchase. Endorsements are processed in l

ate July. If your certificates are eligible for

endorsement you will be notified by mail in July.

Redemption

When the owner pays their back taxes and redeems the tax lien, the Treasurers office will

process the redemption and send your payment to you. Yo

u will receive a check, which will include the

amount of tax you purchased plus the interest that has accrued from the day of

sale to the date of

redemption.

You are not refunded for any premium amount.

The redemption period is three years from the year o

f the original tax sale. Certificates sold in 2007 are

eligible for application of a treasurer's deed in 2010.

OTHER COUNTY INFORMATION

ARAPAHOE COUNTY

http://www.co.arapahoe.co.us

Treasurer’

s Office:

http://www.co.arapahoe.co.us/Departments/TR/index.asp

Treasurer’s Office

Arapahoe County

Government,

Administration Building

5334 S. Prince Street

Littleton, CO 80166

0001

Phone:

303

795

4550

Email:

Treasurer@co.arapahoe.co.us

Real Estate Tax Sale I

nformation:

http://www.co.arapahoe.co.us/Departments/

TR/TaxLien/taxsaleinfo.asp

2007

Real Estate Publication

http://www.co.arapahoe.co.us/Departments/TR/TaxLien/taxsale.txt

Tax

Lien Sale Site

http://www.arapahoetaxsale.com

(run by RealAuction.com)

BOULDER COUNTY

http://www.bouldercounty.org

Treasurer’s Office

http://www.bould

ercounty.org/treas

1325 Pearl St

reet

Boulder, CO 80302

Phone:

303

441

3520

Fax:

303

441

3598

Email:

tradmin@bctaxhelp.com

Tax Lien Sale Information:

http://www.bouldercounty.org/treas/tax_sale/tax_lien_sale.htm

Tax Sale Questions and Answers:

http://www.bouldercounty.org/treas/tax_sale/tsq.htm

Tax Lien Sale

email help:

taxlien@bctaxhelp.com?subject=Tax Lien Information

ROGUE INVESTOR NOTE

: The tax lien properties list (text file and Excel file versions)

is available on the

dat

a CD that accompanies this book (within the file folder “Tax Sale Lists”).

Rogue Tax Sale Investor

206

LARIM

ER COUNTY

http://www.co.larimer.co.us

Treasurer’s Office:

http://www.co.larimer.co.us/treasurer

200 W.

Oak Street

Second Floor

Fort Collins, CO 80521

ailing address:

PO Box 1250

Fort Collins, CO 80522

1250

Phone

(970) 498

7020

Fax: (970) 498

7037

Email:

http://www.co.larimer.co.us/common/mailform.cfm?to=rodenbmj

County Held

Liens:

http://www.co.larimer.co.us/treasurer/tre_web_county_held.pdf

Endorsement of Tax Liens:

http://www.co.la

rimer.co.us/treasurer/endo.htm

Tax Lien Sale Information:

http://www.co.larimer.co.us/treasurer/taxsale.htm

Tax Lien Sale Advertising File:

ftp://www.larimer.org/tre/Advertising_Files

9 Form:

http://www.co.larimer.co.us/treasurer/IRS_Form_W9.pdf

Treasurer’s Deed Information:

http://www.co.larimer.co.us/treasurer/Deed.htm

Tax Sales Statewide:

http://www.e

ccta.org/Forms/Tax%20Sales/2007%20Tax%20Sales.htm

ROGU

EINVESTORNOTE

: The county

held liens list

is available on the

data

CD that accompanies this

book (within the file folder “Tax Sale Lists”).

MESA COUNTY

http://www.mesacounty.us

Treasurer:

http://treasurer.mesacounty.us

P.O. Box 20000

544 Rood Avenue, Room 100

Grand Junction, CO 81502

5027

Phone:

(970) 244

1824

Email:

mctreas@mesacounty.us

Tax Lien Sale Information:

http://treasurer.mesacounty.us/taxlien.aspx

PUEBLO COUNTY

http://www.co.pueblo.co.us

Treasurer’s Office:

http://www.co.pueblo.co.us/treasurer

215 W.

10th Street

, Room # 10

Pueblo, CO 81003

Phone

(719) 583

6015

Phone,

Treasurer’s Deed Department:

(719) 583

6528 or 583

6694

Fax: (719) 583

6526

Email (Treasurer Services Supervisor):

http://www.co.pueblo.co.us/common/mailform.php?recipient=bonfigli

Tax Lien Sale Information:

http://www.co.pueblo.co.us/treasurer

(near bottom of page)

Tax Lien Sale Procedures:

http://www.co.pueblo.co.us/treasurer/tax_lien_sale_info.php#TopOfPage

Rogue Tax Sale Investor

207

Pre

Tax Lien Sale

Procedures:

http://www.co.pueblo.co.us/treasurer/tax_sale/pre

tax_sale_procedures.pdf

Tax Lien Sale Procedures

http://www.co.pueblo.co.us/treasurer/tax_sale/tax_sale_procedures.pdf

Tax Lien Sale Registration Form

http://www.co.pueblo.co.us/treasurer/tax_sale/tax_sale_re

gistration.pdf

Sale List (paid items removed)

http://www.co.pueblo.co.us/treasurer/tax_sale/taxsaleadvert.pdf

Tax

Lien Sale Notice (Courtesy of the

Pueblo Chieftain

dvertised September 29th, October

6th & 13

2007):

http://www.co.pueblo.co.us/treasurer/tax_sale/tax_lien_sale_2007.pdf

View Map of Tax Lien Sale Properties

http://www.pueblomaps.com/website/tax_sale

ROGUE INVESTOR NOTE

: The tax sale list

is available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”)

WELD COUNTY

http://www.co.weld.co.us

Treasurer’s Office:

http://www.co.weld.co.us/departments/treasurer/index.html

Treasurer John

Lefebvre, Jr.

1400 N. 17th

Avenue

Greeley, CO 80631

Phone: 970

353

3845

ext. 3290

Phone, Tax In

formation

ext. 3290

Fax: 970

304

6435

Email:

jlefebvre@co.weld.co.us

Tax Lien Sale:

http://www.co.weld.co.us/departments/treasurer/treasurer_taxsale.html

Internet sale held at

http://www.weldtaxsale.com

by RealAuction.com

Redemption of Tax Liens:

http://www.co.weld.co.us/departments/treasurer/treasurer_redeem.html

Endorsement of Subsequent Tax Years:

http://www.co.weld.co.us/departments/treasurer/treasurer_endorse.html

2007 Tax Sale PowerPoint Presentation:

http://www.co.weld.co.us/departments/trea

surer/2007_tax_lien_sale.ppt

Tax Sale Lists:

PDF format:

http://www.co.weld.co.us/departments/treasurer/pdfs/auction%20with%20groupings.pdf

Excel format

http://www.co.weld.co.us/departments/treasurer/pdfs/auction.xls

Text format:

http://www.co.w

eld.co.us/departments/treasurer/pdfs/auction.txt

Treasurer’s Deed Information:

http://www.co.weld.co.us/departments/treasurer/treasurer_deed.html

ROGUE INVESTOR NOTE

The tax sale list (PDF format)

is available on

the data

CD that accompanies

this book (within the file folder “Tax Sale Lists”).

Rogue Tax Sale Investor

208

PRIVATE SECTOR TAX SALE ADMINI STRATORS

REAL AUCTION

http://www.realauction.c

(1) List of County Auctions

http://www.realauction.com/template.cfm?r=LeftMenu/ListCountyauctions

Colorado online auction websites open in October and the auctio

ns end in November.

Practice website

–

Colorado counties,

visit

http://www.coloradotaxsale.com

ew auction every day

)

Adams County

visit

http://www.adamstaxsale

.com

(closed)

Arapahoe County

visit

http://www.arapahoetaxsale.com

(closed)

Denver City & County

visit

http://www.denvertaxsale.com

(closed)

Weld County

isit

http://www.weldtaxsale.com

(closed)

(2)

Realnews

http://www.realauction.com

, left

hand column

Announcements include upcoming tax sale auctions.

(3) Contact Informat

ion

http://www.realauction.com/template.cfm?r=Contactus/Enquiries

Realauction.com, LLC.

Corporate Headquarters

861 SW 78th Avenue

Suite 102

Plantation, FL 33324

Phone:

954

7400

ax: 954

424

7601

Email:

info@realauction.com

Customer support email:

customerservice@realauction.com

SRI AUCTIONS ONLINE

https://www.sri

auctionsonline.com

ROGUE INVESTOR NOTE

: See web page for announcements of upcoming auctions.

(1)

About

Tax Lien Sales

https://www.sri

auctions

online.com/taxlien.html

(2) Live Auctions

https://www.sri

auctionsonline.com/index.jsp

The following auctions are currently in progress. Follow the links to participate online.

Rogue Tax Sale Investor

Connecticut

Tax Lien Sales:

Tax Deed Sales:

Yes

Over

the

Counter Tax Deed Sales:

Rating:

Four Stars (****)

Interest Rate:

18% (

ee Redemption Period below

Sale Period

Varies,

depending upon the municipality

Redemption Period:

Six

mon

extended right o

fredemption

following the tax deed sale, with

18% interest paid to the investor if the property owner redeems.

Bidding Process:

All auctions are by competitive bid. Bidding process can be complicated

because municipalities within count

ies handle

the sales.

Some municipalities may only offer

deeds in bulk purchases, cutting out the small investor.

Legal Challenge Period:

Within 1

year from the date the collector's deed was recorded or

within

years from the date of the sale, whichever

is longer.

State

Specific Information:

Adeedisgrantedtothepurchaserafterthetaxdeedsale,butis

held unrecorded until after the

six

month period

of redemption.

Connecticut County Links:

See

Connecticut

Tax Sales

http://www.tax

lien

certificates.com

Detailed Municipality

Specific Information:

For links to

contact information for all Connecticut

tax collectors, by city

,visit

http://www.ct.gov/opm/lib/opm/IGP/taxcoll/Taxcoll06.doc

Comprehensive listing of all websites available for the 169 towns and cities in Connecticut

http://www.ct.gov/ctport

al/cwp/view.asp?a=843&q=257266

CITY OF NORWALK, CONNECTICUT

http://www.norwalkct.org

TAX COLLECTOR

http://www.norwalkct.org/TaxBill/COLPAGE1.htm

(1) Contact Information

http://www.norwalkct.org/ALLcontacts.htm

Lisa Biagiarelli, Tax Collector

Phone:

203

854

7731

Email:

lbiagiarelli@norwalkct

.org

Rogue Tax Sale Investor

210

) Tax Sale

http://www.norwalkct.org/TaxBill/TaxSale.HTM

Legal Notice

–

City

of Norwalk, Connecticut

Notice of Sale of Real Estate for Taxes

Connecticut General Statutes

157 (194

9 rev., s.1838; PA 82

141, s. 3,

4; PA 84

146, s. 9; PA 95

228;

PA 97

139)

An informational packet about the July 18, 2005 tax sale is available for purchase at the Tax Collector's

Office at City Hall for $15. This packet explains the tax sale process and

the bidding process in detail, and

provides answers to the questions potential bidders and spectators most frequently ask about tax sales. It

also contains a complete list of the properties offered for sale, as well as copies of the relevant state

statute

Tax Collector of the City of Norwalk, Connecticut: Having made lawful demand for the payment of taxes

due me as the Tax Collector of the City of Norwalk, and payment having been neglected and refused, I

will sell at public auction

the following describ

ed properties, separately, to satisfy taxes, interest and all

charges accrued thereon.

These amounts due are as of June 15

2005

only

. Additional interest and collection costs will be added

prior to the sale. Taxes due on the Grand List of October 1, 200

4 will also be added prior to the sale in

accordance with CGS 12

163. Minimum bids on remaining properties will be posted after July 8, 2005.

Amount collected to date on tax sale properties: $2,187,299 or 101.6% of goal

City Hall Tax Sale Board

(phot

http://www.norwalkct.org/TaxBill/Photos/SleBoard.htm

Tax Collector’s Constructive Notice:

http://www.norwa

lkct.org/TaxBill/txslconstrlglnot62305.pdf

Final Bid List

July 18, 2005:

http://www.norwalkct.org/TaxBill/Finalbidlist.pdf

Final Results

July 18, 2005:

http://www.norwalkct.org/TaxBill/txsl705finlrslts722.pdf

Said sale

will take place in the Norwalk Concert Hall, located at the Norwalk City Hall, 125 East Avenue,

Norwalk, Connecticut, on Monday, July 18, 2005, b

eginning at 5:00 p.m. EDT or after registration of all

bidders has been completed.

None of the properties being sold is guaranteed buildable under current zoning regulations. All properties

are subject to restrictions, covenants, and appurtenances of rec

ord that may appear. The City of Norwalk

and its officials make no representations, warranties or guarantees concerning the suitability or character

of any property offered for tax sale. All properties are subject to additional taxes, interest, fees and ot

her

charges authorized by law accruing subsequent to the date of the notice of sale, including jeopardy

collection of taxes and charges due on the Grand List of October 1, 2004, as per Connecticut General

Statutes

163. Such will be added to the amounts

indicated above as due and owing.

Potential bidders are advised of the possible existence of environmental contaminants on the properties.

Each tax sale property is sold "as is." Potential bidders assume full and complete responsibility for

ascertaining

the suitability and character of each property, for any and all costs incurred pursuant thereto,

and for all costs and/or liability incurred as a consequence of bidding.

Terms of Sale

This is a public auction and property will be sold to the highest bidd

er on each individual

property. The minimum bid on each property will be the amount of taxes, interest, lien and other fees, and

costs due as of the date of the sale.

All interested bidders must pre

cash, b

ank or certified

check or money order

payable to the Tax Collector of the City of Norwalk the day of the sale. Minimum

bids will be announced by the Tax Collector's Office after July 8, 2005. Bidder registration will begin at

:00

p.m. EDT on July 18, 2005

, in the Norwalk Concert Hall. For successful bidders, the balance of the

purchase price is due by 3:00 p.m. EDT on Friday, July 22, 2005, or they shall forfeit the deposit and the

right to purchase the property. Bidders must have a separate $5,000 deposit

for each property on which

they intend to bid. For those properties with total amounts due less than $5,000, the deposit amount will

Rogue Tax Sale Investor

211

be the amount of the minimum bid, payable in

cash, bank or certified check or money order

, payable to

the Tax Collector of

the City of Norwalk.

A Tax Collector's Deed shall be lodged in the office of the Norwalk Town Clerk and shall remain

unrecorded for six months from the date of the sale. If the property

is not redeemed during the six

month

redemption period, then on Janu

ary 18, 2006, title to the property shall pass to the successful bidder.

Note that title passes subject to the redemption rights of the IRS if there are any federal tax liens on the

property. Additional information concerning this process may be found in s

ection 12

157 of the

Connecticut General Statutes.

This notice hereby constitutes a legal levy of my Tax Collector’s warrant(s) on the above described real

estate.

Originally Dated at Norwalk, Connecticut, this 25th day of April 2005.

An informational

packet about the July 18, 2005 tax sale is available for purchase at the Tax Collector’s

Office at City Hall for $15. This packet explains the tax sale process and the bidding process in detail, and

provides answers to the questions potential bidders and s

pectators most frequently ask about tax sales. It

also contains a complete list of the properties offered for sale; as well as copies of the relevant state

statutes.

ROGUE INVESTOR NOTE

: See web page for descriptions and photos of properties for sale.

The

final bid

list has been saved on the dat

a CD that accompanies this book (within the file folder “Tax Sale Lists”).

OTHER MUNICIPALITY INFORMATION

BRIDGEPORT TOWN

http://www.ci.bridgeport.ct.us

= Bridgepo

rt Town website

http://www.ci.bridgeport.ct.us/newdepartments/tax_collector_dep/default.aspx

= Tax Collector

ROGUE INVESTOR NOTE

No information on tax deed sale

available online.

BRISTOL TOWN

http://www.ci.bristol.ct.us

Bristol Town

website

http://www.ci.bristol.ct.us/content/3478/3667/de

fault.aspx

= Tax Collector

ROGUE INVESTOR NOTE

No information on tax deed sales is available online.

According to the Tax

Collector’s O

ffice,

the municipality does not conduct tax deed sales

DANBURY TOWN

htt

p://www.ci.danbury.ct.us

= Danbury Town website

http://www.ci.danbury.ct.us/content/41/180/350/default.aspx

= Tax Collector

The Tax Collector

also

prepares a listing of tax lien

s to be sold and several other delinquent real estate

accounts which will be prepared for a Tax Sale.

ROGUE INVESTOR NOTE

No information on tax deed sales

available online. Ac

cording to the Tax

Collector’s O

ffice, they do not conduct public auctions f

or individual bidders.

The town has a contract with

a company that purchases the liens.

GREENWICH TOWN

http://www.greenwichct.org/Home/default.asp

Greenwich Town

website

http://www.greenwichct.org/TaxCollector/TaxCollector.asp

= Tax Collector

ROGUE INVESTOR NOTE

No information on tax deed sales

available online. According to the Tax

Collector’s

ffice

, they have neve

r had to conduct a sale because

all properties

end up being

redeemed

and the sales

have been

cancelled.

Rogue Tax Sale Investor

212

NEW BRITAIN TOWN

http://www.new

britain.net

= New Britain Town website

http://www.new

britain.net/liv_taxcoll.html

= Tax Collector

ROGUE INVESTOR NOTE

No information on tax deed sales

available online.

According to the Tax

Collector’s Office, properties that go to foreclosure are turned over to va

rious private attorneys in the town

who conduct public sales.

NEW HAVEN TOWN

http://www.cityofnewhaven.com

= New Haven Town website

http://cit

yofnewhaven.com/TaxCollector/index.asp

= Tax Collector

ROGUE INVESTOR NOTE

No information on tax deed sales

available online.

CITY OF STAMFORD

http://www.ci.stamford.ct.us

= City of Stamford website

http://www.ci.stamford.ct.us/content/25/52/131/144/152/default.aspx

= Office of Assessment and Tax

Collection

ROGUE INVESTOR NOTE

: No information

tax

deed

sales is availa

ble online. According to the Tax

Collection and Assessment Office, public sales are conducted by a private attorney on behalf of the city

and can be held at any time of year.

WEST HARTFORD TOWN

http://www.west

hartford.com

West Hartford Town

website

http://www.west

hartford.com/TownServices/TownDepartments/FinancialServices/TaxCollect.htm

=Tax

Collecto

ROGUE INVESTOR NOTE

No information on tax deed sales

available online. According to the Tax

Collector’s office, sales are not conducted at any set time of year. Usually (99.9 percent of the time), all

properties are redeemed before the sale.

Rogue Tax Sale Investor

213

Delaware

Tax Lien Sales:

Tax Deed Sales:

Yes

Over

the

Counter Tax Deed Sales:

Rating:

Two Stars (**)

Interest Rate:

15%

–

20% (

see Redemption Period below).

Sale Period

Sale dates vary depending on

the county.

edemption Period:

In Kent

and Sussex counties, there is a

day

extended right of

redemption

period

following the tax sale.

The highest bidder receives their investment back plus

interest

if the property is redeemed.

If for some reason the sale is ove

rturned by the court,

the highest bidder will only receive back their bid, but no

tthe

interest

In New Castle

County

,thereisa6

day extended right of redemption

period

from the date the tax sale is

confirmed by the Superior Court

(approximately 90

days from the tax sale date)

If redeemed

during the first 30 days following the tax sale, the investor receives back their bid price. If

redeemed after that, the investor receives 15% or 20% interest, depending on whether taxes

are owed to the city or co

unty.

Bidding Process:

ctions are by competitive bid. The w

inning bidder pays

the

highest value

for

the

property.

State

Specific Information:

Delaware only has three counties.

In New Castle County, if the

court approves the sheriff’s sale the invest

or receives a certificate that entitles

him/her

to all

rights to the property, subject to the right of redemption. In Kent and Sussex counties, the

investor receives a deed to the property, subject to the right of redemption.

Delaware County Links

See

elaware

Tax Sales

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

KENT COUNTY, DELAWARE

http://www.co.kent.de.us

SHERIFF’S OF

FICE

http://co.kent.de.us/Departments/RowOffices/Sheriff/index.htm

Sheriff James Higdon

Kent County Courthouse

38 The Green

Room 125

Dover, DE 19901

Phone: (302) 736

2161

Fax:

(302) 736

2164

Rogue Tax Sale Investor

214

Please note that the status on a property listed for sale could change the day before the scheduled sale

date. Please call the following numbers for updated st

atus on pending property sales. For mortgage

sales:

(302) 736

2161

; for tax sal

es:

(302) 744

2341

(1) Procedures for Sheriff Sale

http://co.kent.de.us/Departments/RowOffices/Sheriff/ssprocedures.htm

There are three types of Sheriff sales:

Tax

Sales:

Properties are being sold for

nonpayment of county taxes and/

or county water and sewer fees

for no less than a two

year period. These sales are held approximately every three months.

City or Town Tax Sales:

Properties are being sold for non

paymen

t of town taxes. All properties are

located within a town or city limits and taxes have not been paid for no less than a two

year period.

Please do your own leg work as to researching the property to make sure there are no hidden liens that

you would be r

esponsible for if you are the successful bidder.

These sales are verbal bidding, property going to the highest bidder. No matter what is owed in taxes, the

property is going to the highest bidder. The full amount of the bid price is due the day of the sal

e. Cash,

certified check and cashier’s check are the only forms of payment that will be accepted. You will be given

a couple of hours to go to the bank to secure funds. The original owner of the property has approximately

60 days to pay their delinquent ta

xes plus 15% of the highest bid to redeem their property. If for some

reason the sale is overturned by the court, the highest bidder will only receive back their bid, but no 15%.

Within this 60

day period, you will only hear from the office if the property

is redeemed or if the sale has

been overturned by the court. If you do not hear from this office, proceed to your attorney’s office to have

your deed prepared. Your deed will be sent over to this office for the Sheriff’s signature. At this time a

check wi

ll be made out for our 1 ½% of the transfer fee.

The signed deed and checks will be returned to your attorney for recording.

Mortgage Foreclosures:

Mortgage foreclosures are usually held the first Tuesday or Thursday of every

month. Properties are being

sold for nonpayment of mortgage. This sale is also verbal bidding, with

property going to the highest bidder. The attorney for the mortgage company gives the opening bid, and

the bidding starts from there. Prior to the sale, we have no idea where the bidd

ing is going to start or stop.

There is no redemption period for this type of sale. If you are the successful bidder, we require 20% of

your bid price that day. Payment again is cash, cashier’s or certified check. You will be given a couple of

hours to go

to the bank to secure funds. The balance of your bid is due in approximately 30 days, in the

same type of form. After the sale is confirmed by Superior Court, you then go to your attorney to have a

deed drawn up. The deed is sent to the Sheriff’s Office to

be signed by the Sheriff, at which time a check

is cut for 1 ½% of the transfer fee. The deed, along with the check for the transfer fee, is returned to your

attorney to be recorded. If for some reason the sale is not confirmed by the court, you will be n

otified.

It is very important for you, the buyer, to research these properties as to whether there are any other

mortgages or liens against the property that you could be responsible for if you are the successful bidder.

This office does not guarantee cl

ear titles.

Research can be done at the Recorder of Deeds Office, which is located in the O’Brien Building on

Federal Street, Dover, and also at the Prothonotary’s Office, which is located in the courthouse on the

Green.

If you pay your 20% on the day of

the sale and do not come back with the balance of the monies on the

assigned date, you will forfeit your 20% down payment. If you are the successful bidder and you do not

come back with the 20% down payment or you for some reason change your mind about pu

rchasing the

property, you will be barred from all future sales.

All sales are advertised in the Dover Post and the Delaware State News on Wednesdays. We have sale

packets in this office for the public to come by and pick up. There is also a county

web

sit

e where sales

are listed:

http:// www.co.kent.de.us/sheriff_na.htm

Rogue Tax Sale Investor

215

As of October 1, 2003, a $2,000 certified check is required at the time your winning bid is accepted. The

balance of your 20% may be

paid with a personal check.

(2) Future Sheriff

Tax

Sales

http://www.co.kent.de.us/Departments/RowOffices/Sheriff

April 29, 2008

Sheriff Tax Foreclosure Sale

http://co.kent.de.us/Departments/RowOffices/Sheriff/documents/SHAPRILTAX2008.pdf

ROGUE INVESTOR NOTE

The tax sale list

is available on

the data CD that accompanies this book

(within the file folder “Tax Sale Lists”).

NEW CASTLE COUNTY, DELAWARE

http://www.co.new

castle.de.us

SHERIFF’S OFFICE

http://www.

co.new

castle.de.us/sheriff/home/webpage1.asp

Sheriff

Mike Walsh

Louis L. Redding City/County Building

800 N. French Street, 5th Floor

Wilmington, Delaware 19801

Phone: (302) 395

8450

Fax (302) 395

8460

Auction of real estate:

Sheriff sales are held the

second T

uesday of every month offering real e

state that

is b

eing foreclosed upon due to non

payment of mortgage or non

payment of various local government

taxes.

Auctions are held in the County Council Chambers on the ground floor of the City County Buil

ding, 800

North French Street, Wilmington, DE 19801

Effective with the January 10, 2006 auction:

A $5,000.00 cashier

’

s check payable to the Sheriff of New

Castle County is required to enter bidding at the auction. If you do not have cash or a cashier

’

sch

eck,

your bid will not be accepted. Your check will only be collected if you are the sucessful bidder.

Sheriff s

ales are held at 10

. on the s

econd Tuesday of every month in

Council Chambers at

800

North French St

reet.

There is a Fire Marshall lim

it o

f 152 persons at the sale, so get there early.

Title and

ien research on each property is t

he responsibility of the Bidder.

Properties

are sold sight unseen, “as is.”

There is no "walk through" or appraisal for the prop

erties before or after the sale.

She

riff sales are “cash

deals.”

Any Financing for Sheriff sale properties should be arranged pr

ior to the auction, not after;

being

pre

approved is not sufficient

. Sales are final and deposits are non

refundable.

Bidders are encouraged to

complete the deeding

process ASAP

You may have to evict occupants at your own expense

24 Hour Recording of Stayed Properties

: (302) 395

STAY (7829). Y

ou must have an Official She

riff Sale

list to use this line.

2008

Sheriff Sale Calendar

Sheriff Sale Results Since July

2001

(1) Sheriff Sale Guidelines

http://www.co.new

castle.de.us/sheriff/home/POS_TBLTOPIC_Attachment_bv.asp?key=64

Sheriff Sale Guidelines, Honorable Mich

ael P. Walsh, New Castle County Sheriff,

800 North French

reet, 5th Floor,

Wilmington, DE 19802

Rogue Tax Sale Investor

216

Sales are held the second Tuesday of every month in the Council Chambers of the City/County Building

(not a court house) at 800 N. French Street, Wilmington,

DE 19801 at 10:00 a.m. sharp.

The room capacity is 152 people. Get there early.

Open public bidding. If you intend to bid you must have a valid ID (driver’s license) and be prepared to

pay required amount immediately following your bid (you cannot leave

the auction without paying).

Cash/personal checks written on open/established accounts are accepted at sale with valid ID (no starter

checks).

Sheriff posters are posted on foreclosed property and many public buildings prior to sale.

Sheriff sales are

advertised in the News Journal newspaper the two Thursdays preceding sale date.

Copies of the Sheriff sale list are available for review or purchase ($10 cash) at the Sheriff’s Office.

Tax Foreclosures (VEM)

Entire bid price (100%) is due on date of sal

e (during the auction).

Your bid does not necessarily wipe away other debts on the property.

You must research the property at the Recorder of Deeds Office, located on the 4

Floor at 800 N.

French Street, Wilmingon, DE 19801 or

http://www.nccde.org

and Prothonotory of NCC at the

Courthouse at 500 King Street, Wilmington, DE 19801.

Mortgage Sales (Lev Fac) and Judgements (Vendex)

10% of your bid is due the day of the sale (during the auction) with the balance due o

n the first Monday of

the month following the sale. The 90% balance of your bid must be paid with a cashier’s/certified check.

Failure to pay balance of bid as required will result in forfeiture of the 10% deposit.

Your bid does not necessarily negate ot

her debts on the property.

You must research the property at the Recorder of Deeds Office, located on the 4

Floor at 800 N.

French Street, Wilmingon, DE 19801 or

http://www.nccde.org

and Prothonotory of NCC at the

ourthouse at 500 King Street, Wilmington, DE 19801.

Starting with the January 2006 sale a $5,000.00 cashier’s check made payable to the Sheriff of the NCC

will be required to participate in the Sheriff’s auction.

All sales can be stopped (stayed) until 1

0:00 a.m. on sale day. Those received after 9:00 a.m. will be

announced by the auctioneer.

All properties are purchased “as is,” sight unseen.

Your bids make you responsible for possible liens.

Sale deposits are non

refundable.

Tenants/owners of proper

ties are not automatically evicted from Sheriff sale properties.

Confirmation of sales occurs the Friday after the first Monday of the month after the sale.

Petition for no attempt at redemption of a tax sale is filed by high bidder after expiration of

the redemption

period (60 days from confirmation date).

Rogue Tax Sale Investor

217

Update your official Sheriff sale list with the current stays by dialing (302) 395

STAY (7829).

For further information please call the Sheriff’s Office at 302

395

8450 and county website at

http://www.nccde.org

SUSSEX COUNTY, DELAW ARE

http://www.sussexcountyde.gov

SHERIFF’S OFFICE

http://

www.sussexcountyde.gov/departments/index.cfm?id=42

Sheriff

Eric D. Swanson

West Complex Building

P.O. Box 69

Georgetown, DE 19947

Phone (302) 855

7830

Fax (302) 855

7832

Email form:

http://www.sussexcountyde.gov/contact.cfm?id=58&type=1

This office holds Sheriff's sales for non

payment of taxes, mortgage foreclosures plus all other court

orders.

(1) Sheriff Sales

http://www.sussexcountyde.gov/departments/sheriff/index.cfm?action=sales

The next Sheriff Sale will be on April 15, 2008 at 9:30

a.m.

For t

he terms of the sale click here:

http://www.sussexcountyde.gov/departments/sheriff/index.cfm?action=sales_info

Past sales:

http://www.sussexco

untyde.gov/departments/sheriff/index.cfm?action=sales&showpast=true

ROGUE INVESTOR NOTE

: See web page

list of properties for sale and status amount owed. Each list is

linked to a web page with more complete details about the property, terms of sale, auc

tion registration,

etc.

(2) Sheriff Sale Disclaimer

http://www.sussexcountyde.gov/departments/sheriff/index.cfm?action=sales_info

Sheriff Sale Location and Ti

The third Tuesday of every month promptly at 9:30 a.m.

ith the

exception of Goods & Chattels Sales)

Sussex County Sheriff's Office

Main Conference Room

22215 N. Dupont

Boulevard

(

Route

113 North)

Georgetown, DE 19947

Property Notification:

Notic

es posted on foreclosed property and public buildings prior to sale.

Advertised in the Sussex Countian and one local newspaper two weeks prior to sale.

Risks to Bidders: Buyer Beware!

Tax (Monition) Sales

: Entire bid amount (100%) is due on date of sal

e at time of sale. You

must

research

the property at the Recorder of Deeds Office and the Prothonatary’s Office located on the Circle in

Georgetown. We do

not

guarantee clear title! The owner has the right to redeem their property any time

within 60 days f

rom the day the sale is approved by the Court.

Mortgage Sales

: 20% of bid is due the day of sale with the balance due the first Monday of the month

following the sale. Failure to pay the balance will result in forfeiture of sale and the 20% deposit. Sale

Rogue Tax Sale Investor

218

deposits are non

refundable. You must research the property at the Recorder of Deeds Office and the

Prothonotary’s Office located in Georgetown. We do

not

guarantee clear title!

Your bid does not necessarily negate other debts on the property. You

must

research the property at the

Recorder of Deeds Office and the Prothonatary’s Office located on the circle in Georgetown.

Terms and Regulations

: All

sales can be stopped (

stayed

) until 9:30

a.m.

on sale day. All properties are

purchased on an “as

is” basi

s, sight unseen (no trespassing on properties).Your bid makes you

responsible for any possible liens.

Tenants/o

wners of properties are not automatically evicted from Sheriff Sale properties. Confirmation of

the sale occurs the first Friday after the firs

t Monday of the following month of sale.

Change of ownership of the property does not occur until a proper deed is recorded.

Terms of Moni t ion Sale (Tax Sale):

100 percent of the purchase money will b

e demanded on the day of

sale: cash, certified c

hec

, or cashier’s c

heck. Sale subject to confirmation by the Superior Court and

subject to the owner

’

s right of redemption pursuant to 9 Del. C., Section 8728. And also subject to a 1 ½

percent Delaware Realty Transfer Tax, ¾ percent to be paid by the

eller

and ¾ percent to be paid by the

urchaser. Also subject to a 1 ½ percent Sussex County Realty Tax

, ¾ percent to be paid by the s

eller

and ¾ percent to be paid by the

uyer. Any further Transfer Ta

x is the responsibility of the purchaser. The

urchaser will

be required to pay the cost of the deed; a $200.00 deposit will be collected at the time of

sale and will be refunded if a proper deed is presented to the Sheriff’s Office within

45 days of

confirmation. If the p

urchaser fails to comply with these terms t

he payment made of the day of sale will be

forfeited.

Terms of Levari Facias (Mortgage Sale) :

20 percent of the purchase money will b

e demanded on the

day of sale: c

ash,

ertified

check, or cashier’s c

heck. Sale subject to confirmation by the Superior Co

urt,

and also subject to a 1 ½ percent Delaware Realty Transfer Ta

x; ¾ percent to be paid by the s

eller a

nd ¾

percent to be paid by the p

urchaser. Also subject to a 1 ½ percent Sussex County Realty Tax; ¾ percent

to be paid by the

eller and ¾ percent to b

e paid by the

uyer. Any Further Transfer Ta

x is the

responsibility of the purchaser. The p

urchaser will be required to pay the cost of the deed; a $200.00

deposit will be collected at the time of sale and will be refunded if a proper deed is presented to

the

Sheriff’s Office within

45 days of confirmation. If the p

urchaser fails to comply with these terms the

percentum paid on the day of sale will be forfeited.

Goods & Chattels Terms of Sale:

100% of the bid amount is due

at the time of the sale. Cash, c

ashier

’s

or certified c

heck is required.

Sheriff Sale Registration Information: All

bidders will be required to register prior to the start of the

Sheriff Sale. To register you will need a $4,000.00 deposit. Your deposit must be paid with cash or a

cashi

’

s/certified check made payable to the Sheriff of Sussex County. You will also need your driver’s

license or a valid photo I.D. Both items are required in order to receive a bidder number. You

must

have

this bidder number to place a bid. Your cash/check

will be held on deposit until the completion of the sale

at which time your cash/check will be refunded if you are not a successful bidder. Same bid number must

be returned to Auctioneer/Clerk for return of deposit. The successful bidder’s deposit will be

applied to the

20% deposit required for the purchase of the property. The remaining amount of the 20% deposit must be

paid before 3:00

p.m.

the day of sale or you will forfeit your deposit and the property will be resold.

Please make

certified check or c

ashier’s c

heck payable to: Sheriff, Sussex County.

Rogue Tax Sale Investor

219

Florida

Tax Lien Sales:

Yes

.Thesesalesare

handled by the Tax Collector’

sOfficeinmostcounties

Over

the

Counter Tax Lien Sales:

Yes. C

ertificates not sold at the tax lien sale are “s

truck off”

to the county. After the tax sale is closed and balanced, these

county

held

certificates can be

purchased in the Tax Collector’s Office.

Certificates may be purchased by mail or in person, on

afirst

come, first

serve basis, at the maximum inter

est rate of 18 percent.

Tax Deed Sales:

Yes

.Thesesalesare

handled by the Clerk of Circuit Court in most counties.

Application for a tax deed sale is made at the Tax Collector’s Office.

Over

the

Counter Tax Deed Sales:

Yes.

Apropertythatdoesnotse

ll at the tax deed sale is

placed on the "List of Lands Available for Taxes." After 90 days from the sale date, anyone can

purchase property off the "List of Lands Available for Taxes."

These sales are

handled by the

Clerk of Circuit Court in most counties

Rating:

Four Stars (*

***)

Interest Rate:

18% per year

for tax liens. A

minimum mandatory fee of 5%

(for bids

of at least

)

,evenif

the tax lien is

redeemed early.

No extended right of redemption following the tax

deed sale.

Sale Period

According

to state law,

tax lien

sales must occur

on or

before

June 1st

Tax lien

sales are held in April and May in most counties.

Tax deed sales are held throughout the year.

Some counties hold tax deed sales every week.

Redemption Period:

2years

for tax liens.

extended

right of redemption following

the

tax

deed sale.

Bidding Process:

Bidding at tax lien sales is by competitive bid, with the w

inning bidder

accepting the

lowest interest rate. Bids go in quarter percentage increments; for ex

ample, 17

¾% follow

ed by 17 ½%. Bidding can proceed downward to as low as ¼% and the bidder still

receives a minimum of 5% interest. If the bidder chooses to bid down to zero percent interest,

the bidder will not earn the minimum 5%.

Tax deeds are offered through competitive

bid to the

highest bidder.

Homestead properties are sold for a minimum bid of one half of their assessed

value.

Many counties are now conducting their sales online.

State

Specific Information:

Florida is probably one of the most famous tax lien states be

cause

the interest rate of 18% per year is favorable and, if the property goes to foreclosure, the

redempti

on period of 2 years is short. Florida also has a favorable tax deed process, allowing

the investor to obtain

deed to

property without a legal ch

allenge period.

If the tax certificate is not redeemed, the certificate holder cannot institute foreclosure and

receive the deed; rather, a public deed sale must occur.

The tax deed is sold to the highest

bidder. If the tax lien holder is not the highest

bidder at the tax deed sale, he/she will receive

their investment back with interest.

Florida

also

has some restrictions regarding the number of lots an individual investor can own

without being registered as a developer.

An individual

who is not a devel

oper is allowed to buy a

tax deed for only one lot in a planned subdivi

sion for the purpose of resale (s

ection 498.025

[1a]

Florida Statutes

Aselleroflotsinpropertysubdividedorproposedtobesubdividedinto50lots

Rogue Tax Sale Investor

220

or more is required to be regis

tered with the Department of Business and Professional

Regulation, Division of Florida Land Sales, Condominiums, and Mobile Homes. Also, if a

certificate holder purchases 5 certificates in subdivision that contains 25 or more lots, and

eventually obtained

5taxdeeds,hewouldbesubjecttotheprovisionsofsection498.022,

Florida Statutes, regarding standards for transacting land sales.

Therefore, it is recommended

that when purchasing certificates on lots or parcels in a subdivision, the Department of B

usiness

and Professional Regulation, Division of Florida Land Sales, Condominiums, and Mobile Homes

be co

ntacted at (850) 488

1631.

AlistingofFloridataxcollectorsbycountyisavailableontheFloridaTaxCollectorswebsite:

http://floridataxcollectors.com

Marion County, Florida Tax Deed Sale

–

June 2005

This was a crazy sale. A group of

apparent

Haitian drug dealers bought most of the properties

at the tax deed sale

, held in Ocala, Florida,

for mar

ket value. There is an area called Rainbow

Lake where a bankrupt development is starting to come back to life. At the sale, lots were

selling for about $40,000 to $50,000, the upper end of market value, with most of the buying in

cash. When the sale starte

d, five men entered the room and one of them started bidding. After

winning the first bid, the man admitted that he did not have a bidding card. However, instead of

removing him from the sale, the county clerk allowed him to obtain his bidding card and buy

the

property.

This same man then proceeded to buy just about every good property for top dollar, with

money being no issue. On one property he actually bid against himself and raised the final bid

by $2,000 unnecessarily. We had heard from another inve

stor that in some areas of Florida,

drug dealers use the sale as a money laundering scheme. Since the country accepts cash, and

large amounts of property can be purchased with no contracts or questions, it is a simple way

to move money from an illegitimate

business to a legitimate one. It saddens me that crime can

sometimes influence a tax sale. But with thousands of tax sales being conducted every year,

one might expect some criminal involvement. When we have been to sales in Florida in the

past, competiti

on was tight but the sales were fair.

Citrus Count y

Florida

Tax Deed Sale

–

June 2004

Held in Inverness, Florida, this was a good sale. There were approximately 10 properties in the

sale, all of which were lots that were located in residential areas. A

lot we purchased was

located across the street from a beautiful lake. Most of the properties stayed in the range of

$5,000 to $10,000; however, some properties were bid up to market value. Based on our

research, Florida’s tax deed sales are getting discove

red. For better results, stick to

unpopulated counties.

Florida County L inks:

See

Florida

Tax Sales

http://www.floridataxliencertificates.com

http://www.floridataxdeedsales.com

and

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

Rogue Tax Sale Investor

221

BROWARD COUNTY, FLOR

IDA

http:

//www.co.broward.fl.us

REVENUE COLLECTION D

IVISION

http://www.broward.org/revenue

Phone: (954) 831

4000

Email:

revenue@broward.org

(1)

Tax Certificate Frequen

tly Asked Questions

http://www.broward.org/revenue/cert_faqs.htm

Certificate

uyers need to be aware that there are inherent risks involved in purchasing tax certificates.

Broward County Reven

ue Collection does not guarantee the condition of any property or title with respect

thereto. The risks are bo

rne by the certificate holder.

Do your research before investing and purchasing.

Plea

se also note:

Broward County does not guarantee eventual paym

ent of tax certificates.

What is a Tax Certificate?

An interest bearing first lien representing unpaid delinquent real e

state

property taxes which are

offered for sale by Broward County Revenue Collection through competitive bid

to pay delinquent taxes. T

ax certificates are not "recorded" liens nor are they reported to any credit

bureaus. They are a "first" priority lien.

What rights to the property does a certificate owner have?

None. You have not purchased property.

A tax certificate is an investment. T

his investment does not convey any rights or ownership to the

certificate holder.

Please note:

Broward County does not guarantee eventual payment of tax certificates.

Does Broward County have a "live" sale or an on

line sale?

At this time, Broward County

conducts a

"live" tax certificate sale.

What are

the date, time, and location of your tax sale?

Our Tax Certificate Sale takes place every

year on or before June 1, in compliance with Florida Statutes (197.432 F.S.). The date, time and location

of the Tax

Sale will be announced after May 1st.

The Ta

x Sale lasts approximately 5 days, depending on

the number of items. Occasionally, there is a second sale in early fall. Please contact our office for

information.

What method of payment is accepted?

Only cash,

cashier

’s

checks, wire transfers,

and money orders

are accepted. Payments cannot be made online.

Payments must be made via wire transfer or in person

at the Governmental Center Annex, Room A

100, 115 S. Andrews Avenue, Ft. Lauderdale, Florida during

regul

ar business hours of 8:30 a.m. to 5:00 p.m.

Where and when will the auction be advertised and how often?

The listing of unpaid taxes is

published in the Daily Business Review on or about May 1. The list is published three times in May. The

Daily Business

view can be contacted at

633 South Andrews Avenue, Fort Lauderdale, FL 33301

phone: (800) 777

7300 or (954) 468

2600, or via the I

nternet at

http://www.dailybusinessreview.com

How many bidders appe

ar at the auction?

There are approximately 150

200 bidders present at the

auction.

Is the interest rate

always

18% on a tax certificate?

Investors bid the interest rate downward, starting

at 18%. Bids are accepted in increments of a ¼ of 1%. Certificates

are awarded to the buyer who is

willing to pay the taxes, interest and associated costs at the lowest rate of interest, which has been ¼ of

1% in the last few years.

When do I register for the tax sale?

Buyers may register in person for a buyer number app

roximately

one week prior to the Tax Certificate sale and during the scheduled sale days at Broward County

Governmental Center Annex, 115 South Andrews Avenue, Room A

100, Fort Lauderdale

Florida 33301.

What are the buyer requir ements?

The buyer must co

mplete and file form W

9 "Payer's Request for

Taxpayer Identification Number and Certification" for each buyer number assigned as all interest will be

Rogue Tax Sale Investor

222

reported to the Internal Revenue Service. A single buyer number will be assigned for each Social Security

Number (SSN) or Employer Identification Number (EIN/TIN) provided and must be identical to the name

provided on the W

9 form. Original proof of either Social Security Number (SSN) or Employer

Identification Number (EIN/TIN) is required. The name on the EI

N/TIN document (SS

4) or SSN form

must be identical to what is entered on the W

9 form, without exception. For SSNs: The signature on the

must

be the signature on the SSN document

. For EIN/TINs:

The signature on the W

must

be from

an officer of the C

orporation or LLC,

not

an Agent of the Corporation or LLC. The officer must sign and

state his/her position with the Corporation or LLC. Cli

ck here for a form W

9, pdf file:

http://www.broward.org

/revenue/rvi00305.pdf

If an agent is acting on behalf of one or more investors, he/she must present an original W

9 form and

social security number (SSN) or Employer Identification Number (EIN) for each individual investor. The

original SSN card or EIN

/TIN document for each individual investor must match the W

9. The Agent’s

name or signature cannot appear on any documents.

All interest earned will be reported to the IRS on form 1099

int.

A minimum $1,000.00 deposit is required for each buyer number a

ssigned. The

deposit shall be cash,

cashier’s

check, certified check or money order payable to Broward County Revenue Collection. This

deposit will be applied to the purchase of tax certificates. If no tax certificates are purchased, the deposit

will be re

funded approximately 4

6 weeks after the completion and balancing of the tax certificate sale.

No personal checks, money market account checks or Attorney's Trust account checks will be accepted.

In what order are the properties called?

The properties a

re called in the order they are listed in the

which is the order they appear on the tax roll. Items designated with an asterisk (*) identify

properties with homestead. This order will not be changed.

Is payment in full required on the day o

f the sale?

Payments of not less than ten percent (10%) of the

total bid made daily by the bidder are required. This ten percent (10%) may include the original $1,000.00

cash deposit. This payment must be made each day on the amount of certificates purchas

ed the prior

day, non

sale days excluded. This procedure is necessary to ensure the purchaser will pay for the

certificates when delivered.

What if timely deposi t is not made?

If a timely deposit is not made, continued participation in the tax

sale will n

ot be authorized until the amount is settled.

What happens when the sale is over?

Upon the completion of the tax certificate sale, Broward County

Revenue Collection will notify each purchaser when the tax sale electronic listings are ready. This

notificat

ion will include the balance due and the location where the purchaser can obtain the listing of

certificates purchased.

When must the balance be paid ?

The balance due must be paid within forty eight (48) hours of the

mailing of the notice, (exclusive of h

olidays, Saturdays and Sundays), and must be certified funds. Wire

transfers must be received by Broward County Revenue Collection prior to the deadline

What if I don't pay for my certificates?

Failure to pay for all certificates awarded will result in fo

rfeiture

of all certificates and loss of deposit. Those certificates would be re

auctioned at a later time.

How do I get paid?

When a certificate has been redeemed (owner, title company or mortgage company

pays the outstanding taxes) to Broward County Rev

enue Collection, the certificate holder is entitled to the

face value plus whatever interest the certificate has earned. Proceeds are remitted weekly to the

certificate holder. The certificate holder is never paid directly unless it is from a Bankruptcy T

rustee. If that

happens, the certificate holder must notify Broward County Revenue Collection when he/she is paid in full

and request that the certificate be cancelled.

What is the r edempti on period of a tax certificate?

The property owner can redeem a ce

rtificate at any

time until the property is sold at a tax deed sale OR until the certificate has expired (7 years after the date

of issuance).

Rogue Tax Sale Investor

223

Can I pay the taxes and own the property?

No. You have not purchased property. A tax certificate is an

investmen

t. This investment does not convey any property rights or ownership to the certificate holder. A

certificate holder is an investor and the purpose of purchasing certificates is to earn interest on your

investment not to get the property.

Can I borrow the

keys or make an appointment with Revenue Collection to view the property so

that I can look at it before I bu y?

Revenue Collection is not a Real Estate Agency, does not have the

keys to the property and knows nothing about the condition of any property. D

o your own research! The

Property Appraiser’s office and their website have USE codes and maps. Revenue Collection can only tell

you about the taxes that are due. Remember: You are trespassing if you go onto the property.

Do liens follow the property?

overnment liens always follow the property. It is important to research

the payment history and type of property before you bid on certificates.

Are tax certificates always a good investment?

The following possibilities, though not inclusive, are

some of

the non

cost recoverable circumstances that could affect the amount of interest you earn on your

investment and/or the amount of your investment:

Owner files bankruptcy (interest could be reduced and/or Trustee will send you $7 per month,

etc.)

Department

of Revenue correction on the taxes

Court orders the omitting of taxes

Assessed value on the property by the Property Appraiser may be in error and not subject to

retroactive correction when the problem is discovered

Parcel may have had an assessed structu

re or wood frame home that is subsequently burned

down or condemned

Parcel may have had a mobile home on it at the time of the tax certificate sale which has been

removed or destroyed, leaving the property vacant

A condo

is part of a group of buildings tha

t are later condemned or destroyed.

Does Broward County guarantee payment?

Broward County does not guarantee eventual payment of

tax certificates. Risks Exist! You must do your research.

Can I contact the property owner and convince him/her to pay?

Acer

tificate holder who initiates, or

whose agent initiates, contact with the property owner upon which he or she holds a certificate

encouraging or demanding payment may be barred by the tax collector from bidding at future tax

certificate sales. Unfair or de

ceptive contact by the holder of a tax certificate to a property owner to obtain

payment is an unfair and deceptive trade practice according to law, regardless of whether th

e tax

certificate is redeemed.

Such unfair or deceptive contact is actionable under

applicable laws prohibiting

fraud.

Neither a certificate holder

nor an Agent, can take any action against the property and/or the property

owner (direct or indirect) until he or she has held the certificate for twenty

two (22) months. After that

period

of time, an Application for Tax Deed can be made, which forces the owner to pay the back taxes or

the property is sold at a public auction to the highest bidder.

How

do I transfer a ce rtificate to another party?

Not all certificates can be transferred. So

me examples

include those properties that have a pending bankruptcy or where a tax deed application has been

submitted. If the certificate is eligible for transfer, the seller of the certificate must complete the required

paperwork which requires notarizat

ion.

The new buyer must be a registered buyer. If the buyer is not a registered buyer, he/she will be required

to complete and file form W

9 "Payer's Request for Taxpayer Identification Number and Certification"

(TIN) for each buyer number assigned as all

interest will be reported to the Internal Revenue Service. A

single buyer number will be assigned for each Social Security Number (SSN) or Employer Identification

Number (EIN) provided and must be identical to the name provided on the W

9 form. Original p

roof of

either Social Security Number (SSN) or Employer Identification Number (EIN) is required. For TINs: The

signature on the W

9 must be from an officer of the Corporation or LLC, not an Agent of the Corporation

Rogue Tax Sale Investor

224

or LLC. The officer must sign and state

his/her position with the Corporation or LLC. Click here for a W

form (pdf form):

http://www.co.broward.fl.us/revenue/rvi00305.pdf

Any change to a tax certificate will constitute a trans

fer and will be subject to the appropriate fees and

paperwork for each certificate bought under that number. The transfer paperwork must be presented to

Broward County Revenue Collection along with the fee of $2.25 per certificate before the transfer is va

lid.

Do you have a mailing list for tax certificate information?

Beginning in May, the procedures of the tax

certificate sale will be available on our website. The sale schedule and other information will be mailed in

the middle of May

to anyone who has c

ontacted us

or who has participated in a previous tax certificate

sale.

(2) Tax D eed

Application

Frequently Asked Questio ns

http://www.broward.org/revenue/tda_faqs.htm#td

Be advised that no

t all

tax certificates are desirable

or profitable and

therefore, the

tax d

eeds and

properties should be viewed as “

Buyer Beware.”

What is a Tax Deed Application?

Tax Deed application is the action, initiated by a tax certificate holder,

which begins the

process of selling a property at public auction for the delinquent taxes.

Who/When can I make a Tax Deed Application?

Only a certificate holder who has held a tax certificate

for a minimum of 22 months is eligible to make a tax deed application with the

Revenue Collection

Division. This action forces the owner to pay the back taxes or the property would be sold at a public

auction to the highest bidder.

I have hel d my tax certificate f or 22 months.

How may I obtain the forms to make a Tax Deed

Applicatio

n? Please email

taxdeeds@broward.org

and the information will be sent to you. Electronically

submitting your application will expedite the process

I have hel d my tax certificate f or 22 months. How can I go abou

t purchasing/owning the property?

A tax certificate is an investment. The investment does not convey any rights or ownership to the

certificate holder. In order to own the property, you'd have to make a tax deed application, attend the tax

deed auction and

be the highest bidder at the sale.

How is a Tax Deed Application made?

At the time of application, the certificate holder (applicant) pays

any other outstanding taxes as well as a title search fee and a tax deed application fee. All of the unpaid

taxes a

nd fees are then combined with the applicant's certificate, and interest is earned at the rate of 18%

per annum. This interest begins accumulating at 1

1/2% per month, beginning the month after the

application date.

What happens if the property for which

a Tax Dee d Application exists is paid (redeemed)?

payment is made to Broward County Revenue Collection by the tax payer (property owner) or the

mortgage company, the applicant is reimbursed for their total investment, the accrued interest and the

Tax De

ed sale process is stopped.

What happens if the property for which a Tax Deed Applicatio

n exists is not paid (redeemed)?

The

property will be scheduled for sale at public auction.

Can anyone pay the Delinquent taxes and own the property?

No. Payment of d

elinquent taxes does

not give the payee any rights to property. The redemption (payment) of a Tax Deed application is only

accepted from someone with a legal interest in the property such as the property owner, his

representative, or a mortgage company.

ill the property owner be notified of the impending sale?

Yes. An ownership and encumbrance

report is obtained. Twenty days prior to auction, notification is sent by Certified mail to the property owner,

lien holders, and other parties appearing in the rep

ort. Additionally, the Sheriff's office will serve/post a

notice of sale on the property. If your mailing address has changed, it is very important to update this

information with

the Property Appraisers Office.

Contact the Property Appraiser

for additiona

l information.

Rogue Tax Sale Investor

225

Are ther e additional costs involved?

Approximately two months before the tax deed sale, the Tax Deed

Applicant must pay additional funds for the cost of advertising, certified mailings and sheriff services or

postings. These fees are then ad

ded to the total amount due to redeem the Tax Deed application.

How often are Tax Deed Sales held?

We schedule Tax Deed sales once a month except for the month

of June. The scheduled sale dates are as follows:*

Thursday September 20, 2007

Thursday Octobe

r 18, 2007

Tuesday November 6, 2007

Thursday December 20, 2007

Wednesday January 23, 2008

Wednesday February 20, 2008

Wednesday March 19, 2008

Wednesday April 23, 2008

Wednesday May 21, 2008

Wednesday July 23, 2008

Wednesday August 20, 2008

Wednesday

September 24, 2008

Wednesday October 22, 2008

* Due to scheduling and other statutory requirements, dates are subject to change.

Unless otherwise noted, all sales are conducted in Room 302 of the Governmental Center, 115 S.

Andrews Avenue

Ft. Lauderda

le.

Please check the Daily Business Review for the most current sale date and time or call our office at 954

468

3428.

Where are the Tax Deed Sales held?

Tax Deed sales are currently held in the Governmental Center

located at: 115 S. Andrews Avenue, Fort

Lauderdale, FL 33301.

Sales will be held in a conference room on the third floor, or other location, as advertised in the Daily

Business Review.

What time does the Tax Deed Sale begin?

The Tax Deed sale starts at 10:00 A.M. unless otherwise

stated in

the advertisement.

When and where are the properties to be sold at the Tax Deed Sal es advertised?

The properties are

advertised in the Daily Business Review (Broward Edition), Thursday edition, four weeks prior to the Tax

Deed Sale. The advertising includ

es the property identification number, the tax deed number, name in

which assessed and the legal description.

How can a copy of the Daily Business Review be obtained?

The Daily Business Review may be

purchased at various newsstands throughout Broward Coun

ty or by contacting them at 633 South

Andrews Avenue, Fort Lauderdale, FL 33301; Phone: 954

468

2600; or via the web at

www.dailybusinessreview.com

Are the Tax Deed files available for review?

One wee

k prior to a Tax Deed Sale, the working files are

available for the public to review at Broward County Revenue Collection, 115 S. Andrews Avenue, Room

100, Fort Lauderdale, FL 33301. The information contained in the working files should not be utilized

as the sole source of research on the property. It is the bidder's responsibility to obtain pertinent legal, lien

and title information.

What is the Opening Bid?

The opening bid is the amount of back taxes, included in the tax deed

application, interest a

nd fees (applicant’s investment). If the property has homestead exemption, the

opening bid will also include one half (1/2) of the assessed value on the current tax roll. The bid amount

may not include all property taxes.

Rogue Tax Sale Investor

226

Are all taxes include d in the ope

ning bid?

The opening bid may not include all unpaid taxes. The

successful bidder would be responsible to pay any other real estate or personal property taxes. The tax

bills will be supplied by Broward County Revenue Collection.

What should a potential bi

dder know prior to participating in a Tax Deed Sale?

Tax Deed sales are

not for the uninformed. It is imperative that anyone interested in participating in the Tax Deed Sale

conduct extensive research including a full title and lien search prior to bidding

on any properties.

What are the requirements to bid on/purchase property?

Do your research! You or a representative

must be physically present at the sale to bid on the property. The individual, bidding at the auction, must

also be authorized to purchase

property on behalf of the entity to be listed on the Tax Deed and provide

the required corporate or power of attorney documentation to our office. If bidding on behalf of a trust,

LLC or corporation, of which the bidder is not an officer of that entity, t

he bidder must provide notarized

authorization from the entity which allows the bidder to purchase property in that entity's name. The

bidder must also provide corporate papers from that entity which reflects the name of the officer providing

the notarized

authorization. This paperwork must be present at the auction and that same bidder must

submit the paperwork to our office when payment is made and documents are signed. These documents

must be signed by the actual bidder or the officer of the corporation

or LLC. Note: If the bidder does not

have the proper authorization, the Tax Deed must be prepared in the name of the bidder only. The bidder

would then be required to provide valid photo identification when submitting payment and signing the

required docum

ents for the purchase of property.

What if the ce rtificate holder/applicant would like to purchase the property?

The certificate holder/

applicant must be present and bid for the property if he/she would want to own the property. He/ she must

make the hig

hest bid in order to purchase the property.

What is the successful bid der required to provide immediately?

The successful bidder must produce

valid photo identification such as a driver's license and also provide us with a telephone number. A

nonrefundabl

e cash deposit of $200 is collected at the time of the sale, and w

ould be forfeited upon

default

(197.542[2] F.S.).

Is payment in full required the day of the sale?

Full payment must be made at the office of Broward

County Revenue Collection located at 11

5 S. Andrews Avenue, Room A

100, Fort Lauderdale, FL no

later than 10:00 A.M. the following morning. A separate cashier's check is required for each property

purchased. If the payment is not received within the specified time, the deposit and property are

forfeited

along with the bidder's/entity's privilege to participate in any future tax deed sales (197.542[2] F.S.).

What is the successful bid der required to provide at time of payment?

Since there are various forms

to be signed by the new owner, and som

e require notarization, the successful bidder must provide valid

photo identification. If the bid was made on behalf of any entity other than the name of the individual

bidding, proper documentation must be presented. (i.e. , articles of incorporation, cur

rent power of

attorney, etc.) When property is purchased at a tax deed sale, this office would collect the full amount bid

(which includes the taxes and fees in the application) along with the Recording fees and Doc Stamp fees.

At the time of the sale, you

would be informed of the total amount due.

If the property would be redeemed prior to this office “issuing” the deed, you will be contacted at the

telephone number you provided to us at the sale. If you had already presented your cashier’s check, you

wou

ld then need to come into the office, with your receipts, and retrieve the cashier’s check and the $200

cash deposit.

Is the property sold free and clear of liens?

No. Additional property taxes, as well as, liens on the

property, may be due and would beco

me the responsibility of the new owner. It is imperative that anyone

interested in participating in the Tax Deed sale conduct extensive research including a full title and lien

search prior to bidding on any properties. Government liens follow the property

. Vacant property may

have lot clearing, code and other liens attached to it.

hat type of docume nt is issued as a result of the sa le?

Tax Deed is issued. A tax deed is a form of

title given in the event property is sold to satisfy taxes;

tax deed carri

es no warranties and does not

Rogue Tax Sale Investor

227

guarantee clear title. It is to the buyer's advantage to consult a real estate attorney in efforts to obtain

clear title.

Once a property is acquired at a Tax Dee d Sale, is there a redemption period for the former

propert y ow

ner?

The former owner will be allowed to pay the delinquent taxes, and the sale made void

until the new deed has been issued. This process takes about 24 hours from the time of sale. In the event

that this would happen, the cashier's check along with the d

eposit would be returned, or a refund issued

to the successful bidder.

The property may be redeemed by anyone with a legal interest in the property, such as the owner or

mortgage company, until we “issue” the deed which is when we “walk out of our office”

to take the

paperwork to Broward County Records for recording. Once that happens, the taxes are no longer

redeemable.

What happens to the properties that do not sell at the auction?

If the Tax Deed Applicant is an

individual, and there are no bids at the

sale, the applicant is required to accept the property by paying the

additional costs of the documentary stamps, recording fees, and ½ the assessed value if the property is

homesteaded. This must be made within 24 hours of the auction. If the Tax Deed App

licant is Broward

County and there are no bids at the sale, the property is immediately placed on the list of Lands Available

for Taxes (L.A.F.T.).

Are all properties inhabitable and/or buildable?

. You

must

do your research! It is imperative that

anyon

e interested in participating in the tax deed sale conduct extensive research including a full title and

lien search prior to bidding on any properties. Otherwise, you could end up with a drainage ditch, a sign,

condemned property, a stairwell, a heap of j

unk, a small strip of nothing, etc.

Can

I borrow the keys or make an appointment with Revenue Collection t o view the property so

that I can look at it before I bu y?

Revenue Collection is

not

a Real Estate Agency,

does not

have the

keys to the property and

knows nothing about the condition of any property. Do your own research! The

Property Appraiser's office and their website have USE codes and maps. Revenue Collection can only tell

you about the taxes that are due. Remember: You are trespassing if you go

onto the property.

Can Reve nue C ollection provide pictures of the property, floor plans, size of rooms, etc.?

No.

Revenue Collection can only tell you about the taxes that are due.

Does Broward County guarantee the sale?

Broward County

does not

guarantee

the condition of any

property or title with respect thereto.

All properties are sold “Buyer Beware.”

Do I have the right to immediate possession?

Yes. The tax deed makes you the owner.

Will Revenue Collection evict people living on the property and dis

pose of unwanted junk left

there?

o. Revenue Collection does not evict people or remove junk; contact the Sheriff's office for

eviction.

Will Revenue Collection help me get clear ti tle?

No. A tax deed carries no warranties and does not

guarantee clear ti

tle. It is to the buyer's advantage to consult a real estate attorney in efforts to obtain

clear title.

(3) Lands Available for Taxes Frequently Asked Questions

http://www.broward.org/revenu

e/tda_faqs.htm#laft

Be advised that not all properties are desirable and therefore, the properties in Lands Available for Taxes

should be viewed as “

Buyer Beware.

”

Extensive research is required by the interested party in order to

obtain the full amount

of liens and/or encumbrances due on these properties and the status of the title.

What is “Lands Available for Taxes” (L.A.F.T.)?

Lands available for taxes are properties that have

been advertised for tax deed sale at public auction, and no bidders appea

red at the public sale to

purchase the properties. When this happens, Revenue Collection is required to enter the land on a list

Rogue Tax Sale Investor

228

entitled "lands available for taxes" and to notify the Board of County Commissioners and all other persons

holding certificates

against the folio that the land is available.

Who may purchase properties from L.A.F.T.?

Pursuant to 197.502(7),

F.S. for the first ninety (90) days

that a property is in L.A.F.T., only the County may purchase the property for the opening base bid. After

the ninety days have expired, any person or governmental unit may purchase the land for the opening

bid, subsequent omitted taxes, plus any accrued interest plus documentary stamps, recording and

indexing fees.

Where can I obtain a copy the L.A.F.T. list

The L.A.F.T. list

can be viewed or purchased at

Broward

County Revenue Collection, 115 S. Andrews Avenue, Room A

100, Fort Lauderdale, FL 33301

view

the information on

line,

click here

htt

p://www.broward.org/revenue/rvi00306.pdf

How many properties are on the L.A.F.T. li st?

The number of properties varies;

please contact our

office at 954

468

3430 for the most current number or view the list on

line.

How can properties be pu rchased fro

mL.A.F.T.?

Extensive research is required by the interested

party in order to obtain the full amount of liens due on these properties and the status of the title. After

completing the research, reviewing the listing and the corresponding Tax Deed file, a

quote informing the

interested party of the amount due to purchase the property can be provided by Broward County

Revenue Collection.

How many quotes can be requested at one time?

A maximum of three quotes can be requested per

day per individual/entity.

How long does it take to receive the quote?

Quotes are accepted Monday thru Friday and are

available within 3

5 business days of the request.

To receive your quote via e

mail, please provide your e

mail address at the time the request is submitted.

Note:

Due to the possibility of error, omission, and events beyond our control, no warranty or guarantee is

expressed or implied as to the accuracy of any given quote. Please use your good judgment and always

verify prices before you purchase.

How long is a qu

ote valid?

The date will be specified on the bottom

of the quote.

The deadline is the

third Friday of the month to insure that the payment is validated and the paperwork is completed by the

last working day of the month.

On the first day of the new month,

additional interest and fees would be

due and a new quote would be required.

Once a q uote is given, how is the property purchased?

The purchaser must come to

Broward County

Revenue Collection, 115 South Andrews Avenue, Room A

100, Fort Lauderdale, FL

betw

een 8:30

a.m.

and 5:00 p.m.

with a c

ashier's check for the total amount of the quote prior to the specified deadline. The

purchaser must present valid government issued photo identification (i.e.

driver

’s license, state ID card,

assport, etc.). Also, if

the property is being purchased in the name of an entity other than the individual,

the buyer must present proper documentation (i.e.

power of attorney, corporate papers, etc.) that shows

that he/she is authorized to sign as purchaser on behalf of the ent

ity.

Will a Tax Deed be issued right away?

No. From the time the transaction has been completed at

Broward County Revenue Collection, it takes approximately a week for the Tax Deed to be issued.

Is the property sold free and clear of liens?

Additio

nal pr

operty taxes, as well as

liens on the property

may be due and would become the re

sponsibility of the new owner.

It is imperative that anyone interested

in purchasing from Lands Available for Taxes conduct extensive research including a full title and lien

search prior to requesting a quote or purchasing any properties.

How long are i t ems in L.A.F.T.?

If the oldest unredeemed tax certificate was sold prior to the year 2000,

the property will remain on the L.A.F.T. list for seven years from the date the pro

perty

was offered at a tax

deed sale.

All other properties will remain in L.A.F.T. for three years.

Rogue Tax Sale Investor

229

What happens to pr operties that are not purchased from L.A.F.T.?

The land shall escheat to Broward

County

(197.502[8]

,F.S.

All tax certificates and lien

s against the property shall be canceled, and

Revenue Collection will execute a tax deed vesting title in the Board of County Commissioners. Once an

item has escheated to the County, it is no

longer available for purchase.

Certificate holders have no

furth

er opportunity to recover their investment.

) Lands Available for Taxes List

http://www.broward.org/revenue/rvi00306.pdf

ROGUE INVESTOR NOTE

: The

list is available on the

data CD that accom

panies this book

(within the

file folder “Tax Sale Lists”)

(5) County Held Certificates Frequently Asked Questions

http://www.broward.org/revenue/coheld_faqs.htm#ch

Certificate

uyers ne

ed to be aware that there are inherent risks involved in purchasing tax certificates.

Broward County Revenue Collection does not guarantee the condition of any property or title with respect

thereto. The risks are borne by the certificate holder. Do your r

esearch before investing and purchasing.

Please also note:

Broward County

does not

guarantee eventual payment of tax certificates.

What is a C

ounty

eld

ertificate?

A tax certificate is an interest bearing first lien representing unpaid

delinquent real

estate property taxes which are offered for sale by Broward County Revenue Collection

through competitive bid to pay delinquent taxes. If there are no bids on an item, the applicable tax

certificate is issued in the name of Broward County (County

Held) at

the highest rate of interest allowed

by law (18%). Tax certificates are not recorded liens nor are they reported to any credit bureaus. They are

a “first” priority lien.

Why would a certificate not have any bids and be issued in the name of the County?

e bidders at

the auction obviously felt that it may be a "risky" investment (i.e.

the property has a long history of

delinquent taxes, it may be encumbered with government liens, a tax deed application already exists, the

property is worthless, etc.). Do

your research before investing.

Are County Held Certificates available for purchase?

Yes. However, the following tax certificates that

have been issued to Broward County must remain with Broward County:

Those representing less than $100 in delinquent tax

es on property that has been granted

homestead exemption

Parcels upon which an application has been made and has been approved for the Tax Deferred

Program

Those representing delinquent taxes on a subsurface right

Click here to view/download the 2005 C

ounty Held Certificate Listing (.pdf)

39 kb

http://www.broward.org/revenue/coheld_2005.pdf

Click here to view/download the 2006 County Held Certificate Listing (.pdf)

76 kb

http://www.broward.org/revenue/coheld_2006.pdf

Click here to view/download the 2007 County Held Certificate Listing (.pdf)

70kb)

htt

p://www.broward.org/revenue/2007_coheld.pdf

(Requires Adobe Acrobat Reader)

What rights to the property does a certificate owner have?

None. You have not purchased property.

A tax certificate is an investment. This investment does not convey any rights

or ownership to the

rtificate holder. Please note:

Broward County does not guarantee eventual payment of tax certificates.

Rogue Tax Sale Investor

230

What is the r edempti on period of a tax certificate?

The property owner can redeem a certificate at any

time until the property is

sold at a tax deed sale

until the certificate has expired (7 years after the date

of issuance).

Can I pay the taxes and own the property?

No. You have not purchased property. A tax certificate is an

investment. This investment does not convey any pro

perty rights or ownership to the certificate holder. A

certificate holder is an investor and the purpose of purchasing certificates is to earn interest on your

investment not to get the property.

Can I borrow the keys or make an appointment with Revenue C

ollection to view the property so

that I can look at it before I bu y?

Revenue Collection is

not

a Real Estate Agency,

does not

have the

keys to the property and knows nothing about the condition of any property. Do your own research! The

Property Appraiser

’s office and their website have USE codes and maps. Revenue Collection can only tell

you about the taxes that are due. Remember: You are trespassing if you go onto the property.

Do liens follow the property?

Government liens always follow the property. I

t is important to research

the payment history and type of property before you bid on certificates.

Are tax certificates always a good investment?

The following possibilities, though not inclusive

are

some of the non

cost recoverable circumstances that c

ould affect the amount of interest you earn on your

investment and/or the amount of your investment:

Owner files bankruptcy (interest could be reduced and/or Trustee will send you $7 per month,

etc.)

Department of Revenue correction on the taxes

Court o

rders omitting of taxes

Assessed value on the property by the Property Appraiser may be in error and not subject to

retroactive correction when the problem is discovered

Parcel may have had an assessed structure or wood frame home that is subsequently bu

rned

down, damaged or condemned

Parcel may have had a mobile home on it at the time of the tax certificate sale which has been

removed or destroyed, leaving the property vacant

A condo is part of a group of buildings that are later condemned, damaged or

destroyed

Does Broward County guarantee payment?

Broward County

does not

guarantee eventual paym

ent of

tax certificates. Risks e

xist! You must do your research.

What is the i nterest rate on County

Held tax certificates?

he interest rate is the maximum

te of

interest allowed by law:

18%.

Can I purchase a County

Held Certificat e and right away make a tax deed application ?

You can

only make a tax deed application if the tax certificate is 2 years old.

Is there a limit to how many I can purchase?

No.

u can purchase as many certificates as you want.

Be sure to do your research for purchasing.

How do I purchase Count y

Held tax certificates?

The following are the steps:

1. Obtain a quote. Review the list of available certificates, research the items and

send an e

mail request

for quote to

countycerts@broward.org

. Upon receipt of your e

mail, Revenue Collection will review the

records to insure the requested certificates are still available and contact you,

via e

mail

advising the

amount due to complete the certificate purchase(s). Be sure to list property ID number and certificate

number. A "Request to Purchase" form will be provided in the e

mail for you fill out. Note: Amount due is

determined by the mont

h in which transfer of certificate is complete, not the month in which the request is

submitted.

2. If you have not previously purchased certificates, you must obtain a bidder number from Revenue

Collection. To do this complete a W

9 or W

8 form and mail

or bring (faxed or e

mailed copies will not

accepted as or

iginal signatures are required)

the completed form along with your original social security

Rogue Tax Sale Investor

231

or tax id number to our office at Revenue Collection Division, Delinquent Tax Department, 115 South

Andrew

s Avenue, Room A

100, Fort Lauderdale, FL 33301. Note: Your original documents will be

returned.

Buyer numbers will not be issued until the time of the actual purchase.

3. If purchasing in the name of a company, you must provide copies of the articles of

incorporation or

other document whereby showing that you are authorized to complete the transaction on behalf of the

company. The signature on the W

9 form must be from an officer of the corporation and must state his/

her position with the corporation or

LLC.

4. Return the Purchase form with your payment to our office via mail at Revenue Collection Division,

Delinquent Tax Department, 115 South Andrews Avenue, Room A

100, Fort Lauderdale, FL 33301.

How do I pay for the certificates?

Payment for the purc

hase of County Held Certificates is required in

the form of cashier's check or money order payable to: Broward County Revenue Collection

Once I request a quote, how long do I have to purchase it?

Certi

ficates will be sold on a first

come

first

served ba

sis to the party whose payment is received first. The quote is only valid until the date given.

The amount due changes on the first of every month and

therefore, if payment is not received by the due

date given, a new request for quote will be required.

(6) County

Held Certificates List

http://www.broward.org/revenue/coheld_faqs.htm#ch

2005 County Held Certificate

Listing

htt

p://www.broward.org/revenue/coheld_2005.pdf

2006 County Held Certificate

Listing

http://www.broward.org/revenue/coheld_2006.pdf

2007 County Held Certificate Listing

http://www.broward.org/revenue/2007_coheld.pdf

ROGUE INVESTOR NOTE

: The county

held tax certificate lists are available on the dat

a CD that

accompanies this book (within the file folder “Tax Sale Lists”).

)

Office Locations

http://www.broward.org/revenue/rvi00310.htm

Governmental Center Annex

115 South Andrews Avenue

Fort Lauderdale, Florida 33301

Phone: (954)

831

4000

Rogue Tax Sale Investor

232

CHARLOTTE

COUNTY, FLORIDA

http://www.charlottecountyfl.com

TAX COLLECTOR’S OFFICE

http://www.cctaxcol.com

Vickie Potts, Tax Collector

Phone:

(941) 743

1350

(1) Contact

Information

http://www.cctaxcol.com/contactinfo.htm

Punta Gorda Communications Department

410 Taylor Road

Punta Gorda, FL 33950

Phone:

(941) 743

1350

Fax: (941) 637

2276

Email:

cctaxinfo@co.charlotte.fl.us

(2) Tax C alendar

http://www.cctaxcol.com/calendar.htm

May

List of delinquent real estate taxes advertised once per week for three conse

cutive weeks prior to

tax certificate sale in a local newspaper.

June

Tax certificate sale for delinquent real estate taxes begins on or before June 1st.

) Delinquent Real Estate Taxes

ttp://www.cctaxcol.com/advalorem.htm#Delinquent

Real estate taxes become delinquent on April 1st each year. Florida Statutes require the Tax Collector to

advertise the delinquent parcels in a local newspaper once a week for three consecutive weeks foll

owing

the payment deadline. Advertising and collection fees are added to the delinquent taxpayer's bill.

Beginning on or before June 1st, the Tax Collector is required by law to hold a Tax Certificate Sale. The

certificates represent liens on all unpaid r

eal estate properties. The sale allows citizens to buy certificates

by paying off the owed tax debt. The sale is conducted in reverse auction style with participants bidding

downward on interest rates starting at 18%. The certificate is awarded to the lowe

st bidder.

A tax certificate, when purchased, becomes an enforceable first lien against the real estate. The

certificate holder is actually paying the taxes for a property owner in exchange for a competitive bid rate

of return on his investment. In order

to remove the lien, the property owner must pay the Tax Collector all

delinquent taxes plus accrued interest, penalties and advertising fees. The Tax Collector then notifies the

certificate holder of any certificates redeemed and a refund check is then iss

ued to the certificate holder.

A tax certificate is valid for seven years from the date of issuance. The holder may apply for a tax deed

when two or more years have elapsed since the date of delinquency. If the property owner fails to pay the

tax debt, th

e property tax deed is sold at public auction.

(4) Tax C ertificate Sale Brochure

http://www.cctaxcol.com/images/certsale.pdf

When do real estate taxes become delinquent?

Real estate taxes beco

me delinquent April 1st each

year. Example: 2006 taxes become delinquent

April 1, 2007. At that time, 3% interest is added to

the

gross amount.

Rogue Tax Sale Investor

233

Are delinquent taxes advertised?

Yes. A list of all real property with delinquent taxes

is advertised once

awe

ek for three consecutive

weeks in a local newspaper. The advertisement

specifies the place, date,

and time of the Tax

Certificate Sale.

What is a tax certificate?

A tax certificate represents a lien on real property

and bears interest at a

aximum rate of

18% per

year. The cost to purchase a certificate is listed

beside each parcel in the

delinquent advertisement,

and includes gross tax, interest, advertising cost,

and the cost of the Tax

Certificate Sale.

What is a tax certificate sale?

On the advertised

day and time, the Tax Collector

auctions and sells a

tax certificate on each

delinquent parcel. Since the taxes on some parcels

will have been paid prior to the

sale, those parcels

that appeared in the newspaper advertisement will

be skipped. Bidding begi

ns at 18%

and the

certificate is sold to the person bidding the

lowest

annual interest rate.

What if there are no bidders?

If there are no bidders for a certificate, it is issued to

the County at 18%

interest.

How are tax certificates redeemed?

In order

to clear the tax property of the tax

certificate lien, the

property owner must pay the

amount of the tax certificate plus the rate of interest

at which the certificate

was sold, calculated from

the month of the sale to the month of the

redemption with a 5%

minimum

unless the bid was

0%. If the bid was 0%, there will be

interest

accrued. When a tax certificate is

redeemed, on or

after June 1, a $6.25 redemption fee is also charged.

After redemption, the certificate

holder receives the

amount invested plus

interest. Please note that

interest earned is taxable and must be

reported to

the IRS. Each January, an IRS 1099

INT form is

sent to each certificate holder for earnings in

the

previous year.

What if the ce rtificate is not redeemed?

If the certificate is

not redeemed within two years

from the date

the tax became delinquent, the

certificate holder may apply for a tax deed, and

bring the land to sale at a

public auction. Example:

2006 taxes became delinquent April 1, 2007;

therefore, a tax deed application

may be made after

April 1, 2009. A certificate holder who wishes to

apply for a tax deed must redeem all

the other

certificates and pay other fees as mandated by state

law.

What happens at the land sale?

If the land goes to a public sale, the starting bid

is the total amount of

the tax deed application.

When the property is assessed on the latest tax

roll as homestead property, the

starting bid also

includes one

half of the assessed value of the

property as listed on the current year’s tax

roll.

The highes

t bidder will receive a tax deed from

the Clerk of the Circuit Court. This is not the

same as

a Warranty Deed as more steps may be

necessary to obtain a clear title. If there is no

action commenced

by the former owner within

4 years of the tax deed being i

ssued, then the owner

will have clear title to the

property. If the applicant

is not the highest bidder, he/she will be reimbursed

for the total amount paid at

the time of the

application plus 1 1/2% interest per month from

application. Any difference betw

een the

highest bid

and the amount paid in the application is sent to the

property owner by the Clerk of the Circuit

Courts

office.

The 1999 Legislature amended the process for

obtaining tax deeds for real property by holders of

tax sale

certificates, sec

tion 197.502, Florida

Statutes, effective May 26, 1999. See Chapter

190, Laws of

Florida (see Senate Bill 1534,

sections 3

5). As described below, portions of this

law apply only to

property that is on the list of lands

available for taxes upon which th

ere are no

outstanding tax sale

certificates that were issued

prior to July 1, 1999 (see Senate Bill 1534, section

8).

This new law changes the start date for determining

the 90

day period during which the county may

purchase land from the list of lands a

vailable for

taxes. Under prior law, this 90

day period began

the day

after the public sale. Under the new law,

this 90

day period begins when the land is place

the list of

lands available for taxes.

This new law changes the period of time before land

will escheat to the county,

from seven years from

the day the land is offered for public sale to three

years from the day the land is

offered for public

sale. See section 197.502 (8), Florida Statutes

(1999).

Can a property owner stop a land sale?

Yes. Th

e owner of the property can prevent the loss

of the

land by paying all accrued taxes, costs, and

interest at any time before the tax deed is issued.

Rogue Tax Sale Investor

234

What is the life of a tax certificate?

The life of a tax certificate is seven years from the

date of issua

nce.

If the certificate holder does not

apply for a tax deed within the seven years, the

certificate is null and

void.

Is this a risk free investment?

No, although a secure investment in most cases, as

with any investment,

there is an element of risk.

The

re are t

hree possible risks to consider:

If there is a correction to the original taxes

levied which would decrease the certificate

value or

cancel the certificate, the law provides

for the portion in error to be refunded to the

certificate

holder with 8

% interest or rate of

interest bid, whichever is less, per annum

calculated monthly to

the date of cancellation

or correction.

If the property value drops significantly in

subsequent tax years, it may cost more to bring

the

property to sale than the value

gained by

owning the property.

If the landowner enters into bankruptcy, the

certificate holder is prevented from enforcing

the lien

until the bankruptcy is released. In one

instance, the bankruptcy court lowered the

interest rate

and ordered payments to

be made

over a five year period.

Are the county’s certificates available for purchase?

Yes, c

ounty

held certificates are available for

purchase in the Tax Collector’s office. When

someone buys a county certificate, the lien is

transferred to

the buyer. Th

e purchase price is

the amount of the original certificate plus

interest due to the date of

purchase, plus $6.25

administrative fee. The interest rate of the

purchased certificate is 18%. Anyone

interested in purchasing county certificates

should call the

Delinquent Tax Department.

How do I become a bidder?

Beginning May 1st bidders may register online.

A link will be provided from

our website at

http://www.cctaxcol.com

. A registration form

must be completed online

for each bidder,

with

name, address, pho

ne number, and tax

payer

identification or social security number.

For further information regarding

the Tax Certificate Sale, please

contact the Delinquent Tax

Department

at (941) 743

1356 or

visit us on the web at:

http://www.cctaxcol.com

(5) Tax D eed Brochure

http://www.cctaxcol.com/images/deed.pdf

Florida Statutes provide that the Clerk of the

Circuit Court is re

sponsible for the

administration of tax deed

sales.

How can a tax certificate be brought to sale?

If a certificate is not redeemed within two years

from the

date the taxes became delinquent; the

certificate holder may apply for a tax deed, and

bring the l

and to

sale at a public auction.

Example 2006 taxes are delinquent April 1,

2007; therefore, a tax deed

application may be

made after April 1, 2009. A certificate holder

who wishes to apply for a tax deed must

redeem all other certificates and pay other fe

as mandated by state law. For further

information on tax

certificates contact

Charlotte County Tax Collector at 941

743

1356.

What is a tax deed sale?

A tax deed sale is the sale of property at public

auction for back taxes and fees

associated with

bri

nging the property to sale.

How do I purchase a tax deed propert y at a tax deed sale?

All properties are sold at the Punta Gorda

Justice Center at a public auction after notice

published in the newspaper. Anyone may bid

on the

property and it is sold to t

he highest

bidder. The total amount of bid, plus recording

fees must be received

by the Clerk within 24

hours after the sale. Payment must be

made by cash, cashier’s check or money

order only. Please make payable to Clerk

of Circuit Court.

How is the star

ting bid obtained?

The starting bid, otherwise called base bid, is

calculated from the following charges:

Rogue Tax Sale Investor

235

Tax Collectors Fee . .$75.00

Taxes & Interest ... .$(varies)

*Ownership & Encumbrance Report $65.00

*Clerk’s Statutory Fee . .$60.00

*Advertising Charge ... $(varies)

**Postage . .$(varies)

**Sheriff’s Fee ... $20.00 per person served

Additional Interest ..(1.5% per month figure

above)

1/2 Assessed Value .. $(varies)

(if Homestead Property)

Starting Bid

Total of Above

* These fees are fixed fees for each property

** These fees depend on the number of

individuals to be notified.

Is the owner of the property sent a notice that the propert y is being sold?

Yes. Florida Statute

197.522 requires the

Clerk of the Circuit Cour

t to send a notice to

the owner of record and any lienholder

record.

The owne

r is sent a Warning Notice which

contains the date and time of the sale, by

certified

mail.

If the owner resides in the State of Florida,

the sheriff of the county where the o

wner

resides

attempts service of a Warning

Notice on the owner.

A notice of Application for Tax Deed, which

states the date and time of the sale and the

amount

to redeem the property is mailed along

with each Warning Notice.

The Notice of Application is pu

blished once

each week for four consecutive weeks at

weekly

intervals in a newspaper selected as

provided in s.197.402. No tax deed sale shall

be held until

thirty days after the first

publication of the notice.

What happens if I am the high bidder?

Once

all fees have been paid, a Tax Deed is issued

and

recorded in the name you request for the

property on which you were the high bidder.

According to

Florida Statute 197.562, “Any person,

firm, corporation, or county that is the grantee of

any tax deed

under

this law shall be entitled to the

immediate possession of the lands described in the

deed.”

Can a tax deed sale be stopped?

Yes. According to Florida Statute 197.422, tax

deed property may be

redeemed anytime prior to the

recording of the tax deed if all

back taxes and fees

are paid to the Tax

Collector.

Do liens survive the issuance of a tax deed?

You may wish to consult your attorney. Florida

Statute

197.552 provides, in part, “

except as

specifically provided in this chapter, no right,

interest, restr

iction,

or other

covenant

shall survive

the issuance of a tax deed, except that a lien of

record held by a municipal

or county government

unit, when such lien is not satisfied as of the

disbursement of proceeds of sale

under the

provisions of s.197.582, sh

all survive the issuance

of a tax deed ”

Now that I have a tax deed what must I do?

There may be additional activities that are necessary

in order to obtain marketable title. However, this

question cannot be answered by the Tax Collectors

Office. You may

wish to contact your attorney for

further information

What happens when there are no bidders at the county tax deed sale?

The property goes on the list

of “Lands Available

for Taxes” pursuant to Florida Statute 197.502. The

1999 Legislature amended the

ocess for obtaining

tax deeds for the real property by holders of tax sale

certificates, section 197.502,

Florida Statutes,

effective May 26, 1999. See Chapter 99

190, Laws

of Florida (see Senate Bill 1534,

sections 3

5). As

described below, portions of th

is law apply only to

property that is on the list of lands

available for

taxes upon which there are no outstanding tax sale

certificates that were issued prior to July

1, 1999

(see Senate Bill 1534, section 8).

This new law changes the start date for dete

rmining

the 90

day period during which the county may

purchase land from the list of lands available for

taxes. Under prior law, this 90

day period began

the day

after the public sale. Under the new law,

this 90

day begins when the land is placed on the

st of lands

available for taxes.

This new law changes the period of time before land

will escheat to the county, from

Rogue Tax Sale Investor

236

seven years from

the day the land is offered for public sale to three

years from the day the land is offered

for public

sale. See section

197.502 (8), Florida Statutes

(1999).

(6) 2008 Tax Certificate Sale

http://www.charlottetaxsale.com

ROGUE INVESTOR NOTE

: The Charlotte County tax sale is conducted on the Internet by Real Auction

(see Int

ernet Auction Information at the end of the Florida section). Visit this website for Bidding Rules,

Training, Registering, and Previewing Items for Sale. Note:

The list for the 2008 tax certificate auction will

be available early in May of 2008.

(

)Downl

oad Forms

http://www.cctaxcol.com/forms.htm

Bidder Registration Form for Tax Certificate Sale only

http://www.cctaxcol.com/_private/regis.txt

Please

print, fill out, mail or fax to 941

743

1364

CLERK OF THE CIRCUIT COURT

http://www.co.charlotte.fl.us/clrkinfo/clerk_default.htm

Barbara Scott, Clerk of the Circuit Court

Charlotte County Justice Center

350 E. Marion Avenue

P.O. Box 511687

Punta Gorda, FL 33951

1687

Phone:

(941) 637

2199

Email:

CasWeb@co.charlotte.fl.us

(1) Clerk Phone Directory

http://www.co.charlotte.fl.us/clrkinfo/contactUS/phoneDirectory.htm

Tax Deeds phone: (941) 637

2130

(2) Tax D eeds

http://www.co.charlotte.fl.us/clrkinfo/information/taxDeeds.htm

Remember, this is

a Buyer Beware

sale!

Arrive a few minutes before 9:00 a.m. at Room 3

E at the Justice

Center. The bidding for each property will start with the opening bid. There will be n

o questions answered

after the sale begins. All parties are asked to refrain from conversation while a sale is being conducted.

If you are the successful bidder, you must remain for the duration of the sale and then go to the second

floor Records Departme

nt for

the exact total you must pay.

Your bid amount and all fees for recording

your deed must be paid within 24 hours.

In accordance with Section 197.542(2), F.S., on all Tax Deed Applications made on or after October 1,

2001, the high bidder shall post

with the Clerk a non

refundable cash deposit of $200 at the time of the

sale to be applied to the sale price at the time of full payment.

Background Information on Sale of

Tax Certificates for Unpaid T

axes (Section 197.432, F.S.)

Taxes become delinquent

April 1st of each year. At that time, the Tax Collector begins prepa

ring the tax

certificate sale.

A tax certificate is sold for a

ll taxes not paid by June 1st.

A tax certificate is a

tax lien

against the property.

The certificate holder does not have any

rights to the prope

rty.

If no individual

purchases a certificate on a piece of property at the certificate sale, the County assumes the certificate.

There are two types of tax certif

icates: individual and County.

The owner or interested party may redeem

he certificate at any time by paying to the Tax Collector the delinquent taxes and interest ear

ned by the

certificate holder (Section 197.472, F.S.).

The tax certifica

te has a life of seven years (

Section 197.482,

F.S.)

Rogue Tax Sale Investor

237

If a certificate is not redeemed,

the certificate holder may force the issue by ma

king application for tax

deed.

A certificate must be two years old to be eligib

le for a Tax Deed application.

(For county held

certificates, the Board of County Commissioners makes

application for the Tax Dee

d.)

The application

process must begin

in the Tax Collector’s Office.

The Tax Collector prepares the necessary paperwork

(which includes the Tax Collector’s Certificate and a legal description of the property) and forw

ards it to

the Clerk’s Office.

The Cle

rk’s Office prepares the legal advertisement for the newspaper, the certified

mailing of notices of the pending sale, the civil process to be served by the Sheriff’s Office, the calculation

of the opening bid, answers questions from the public, and waits f

or the sa

le.

The owner or interested

party may redeem right up until the recording of the Tax Deed.

(3) Tax D eed Frequently Asked Questions

http://www.co.charlotte.fl.us/cl

rkinfo/information/taxDeedsFAQ.htm

What is a tax deed sale?

A tax deed sale is a public auction where real estate is sold to recover

delinquent property taxes. (This is governed by Chapter 197 of the Florida Statutes, and Administrative

Code 12D

13.060,

Florida Department of Revenue.)

Who conducts the tax deed sale?

A deputy clerk employed by the Clerk of the Circuit Court conducts

the sale or public auction in accordance with Section 197.502(5), F.S.

When and where are the tax deed sales held?

Tax Dee

d Sales are generally held every Tuesday and

Thursday

at 9:00 a.m. except holidays at the Charlotte County Justice Center in Punta Gorda.

Where can information about upcoming sales be obtained?

The Tax Deed Sales are advertised i

the Sarasota Herald Trib

une.

The Clerk of the Circuit Court is required by Florida Statutes to advertise

each sale once a week for four consecutive weeks prior to the

public auction (Section 197.512[1], F.S.)

You can purchase copies of the legal ads, which include the opening bid

s, from the Clerk of the Circuit

Court’s office at a cost of $1.00 per page.

What liens or encumbrances survive against a property after it is sold at a tax deed sale?

Governmental liens and judgments survive the issuance of a tax deed and are satisfied t

o the fullest

extent possible with any

overbid monies from the sale.

Governmental liens, not satisfied in full, survive

the issuance of a tax deed and wil

l remain against the property.

Records can be researched by clicking

here:

http://www.co.charlotte.fl.us/browser_detect_OR.htm

Can the property owners stop the property from being sold for taxes?

The property owner or

mortgage holder can redeem the property from the Tax Deed Sale by pay

ing the amounts owed to the

Tax Collector and the Clerk of the

Circuit Court.

The total redemption is collected in th

e office of the Tax

Collector.

(Many of the properties advertised for the sale will be redeemed and will not be auctioned.)

If I am the su

ccessful bidder at the sale, what do I need to do?

According to the office policy, as the

successful bidder you are asked to remain until the auction is complete and then report to the se

cond

floor Records Department.

You will be given a slip with the exac

t calculat

ions for the total amount due.

This total will include your bid amount and the

fees to record your Tax Deed.

The money must be brought

back to the Clerk of the Circuit Court’s Offic

e within 24 hours of the sale.

(Payment can be made by cash,

cert

ified funds or a personal check drawn on a local bank.)

What if I am the successful bidder and fail to return with the payment?

The property will be re

advertised one time, and must be scheduled for sale within 30 days.

Section 197.542(1), F.S. states:

“

The Clerk may refuse to recognize the bid of any person who has previously bid and refused, for any

reason, to honor such bid.” Therefore, those individuals would not be allowed to bid at any future Tax

Deed Sales.

Do I get a clear title with a tax deed?

All properties sold at a Tax Deed Sale qualify under

“buyer

beware

”

The purchase of a Tax Deed Sale does not warrant or guarant

ee clear and marketable title.

Note:

Most title companies require the property to go through a quiet title lawsuit for the prop

erty to be

able to have title insurance issued on property bought by Tax Deed Sale.

Rogue Tax Sale Investor

238

What are some things that I should know before the sale?

In order to participate in the bidding

process, you must arrive a few minutes prior to 10:00 a.m. You or your rep

resentative must be physically

present at the sale in order to bid on the property. It is highly recommended that you research the

properties prior to the sale day in order to understand what you are purchasing at the sale. (You should

research for liens

, zoning, restrictions, etc.)

If I am the successful bidder at a tax deed auction, am I entitled to immediate possession of the

propert y after a tax deed has been issued to me?

Section 197.542, F.S. states:

“Any person, firm,

corporation, or county that i

s the grantee of any Tax Deed under this law shall be entitled to the

immediate possession of th

e lands described in the Deed.

If demand for possession is refused, the

purchaser may apply to the Circuit Court for a Writ of Assistance upon five days’ notice

directed to the

person r

efusing to deliver possession.

Upon service of the responsive pleadings, if any, the matter shall

proceed as in c

hancery cases.

If the court finds for the applicant, an order shall be issued by the court

directing the Sheriff to pu

t the grantee in possession of the lands.”

How is the amount of the opening bid determined?

If the property is not homestead property, the

amount of the opening bid equals the total of unpaid taxes and interest, the Tax Collector’s administration

fees, th

e Clerk of the Circuit Court administration fees and expenditure fees required by the Florida

Statutes to bring the property to delinquent tax sale. If the property is homestead property, half of the

assessed value from the tax roll is added to the above a

mounts for the total opening bid.

How long does it take to receive the tax deed?

You should have your Tax Deed within 7 to 10 days

from the sale date.

Where can I obtain information regar ding the sale of tax certificates?

Tax c

ertificate information can

be obtained fr

om the Tax Collector’s Office.

The phone number for the Tax Collector is 941

743

1356 or

743

1354, or visit their website at

http://w

ww.cctaxcol.com

MIAMI

DADE COUNTY, FLORIDA

http://miamidade.gov

TAX COLLECTOR

http://www.miamidade.gov/taxcollector

(1) Contact Information

http://www.miamid

ade.gov/taxcollector/contact.asp

Fernando Casamayor

, Tax Collector

140 W. Flagler Street, Suite 1407

Miami, FL 33130

1575

Phone: (305) 375

5762

Email, Property Taxes:

proptax@miamidade.gov

Maresa

Cain,

Chief

Property Taxes Section

140 W. Flagler Street, Suite 1403

Phone: (305) 375

5452

Email:

mcain@miamidade.gov

Fax: (305) 375

4601

(2) Tax C ertificate Sales

–

General Information

http://www.miamidade.gov/taxcollector/property_tax_certificate_sales.asp

Beginning on or before June 1, the Tax Collector is required by law to hold a Tax Certificate Sale. The tax

certificate re

presents a lien on unpaid real estate properties. Interest accrues on the tax certificate from

June 1 until the taxes are paid. The amount of the certificate is the sum of the unpaid real estate tax and

the non

ad valorem assessments, penalties, advertisin

g costs and fees.

Rogue Tax Sale Investor

239

Exceptions:

Tax certificate

s are not sold on parcels with h

omestead exemption with taxes less than

$100.00

Tax Certificates are not knowingly sold on parcels involved in bankruptcy or litigation. If bankruptcy or

litigation occurs after

a certificate is issued, the court may determine the amount of interest to be paid.

Bankruptcy and litigation may extend the life of a certificate and places an automatic stay on the Tax

Deed Application process.

Tax Deed Applications:

Any time after two

years have elapsed since April 1 of the year of issuance of

the tax certificate and before the expiration of seven years from the date of issuance, the tax certificate

holder is entitled to submit a tax deed application. The tax deed application must be su

bmitted between

the 1st and 10th of the month with required documentation and payment.

Tax deed applications will not be accepted prior to April 1st on tax certificates issued as result of this sale.

The tax deed applicant must pay all fees and the cost

of the ownership and encumbrance report

pertaining to each tax deed application in accordance with Florida Statutes.

Transfer/assignments for tax deed applications must be submitted before the 10th of the previous month

to allow for processing and updat

e(s) to monthly reports.

The Applicant is not guaranteed title to the property. This will be determined by the Tax Deed Section of

the Miami

Dade Clerk of the Court

(

http://www.miami

dadeclerk.com/da

decoc

)

upon completion of the tax

deed foreclosure sale.

Reports:

There are three standard reports produced by the Public Access Unit. Two reports are specific

to the upcoming sale, and one report presents ongoing data:

Advertising file (upcoming sale c

ertificates)

Delinquent file (upcoming sale certificates)

Delinquent file (all certificates).

Ad hoc reports may be created depending upon time available and agreement on price. Anyone

requesting special programming should contact Public Access as soon a

s possible to determine a cost

and delivery estimate.

Reports are typically available in three to five working days. However, as the Tax Certificate Sale

approaches, the Public Access Unit may be able to shorten the production time to as little as one wor

king

day. To request a report, contact the Public Access Unit:

Requests by phone: (305) 596

8148

Requests by fax: (305) 596

8072.

Each report is available on CD for a price of $120. MasterCard, Visa, or checks are accepted; no cash,

please. Payment is ex

pected at the time of pickup, or prior to mailing.

Delivery options:

Reports may be picked up at our site (5680 SW 87th Avenue).

Delivery may be charged to the customer's FedEx account.

The Public Access Unit can arrange delivery at $20 for 2

day deliver

y, or $30 for priority overnight

delivery.

Rogue Tax Sale Investor

240

(3) Tax C ertificate Sales

–

General Information

http://www.miamidade.gov/taxcollector/property_tax_certificate_welc

ome.asp

Dear Tax Certificate Buyer,

Welcome to the 2007 Tax Certificate Sale. Building on the success of our three previous sales, Miami

Dade County will again conduct its annual tax sale via the Internet. Electronic bidding has increased the

speed and

efficiency of the tax certificate sale and the associated revenue collection. These funds are

distributed to the various taxing authorities and used to provide essential services that benefit our

communities.

The online tax auction was designed to ensure

fairness, while allowing for increased access and

competitiveness in the sale of tax certificates. Unlike an in

person sale, the electronic sale offers investors

the opportunity to access relevant property information and enter their bids directly on one

website.

This

year sale buyers in a bidder group wishing to transfer and consolidate certificate holdings under one

buyer number will be able to request the transfer and pay the appropriate fees electronica

lly using the

auction website.

Please take a momen

t to read through the auction procedures available here a

s well as

the auction website.

All bidders are required to complete a registration process online and post a deposit

in order to participate in the sale.

We appreciate your participation and hope yo

u become a successful bidder. Feel free to contact our

office at 305

375

1829, or e

mail us at

taxsale@miamidade.gov

with any questions.

)

2007

Tax Certificate Sale Information

http://www.miamidade.gov/taxcollector/property_tax_certificate_info.asp

Florida Statutes require the Tax Collector to conduct a sale of tax certificates on parcels on which taxes

are delinquent fo

r the

preceding

year on or before June 1 each year.

Delinquent real estate taxes are advertised in a local publication of general circulation once a week for

three consecutive (3) weeks be

fore the tax certificate sale.

Parcels with unpaid taxes as of Apr

il 1, 2007

will be advertised May 3, 10 and 17, 2007. The list will be available on this web site, the Miami

Daily

Business Review

web site at

www.dailybusinessreview.com

, as well as our auction web site

www.BidMiamiDade.com

Below is a list of electronic files that constitute the same list that is pub

lished in the local newspaper.

All

files require that you have Adobe Acrobat Re

ader installed on your PC;

free download of Adobe

Acrobat Reader is available

from

the software publisher.

Access times for these files will vary depending on your internet connection (cable, ISDN, DSL, or 56KB

modem), time of day (amount of internet traffic), internet servic

e pr

ovider, and other factors.

To test your

system, you may want to work with the smal

lest file first,

to get

an idea of the processing time,

before

working with the larger files.

When you click on the link, your system should start Adobe Acr

obat Reader and

open the file.

You should

be able to scroll through the file and, if you wish,

print.

You may also save the file to your system, but

remember that the process will require space on your system drive and may take a while.

For each delinquent tax parcel, th

e newspaper advertisement contains the sequential advertising number,

the 13

digit folio number, delinquent tax amount

and the property owner’s name.

To research the folio

mber, use the following formula

[see Rogue Investor note below]

Tax certificates

represent a first lien of real estate and bear interest at a maximum rate allowed by law of

18% unless th

e bidder demands a lower rate.

All purchases go to the bidder who will a

ccept the lowest

interest rate.

Upon redemption, the taxpayer pays the face am

ount of the certificate toget

her with any

accrued interest.

However, when a tax certificate is redeemed and the interest earned on the tax

certificate is less than 5% of the face amount of the certificate, then a mandatory charge of 5% is

collected when re

deeming the certificate.

Rogue Tax Sale Investor

241

In Florida, real estate taxes become a first lien on January 1 although they are due payable beginning

November 1 of that year. If these real estate taxes are not paid on or before March 31 of the following

year, they become delin

quent April 1.

If there are no bidders for the tax certificate, the certificate is struck off (issued) to Miami

Dade County

and is retained in possession of the Tax Collector. Also, a tax certificate representing less than $100.00 in

delinquent taxes on p

roperty that has been granted homestead exemption shall be struck off to Miami

Dade County

Any tax certificate stuck off to the county shall accrue interest at the maximum rate allowed

by law (18%).

County certificates, other than those relating to homes

tead real estate under $100.00, can be purchased

directly from Tax Collector. The certificates on homestead real estate under $100.00 can be purchased

from the county when the certificates and the accrued interest represent

an amount of $100.00 or more.

r each certificate purchased and each omitted year, the Tax Collector shall receive a fee of $6.25.

Payment must be made at the time of purchase for costs incurred.

Individual certificates issued are transferable by endorsement at any time before they are

redeemed or

tax deed is executed.

A tax certificate transfer form may be obtained fr

om the Tax Collector’s office.

The

assignment must be returned and recorded w

ith the Tax Collector’s office.

There is a fee of $2.25 for

each transfer.

If necessary, pr

ior to closing the 2007 Tax Certificate Sale, all County held certificates available after the

2007 Tax Certificate Sale batches close will be offered for purchase in one supplemental batch through

the Tax Collector’s auction website at

www.BidMiamiDade.com

. The supplemental sale will include items

advertised for the 2007 sale that were removed as paid and then subseque

ntly had the payment

canceled.

The list of available certificates will be posted one week prior

to th

e sale on the auction website.

All certificates will be offered in one b

atch at an interest rate of 18%;

if more than one purchaser wishes to

buy a particular county held certificate, the auction software will randomly assign the certificate when the

batch closes at 10:00 a.m. EDT. Payment for certificates shall be via ACH (Automated Clearinghouse)

and payment in full shall be due by 5:00 p.m. EDT the day of the sale.

Any tax certificate can be cancelled if errors, omissions o

r double assessments are

made.

An error in

assessment results in a change in the f

ace amount of the certificate.

In the event an error is discovered,

the tax certificate may be cancelled or corrected by the authorit

y of the Department of Revenue.

In this

case, the corrected porti

on or the cancellation shall earn interest at the rate of 8% per year, simple

interest, or the rate of interest bid at the certif

icate sale, whichever is less.

The interest is calculated from

the date the certificate was purchased until the date the refund

is ordered.

If, after purchase, a tax certificate becomes involved in a bankruptcy, it is the certificate holder’s

responsibility to seek legal counse

l to protect their investment.

During bankruptcy proceedings the court

may order the collection stayed u

ntil such time as the court enters a final order. While the bankruptcy

court generally upholds the validity of the tax certificate, in many cases the court may allow partial

payments over time and may reduce the interest rate payable to the certificate hol

der.

The issuance of a tax certificate on a parcel does not entitle the buyer to the property. The holder of a tax

certificate may not directly, through an agent, or otherwise initiate contact with the owner of property upon

which he or she holds a tax ce

rtificate to encourage or demand payment until two years have elapsed

since April 1 of the year of issuance of the tax certificate. The redemption of a tax certificate can only take

place at the Tax Collector's Office.

At any time after two years have ela

psed since April 1 of the year of issuance of the certificate and before

the expiration of the seven years from the date of issue, the individual certificate holder may submit a tax

deed application to the Tax Collector. Any certificate holder making appli

cation for a tax deed, shall pay

the Tax Collector an application fee, a title search fee and all amounts required for redemption or

purchase of all other outstanding tax certificates, interest, omitted taxes, and delinquent taxes relating to

the real esta

te. A parcel assessed as homestead property on the current tax roll will have the amount

equal to one

half of the current assessed value added to the opening bid. The tax deed is publicly

auctioned by the Clerk of the Court and issued to the highest bidder

. Pursuant to Florida Statutes 197.502

Rogue Tax Sale Investor

242

and 197.542, the tax deed applicant will be required to pay the one

half assessed value on homestead

property if there are no other bids in or to retain the tax deed.

ROGUE INVESTOR NOTE:

See web page

for the

formula

to research the folio number; and

to download

the following

files: Improvement Liens, Prior Year Taxes, Current Year Taxes

–

City of Miami, Current

Year Taxes

–

Muni’s 02

and

Current Year Taxes

–

Unincorporated Dade (1)

–

(3).

(

) Tax Certificate Sa

les Procedures

http://www.miamidade.gov/taxcollector/property_tax_certificate_procedures.asp

The Tax Certificate Sale is conducted

online as an Internet auction

The web address for the sale is

www.BidMiamiDade.com

. Bidders will be able to view the parcels and begin submitting bids once the

advertised lists of delinquent taxes are published in the Miami Daily Business

Review that is scheduled

for May 3, 2007.

The Miami

Dade County Tax Certificate Sale begins on June 1, 2007 at 8:00 a.m. EDT

Thereafter, the

tax sale will begin each business day until all tax certificate

s have been offered for sale.

Certificates will

sold individually and will be divided in batches of approximately 1,000 to 2,000 available for sale each

hour. Batches will close each hour from 9:00 a.m. EDT to 5:00 p.m. EDT.

Public access for computers to access the sale will be at the South Dade Gove

rnment Center, 2nd Floor

Conference Room, 10710 Southwest 211th Street, Miami, Florida. Bidders must call 305

375

1829 if they

require the use of a computer.

Registration:

All prospective buyers must be registered and be assigned a buyer number b

efore the

can enter any bids.

Buyer numbers are assigned after a prospective buyer completes the online

registration process and IRS Form W

9 at

www.BidMiamiDade.com

. Bidders who have been assigned a

buyer number for a

prior year’s sale will be assigned that same number provided all registration

information including name and taxpayer identification number remain the same as in the County’s

existing records; if not, a different buy

er number may be assigned.

Only one bidd

er number may be

assigned to each taxpayer identification number.

Foreign b

uyers must have an international taxpayer identification

number (ITIN) in order to bid.

IRS Form

7 must be completed and filed with the Internal Revenue Service in order to obtai

n an ITIN.

Deposit Requirement:

All bidders will be required to post a deposit prior to the sale that is equal to 10%

of their intended purchases with a minimum deposit of five thousand dollars ($5,000.00) require

Deposits must be submitted electronical

ly via Automated Clearinghouse (ACH) through

www.BidMiamiDade.com

Bidders will be limited to purchasing no more than 10 times any deposit

received by the Tax Collector.

Bidders will be allowed to increase their

deposit at any time prior to a batch

closing by submitting an add

itional deposit authorization.

Each distinct bidder number will be requir

ed to

post a separate deposit.

It is suggested that prospective bidders check with their financial institutions prior

to registering as not all accounts allow for the electronic transfer of funds through ACH.

Training:

Training is available to all bidders in seve

ral formats prior to the sale.

There is a self

demo and

daily trial auctions on

www.BidMiamiDade.com

A prospective bidder can send an e

mail to

lienauction@grantstreet.com

or call (800) 410

3445, extension 1, to schedule

a guided phone

demonstration.

Prospective bidd

ers needing access to computers may call the Miami

Dade County Tax

Collector at (305) 375

1829 to schedule use of a computer for training and registration prior to the sale

date.

Bidding Procedures:

In order to facilitate the online sale process, Miami

de County will be grouping

the tax sale into batches of approximately 1,000 to 2,000 certifi

cates per batch.

Each certificate in the

batch will be sold individually and in s

equential order as advertised.

The batches will be set based on the

publication of

the advert

ised list of delinquent taxes.

The batches will close hourly beginning at 9:00 a.m.

EDT and continuing until 5:00 p.m. EDT each business day un

til all certificates are sold.

After a batch is

closed, no new or changed bids will be accepted on cert

ificates contained within that batch. No

certificates will be sold out of sequence.

Rogue Tax Sale Investor

243

Bidders will be able to begin entering their bids into the system for all certificates and all batches

beginning the day that the advertised list of delinquent taxes is pu

blished in the newspaper, which is

currently scheduled for May 3, 2007.

Florida

law provides for a maximum interest rate of 18% and

a minimum of 0% (no interest).

Bids for each

parcel shall be accepted in even and in fractional increments of one

quarte

ercentage (¼%) points only.

If you wish to bid on a parcel, you must enter your minimum acceptable rate into the input cell

on the web

site and click the “Submit”

button

prior

to the close of the batch that contains that parcel.

The tax certificate is a l

ien issued to the lowest bidder who will pay the delinquent tax including interest,

cost of sale, advertising and tax

collector’s commission of 5%.

The entered bid is the minimum interest

rate the bidder is willing to accept on the certificate and not nece

ssarily the bid at which th

e certificate will

be awarded.

For example

if an entered bid is 4.5% and the next lowest bid is 5%, the certificate would be

awarded to the bidder with the entered bid of 4.5% but

at the winning rate of 4.75%.

The bid entered on

any certificate can be changed, and/or submitted bids can be withdrawn at any point until the batch

contain

ing the certificate is closed.

Only bids that are in “Submitted” status at the time of the batch closing

will be counted. Bidders will not be able t

o see competing bids.

Bid carefully. Bidder cancellations will not be allowed or accepted. All sales are final.

Immediately following the closing of each batch, bidders will be able to review the unofficial results of the

sale and see the winning bid and

bidder on each certificate contained within that batch.

Aw ard of Cert ificates:

After the online sale is completed, the Tax Collector will review the results and

balance the sale, confirming all payments have been received and removing any parcels that ma

y have

been err

oneously included in the sale.

Once the results have been verified by the Tax Collector, a final list

of certificates wil

l be available at the website.

Each winning bidder will receive an email when the list is

available, and will be able to

log back into the web site, review and print a copy of their purchased

certif

icates.

Upon conclusion of the Tax Certificate Sale, the Tax Collector will provide each bidder an

Official List Of Certificates awarded to them. The Official List will be signed

by the Tax Collector and

mailed to the bidders.

Bidders will be required to authorize payment in full electronically via ACH within forty

eight (48) hours

after notification

of the final results is sent.

Failure to make payment as required by the Tax Col

lector will

result in the canceling of certificates issued to the non

paying bidder and the offering of those certificates

for sale at a subsequent re

auction sale.

Returned or Canceled Payments

Electronic or ACH payments are conditional payments until h

onored

by the makers financial institution and must be avail

able for immediate withdrawal.

Miami

Dade County

Administrative Order 4

86 and Section 68.065, Florida Statutes provides that payment shall be canceled

and subject to a fee of five percent (5%) th

e amount of the

returned or canceled payment.

Returned or

canceled payments may result in the revocation of bidding privileges during the sale and/or a cancellation

of any certificates awarded.

Supplemental Sale

If necessary prior to closing the 2007 Tax

Certificate Sale, all County held

certificates available after the 2007 Tax Certificate Sale batches close will be offered for purchase in one

supplemental batch through the Tax Collector’s auction website at

w.BidMiamiDade.com

The

supplemental sale will include items advertised that were removed as paid and then subseque

ntly had the

payment canceled.

The list of available certificates will be posted one week prior to th

e sale on the

auction website.

All cert

ificates will be offered in one ba

tch at an interest rate of 18%;

if more than one

purchaser wishes to buy a particular county held certificate, the auction software will randomly assign the

certificate when the batch closes at 10:00 a.m. EDT

An electroni

c mail message will be sent notifying the

success

ful bidder of their purchases.

Payment for certificates shall be via ACH and payment in full shall

be due by 5:00 p.m. EDT

the day of the sale.

After payment is received and the supplemental sale is

balanced

the successful bidder will receive an Official Listing of Certificates Purchased signed by the Tax

Collector.

Rogue Tax Sale Investor

244

(

) Important Points to Remem ber

http://www.miamidad

e.gov/taxcollector/property_tax_certificate_points.asp

There are inherent risks involved in purchasing tax certifica

tes.

Miami

Dade County does not guarantee

the condition of any property

or title with respect thereto.

All risks are borne by the certific

ate holder.

Bid carefully, there will be no cancellations for bidder error, all sales are final

The lowest bid rate accepted and buyer number of the successful bidder will be entered into the tax

collection database.

Tax certificates are issued by elec

tronic listing rather than by individual document certificates.

Tax certificates accrue interest from the date of issuance.

Tax certi

ficates have a life of seven

years from the date of issuance.

The Miami

Dade Tax Collector’s Office has the right to c

ancel any tax certificate that is improperly issued

in accordance with Florida Statutes.

Tax payments will be accepted on advertised items at any

time prior to the beginning of the tax

certificate

sale on June 1, 2007

(

) Tax Certificate Sales

–

Frequen

tly Asked Questions

http://www.miamidade.gov/taxcollector/property_tax_certificate_faq.asp

What is an Internet auction?

An auction in which bids are transmitted and r

eceived through the Internet

using a computer and a web browser.

How is it different from an in

person tax sale?

Prior to the I

nternet sale, bidders congregated in a large

room and called out their bids to the auctioneer. An Internet sale allows this proc

ess to be handled

electronically. Each bidder will use a personal ID and

assword to log on to the website and enter bids for

individual tax certificates.

What equipment or software do I need to be able to participate?

A bidder must have Internet access

nd a web browser (recommended: Internet Explorer 5.0 or later version, Mozilla Firebird 0.7 or later, or

Netscape 7.1 or later). The Tax Collector will supply computers for training/bidding by appointment only.

Will it cost me anything to participate?

The

re i

s no actual cost to participate;

however

the Tax

Collector requires a minimum deposit of $5,000 or 10% of intended purchases, whichever is greater, to

be posted through the auction website.

Who will show me how to use the Internet system?

There are t

hree ways to learn how to use the

internet system prior to bidding:

Self Demo

–

Please click the Demo button on the Home page and follow the instructions. The

instructions are designed to lead users through the auction process.

Trial Auction

–

Please cli

ck the Trial Auction button on the Home page. The Trial Auction is a

simulation of a real auction, in which bidders practice bidding and, subsequently, viewing auction

results.

Guided Demo

–

Please send an e

mail to

lienauction@Grantstreet.com

or call (800) 410

3445,

extension 1, to receive a guided demo over the phone (which is available only after user

completes the Self Demo).

Rogue Tax Sale Investor

245

What are the advantages of an Internet tax sale:

If you are a bidder

asy access to underlying property and tax information from multiple public sources.

Bids can be submitted in the comfort and privacy of the user’s home or office.

An extended time frame during which the bidder can submit and review bids. A bidder does

not have

to worry about being “heard” by an auctioneer.

Unofficial results from an auction can be viewed immediately after the auction is over.

For

the Tax Collector?

Substantial savings of time and money.

Internet platform allows users to bid from any l

ocation with an Internet connection, which can help to

increase the number of bidders and the level of competition.

How do I get started?

assword.

Review the Self Demo, Trial Auction, and/or Guided D

emo.

Complete and submit online IRS Form W

Submit security deposit, as required.

What is a batch?

Batches are auction subgroups of the Advertised List that serve as a means of

organizing tax certificates for the purpose of facilitating bid submission.

Each tax certificate in each

atch

is auctioned independently of every other tax certificate and arranged in sequential order with a unique

auction closing time for each b

atch.

When are batches due?

Bids can be submitted on the web site once the Advertise

d List is published on

the Internet, usually in early May. Bids can be withdrawn or altered at any

point up to the closing of the

atch.

(

Tax Certificate Sales

–

Frequently Asked Questions

http://www.miamidade.gov/taxcollector/property_tax_certificate_faq_2.asp

What is proxy bidding?

It is a form of competitive sale in which bidders input the minimum interest rate

they are willing to accept for each certific

ate they would like to purchase. At the close of each batch, the

auction system, acting as an electronic agent for each bidder, compares minimum acceptable rates

entered by all bidders for each individual certificate. When there is more than one bidder, th

e final bids

consist of the minimum rates entered by all bidders except the winner, whose final bid will be equal to the

second lowest minimum rate minus 0.25%, unless there is a bid at 0%, in which case the winner will be

awarded at 0%.

In the case of a

tie at the winning bid rate, the system awards to one of the tie bidders through a random

selection process using a random number generator.

In no case will a bidder be awarded a certificate at a rate lower than his specified minimum acceptable

rate.

rtificates that receive no bids will be struck to the county at 18%.

What happens if the delinquent taxes are paid after my bid is submitted but before the batch

closes?

The tax Collector accepts payments through May 31, 2007

so it is possible that you

may have

entered a bid for an item that eventually is not offered for sale. The website is updated daily to reflect all

payments received. If the payment was received prior to the start of the sa

le, the certificate is canceled;

winning bids on certificates

for which taxes have been paid, either before or after a batch closes, will be

invalidated and winning bidders will receive a credit to the unused portion of their budget or a refund.

Rogue Tax Sale Investor

246

How do I submit my security deposit and pay for certificates purchase

All security deposits and

certificate purchases will be paid via ACH (Automated Clearinghouse) debit.

What is an ACH Debit?

An ACH debit is an electronic funds transfer from your bank account, initiated by

the Tax Collector with your prior authorizatio

n. For more information on ACH, please visit the NACHA, the

Electronic Payments Association at

www.nacha.org

Funds must be drawn from a U

financial institution. Some types of money market, brokerage, and/or

trust

accounts cannot accept ACH debits. Please check with your financial institution prior to initiating

payment on the web site.

When do b

idders have to pay the amount due for their purchases?

After the last batch closes, the

Tax Collector balances and revie

ws the results of the sale. The Tax Collector sends certified notice to

each buyer of awarded certificates on June 9th, 2006

Bidders have 48 hours from the mailing of that

notice to pay the remaining balance. Final payment must be authorized on BidMiamiDa

de.com by no later

than 5:00 p.m.

on June 13th.

Buyers are also sent an electronic version of the letter on the same date.

What happens if I f ail to pay the balance within the period indicated?

If payment is not received

within the specified time frame,

all certificates awarded will be canceled and offered for resale and deposit

is forfeited.

What happens to my deposit i f I don't win any c ertificates or if my deposit was more than I was

awarded?

In either case, any unused portion(s) of the deposit wil

l be refunded by chec

k or ACH to your

bank account.

Refunds sent via ACH should be received on or about June 22, 2006.

(

)

2006 Tax Certificate Sal e Results

tp://www.miamidade.gov/taxcollector/property_tax_certificate_sale_results.asp

The 2006 Tax Certificate Sale, which was conducted online for the third year in a

row, was a continuing

success.

The County sold over 36,000 tax certificates, collecting an e

stimated $162 million in delinquent

taxes. Conducting the auction online as opposed to a physical auction results in significant improvements

and savings that benefit the County and its taxpayers. The results of the 2006 Tax Certificate Sale are as

follows

The tax sale process was completed in only three days, compared to a month in 2003.

In the two years before the online sale, over 8,000 certificates remained unsold, resulting in

delayed revenues for taxing authorities and higher interest rates for deli

nquent taxpayers. In

2006, all available tax certificates were sold (for the third year in a row), and almost all of them at

the low interest rate of 0.25%, resulting in more than $162 million.

The number of buyers participating in the sale grew to 3,381 f

rom only 134 three years ago.

In years prior to the electronic tax certificate sale, delinquent tax revenues resulting from the sale

ere not distributed until July.

Sale revenues are now distributed a full month earlier.

The elimination of previous years’

auctioneer fees, room and equipment rental, staff time and

overhead resulted in a significant decrease in the cost of running the auction.

The electronic sale has proven a key component in the fulfillment of our mission to promote change and

performance

excellence.

BIDMIAMIDADE.COM

http://www.bidmiamidade.com

Tax certificate online auction website for Miami

Dade County.

For assistance, call Grant Street Group at 800

410

3445, Contact Auction Support

https://www.bidmiamidade.com/main?&unique_id=SAT9JAoBDwEAAEGV6SQ&session=&auction_id=&e

mail_admin_button=go

or vis

it the Tax Collector

's homepage at

http://www.miamidade.gov/taxcollector

Rogue Tax Sale Investor

247

(1) Introduction

https://www.bidmiamidade.com

, then click on “Introduction”

Learn more about t

he tax certificate sale.

(2) Frequently Asked Questions

https://www.bidmiamidade.com

, then click on “

FAQ

”

Frequently asked questions about the tax certificate sale.

)

Documentation

https://www.bidmiamidade.com

, then click on “

Documentation

”

News, notices, user instructions, and legal documents.

Information

News:

https://www.bidmiamidade.com/main?&unique_id=SAT8mwoBDwEAAH4tK10&session=&auction_id=&us

e_this=serve_document&document_id=120

Introduction:

https://www.bidmiamidade.com/main?&unique_id=SAT8mwoBDwEAAH4tK10&session=&auction_id=&vi

ew_introduction_button=Introduction&is_popup=1&focus=1

Instructions:

https://www.bidmiamidade.com/main?&unique_id=SAT8mwoBDwEAAH4tK10&session=&auction_id=&vi

ew_instruct

ions_button=Instructions&is_popup=1&focus=1

FAQ:

https://www.bidmiamidade.com/main?&unique_id=SAT8mwoBDwEAAH4tK

10&session=&auction_id=&vi

ew_faqs_button=FAQ&is_popup=1&focus=1

ROGUE INVESTOR NOTE

: See web page for

links to

legal documents (disclaimer, user agreement and

CLERK OF COURTS

http:

//www.miami

dadeclerk.com/dadecoc

Harvey Ruvin, Clerk

Miami

Dade County Courthouse

73 West Flagler Street, Suite # 242

Miami, Florida 33130

Phone: (305) 275

1155

(1) Contact Information

http://www.miami

dadeclerk.com/dadecoc/Contact_Us.asp

Clerk of Courts email:

recording@miamidade.gov

Tax Collector phone: (305) 270

4916

Mortgage/Foreclosure Department

Metro

Dade Flagler Building

0 West Flagler Street, Suite 1502

Miami, Florida 33130

Phone: (305) 375

5943

Website:

http://www.miami

dadeclerk.com/dadecoc/Mortgage.asp

Rogue Tax Sale Investor

248

(2) Tax D eeds Sales

http://www.miami

dadeclerk.com/tax

deeds/home.asp

140 W. Flagler Street, Room 908, Miami, Florida 33130

Effective October 1, 2001

, at time of sale a $200.00 non

efundable cash deposit will be required from the

ccessful bidder pursuant to

Florida Statute No.

197.542(2). The deposit shall be applied to the sale

price at time of full payment. F

ull payment will continue to be due, as described in the

statute, w

ithin 24

hours from time of sale.

isclaimer

: By using

this service, in any form, the user agrees to indemnify and hold harmless the Miami

Dade Clerk of Courts and anyone involved in storing, retrieving or displaying this information for any

damages of any type that may be caused by retrieving this

informatio

n over the Internet.

To review the

complete Miami

Dade County Disclaimer, follow this link:

http://miamidade.gov/info/disclaimer.asp

Tax deed sales lists:

May 8, 2008:

http://www.miami

dadeclerk.com/tax

deeds/tdsales.aspx?SaleDate=05/08/2008

April 24, 2008:

http://www

.miami

dadeclerk.com/tax

deeds/tdsales.aspx?SaleDate=04/24/2008

April 16, 2008:

http://www.miami

dadeclerk.com/tax

deeds/tdsales.aspx?SaleDate=04/16/2008

April 10

, 2008:

http://www.miami

dadeclerk.com/tax

deeds/tdsales.aspx?SaleDate=04/10/2008

March 20, 2008:

http://www.miami

dadeclerk.com/tax

deeds/tdsales.aspx?SaleDate=03/20/2008

March 12, 2008:

http://www.miami

dadeclerk.com/tax

deeds/tdsales.a

spx?SaleDate=03/12/2008

ROGUE INVESTOR NOTE

: The

May 8, 2008 and April 24, 2008 lists are available on the

dat

a CD that

accompanies this book (within the file folder “Tax Sale Lists”).

CITY OF JACKSONVILLE

DUVAL COUNTY

, FLORIDA

http://www.coj.net

DUVAL COUNTY TAX COL

LECTOR’S OFFICE

http://www.coj.net/Departments/Tax+Collector/Default.htm

Mike Hogan,

Tax Collector

231 E. Forsyth St

reet

Jackso

nville, FL 32202

Phone:

(904)630

1916

Email:

http://www.coj.net/Departments/Tax+Collector/Contact+Us/

(1) Contact

Information

http:

//apps.coj.net/TC_ContactUs

ROGUE INVESTOR NOTE

: Click on link to send an email related to “Delinquent tax bill or tax certificates”

or “Tax certificate sale.”

(

) Dates to Remember

http://www.coj.net/Departments/Tax+Collector/Dates+to+Remember.htm

May:

(1)

ist of delinquent taxes advertised in

local newspaper one time, (2) l

ist of delinquent real estate

taxes advertised once per week for three consecutive weeks prio

r to tax certificate sale in a local

newspaper.

June:

Tax certificate sale for delinquent real estate taxes begins on or before June 1st.

Rogue Tax Sale Investor

249

(3) Tax Sale Guidelines and Procedures

http://www.coj.net/Departments/Tax+Collector/Tax+Sale+Guidelines.htm

Welcome to the Duval County Tax Certificate Sale Guideline page. The annual tax certificate sale is a

public sale of tax liens on delinquent real property taxes. All procedu

res of this tax sale are in accordance

with Florida Statutes. The site of this year's tax sale is:

http://duval.taxsale.com

To participate in this sale you must register at this web site. In order to purchase ce

rtificates, you must

also place a deposit pursuant to the procedures defined. Please remember, you are not bidding in order

to purchase the property. A tax certificate is only a lien on the property. It does not convey title to the land.

Tax

ertificates s

old through this tax sale must be held two years before a tax deed application can be

submitted. Bidding is based upon the amount of annual interest to be earned by the certificate buyer.

A tax certificate may be cancelled if it is learned after the sale

that a pre

existing stay order from the

Bankruptcy Court was in effect on June 1. In that case, amount paid for the cert

ificate will be refunded.

the event of a bankruptcy proceeding initiated after the sale of the lien, there are no guarantees

–

the

nited States Bankruptcy Court judge will determine the amount, if any, the certificate holder will receive.

Although this is an excellent investment and problems are rare, the best attitude for any investor is always

"buyer beware." All certificates will

be sold online on June 1. Certificates will be awarded to the bidder

willing to accept the lowest rate of interest on the investment. If there are multiple bids for the same

lowest rate, the winner will be selected through a random, computer

generated pro

cess. Place your bids

very carefully. It will be the bidders' responsibility to ensure the parcels on which they have bids are the

ones wanted. Once a certificate has been awarded, it will not be cancelled due to an error, or change of

mind, by the bidder.

The bidder will be required to pay for all the certificates they have won.

Full payment for the tax certificates awarded, less the amount held on deposit, must be made within

hours of the auction close.

Payment must be made by wire transfer in the sa

me manner that you made

your deposit.

Pursuant to Florida law if a bidder fails to pay the amount due all bids for that bidder will be cancelled and

the bidder's deposit will be forfeited.

Procedures

Bidder Registration:

The Duval County Tax Collector'

s Office is required by the Internal Revenue

Service to obtain the tax identification number and a completed W

9 form at the time each buyer registers

as a bidder. For individuals, the tax identification number (TIN) is the Social Security Number (SSN). Th

individual registering must be the actual "owner" of the SSN. (It cannot be a child's name with the parents

SSN). For most "non

individuals" (i.e., trust, estates, partnerships, and similar entities), the tax

identification number (TIN) is the Employer I

dentification Number (EIN) for the organization.

Please make sure the TIN you use on the Bidder Information form matches the name shown on your

social security card or Employer Identification form. Annually we send 1099's

–

Interest Income Tax

Statements

to the registered bidder and the Internal Revenue Service. The information is reported for the

name and TIN used at registration.

Deposits:

Bidders must place funds on deposit in order to participate in the tax sale. A deposit in the

amount of 10% of th

e total value of certificates you wish to purchase must be received by the dates

tated on the tax sale website.

For example, if you wish to purchase $150,000 worth of tax certificates,

you must place $15,000 on deposit. You will be able to place your depo

sit by wiring the money from your

financial institution. You will need to plan early and have your deposit posted according to the instructions

on the sale site. If you do not have the funds on deposit you will not be awarded any tax certificates, even

tho

ugh you may have bid on them. If you place $10,000 on deposit you may be awarded up to $100,000

worth of certificates. If you win $100,000 in certificates any bids you placed on other certificates will not

be considered. To ensure sufficient time to proces

s them, the deadline for placing deposits will be s

everal

days prior to June 1.

Check the procedures on this web site for instructions to place a deposit.

Rogue Tax Sale Investor

250

Tax Certificate Sale Online and Proxy Bidding:

Bidders will be able to register online and then bid

from

any computer that has access to the internet.

Simply go to

http://duval.taxsale.com

ready to go.

We will also have computers available in the library as well as our main office that we can

make available to bidders. Simply call 904

630

1916, press option four, and make an appointment or

send a request to the following e

mail address:

taxjax@coj.net

The online tax certificate sale uses the concept of

proxy bidding. Proxy bidding may be a new term to

many of you but in fact it has been around for quite some time. The popular auction website, eBay, has

used proxy bidding to determine the winner of their auctions.

How does proxy

bidding work? In a live a

uction, a bidder will lower his bid by quarter percent increments

until he is the only bidder left or until the interest goes below his acceptable minimum level, at which point

he would drop out. Proxy bidding is a form of competitive sale in which bidders

enter the minimum

interest rate that they are willing to accept for each certificate. The auction system acts as an electronic

agent, submitting bids on behalf of each bidder. The result of the proxy system is that the electronic agent

keeps lowering the

bid to submit by quarter percent increments until you

are either the only bidder left

(in

which case you get the certificate at a quarter percent lower than the previous bid)

or until you reach the

floor you have set.

However, please note that zero perc

ent bids are not treated as proxy b

ids; they are awarded at zero.

you are the only bidder on a given certificate and your minimum rate is greater than zero percent, the

electronic agent will submit a bid of 18 percent on your behalf. In the case of a ti

e at the winning bid rate,

the system awards to one of the tie bidders through a random selection process using a random number

generator. In no case will a bidder be awarded a certificate at a rate lower than his specified minimum

acceptable rate. Certifi

cates that receive no bids will be awarde

d to the county at 18 percent.

In addition,

certificates valued at less than $100 with homestead exemption are awarded to the county and are not

available to individual certificate holders.

Amount of Purchase:

The

amounts printed in the newspaper and listed on this web site represent the

certificate amount, which includes the unpaid taxes, assessments, and related costs and charges in

accordance with Chapter 197, Florida Statutes.

Payment for Certifi ca t es:

The tot

al purchase amount less the deposit must be paid within 48 hour

s of

the close of the auction.

The exact date and time will be posted on the sale site. Upon full payment of the

purchased tax certificates, the certificate holder will be issued a receipt that

indicates the tax certificate

number, the amount of each certificate purchased, the property identification number and percentage bid.

All sales are final

. Pursuant to Chapter 197.432(6), Florida Statutes, if a person to whom a tax

certificate(s) have b

een sold fails to pay the amount due the tax collector will cancel all bids and the

bidder's deposit will be forfeited.

Certificate holders cannot contact property owners.

The holder of a tax certificate may not directly,

through an agent, or otherwise i

nitiate contact with the owner of property upon which he or she holds a

tax certificate to encourage or demand payment until two years have elapsed since April 1 of the year of

issuance of the tax certificate.

Any holder of a tax certificate who, prior to

the date two years after April 1 of the year of issuance of the

tax certificate, initiates, or whose agent initiates, contact with the property owner upon which he or she

holds a certificate encouraging or demanding payment may be barred by the tax collec

tor from bidding at

a tax certificate sale. Unfair or deceptive contact by the holder of a tax certificate to a property owner to

obtain payment is an unfair and deceptive trade practice, as referenced in s. 501.204 (1), regardless of

whether the tax certi

ficate is redeemed. Such unfair or deceptive contact is actionable under ss.

501.2075

501.211. If the property owner later redeems the certificate in reliance on the deceptive or

unfair practice, the unfair or deceptive contact is actionable under applicab

le laws prohibiting fraud.

Tax Deed Process

For an investor to obtain a Tax Deed to the property the investor must hold the tax lien certificate for a

minimum of two (2) years from April 1 the year the certificate was first issued. The selling of a tax d

eed by

Rogue Tax Sale Investor

251

the Duval County Clerk of Circuit Court will result in issuance of a tax deed from a property owner to a tax

deed applicant or the highest bidder for the deed.

As an example, a 2005 tax certificate purchased at the tax certificate sale on June 1,

2006, would have to

be held until April 1, 2008, before the certificate holder could apply to bring the property to a tax deed

sale.

Please note:

A Tax Deed is no

t the same as a warranty deed.

It is the certificate holder's responsibility to

ensure the

egal status of the property.

Likewise if it is determined that the process of "quieting title" would

need to be done, it is the certificate holder's responsibility to complete it and pay any associated fees.

Redemption of a Tax Cer tificate:

Chapter 197.47

2(1), Florida Statutes states the following:

"Any person

may redeem a tax certificate or purchase a county

held certificate at any time after the certificate is issued

and before a tax deed is issued or the property is placed on the list of lands available

for sale. The person

redeeming or purchasing a tax certificate shall pay to the tax collector in the county where the land is

situated the face amount of the certificate or the part thereof that the part or interest purchased or

redeemed bears to the whol

e. Upon purchase or redemption being made, the person shall pay all taxes,

interest, costs, charges, and omitted taxes, if any, as provided by law upon the part or parts of the

certificate so purchased or redeemed."

Should the tax certificate be redeemed

any time prior to the issuance of a tax deed, the investor will

receive a refund for the purchase amount, plus the rate of interest bid at the time of the sale.

Expiration of Tax Lie ns:

Chapter 197.482(1), Florida Statues states the following: "Aft

er the expiration of

7 years from the date of issuance, which is the date of the first day of the tax certificate sale as advertised

under s. 197.432, of a tax certificate, if a tax deed has not been applied for on the property covered by the

certificate,

and no other administrative or legal proceeding has existed of record, the tax certificate is null

and void, and the tax collector shall cancel the tax certificate, noting the date of the cancellation of the tax

certificate upon all appropriate records in

his or her office."

(4) 2007

Certificate Sale

http://www.coj.net/Departments/Tax+Collector/2005+Certificate+Sale.htm

The 2007 Duval County Tax Cert

ificate Sale will

be conducted o

nline Friday, June 1, 2007

The Duval

County tax certificate sale can be

found online at the following w

eb address:

http://duval.taxsale.com

lease note:

This site will be available through June 200

)

This w

eb site has all of the inform

ation you need to participate. The auction w

eb site contains many

research features that have not been provided in prior tax sales.

If you would like detailed information and law references pertaining to the Tax S

ale process, please ref

to the Tax Sale Guidelines at

http://www.coj.net/Departments/Tax+Collector/Tax+Sale+Guidelines.htm

(5) Advertising List

http://www.coj.net/Departments/Tax+Collector/Advertising+List.htm

The download file lists those properties that remain unpaid as of April 1st of the current tax year and are

advertised in accor

dance with Florida Statutes. This file contains Real Estate Numbers, Property

Descriptions and Tax Amounts (

ee file layout below).

Note: This file is made available for informational purposes only. Any decision to purchase delinquent tax

certificates sh

ould involve research in our Tax Department.

* This file has been updated as of May 17, 2007

ROGUE INVESTOR NOTE

: See web page for link to download advertising list, and for file layout

information.

The list

is available on the

dat

a CD that accompanies

this book (within the file folder “Tax

Sale Lists”).

Rogue Tax Sale Investor

252

) Duval County Tax Deed Application Listing

http://tc.coj.net/deed

The Real Estate Department for the Duval County Tax Collector is implementing a new procedu

re for

certificate holders that are filing tax deed applications. Effective immediately, certificate holders will do

their own research for delinquent taxes. This information is provided on the Internet at address

http

://www.coj.net/tc

. This will show how many tax certificates are outstanding, the certificate holder's

name and the amount due. The web site will also show if the property is homesteaded or not. Certificate

holders may apply on 50 properties per TIN/SSN at

one time. Once the certificate holder decides which

certificates are going to be applied on

, you can start here

to fill in certificate/real estate numbers to get the

amount to apply for tax deed. The list, certified check, and all applications must be rec

eived in our office

by the 1st of the month. If received after the 1st of the month the figures and certified check will have to

be resubmitted for the following month. Each application must be complete with the legal description, no

exception. If the cert

ificate holder does not have the complete legal for each property a listing of all

certificates can be purchased at the cost of $5.00 per TIN/SSN. This list will provide the legal for each

certificate. Homestead properties must be listed on a separate shee

t than properties that are not

homesteaded. Properties that are homesteaded should not be included in the 50 properties that are being

applied on.

(7) Tax D eed Application Help

http://tc.coj.net/dee

d/Deed_App_Help.htm

(8) Delinquent Real Estate Taxes

http://www.coj.net/Departments/Tax+Collector/Delinquent+Real+Estate+Taxes.htm

Real estate taxes become

delinquent on April 1st each year. Florida Statutes require the Tax Collector to

advertise

(

http://www.coj.net/Departments/Tax+Collector/Advertising+List.htm

)

the delinquent

parcels in a

local newspaper once a week for three consecutive weeks following the payment deadline. Advertising

and collection fees are added to the delinquent taxpayer's bill.

Beginning on or before June 1st, the Tax Collector is required by law to hol

d a Tax Certificate Sale. The

certificates represent liens on all unpaid real estate properties. The sale allows citizens to buy certificates

by paying off the owed tax debt. The sale is conducted in reverse auction style with participants bidding

downward

on interest rates starting at 18%. The certificate is awarded to the lowest bidder.

A tax certificate, when purchased, becomes an enforceable first lien against the real estate. The

certificate holder is actually paying the taxes for a property owner in

exchange for a competitive bid rate

of return on his investment. In order to remove the lien, the property owner must pay the Tax Collector all

delinquent taxes plus accrued interest, penalties and advertising fees. The Tax Collector then notifies the

cer

tificate holder of any certificates redeemed and a refund check is then issued to the certificate holder.

A tax certificate is valid for seven y

ears from the date of issuance.

The holder may apply for a tax deed

(

tp://tc.coj.net/deed

)

when two or more years have elapsed since the date of delinquency. If the

property owner fails to pay the tax debt, the property tax deed is sold at public auction.

CLERK OF COURTS

http://www.duvalclerk.com/ccWebsite

(

) Office Locations

http://www.duvalclerk.com/ccWebsite/clerkOfficeLocations.page

Duval County Courthouse

330 East Bay Street

Jackson

ville, Florida 32202

Phone, Tax Deeds:

(904) 630

2059

Rogue Tax Sale Investor

253

(

) Tax Dee ds

http://www.duvalclerk.com/ccWebsite/TaxDeeds.department

General Information:

The Clerk of the Circuit Court i

s responsible for conducting Tax Deed Sales and

issuing a Tax Deed from the City of Jacksonville/County of Duval to the successful high bidder at a sale.

Chapter 197 of the Florida Statutes governs this.

If you have a question or would like more informati

on, please consult the section on Tax Deed Auctions

(below) or contact the Tax Deed Department. Our contact information may be found at the end of this

page.

Tax Deed Auctions Information

Tax Deed Auctions are held in Courtroom "A" (room 104) on the firs

floor of the Duval County Courthouse, and begin promptly at 9:00 a

m. The Clerk's Office will advertise

the date for the Tax Deed Auctions in the Financial News and Daily Record. We will also post the date in

the Tax Deeds Office and on this website.

"Tax Deed" is a deed issued by the City of Jacksonville/County of Duval due to a property owner's

failure to pay their real estate taxes. This will result in the property owner forfeiting all right by default.

The City of Jacksonville/County of Duval doe

s not guarantee the title to these properties. The deed will be

subject to current taxes due. All properties are sold buyer beware. Please note that it is the bidder's

responsibility to search the title for any liens that may be recorded against the proper

ty. Governmental

liens and judgments will survive the Tax Deed sale. Quiet title suits are civil law suits and are not handled

by the Tax Deeds Department. Tax Deed files may not be viewed on the day of the Tax Deed auction.

Tax Deed Auction Participation

If you wish to participate in the auction, you must furnish a picture ID

(driver's license) for admission to the courtroom. A numbered bid paddle will be assigned to you and must

be returned upon leaving the sale. As you announce your bid, hold up your p

addle (number facing the

auctioneer) so our staff can identify each bidder and record their bid amount. Only audible bids will be

accepted and the clerk will acknowledge the higher bid. Your bid must be at least $100.00 higher than the

previous bid to be a

ccepted.

The 2001 Legislature amended the Florida Statutes governing Tax Deed sales (Chapter 2001

201, Laws

of Florida, Section 197.502 and 197.512). Therefore, effective January 2002, a $200.00 non

refundable

cash deposit for each high bid will be requir

ed at the time of sale to be applied at the time of full payment.

Successful bidders are required to make payment to the Clerk of the Court in cash or cashier's check

within 24

hours of the auction. Failure to do so will result in being banned from partici

pation in any future

auctions and forfeiture of your deposit.

For each parcel you buy, we will need cash or two cashier's checks, both made payable to Jim Fuller,

Clerk of the Circuit Court, one in the amount of the Documentary Stamps and Recording, and t

he other in

the amount of the high bid less the $200.00 deposit.

Property Appraiser’s Office:

The Internet address of the Property Appraiser is

http://pawww.coj.net/pub/property

. Copies from the public re

cords are available at a cost of $1.00 per

page.

Other Information:

Refer to Chapter 197 of the Florida Statutes for more detailed information on Tax

Deed procedures. The statutes can be found in the Law Library on the first floor of the Courthouse.

The

auction list is not available via the Internet. To obtain a copy of the current Tax Deed Auction list,

please contact the Tax Deed Department.

Office Information:

Our offices are open from 8:00

5:00

, Monday thru Friday excluding holidays, an

d are located

at:

Duval County Courthouse

330 E. Bay St

reet, Room 304

Jacksonville, FL 32202

hone:

(904)

630

2059

Rogue Tax Sale Investor

254

HERNANDO COUNTY, FLORIDA

http://www.co.hernando.fl.us

TAX COLLECTOR

http://www.hernandocounty.us/tc

Juanita Sikes, Tax Collector

Email:

tc@co.hernando.fl.us

(

) Offices

http://www.hernandocounty.us/tc/office_hours_and_locations.htm

Hernando County Government Center

20 North Main Street,

Room 112

Brooksville, FL 34601

Phone:

(352) 754

4180

Fax: (352) 754

4189

)

Online Tax Sale

http://www.hernandotaxsale.com

ROGUE INVESTOR NOTE

: The Hernando County tax sale is conducted on the Internet by Real Auction

(see Internet Auction Information at the end of the Florida section). Visit this website for Bidding Rules,

Training

, Start Here, Registering, and Previewing Items for Sale. Note: The 2007 auction has ended. The

list for the 2008 tax certificate auction will be available early in May of 2008.

(3) County Held Certificates

http://www.hernandocounty.us/reports/BIDCERAUTO.TXT

ROGUE INVESTOR NOTE

: The list is available on the data CD that accompa

nies this book (within the

file folder “Tax Sale Lists”).

CLERK OF THE CIRCUIT COURT

http://www.clerk.co.hernando.fl.us

Karen Nicolai, County Clerk

(1) Locations and Phone Numbers

http://www.clerk.co.hernando.fl.us/other/Locations.html

Hernando County Courthouse

20 N. Main Street

Brooksville, Florida 34601

Phone: (352) 754

4201

Fax: (352) 754

4247

(2) Contact Information

http://www.clerk.co.hernando.fl.us/contact.asp

Tax

Deed Sales (within Records Management Department)

Room 215

Debby Ellinghuysen

Phone:

(352) 540

6768

Fax: (352) 754

4243

Email:

debbye@co.hernando.fl.us

Rogue Tax Sale Investor

255

(3)

Tax Deed Sales

http://www.clerk.co.hernando.fl.us/Other/Recording.html#taxdeed

161 E.

Jefferson Street (across the street from the Courthouse)

Phone: (352) 540

6782 or 6768.

Please not

e the mailing address is: 20 N.

Mai

n Street,

Room

215, Brooksville, FL 34601.

If you own property in Hernando County, you must pay taxes each year. Ad valorem taxes are levied by

the Board of County Commissioners, the Hernando County School Board, Southwest Florida Water

Management Distr

ict and other applicable special districts. The Property Appraiser determines the value

of your property against which the taxes are levied and collected by the Tax Collector. If you do not pay

your property taxes by the established deadline, they become d

elinquent. In order for the Tax Collector to

collect the monies due for the delinquent taxes, Tax Certificates are sold.

The manner in which delinquent taxes are collected is prescribed by Florida Statutes (Chapter 197) and is

briefly described as follow

Hernando County real estate taxes are due each year November 1, payable through March 31 of the

following year, with discounts allowed for early payments and a 3% penalty imposed beginning April 1.

Items remaining unpaid by Mid

April are advertised in

the local newspaper for three consecutive weeks in

May in an effort to notify the property owners of outstanding tax liability.

According to Florida Statutes, on or before the first day of June each year a Tax Certificate sale must be

held. This is a publ

ic auction where a Tax Certificate is sold to the party who will pay the property owners

tax and accept the lowest interest rate when redemption is made. A certificate is an interest

bearing lien

and the interest rate varies from 0% to 18%. Certificates ar

e sold on any items remaining unpaid at the

time of the sale. Once a certificate is sold, the property owners may redeem the certificate by payment of

taxes plus penalty, advertising, fees and interest. If the certificate is not redeemed within a two

year

time

period, the certificate holder may begin proceedings for a Tax Deed Sale.

Upon application for a Tax Deed by the certificate holder, a tax and title search is done by an abstract

company to determine if there are any other outstanding taxes on the pr

operty. If there are, the applicant

pays these and they become part of the starting bid at the actual Tax Deed sale. Once the search is

completed, certification is made to the Clerk of Circuit Court and the application is delivered to the Clerk.

The proper

ty is then advertised for four consecutive weeks prior to the Tax Deed sale with the applicant

paying the advertising cost as part of the opening bid.

When the Clerk receives the application for Tax Deed from the Tax Collector, the Clerk’s Office will not

ify

by mail the owner of the property and all interested lien holders of record that the property will be sold at

public auction to the highest bidder unless the taxes, plus any applicable fees, are paid before the sale.

The minimum bid will include all de

linquent and current taxes due, plus all monies paid by the certificate

holder with interest and applicable fees due to the Clerk for performing the sale.

Each time a Tax Deed Sale is scheduled, the Tax Deed Clerk prepares a “Sale List.” The list includes

information pertaining to the minimum starting bid, the assessed value of the property, the legal

description and the last known titleholder of record. The "Sale List" can be viewed, and/or printed for free,

by logging onto the Clerk's Website at

www.clerk.co.hernando.fl.us

;

look at the right

side of the web page

for "Online Services" section and select the "Tax Deed Sale List." The "Sale List" may also be purchased

from the Clerk's office. To receive a c

opy of any “Tax Deed Sale List” from the Clerk's Office, a fee of $.15

cents per page (plus postage) must be paid in advance.

The tax deed sale is held by the Clerk of the Circuit Court in the BCC Chambers, 1st floor at the

Government Center on the third

Monday of the month (unless it falls on a holiday

then it would be the

ing Monday) and is open to the p

ublic. The property is a

uctioned to the highest bidder.

Purchase

price is payable at the Clerk’s Office upon completion of this sale, payable by

cashier’s check, money

order or cash. If full payment is not received upo

n completion of the sale, a non

refundable deposit of

$200.00 is required. The remaining balance

must

be received within 24 hours of sale. There

are no

exceptions!

No personal checks

are accepted for the bid amount.

Rogue Tax Sale Investor

256

A Tax Deed is a deed from the County to the highest bidder, issued for non

payment of real estate taxes

by the property owner who forfeits all rights to the property by this default.

When considering tax deed properties

, please be advised that

all properties are sold “buyer beware.”

Addresses of the property are not provided.

Maps reflecting the legal description of property to be sold:

(

a) Subdivision plat maps are available online at the Clerk's Website at

www.clerk.co.hernando.fl.us

nder "Search our online records,”

then select "Plats")

They are also available for viewing and/or

purchase in the Clerk's Off

ice, Recording Division (161 E.

Jefferson Street

cro

the street from the

Court House

). These descriptions are identified by a Subdivision name, Block number and Lot number.

(

b) Acreage Maps (Metes and Bounds Legal Descriptions: Section, Township, Range) maps are available

in the Property A

ppraiser’s offi

ce and on their w

ebsite at

www.hernando.floridapa.com

Governmental liens and

judgments survive the issuance of the Tax Deed and may be fully or partially

satisfied with any overbid monies from the sale.

Liens of governmental units not satisfied in full survive

the issuance of the Tax Deed. Should you have any questions concerning what liens

and

judgments

survive the Tax Deed sale, consult an attorney, we cannot advise you. Tax Deeds are not clear titles.

Quiet title suits to cle

ar the title of properties are civil l

aw suits and are not handled by the Tax Deed

Clerk. Information on this procedure and costs would be available from an Attorney that handles these

lawsuits.

A property that does not sell at th

e Tax Deed Sale is placed on the "List of Lands Available for Taxes."

After ninety days from the sale date, anyone can purchase property off the "List of Lands Available for

Taxes." To purchase property from the "List of Lands Available for Taxes," one wou

ld pay the redemption

amount plus any taxes that accrue from the date of the sale. Any properties placed on this "List of Lands

Available for Taxes" that are not purchased within seven years from the date they are placed on the list of

lands will escheat t

o the county after seven years (or three years, if the certificate was issued after July 1,

1999).

The “List of Lands Available for Taxes” includes the following information: Clerk File Number; Certificate

Number; Property Description and Key Number; Amo

unt to Redeem (excluding accrued taxes and

additional interest due to the certificate holder); Deed to Hernando County If Not Sold By Date; Date and

Type of Disposition. The "List of Lands Available for Taxes" can be viewed, and/or copied for free, by

logg

ing onto the Clerk's Website at

www.clerk.co.hernando.fl.us

ook on the right

side of the web page

for "online services

;

" below that you will find the link to the "List of Lands Available for Taxes." If

you wish

to receive a copy of this list, a fee of $.15 per page plus postage must be paid in advance. The fee can

also be charged to a pre

established escrow account.

(

)

Tax Deed Sale List

and List of Lands Available for Taxes

http://www.clerk.co.hernando.fl.us/Disclaimer_TaxDeedSales.asp

Tax Deed Sale Lists

January 2008

No Sale

February 1, 2008

http://www.clerk.co.hernando.fl.us/reports/February08.pdf

March 2008

No Sale

April 2008

No Sale

May 2, 2008

http://www.clerk.co.hernando.fl.us/reports/May08.pdf

June 6, 2008

http://www.clerk.co.hernando.fl.us/reports/June08.pdf

List of Lands Available for Taxes

February 25, 2008:

http

://www.clerk.co.hernando.fl.us/reports/LOLFEB.pdf

Rogue Tax Sale Investor

257

ROGUE INVESTOR NOTE

Visitor must accept the disclaimer before proceeding to the tax deed sale list.

The May 2 and June 6, 2008 tax deed lists, and the February 25, 2008 lands available for taxes list ar

available on the dat

a CD that accompanies this book (within the file folder “Tax Sale Lists”).

(

) Tax Dee d Division Frequently Asked Questions

http://www.clerk.co.hernan

do.fl.us/Other/RecordingFAQ.html#taxdeed

What is the date, time and location of the next tax deed sale?

The tax deed sale is held by the Clerk

of the Circuit Court in the BCC Chambers, 1st floor of the G

overnment Center on the third

nday

of the

month (

unless it falls on a holiday then it would be the following Monday) and is open to the Public. The

property is

auctioned to the highest bidder.

Purchase

price is payable at the Clerk’

s Office upon

completion of

this sale, payable by cashier’

s check, money

order or cash. If full payment is not received

upo

n completion of the sale, a non

refundable deposit of $200.00 is required. The remaining balance

must

be received within 24 hours of sale. There

are no exceptions

! No personal checks are accepted for

the bi

d amount.

When and where do you advertise t he sale?

The property is advertised for four consecutive weeks

prior to the Tax Deed Sale. Currently we are advertising in the Hernando Section of the St. Petersburg

Times.

Can you send me a “sale list” of pro

perties that will be available?

The "Sale List" can be viewed on

the Clerk’s Website at

www.clerk.co.hernando.fl.us

;

look at the right

side of w

eb page for "online

services”;

under online services, select

"tax deed sale list." To receive a copy

of any ""Tax Deed Sale

List,”

a fee of $.15 cents per page (plus postage) must be paid in advance.

What form of payment do you accept?

Purchase price is payable at the Clerk’s Office upon completion

of the sale, p

ayable by cashier’s check, money order or cash. If full payment is not received upo

completion of the sale, a non

refundable cash deposit of $200.00 is required. The remaining balance

must be received within 24 hours of the sale. If the purchaser does not

return with

in the 24

hour period,

the $200.00 deposit is forfeited.

Can I bid without attending

No, the Tax Deed Sale is open to the public and is auctioned (a public

outcry) to the highest bidder. You

must

be present at the sale in order to bid.

I end up with a property, who handles the quiet title process?

Tax Deeds are not clear titles. Quiet

title suits to clear the title of properties are Civil lawsuits and are not handled by the Tax Deed Clerk.

Information on this procedure and costs would be

available from an

ttorney that handles these types of

legal proceedings.

What happens to the properties that are not sold at the auction?

A property that does not sell at the

Tax Deed Sale is placed on the "List of Lands Available for Taxes." After 90

(ninety) days from the sale

date, anyone can purchase property off the "List of Lands Available for Taxes." This applies only if it is a

Hernando County

held c

ertif

icate. If not a Hernando County

held c

ertificate, and there are no bids, it is

sold to Appli

cant/Certificate holder.

What happens to liens that are against the property when sold at a tax deed sale?

Governmental

liens and judgments survive the issuance of the Tax Deed and may be fully or partially satisfied with any

overbid monies from the sale

. Liens of government units, not satisfied in full, survive the issuance of the

Tax Deed. Should you have any questions concerning other types of liens and judgments which survive

the Tax Deed Sale, consult an attorney. We cannot advise you.

Rogue Tax Sale Investor

258

HILLS

BOROUGH COUNTY, FLOR

IDA

http://www.hillsboroughcounty.org

TAX COLLECTOR’S OFFI

http://www.hillstax.org

(1) Contact Information

from

http://www.hillstax.org

, mouse over “Contact Us”

Email:

http://www.hillstax.org/ContactUs/EmailInformation.htm

Phone numbers:

http://www.hillstax.org/ContactUs/PhoneNumbers.htm

Mailing Addresses:

http://www.hillstax.org/ContactUs/MailingAddresses.htm

Online Comments Form:

http://www.hillstax.org/comments.htm

Phone

, Real Estate Taxes

: (813) 635

5200

, Property Taxes

taxes@hillstax.org

Address for correspondence, shipping: Doug Be

lden, Tax Collector, 2506 N. Falkenburg Road, Tampa,

Florida 33619

(2) Locations: Downtown

(

Main

)

Office

http://www.hillstax.org/Locations/DowntownBranch1.htm

601 East Kennedy Boulev

ard

County Center, 14th Floor

Tampa, Florida 33602

Phone: (813) 635

5200

(

) Property Tax Certificates

http://www.hillstax.org/tax/proptaxcert.asp

a) Tax Certificate Overview

http://www.hillstax.org/tax/tax_certificate_information.pdf

What are tax certificates?

Property taxes become due November 1, and are delinquent if not paid by

April 1 of the following

year.

In March the Tax Collector sends out reminder notices to all unpaid

accounts. The Tax

Collector prepares a list of delinquent taxes in May to be posted in the newspaper and

online.

The tax certificate’s face amount consists of the sum of the following: del

inquent real estate tax

(unpaid amount), interest (1.5% per month for April and May on the delinquent amount), Tax

Collector’s

commission (5% on the delinquent amount) and the newspaper’s advertising charge

(and

sale costs or

other costs).

Tax certificate

s are a first lien against property and shall supersede governmental liens.

The a

uction.

On or before June 1 the Tax Collector must start the tax certificate auction (Note: the

issuance of

tax certificates and the auction process is governed by Chapter 19

7 of the Florida Statutes).

Tax certificates convey no property rights. They are an interest bearing “lien

” Prior to the

auction, the list

of delinquent properties is advertised once a week for three consecutive weeks.

The interest on a tax certificate

ranges from 0 to 18%. Valid bids may be entered between 0 and

18% in

0.25% increments. If the tax certificate is redeemed after June 1 the tax certificate holder

is guaranteed a

minimum of 5% interest. Zero percent bids will not earn the 5% minimum

interes

Bids are entered and

awarded to the buyer with the lowest interest rate bid. Simple

interest accrues on a monthly basis. If the

tax certificate earns an interest rate of 12%, then

interest will accrue at the rate of 1% per month until the

tax certificat

e is redeemed.

If there are any delinquent properties that do not receive a bid, those tax certificates are issued to

the county at 18%. These county held tax certificates will become available for purchase at a

date to be determined by the Tax Collector.

Rogue Tax Sale Investor

259

The life of a tax certificate is 7 years. In the event of a bankruptcy filing, the life of a tax certificate

may be extended. If no action is taken by the tax certificate holder during the 7 year period, and

the taxes remain unpaid, the tax certificate is

cancelled due to the Statute of Limitation, which will

result in the loss of your investment.

Now you own a tax certificate, so what happens next?

In accordance with Florida Statutes, a tax

certificate holder shall not contact the owner of the

property u

ntil two (2) years have elapsed from April 1

of the year of issuance of the tax certificate.

Such contact may result in costly legal action.

Upon redemption of the delinquent taxes, the Tax Collector’s office will then pay the certificate

holder the total

taxes due including interest earned.

Certificates can be sold and transferred to another buyer by submitting a completed transfer form

along with a transfer fee of $2.25 per certificate, payable to the Tax Collector.

The holder of a tax certificate may

apply for a tax deed after two (2) years have elapsed from

April 1 of the year of issuance of the tax certificate.

(3b) Tax Certificate Sale Informational Video

http://www.hills

tax.org/tax/Tax%20Cert%20Sale%202008_0001.wmv

(3c) Buyer Deposit and Information

http://www.hillstax.org/tax/buyer_information.htm

The 2008 Tax Certificate Sale will be held online on

May 31, 2008 using the latest Internet technolog

provided by RealAuction.com.

Electronic bidding provides numerous benefits to tax certificate investors

as well as the citizens of Hillsborough County. Internet auctions not only increase the speed and

effi

ciency of the tax certificate sale, but ensure the prompt and accurate collection of delinquent tax

revenue needed

to fund vital county services.

In addition, it is a convenient way to invest in tax certificates

without leaving the comfort of your home or

office.

Click here to visit the Official Tax Certificate Auction Website

http://www.hillsboroughtaxsale.com

Buyer deposits will be accepted May 5, 2008 through May 26,

2008 (5:00 p.m. EST)

For deta

ils about tax certificates, please view our informational video

at:

http://www.hillstax.org/tax/Tax_Cert_Web.wmv

site training will be available. Cl

ick here for date and location:

http://www.hillsboroughtaxsale.com/training

Internet access will be available on the day of the sale at our North Tampa office located at 9309 North

Florida Avenue, Suite 111

In the event we exper

ience technical difficulties with the online tax certificate auction, the tax sale will be

held on May 31, 2008 at 10:00 a.m. at our North Tampa location.

(3d) Property Tax Pa yments

–

Wire Transfer Instructions

http://www.hillstax.org/tax/wire_instructions_PropTxDep.htm

For your convenience property tax payments may be wir

ed to our banking institution.

However, this does

not apply to buyer deposits.

To wire funds, send the compl

eted Wire Transfer Form

(

http://www.hillstax.org/Links/wire_instructions.pdf

)

via e

mail or fax it to (813) 635

5218. Contact your

bank directly and provide them with the information incl

uded in the wire transfer form. Please allow 24

hours for the wired

funds to post to our account.

If you require additional information or have questions,

please do not hesitate to contact our office at (813) 635

5233.

Rogue Tax Sale Investor

260

(3e) Tax Certificate Search by Buy

http://www.hillstax.org/taxapp/search_by_buyernum.asp

Disclaimer:

The following information is provided as a convenience by the Hills

borough County Tax

Collector's O

ffice, which is

not responsible for any errors or omissions. Please be advised that the

amounts due and availability of these items are subject to change at anytime.

ounty Certificates Available fo

r Purchase Listing (all years):

http://www.hillstax.org/tax/2007_PurchaseListing.pdf

County Certificates Available for

Purchase Download (all years):

http://www.hillstax.org/tax/2007_purc

haselisting.txt

ROGUE INVESTOR NOTE

: The list is available on the data CD that accompanies this book

(within the

file folder “Tax Sale Lists”).

(3f) Tax Certificate Sale Downloads

http://www.hillstax.org/tax/tax_certificate_downloads.asp

2007 Real Es

tate Advertising File Download (

Zippe

d ASCII Pipe Delimited.txt File):

http://www.hillstax.org/tax/2007_

AdvertisingFileDownload.txt

Advertising File Layout (Adobe Acrobat PDF):

http://www.hillstax.org/tax/Advertising_File.pdf

2007 Tax Certificate Sale

File Download (ASCII Pipe Delimited.

txt File):

http://www.hillstax.org/tax/2007TaxSaleCertificates.txt

006 Tax Certificate Sale File Download

(ASCII Pipe Delimited.txt File):

http://www.hillstax.org/tax/2006TaxSaleCertificates.txt

2005 Tax Certificate Sale File Download

(

ASCII Pipe Delimited.txt File

http://www.hillstax.org/tax/2005_tax_sale_certificates.txt

Tax Certificate Sale File Layout

(

Adobe Acrobat PDF

http://www.hillstax.org/tax/2005Tax_Sale_Certificate_File.pdf

ROGUE INVESTOR NOTE

: The 2007

real estate advertising list, and the 2007

tax certificate sale list

are

available on the data

CD that accompanies this book (within the file folder “Tax Sale Lists”).

(3g) Tax Deed Overview

http://www.hillstax.org/tax/taxdeedovervw.asp

The holder of a tax certificate may apply for a tax deed after 22 months have elapsed from June 1st of the

year of issuance of the tax certificate.

Prior to applying for tax de

ed foreclosure, it may be advisable to check for any e

xisting liens on the

property. Florida Statute 197.552 provides that unsatisfied governmental l

iens shall survive the issuance

of a tax deed.

The statute of limitation is seven (7)

years on all tax cer

tificates.

To apply for a tax deed the applicant

shall:

Submit a signed application

Pay all amounts required to redeem all outstanding tax certificates not owned by applicant

Pay current taxes, if due

Pay a fee of $125 for a title search

Pay a $75 applica

tion fee

Pay a $60 Clerk of Circuit Court fee

Rogue Tax Sale Investor

261

At a later date, the Clerk of the Circuit Court will advise the applicant of the sale date and additional costs,

which the applicant must pay. These costs include the advertising cost, mailing costs, and the

Sheriff's

fees. In Hillsborough County, the sale will take place approximately two (2) month

s following this

notification.

The property will be sold to the highest bidder at a public sale in the Hillsborough County

Courthouse auditorium located on the seco

nd floor.

For more information, you can visit the Clerk of the Circuit Court's website

(

http://www.hillsclerk.com/publicweb/Tax_Deed_sales_new.aspx

)

or contact our office.

Taxes

taxes@hillstax.org

; telephone: (813) 635

5200; tax

: (813)

612

6707

(4) Tax File Downloads

http://www.hillstax.org/tax/tax_file_download.as

(5) Research Tips and Tools

http://www.hillstax.org/tax/research.htm

Key information on the delinquent advertisement:

http://www.hillstax.org/tax/Forms/Adv_Sample_2003%20Seminar2.pdf

Understanding a Section, Township, Range Map:

http://www.hillstax.org/tax/Forms/Understanding_Section

_Map.pdf

CLERK OF THE CIRCUIT

COURT

http://www.hillsclerk.com/publicweb/Home.aspx

(1) T

ax Deed Sales

http://www.

hillsclerk.com/publicweb/Tax_Deed_Sales_New.aspx

The Clerk of the Circuit Court is statutorily responsible for conducting Tax Deed Sales and issuing a tax

deed in the name of the county to the successful bidder at a sale. Tax Deed Sales and the issuance

tax deeds are governed by Chapter 197, Florida Statutes.

The procedure involves a Tax Certificate Holder (tax certificates are sold to collect delinquent taxes)

applying for a tax deed through the Tax Collector.

There is no case filed in court and no

court order

issued for the Clerk to conduct a tax deed sale.

(1a) Tax Deed Sales

and Lands Available for Taxes

Information

http://www.hillsclerk.com/publicweb/td_sales_informati

on.aspx

Tax Deed Sales

To view the current sales list

and lands available, click here:

http://www.hillsclerk.com/PublicWeb/WorkArea/linkit.aspx?LinkId

entifier=id&ItemID=4011

These lists contain only the folio numbers for the properties being offered at sale. We do not have

information regarding structures (home, office building, warehouse) located on the property. You must do

the research to find out

what is on the land and also the condition of the land.

You may visit the Property Appraiser's web site

(

http://www.hcpafl.org

)

or the Tax Collector's web site

(

http://www.hil

lstax.org

)

for basic information regarding the listed properties. Be sure to make note of the

folio numbers you want to research before leaving our site.

e lists are subject to change. Properties are redeemed daily.

Redeemed properties are no longer

vailable for sale by tax deed auction. To hear a listing of redeemed properties by file number and auction

date, please call (813) 276

8100, extension 4768, then press 1. You may also contact the Tax Deed

Department to determine which properties may have b

een redeemed prior to the listed auction dates and

are no longer available for sale by a tax deed auction.

Rogue Tax Sale Investor

262

Lands Available for Taxes

Listing of delinquent tax real estate property that did not sell at auction and is available to be sold for

taxes and app

licable fees.

Properties for which no bids are received at the auction are placed on our "Lands Available List," if it is a

County held certificate. Florida Statutes Chapter 197

(

http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=Ch0197/titl0197.htm&St

atuteYear=2006&Title=%2D%3E2006%2D%3EChapter%20197

)

provides the Count

y may, at any time

within the first 90 days from the day the property is placed on the list, purchase the property for the

opening base bid. After the ninety day period, the property is available for purchase by the public for the

base bid plus accrued int

erest, any taxes due, documentary stamps, and recording and indexing fees.

If the certificate is a non

homestead property, brought to sale by an individual certificate holder (the

applicant) and no bids are received, the applicant is issued a Tax Deed for

monies already paid to bring

the property to sale plus any additional fees due.

On properties that have a homestead classification, ½ of the assessed value is added to the base bid per

Florida Statute 197. If the certificate holder fails to pay the one

alf value of the homestead, the sale is

considered canceled and the property will be advertised for re

sale within 30 days as provided for in F.S.

197.542(2). If, at the subsequent sale, there are no bidders and the certificate holder refuses to pay the

nies to cover the homestead, the clerk will place the property on the Lands Available List where it will

be available for purchase after 90 days.

This list is subject to change. If you are interested in this list, you may mail a check for $3.00 (plus a se

addressed stamped envelope) to:

Clerk of Circuit Court

Attn: Tax Deed Sales

P.O. Box 1110

Tampa, Florida 33601

You may visit the Property Appraiser's web site

(

http://www.hcpafl.org

)

or the Tax Collector's web si

(

http://www.hillstax.org

)

for basic information regarding the listed properties. Be sure to make note of the

folio numbers you want to research before leaving our site.

ROGUE INVESTOR NOTE

: The tax deed sales li

st for June 9, 2008 is available on the dat

aCDthat

accompanies this book (within the file folder “Tax Sale Lists”).

(1b) Tax Deed Sales Fees

http://www.hillsclerk.com/publicw

eb/general_services_fees.aspx

(1c) Tax Deed Sales FAQs

http://www.hillsclerk.com/publicweb/tax_deed_sales_faq.aspx

What are tax deed sales?

Tax deed s

ales deal with the selling

of property that is delinquent in taxes. A

tax deed sale occurs after an owner of a

ertificate appl

ies to the Tax Collector for a tax deed after the

tax c

ertificate has been held for the statutory period.

When and where are these tax deed sales held

Tax deed s

es are generally held on Monday

s at

10:00 a.m. on the 12th floor, Conferenc

e Room A at 501 E. Kennedy Boulevard.

Call for verification

before attending.

Where can I find out about upcomi ng sales?

The Clerk advertises tax deed sales for four

consecutive

weeks. The first publication is at least thirty (30) days prior to the date of the sale. We advertise in the

following newspapers on a rotating basis: Penny Saver, LaGaceta, Tampa Record, Florida Sentinel and

the Gulf Coast Business Review.

Rogue Tax Sale Investor

263

f you would like to receive a list of the folio numbers for properties going up for sale, please send a self

addressed stamped envelope plus .15¢ for each list requested.

What are some things that I should know before the sale?

There is no pre

registrati

on required in

order to participate in the bidding. You or a representative must be physically present at the sale to bid on

the property. However, we recommend that you research the properties before you bid. It is very

important to understand what you ar

e purchasing at the sale and whether there may be any liens

remaining on the property. Tax d

eed sales are not for the uninformed.

What happens if I am successful in a bid for a property?

As of March 28, 2002, if you are the

successful bidder for a piece o

f property:

You are required to post a $200.00 nonrefundable deposit at the conclusion of the bidding for the

parcel. This requirement is provided for in Florida State Statute Chapter 197.542(2). The deposit

must be made in cash or by cashier's check pay

able to Pat Frank, Clerk of the Circuit Court. If

paying by cash, the amount must be exact as we will be unable to provide change. If the $200.00

deposit is not paid by the successful bidder at the conclusion of a parcel's sale, then the bidding

on that pa

rcel will begin again at the base bid amount.

Payment in full must be made within twenty

four (24) hours from the advertised time of the sale.

Payment must be made in cash or by cashier's check payable

to Clerk of the Circuit Court.

After

we have received

payment in full for your successful bid, we will prepare and record a Tax Deed

which will be mailed to you. If you fail to remit payment within the required time, bids made by you

at subsequent auctions may be refused. If full payment is not received for

a property bid at

auction, it will be re

advertised and placed up for auction at the next scheduled sale.

What happens if a property receives no bids?

Properties for which no bids are received at the auction

are placed on our "Lands Available List

if it

is a County held certificate. Florida Statutes Chapter 197

provides the County may, at any time within the first 90 days from the day the property is placed on the

list, purchase the property for the ope

ning base bid. After the ninety

day period, the prop

erty is available

for purchase by the public for the base bid plus accrued interest, any taxes due, documentary stamps,

and recording and indexing fees.

If the certificate is a non

homestead property, brought to sale by an individual certificate holder (t

applicant) and no bids are received, the applicant is issued a Tax Deed for monies already paid to bring

the property to sale plus any additional fees due.

On properties that have a homestead classification, ½ of the assessed value is added to the base

bid per

Florida Statute 197. If the certificate holder fails to pay the one

half value of the homestead, the sale is

considered canceled and the property will be advertised for re

sale within 30 days as provided for in F.S.

197.542(2). If, at the subseque

nt sale, there are no bidders and the certificate holder refuses to pay the

monies to cover the homestead, the clerk will place the property on the Lands Available List where it will

be available for purchase after 90 days.

If you are interested in this

ist, you may mail

a check for $3.00 (plus a self

addressed

stamped

envelope) to:

Clerk of Circuit Court

Attn: Tax Deed Sales

P.O. Box 1110

Tampa, Florida 33601

Where can I get more informat ion about tax deed research?

All of the procedures followed f

or Tax

Deed Sales are governed by the Florida Statutes Chapter 197 and the Florida Administrative Code 12D

13.

Rogue Tax Sale Investor

264

You can also get more information from the following offices:

Tax Deed Sales Department

6th Floor

501 E. Kennedy

Boulevard

Tampa, FL 3360

Phone:

(813) 276

8100 Ext. 4768

Property Appraiser's Office

County Center, 16th Floor

601 E. Kennedy Boulevard

Tampa, FL 33602

Phone:

(813) 272

6100

Tax Collector's Office

Delinquent Tax Department

Phone:

(813) 635

5200

(1d) Tax Deed Sales Contact

Information

http://www.hillsclerk.com/PublicWeb/Dept_Contacts.aspx#TaxDeedSalesDepartment

(click on “Tax Deed

Sales Department”)

Physical Address

Clerk of Circ

uit Court

Tax Deed Sales

6th Floor

, 501 E. Kennedy Boulevard

Tampa, FL 33602

Mailing Address

Clerk of the Circuit Court

Tax Deed Sales

P.O. Box 1110

Tampa, FL 33601

1110

Phone, Main:

(813) 276

8100

, ext. 4768

(2) Office Locations

http://www.hillsclerk.com/publicweb/Office_Locations.aspx

Clerk of Circuit Court

George E. Edgecomb Courthouse

800 Twiggs Street

Tampa, FL

Tax Deed Sales

6th Floor

501 E. Kennedy Boulevard

Tampa, FL

336

Rogue Tax Sale Investor

265

ORANGE COUNTY, FLORI

http://www.orangecountyfl.net

TAX COLLECTOR’S OFFI

http://www.octaxcol.com

Earl Wood, Tax Collector

(1) General Informatio

Real Estate Taxes

http://www.octaxcol.com/real_estate_taxes.htm

Tax Information:

Taxes become delinquent April 1st of each year, at which time a 3% penalty is added

to the bill. Advertising

costs are also added before the Tax Certificate Sale.

Delinquent Property Taxes:

Real Estate taxes become delinquent on April 1st of each year. After real

estate taxes have become delinquent, they are advertised in a local newspaper once a week for three

consecutive weeks. The advertising and collection cost is added to the delinquent tax bill. On or before

June 1st, the Tax Collector must conduct a tax certificate sale for unpaid taxes on each parcel of

property. The sale is operated on a competitive bid

basis with interest bids beginning at 18% and

progressing downward. When a certificate is sold against a piece of property, the successful bidder pays

the delinquent taxes on that property and holds a certificate that constitutes a first lien against the

property.

To redeem the certificate, the owner of the property must pay the Tax Collector all delinquent taxes plus

accrued interest, and advertising cost. The Tax Collector will reimburse the certificate holder all monies

due and the property will be fre

e of that tax lien.

If the tax certificate is not redeemed within two years, the certificate holder may file a tax deed application

with the Tax Collector. The property owner is notified of this action and, if the taxes are not paid, the Clerk

of the Circ

uit Courts conducts a public auction and sells the property to the highest bidder.

In Orange

County only Tax Deed Sales are processed through the Orange County Comptroller Office.

(2) Contact Information

http://www.octaxcol.com/Contact%20Us.htm

Earl Wood, Tax Collector, email:

EKWood@octaxcol.com

Real Estate Taxes, email:

Taxes@octaxcol.com

(3) Office Locations

http://www.octaxcol.com/OfficeLocations.htm

Main Office

The SunTrust Center

200 South Orange Avenue, Suite 1600

Orlando, Florida 32801

Phone: 407

836

2709

Phone

, Delinquent Property Taxes

: 407

836

2700

(4) Calendar of Events

http://www.octaxcol.com/calendar.htm

April:

All unpaid property taxes become delinquent April 1s

t. At this time, a 3% interest charge is added

to the gross amount. Within 45 days, delinquent property taxes will be advertised in a local newspaper

and the cost of advertising will be added to the delinquent bill.

May:

List of delinquent real estate tax

es advertised once per week for three consecutive weeks prior to

tax certificate sale in a local newspaper.

June:

Tax certificate sale for delinquent real estate taxes begins on or before June 1st.

Rogue Tax Sale Investor

266

(5) Tax Sale

2007

http://www.octaxcol.com/TaxeSale/TaxSale2007.htm

The annual Tax Certificate Sale for prior year delinquent taxes will be held via th

e Internet on Saturday,

May 31

. The sale will start at 9:00 a.m. and will run until approximatel

y 4:00 p.m.

Please visit the Orange County Tax Collector’s bidding site

www.orangetaxsale.com

for details. Although

you

may register any time from May

12th, 2008 through the end of the sale, you are advised to

and bid well in advance of the sale date, since the sale will proceed at a fast pace. All deposits and

payments will be made by electronic funds transfer. Bidders are required to complete a W

9 form. The

information obtained from the W

9 form wil

l be reported to the IRS on the year

end 1099INT statement.

The delinquent list will be published three consecutive Mondays beginning May 12th, 2007

by the

Orlando Sentinel.

The other dates are May 19th, and May 26th, 2008. On May 12th, 2007, the delinque

accounts will be posted to the Tax Collector's web site

www.octaxcol.com

and to the

www.orangetaxsale.com site

The delinquent information will be updated periodically until the sale.

Not all of the items pr

inted in the newspaper will be sold, due to late payments received after the list was

prepared for publication. Revenue from the sale pay for th

e ad valorem property taxes/non

ad valorem

assessments, interest, and costs and charges related to the sale.

x Collector requires a minimum deposit of $1,000 or 10% of intended purchases, whichever is greater,

to be posted through the auction website.

There will be computers with bid site access available at the Tax Collector’s office for those bidders

without

other access to computers. Use of these computers will be by appointment only. Please call 407

836

2778 to schedule a session.

The advertising list will include the amount of taxes due, as well as interest and the cost of the sale, which

represents the f

ace

value of the tax certificate.

Simple interest for the amount that the certificate was

purchased will be calculated. Any bidder has the right to bid on any certificate, as long as t

he deposit

requirement is met.

Tax certificates are sold in the order th

ey appear on the tax roll.

The bidder willing to accept the lowest interest rate is awarded the certificate. If there are no bidders for a

certificate, it

will be struck to the County.

Bidding starts at 18% and interest is bid down until there are no

lowe

r offers. "No Interest" bids will give the bidder t

he certificate at 0% interest.

Bids shall be accepted in

even and fractional increments of .25% points only.

Certificates will be issued in the name of a person or a corporation. After the sale, certifica

tes may be sold

and transferred by assignment through the Delinquent Tax Department. A fee of $2.50 is charged for

each certificate transferred. When making inquiries about tax certificates or when requesting an address

change, please provide the delinquen

t tax department with all social security numbers/tax id numbers

currently and previously used to buy certificates.

The sale will continue until delivery of all certificates. If a bidder fails to pay for certificates, the deposit will

be forfeited and the

certificates will b

e resold by the Tax Collector.

Any bidder in default will be barred

from future tax certificate sales in Orange County.

Bidders will be notified of certificates purchased and the balance due within 24 hours of the closing of the

Intern

et auction. Balance of payment will be required within 48 hours of e

mail notification.

f you do not

receive a bill, please contact our tax office immediately at 407

836

2778.

Upon redemption of tax certificates, interest shall be calculated on a monthl

y basis from the first day of

each month beginning June 1st.

Certificate holders shall draw no interest during April and May while the

mandatory charge is in effect (FS 197.172). Application for tax deed may be made no sooner than two

years after the certi

ficate purchase.

Caution: You are hereby informed that this is not a sale of land, but a lien for the amount of

delinquent

taxes plus interest.

Certificates issued will be in effect for a period of seven years, and then canceled by

Rogue Tax Sale Investor

267

Act of the 1973 Florida

Legislature. Purchasing a tax certificate does not entitle the certificate buyer to

enter the property, nor harass the owner in any manner.

Certificate value may be affected by subsequently filed bankruptcy cases.

There is risk to principal and interest

with respect to tax certificates if property conditions or the utility

changes. This is true when changes are made to correct errors arising from obvious or concealed facts.

The Property Appraiser may correct only clerical errors after t

he tax roll has be

en certified (

Markha

mv.

Friedland, 245 So. 2d 645 [Fla 1971]

orash v. Mills, 263 So. 2d 579 [

Fla.

1972])

In a few recent instances, principal and interest were lost to Orange County certificate holders when the

land changed from undeveloped status to

ineligible for development (e.g.

wetlands). Certificates issued

rior to the change lost value.

Bidders are cautioned to select carefully the parcels bid upon to minimize

risk of loss. Timeshare and subsurface parcels will not be specifically identified

before the certificate is

sold.

ROGUE INVESTOR NOTE

: The Orange County tax sale is conducted on the Internet by Real Auction

(see Internet Auction Information at the end of the Florida section). Visit this website for Bidding Rules,

Training, Start Here,

Registering, and Previewing Items for Sale. The list for the 2008 tax certificate

auction will be available early in May of 2008.

CLERK OF COURTS

http://orangeclerk.onetgov.net

Lydia Gardner, Clerk of Cour

(1) Contact Information

http://orangeclerk.onetgov.net/operations/contact.shtml

PALM BEACH COUNTY, F

LORIDA

http://www.pbcgov.com

TAX CO

LLECTOR’S OFFICE

http://www.pbcgov.com/tax

Ann Gannon

, Tax Collector

(1) Office Hours and Loca t ion

http://www.pbcgov.com/tax/locations_branches.

shtml

Governmental Center

Administration/Occupational License/Real Estate

301 North Olive Avenue, 3rd Floor

West Palm Beach, FL

33401

Tax Services Director: Paschal “Pat” Poston

(2) Contact Information

http://www.pbcgov.com/tax/contact.shtml

Mailing address

P.O. Box 3715

West Palm Beach, FL 33402

3715

Property Tax

–

Real Estate and Tangible

Phone:

561

355

2266

Fax

561

355

6879

Rogue Tax Sale Investor

268

(3) Important Tax Dates

http://www.pbcgov.com/tax/help_taxdates.shtml

April:

Within 45 days from April 1st, the list of delinquent personal property taxpayers is advertised.

Advertising, interest, and collection costs are added to the delinquent tax notic

May:

List of delinquent real estate taxes advertised for three consecutive weeks prior to tax certificate

sale.

June:

Tax certificate sale for delinquent real estate taxes begins on or before June 1.

(4) Tax C ertificates

http://www.pbcgov.com/tax/services_property_taxcert.shtml

A tax certificate is a tax lien on property created when a third party pays the taxes due. If a third party

holds a tax certificate on a property, they

do not own that property. To learn more about the tax certificate

sale, click here to link to ou

r Tax Certificate Sale website:

https://www.bidpbtc.com/main

(5) Tax D eeds

http://www.pbcgov.com/tax/services_property_taxdeeds.shtml

The holder of a tax certificate may apply for a tax deed when two (2) years or more have elapsed since

April 1st of the year the certificate was issued.

A tax deed application is made to the Tax Collector's Office. The application initiates the process to force

the property to be sold at public auction. The delinquent property owner may retain the property by

redeeming the tax deed application any time bef

ore the property is sold and the tax deed is issued.

Tax deed sales are conducted by the Clerk & Comptroller, Palm Beach County

(

http://www.pbcountyclerk.com

)PropertyTaxForms

http://www.pbcgov.com/tax/services_property_forms.shtml

Request to purchase tax certificates:

http://www.pbcgov.com/tax/

forms/property/Tax_Certificate_Request.pdf

Endorsement form:

http://www.pbcgov.com/tax/forms/property/Endorsement_Form.pdf

http://www.pbcgov.com/tax/forms/property/W

9.pdf

Application for tax deed DR 512:

http://www.pbcgov.com/tax/forms/property/DR_512.pdf

BIDPBTC.COM

http://www.bidpbtc.com

Tax certificate online auction website for

Orange County

For assistance, call Grant

Street Group at 800

410

3445, c

ontact Auction Support

https://www.bidpbtc.com/main?&unique_id=SAkOHAoBBgEAAG79b

A&session=&auction_id=&email_admin_button=go

or vis

it the Tax Collector's homepage at

http

://www.co.palm

beach.fl.us/tax

(1) Introduction

https://www.bidpbtc.com/main

, then click on “Introduction”

Learn more about the tax certificate sale.

Rogue Tax Sale Investor

269

(2) Frequently Asked Questions

https://www.bidpbtc.com/main

, then click on “

FAQ

”

Frequently asked questions about the tax certificate sale.

)

Documentation

https://www.bidpbtc.com/main

then click on “

Documenta

tion

”

News, notices, user instructions, and legal documents.

Information

News:

https://www.bidpbtc.com/main?&uniqu

e_id=SAkPngoBBgEAAG79cCE&session=&auction_id=&use_this=

serve_document&document_id=119

Introduction:

https://www.bidpbtc.com/main?&unique_id=SAkPngoBBgEAAG79cCE&session=&auction_id=&view_intr

oduction_button=Introduction&is_popup=1&focus=1

Instructions:

https://www.bidpbtc.com/main?&unique_id=SAkPngoBBgEAAG79cCE&session=&auction_id=&view_inst

ructions_button=Instructions&is_popup=1&focus=1

FAQ:

https://www.bidpbtc.com/main?&unique_id=SAkPngoBBgEAAG79cCE&session=&auction_id=&view_faq

s_button=FAQ&is_popup=1&focus=1

ROGUE INVESTOR NOTE

: See web page for links to lega

l documents (disclaimer, user agreement and

(3a) Introduction

https://www.bidpbtc.co

m/main?&unique_id=SAkPngoBBgEAAG79cCE&session=&auction_id=&view_intr

oduction_button=Introduction&is_popup=1&focus=1

Tax Collector, Palm Beach County

2008 Tax Certificate Sale

1. The Tax Certificate Sale of unpaid 2007 real property taxes will begin at 8

:30 a.m. June 1, 2008. The

sale will be conducted on the County’s tax certificate auction web site,

www.BidPBTC.com

. Bidders can

review the advertised list of unpaid real property taxes and begin to submit bids on th

e web site starting

on May 14, 2008.

Computer terminals are available for

public use at 301 N. Olive Avenue,

West Palm Beach, Palm Beach

County, Florida by appointment. To schedule an appointment, please call (561) 355

3546. In the event

that the sale can

not be held on the auction web site, a live auction will be held at the time and location

listed above.

2. In order to submit bids, the following steps must be taken on

www.BidPBTC.com

Complete online registration

Complete IRS Form W

Establish a budget

Submit a deposit (online via ACH)

eceive bidder number assignment.

A social security number or tax identification number must be provided for each buyer and must belong to

the person listed on the W

9 form. T

here will be only one bidder number assigned to each Social Security

number or Tax I. D. number. The tax certificate list, redemption checks and 1099 interest earnings will be

issued exactly as indicated on your W

9 form. Until the tax sale is complete, no

changes will be made to

Rogue Tax Sale Investor

270

the bidder number issued. A change of name or tax identification number will constitute an assignment

and is subject to service charge for each certificate changed.

3. A deposit of 10% of your expected bids must be made prior to t

he close of any batch in which you

intend to submit bids. All payments must be made via ACH on the BidPBTC.com web site. No other form

of payment will be accepted.

4. Bidding starts at 18% and interest is bid down until sold. Bids may be made in 1/4 perce

nt increments.

A "zero" interest bid will get the bidder the certificate with

interest. When your bid is recognized as the

low bid on the Results Page, you are obligated to pay for the certificate even if the bid was unintentional.

5. The certificates

will be auctioned in the order listed in the newspaper. The delinquent taxes from prior

years will be auctioned first. After the prior years are posted, the 2007 delinquent taxes will be posted.

Bidders will be able to begin entering interest rates on the

web site beginning the day that the first

newspaper advertisement is published. Some items listed in the newspaper and on the web site will not

be auctioned due to payments being received after the list was prepared for publication.

6. The payment balanc

e for certificates purchased must be made within 48 hours from the postmark on

your notice of amount due. A certificate of ownership and listing of certificates purchased is provided to

each buyer. A bidder failing to make payment in the specified time wil

l forfeit the deposit, and the

certificates will be re

sold.

7. The Tax Collector reserves the right to cancel or correct certificates issued in error. Interest payments

may be affected by bankruptcies, U.S. Marshal seizures, property taken over by a rece

iver, etc.

8. Caution: This is not a sale of real property. It is a lien for the amount of delinquent taxes plus interest.

Contact with property owners initiated by certificate owners to encourage payment at any time is not

recommended. Contact or behavio

r of a certificate holder deemed unfair or deceptive may result in

criminal prosecution. A tax deed application is the proper and legal method to compel payment.

We in the Tax Collector's Office are happy to be of service to you. We are available to assis

tyouas

needed.

CLERK OF COURTS

http://www.pbcountyclerk.com

(1) Locations and Directions

http://www.pbcountyclerk.com/directions.html

Main Co

urthouse, 205 N. Dixie Highway

West Palm Beach, FL

33401

Phone: (561) 355

2996

(2) Telephone and M ail Dir ec t ory

http://www.pbcountyclerk.com/directory4.htm

Tax Deed Sales

Main Courthouse

205 N

orth Dixie Highway

3rd Floor, Room 3.23

West Palm Beach, FL 33401

Mailing address:

P.O. Box 484

West Palm Beach, FL 33402

Phone:

(561) 355

2962

Toll free: 1

888

760

9209

Email:

mailto:clerkweb@mypalmbeachclerk.com?subject=Tax Deeds

Rogue Tax Sale Investor

271

(3) Tax D eed Sales

http://www.pbcountyclerk.com/courtservices/tdfc/taxdeed.html

Amy Stein, Manager

Phone:

(561)

355

2962

Email:

clerkweb@mypalmbeachclerk.com?subject=Tax Deeds

Tax deed sales are the auction of property on which tax certificates have been sold by the Tax Collector’s

offi

ce for delinquent real estate taxes. Tax deed sales are held pursuant to Florida Statutes Chapter 197.

The Clerk & Comptroller’s office conducts the tax deed sale. Properties scheduled for tax deed sale are

published in the Palm Beach Daily Business Revie

w newspaper and are available to search online. View

general information and requirements.

Redemption

Property may be redeemed any time prior to the issuance of a tax deed. The redemption amount is listed

on the "Notice of Application for Tax Deed" mail

ed prior to the sale.

Redemptions prior to the date of sale should be done at the Tax Collecto

r’s office, 301 North Olive

Avenue, Third F

loor, West Palm Beach. For redemption on the date of sale, bring full payment to the

Clerk & Comptroll

er’s office at

205 N. Dixie Highway,

Room 3.2300.

Full payment must be made in cash, a cashier's check drawn upon a U.S. bank, or an attorney’s trust

acco

unt check drawn upon a Florida b

ank. Payment must be made payable to the Tax Collector. The

Clerk will not accept a

personal check, third party cashier's check or credit card.

(3a) Frequently Asked Questions

http://www.pbcountyclerk.com/faqs/civil/taxdeeds.html

General Information

What is a tax

deed sale?

A tax deed sale is the auction of property on which tax certificates have been

sold by the Tax Collector’s Office for delinquent real estate taxes. Tax deed sales are governed by Flo

rida

Statutes,

Chapter 197.

Where can I find general informati

on about tax deed sales?

Online at Tax Deed Sale Information

http://www.pbcountyclerk.com/courtservices/tdfc/tdsales.html

Where can I find out about properties scheduled

for tax deed sa le?

Online at Tax Deeds Public Search:

http://www.pbcountyclerk.com/ORIS/tax_deed.html

The Palm Beach Daily Business Review

(

http://www.dailybusinessreview.com

)

publishes a list in their

newspaper. You can call their office at 561

820

2060 for more information.

When and where are tax deed sales conducted?

ax deed sales are conducted once a month at 9:00 a.m. on the des

ignated sale day. Sale days can

be obtained from the Palm Beach Daily Business Review

(

http://www.dailybusinessreview.com

)

onl

ine at Tax Deeds Public Search (

http://www.pbcountyclerk.com/ORIS/tax_deed.html

Sales are held at the main courthouse

(

http://www.pbcountyclerk.com/centralmap.html

)

located at

205 North Dixie Highway,

West Palm Beach, in the dining area on

the

first floor, Room 1.2406.

What are other useful links to find information about tax deeds?

Property Appraiser:

http://www.co.palm

beach.fl.us/papa

Tax Col

lector:

http://www.co.palm

beach.fl.us/tax

Florida

Statutes:

http://www.leg.state.fl.us

Rogue Tax Sale Investor

272

Deposits/Payments

What is the r equired deposit at the time of the s

ale?

he highest bidder must pay a $200 cash deposit

and present valid identification (e.g., driver’s license, etc.) at the time of sale.

When is the full pa yment due?

Full payment must be received within 24 hours of the advertised sales

time, or the $20

0 cash deposit will be forfeited. Note: The Clerk & Comptroller’s office has the right to

refuse the future bids of bidders who have forfeited sales.

Redemptions

What is a tax deed redemption?

Redemption is the satisfaction of delinquent taxes prior to

the issuance

of a tax deed.

Where do I go for redemption pr ior to the date of sale?

Tax Collector’s Office (

http://www.co.palm

beach.fl.us/tax

301 North Olive Avenue

, 3rd Floor,

West Palm Beach, Fl

orida

Where do I go for redemption on the date of the tax deed sale?

Full payment should be made at the

Clerk & Comptroller’s office located in the main courthouse

(

http://www.pbcountyclerk.co

m/centralmap.html

)

at 205 N. Dixie Highway, Room 3.23.

What form of payment is required for redempti on?

Cash

Cashier’s check from a U.S. bank

An attorney’s trust account check from a Florida bank

Note

: Checks must be payable to the Tax Collector

The following forms of payment are

not

accepted:

Personal check

Credit card

Third party cashier’s check.

(3b

) Tax Deeds and Foreclosures Service Charges and Fees

http://www.pbcountyclerk.com

/fee/tdfc.html

(3c) Tax Deeds Public Search

http://www.pbcountyclerk.com/ORIS/tax_deed.html

(3d) Stat ement of C laim Form

htt

p://www.pbcountyclerk.com/pdf/soc_form.pdf

(3e) Request for Lands Available Information

http://www.pbcountyclerk.com/pdf/req_lands_available.pdf

(3f) Administrative Policy 93

http://www.pbcountyclerk.com/pdf/tax_deed_adm_pol_93

5.pdf

ROGUE INVESTOR NOTE

: Memorandum outlining policy regarding the Clerk of Court’s ability to refuse

to recognize the bid

of any person who has previously bid and refused, for any reason, to honor such bid.

Rogue Tax Sale Investor

273

PINELLAS COUNTY, FLO

RIDA

http://www.pinellascounty.org

TAX COLLECTOR’S OFFI

http://www.taxcollect.com

Diane Nelson, Tax Collector

(1) Contact Information

http://www.taxcollect.com/Content.aspx?DeptID=24&CommandID=0&Lang=en

Phone:

(72

7) 562

3262

Email:

taxcollector@taxcollect.com

Mailing address: P.O. Box 1729, Clearwater, FL 33757

(2) Important Dates Calendar of Events

http://www.taxcollect.com/Content.aspx?ContentID=86&CommandID=2&DeptID=17

April:

Tax Collector will advertise delinquent personal property liens within 45 days from April 1.

May:

A list of delinquent real estate taxpayers is

advertised in newspaper for three consecutive weeks.

The cost of advertising is added to the Delinquent Tax Bill on May 1. Payment of real estate taxes

received after May 15 must be in the form of cash or certified funds. Tax certificate sale of Delinque

Real Estate Taxes, begins on or before June 1.

(3) Office Locations

http://www.taxcollect.com/Content.aspx?DeptID=18&CommandID=0&Lang=en

Clearwater Courthouse

315

Court Street, 3rd Floor

P.O. Box 1729

Clearwater, FL 33757

Phone: (727) 562

3262

(

) Delinquent Real Estate Taxes

http://www.taxcollect.com/Content.aspx?ContentID=97&

CommandID=2&DeptID=3

Real estate taxes become delinquent on April 1 of the year following the year of assessment. A 3%

mandatory interest is added to the amount due at that time. If the taxes remain unpaid, the delinquent

property will be advertised on

ce a week for 3 consecutive weeks prior to the Tax Certificate Sale and the

advertising fee will be added to the tax bill.

The Tax Collector is required by law to hold a Tax Certificate Sale on or before June 1 each year. If

payment is not received by 5:0

on the business day immediately preceding the date the tax

certificate sale has been advertised to begin, a certificate will be issued and additional charges will

accrue.

A tax certificate is an enforceable first lien against the property for unpa

id real estate taxes. The sale

allows investors to purchase certificates by paying the tax debt. The sale is conducted in a reverse

auction style with participants bidding downward on interest rates starting at 18%. The certificate is

awarded to the bidder

who will pay the taxes, interest and costs and accept the lowest rate of interest. If

there are no bidders, the certificate is issued to the County at 18% annual interest.

To redeem the certificate, the property owner

or his representative, must pay th

e Tax Collector the

delinquent taxes plus accrued interest, advertising costs and collection fees. Payment of delinquent taxes

must be made with a cashier’s check, money order, cash or credit card. The amount due for delinquent

taxes is determined by the d

ate received by the Tax Collector and not the postmark. After payment is

received and validated, the certificate holder is reimbursed the cost of the certificate plus interest and the

lien against the property is removed.

Rogue Tax Sale Investor

274

If taxes remain unpaid, the certi

ficate holder may file a tax deed application with the Tax Collector two

years after the date of delinquency. The property will be sold at a public auction conducted by the Clerk of

the Circuit Court should the property owner fail to pay the tax debt.

r more information about delinquent

taxes you may contact us at 727

562

3262.

Results of the 2007 Internet Tax Certificate Sale

Date tax sale started: June 1, 2007

Duration of Sale

: 1 day

Number of

winning bidders: 26

Weighted a

verage interest rate:

0.30

Number of certificates issued:

17,804

Value of certificates issued:

$62,203,116.39

(5) Online Tax Sale FAQs

http://www.taxcollect.com/Content.aspx?ContentID=350&Com

mandID=2&DeptID=3

What is an online certificat e aucti on and how is it different from a t raditional auction?

nstead of

meeting in a large room and everyone calling out their bids, each bidder places his/her bid electronically,

over the internet with a c

omputer.

What equipment and software wil l I need?

There is no special software or hardware needed for the

sale. In order to participate, bidders must have access to the internet. The Tax Collector's office will

provide a number of computers for public ac

cess to the internet.

Is training available for the auction software and how do I get it?

site training classes will be held

at predetermined dates and times. Atten

dance is by registration only.

Please visit

www.pinellastaxsale.com/training

for a list of available dates and locations. Telephone support is also

available by contacting the Realauction customer support center at 877

361

7325.

What is a Batch?

The certificates being advertised are

sold individually and in the order they are

advertised. However, in order to make the bidding process more manageable, the certificates are divided

into groups called "batches" consisting of 2,000 certificates each.

When can I st art bidding?

You may begi

n entering your bids for all batches on May 11, 2007 at 9:00

a.m.

EDT.

When does the auction start and end?

The auction will officially start on June 1, 2007 at 8:00

a.m.

EDT.

Bidding on all items in Batch 1 will end on June 1, 2007 at 9:00

a.m.

EDT. E

ach subsequent batch will

end every hour until approximately 4:00

p.m

How much does it cost to enter the auction?

There is no auction fee to participate

However, each

bidder must place a deposit equal to $2,000.00 or 10% of the total face value of the

certificates they

anticipate winning (whichever is larger).

For example: If a bidder anticipates winning $100,000 in tax certificates, he/she must deposit $10,000

with the Tax Collector. If the goal is one certificate for $180, then a deposit of $2,000.0

0 is required.

All funds not used on winning bids will be refunded after the auction concludes.

What happens if I ex haust my deposit while I still have active bids?

Any bids remaining

will not

placed unless additional sufficient funds are deposited w

ith the county to meet the $2,000.00 / 10%

deposit requirement. Deposits can be made at any time during the auction. To win any particular

certificate in any batch, the $2,000.00 / 10% requirement must be met

before

the batch containing the

target certific

ate closes.

Rogue Tax Sale Investor

275

How do I pay for my security deposit and cer t ificates purchased?

Security deposits and payments

for certificates won can be made using the ACH payment wizard on the auction website.

How do I get started?

To register visit

www.pinellastaxsale.com

and click "Register To Bid". The step by

step wizard will painlessly guide you through the registration process.

What are Primary and Secondary Accounts?

Your initial registration creates what Realauct

ion refers to

as your "Primary" Account.

Once registered, each bidder may add up to 5000 "Secondary" accounts using the Sub Account

Maintenance wizard.

Any bid actions performed on the Primary account will be replicated by all Secondary accounts.

The a

dvantage of Primary/Secondary accounts is that one bidder can easily administer multiple accounts

and using sub accounts increases the bidder’s chance of winning in the event of a tie. The deposit made

by the primary covers all sub accounts under that prim

ary.

Can other participants see my bids?

No.

How does the bidding work?

Auction participants enter their lowest acceptable bid for a certificate.

When a batch ends, each certificate is awarded to the participant with the lowest interest rate bid.

Vali

d bids may be entered between 0 and 18% in 0.25% increments.

What happens in case of a tie bid?

In the case of a tie, the winner will be selected at random by the

auction software. The process used to select the random winner has been certified by an ind

ependent

third party.

When do I have to pay for a successful bid and what happens if I don’t?

Funds to cover all winning

bids must be

posted

on the website within 48 hours of the close of the auction.

If you fail to pay for certificates purchased, your

deposit will be forfeited, your bids canceled, and the

County may revoke future bidding privileges.

What happens to leftover deposit money?

Any deposit money not credited toward winning bids will be

returned to the bidder within two weeks of the close of

the auction.

How do I contact Customer Service?

For technical support or questions regarding auction procedures

including registration, training, bidding or deposits, please use the convenient email form on the website

or contact RealAuction Customer Ser

vice at:

RealAuction Customer Service

Phone: 877

361

732

Email:

customerservice@realauction.com

861 SW 78th

Avenue, Suite 102

Plantation, FL 33324

For inquires regarding tax payments or instructi

ons on how to pay your property taxes, please contact:

Pinellas County Tax Collector

Main Office

Office h

ours are weekdays 8:00

to 5:00

Phone: 727

562

3262 (ask for Delinquent Real Estate Department)

315 Court Street

Clearwater, FL 33756

Rogue Tax Sale Investor

276

Imp

ortant Dates

Advertising file publish dates: May 16, May 23 & May 30, 2008

Auction date: Saturday, May 31, 2008

Start Time: 8:00

a.m.

Auction Software Training:

Dates: TBA late April

2008

Times

:TBA

Location: Mid

County Service Center (“MCSC”)

13025

Starkey Road

Largo, FL 33773

(6)

ell

sTaxSale.com

http://www.pinellastaxsale.com

ROGUE INVESTOR NOTE

: The Pinellas County tax sale is conducted on the Internet by Real Auction

(see

Private Sector Tax

Sale Administrators

at the end of the Florida section). Visit this website for

Bidding Rules, Training, Start Here, Registering, and Previewing Items for Sale. Note: The list for the

2008 tax certificate auction will be available early in May of 2008.

ERK OF THE CI RC UIT C

OURT

http://www.pinellasclerk.org

Ken Burke, Clerk of the Circuit Court

(1) Locations

and Telephone Numbers

http://www.pinellasclerk.org/aspInclude2/ASPInclude.asp?pageName=locations.htm

Clearwater Courthouse

315 Court Street

learwater, FL 33756

Official

Records:

Room 163, phone:

(727) 464

4876, email:

recording@co.pinellas.fl.us

Recording Services:

Room 150, phone: (727) 464

4876, email:

recording@co.pinellas.fl.us

(

) Online Contact Form

http://pubtitlet.co.pinellas.fl.us/clerk/emailform/ContactUs.jsp

(

) Tax Dee d Sales Information

http://www.pinellasclerk.or

g/aspInclude2/ASPInclude.asp?pageName=taxdeed.htm

A tax deed sale is a public auction where property is sold to the highest bidder in order to recover

delinquent property taxes. The sale or public auction is conducted by a deputy clerk employed by the

lerk of the Circuit Court in accordance with Florida Statutes.

Tax deed sales are held in the main lobby of the Clearwater Courthouse located at 315 Court Street,

Clearwater, Florida beginning at 11:00 A.M. The deputy clerk will read the notice of sale a

nd will offer the

lands described in the advertised notice for sale to the highest bidder for cash at public auction.

Tax deed sales are published. The Clerk of the Circuit Court advertises in a local newspaper once each

week for four consecutive weeks a

t weekly intervals prior to the public auction.

If you are a successful bidder at the sale:

You must report to the Tax Deed Department, Room 163 of the Clearwater Courthouse,

immediately after the sale. The deputy clerk will calculate the documentary st

amps and recording

fees that are due in addition to the bid amount.

Rogue Tax Sale Investor

277

Payment in the form of cash, cashier

’

s check or money order is acceptable. Payment for the

documentary stamps and recording fees should be separate from the payment for the bid

amount. Al

l sales are final. No refunds will be issued.

A cash deposit is require

If there were other bids, the high bidder is required to post a $200 nonrefundable cash deposit with the

Clerk at the time of the sale. If full payment of the final bid amount, th

e documentary stamp tax and

recording fees is not made within 24 hours of the sale, excluding weekends and holidays, the Clerk will

pay all readvertising costs and costs of the sale from the deposit. If full payment is made in accordance

with the requireme

nts, the deposit will be applied to the sale price.

The bid amount plus applicable documentary stamp taxes and recording fees are required to be paid in

full to the Clerk of the Circuit Court within twenty four (24) hours after the advertised time of sal

More Important Information

Does a tax deed provide a marketable title? You may wish to research or seek advice on any property

you are considering bidding for before the tax deed sale. Generally, when any lands are sold for the

nonpayment of taxes, t

he title may not be a marketable title.

Tax Certificate information can be obtained from the Tax Collector's Office

315 Court Street, 3rd Floor

Clearwater, Florida

elephone: (727) 562

3262.

Information on the property subject to a tax deed sale

(

including structural information or the physical

address of the property)

is available in t

he Property Appraiser's Office at

315 Court Street, 2nd Floor

Clearwater, Florida

; telephone: (727) 464

3207.

Additional information

regarding a tax deed sale

is a

vai

lable from the Tax Deed Office at 315 Court

Street, Room 163, C

learwater, Florida.

(3a

) Tax Dee d Sales

Online Listing

http://www.pinellasclerk.org/tributeweb2

Search tax deed records by sale

date or a date range.

Auctions will be held in the main lobby of the Clearwater Cou

rthouse located at 315 Court Street. All sales

will begin at 11:00

For further information, call (727) 464

3424.

b) Tax Deed Certificates Online Search

http://pubtitlet.co.pinellas.fl.us/clerk/taxdeed/certificatelist/DM49Input.jsp

Search for tax deed status report.

Instructions for browsing tax deed certificates by dat

e of certificate.

(4) Lands Available for Taxes

http://www.pinellasclerk.org/aspInclude2/ASPInclude.asp?pageName=landsavailable.htm

Lands available for

taxes are properties that have been advertised for sale by the Clerk at public auction,

and no bidders appeared at the public sale to purchase the properties. When this happens, the Clerk is

required to enter the land on a list called "lands available for

taxes" and to notify the Board of County

Commissioners and all other persons holding certificates against the land that the land is available.

The listing of lands available for taxes is available online

(

http://pubtitlet.co.pinellas.fl.us/clerk/taxdeed/landsavailable/DM68Input.jsp

), or

a hard copy of the listing

may be purchased in the Recording Services Department, 315 Court Street, Clearwater, Florida 33756.

Rogue Tax Sale Investor

278

parcel of land may be purchased from the listing the Recording Services Department's Tax Deed Section.

Payment of the total amount owing on the property must be in the form of cash, cashier's check or money

order. C

all the Tax Deed Section at 727

464

342

4 to schedule an appointment to purchase "lands

available for taxes."

Any person may purchase property from the list of lands available for taxes. The county has 90 days after

the land is placed on the list to purchase the land for the opening bid, if al

l outstanding tax sale

certificates were issued after July 1, 1999. If any tax sale certificates were sold on or before July 1, 1999,

the County has 90 days from the sale date to purchase the land. After the 90 days, any person, the

county or governmental

unit may purchase the land for the opening bid without further notice or

advertising required. "Omitted" taxes plus interest will be added to the minimum bid except when the

county or other governmental unit is the purchaser for its' own use.

Information

on properties

(including structural information or the physical address of the property)

listed

on the Lands Available for Taxes list is available in the Property Appraiser's Office:

315 Court Street, 2nd Floor

Clearwater, Florida, 33756

(727) 464

320

or online at the Pinellas County Property Appraisers' Database Search,

http://www.pcpao.org/searchpage.php

Appraisal information on the property is also available by clicking

on the Parcel Number Li

nk from the Clerk's La

nds Available For Taxes listing

(

http://pubtitlet.co.pinellas.fl.us/clerk/taxdeed/landsavailable/DM68Input.jsp

More Important Informat

ion

"Omitted taxes" are those taxes that have not been extended on the tax roll against a parcel of property

after the property has been placed on the listing of lands availa

ble for taxes. (Section 197.102[2]

Florida

Statutes.) "Omitted taxes" are paid pl

us interest.

It is suggested that you seek advice on any property that you are considering for purchase. There may be

liens or encumbrances on the property.

(4a) Lands Available for Taxes Onl ine Listing

http://pubtitlet.co.pinellas.fl.us/clerk/taxdeed/landsavailable/DM68Input.jsp

PRIVATE SECTOR TAX SALE ADMINI STRATORS

BID4ASSETS

http://www.bid4assets.com

(1) Flori

da Tax Certificate Sales

http://www.bid4assets.com/help/index.cfm?fuseAction=TaxSaleLiensMain

Bid4Assets has conducted tax certificate sales in Florida since 2005. Bid4

Assets has become one of the

leading providers of auction management solutions handling the sales of tax certificates for 12 Florida

Counties.

Contact Information

Tax Sale Coordinator

8757 Georgia Avenue, Suite 1330

Silver Spring, MD 20910

mail:

county@bid4assets.com

Rogue Tax Sale Investor

279

Florida Counties Internet Auction Websites and Sale Dates

Alachua County = May 14

–

May 30

http://alachua.taxsale.com

Brevard County = May 15

–

May 30

http://brevard.taxsale.com

Duval County = May 13

–

May 30

http://duval.taxsale.com

Escambia County = May 8

–

May 30

http://escambia.taxsale.com

Gilchrist County = May 8

–

May 28

http://gilchrist.taxsale.com

Santa Rosa County = May 14

–

May 30

http://santarosa.taxsale.c

Sumter County = May 9

–

May 30

http://sumter.taxsale.com

Taylor County = May 7

–

May 28

http://taylor.taxsale.com

Walton County = May 15

–

May 30

http://walton.taxsale.com

ROGUE INVESTOR NOTE

: Bid4Assets also conducts the tax lien sale for Gadsden County.

GRANT STREET GROUP

http://www.lienauction.com

LienAuction is t

he first software built to conduct on

line tax certificate auctions.

Since 2004, Grant Street

Group clients have conducted 47 tax certificate sales using LienAuction software

selling nearly 517,000

certificates valued in excess of $1.4 billion. Grant Stre

et Group developed and now hosts 16 LienAuction

sites for sellers in 3 states.

For Bidders

Auctions take place on each se

ller's custom auction website.

Typically, auctions are held annually and

bids are accepted over a period of a few days to several w

eeks.

Information on the format of each sale can be found under "Documentation" on the auction site home

page.

An online registration is required before you can enter a live or trial auction, or review a software demo.

Registration is simple and free. Yo

u can start the process by clicking the "Register" bu

tton on any auction

home page.

Your registration on one LienAuction site is valid for all other auctions hosted by Grant Street

Group, so you only need to register one time.

You should review the comple

te list of sites

(

http://www.lienauction.com/sites.html

)

, which includes when

the next auction is scheduled.

Rogue Tax Sale Investor

280

(1) Auction Web Sites

http://www.li

enauction.com/sites.html

Citrus County = May 9

–

May 30, 2008

https://www.bidcitrus.com

Clay County = May 8

–

May 30, 2008

https://www.bidclay.com

Highlands County =

May 15

–

May 31, 2008

https://www.bidhighlandscounty.com

Lake County = May 8

–

May 30, 2008

https://www.bidlaketax.com

Leon County = May 15

–

June 1, 2008

https://www.bidleon.com

Marion County = May 6

–

June 1, 2008

https://www.bidmarion.com

Miami

Dade County = May 1

–

June 1, 2008

https://www.bidmiamidade.com

Okaloosa County = May 7

–

June 1, 2008

https://www.bidokaloosa.com

Osceola County = May 8

–

May 30, 2008

https://www.bidosceola.co

Palm Beach County = May 14

–

June 1, 2008

https://www.bidpbtc.com

Pasco County = May 14

–

May 29, 2008

https://www.bidpasco.com

St. Lucie County = May 14

–

May 30,

2008

https://www.bidstlucie.com

Volusia County = May 12

–

May 30, 2008

https://www.bidvolusia.com

REAL AUCTION

http://w

ww.realauction.com

(1) List of County Auctions

http://www.realauction.com/template.cfm?r=LeftMenu/ListCountyauctions

Florida online auctions open in

May and end as

late as June 1.

Practice website

–

Florida counties, visit

http://www.floridataxsale.com

. New auctions every day.

Charlotte County, visit

http://www.charlotteta

xsale.com

Auction Opens: 5/6/08

Auction Ends: 5/30/08

Rogue Tax Sale Investor

281

Columbia County, visit

http://www.columbiataxsale.com

Auction Opens: 5/9/08

Auction Ends: 5/31/08

Flagler County, visit

http://www.flaglertaxsale.com

Auction Opens: 5/9/08

Auction Ends: 5/30/08

Gadsden County, visit

http://www.gadsdentaxsale.com

Auction Opens: 5/8/08

Auction Ends

: 5/28/08

Hernando County, visit

http://www.hernandotaxsale.com

Auction Opens: 5/14/08

Auction Ends: 5/30/08

Hillsborough County, visit

http://www.hills

boroughtaxsale.com

Auction Opens: 5/2/08

Auction Ends: 5/31/08

Lee County, visit

http://www.leetaxsale.com

Auction Opens: 5/1/08

Auction Ends: 5/30/08

Levy County, visit

http://www.levytaxsale.com

Auction Opens: 5/15/08

Auction Ends: 5/30/08

Monroe County, visit

http://www.monroetaxsale.com

Auction Opens: 5/7/08

Auction Ends: 5/31/08

Nassau County, visit

http://www.nassautaxsale.com

Auction Opens: 5/12/08

Auction Ends: 5/29/08

Orange County, visit

http://www.orangetaxsale.com

Auction Opens: 5/12/08

Aucti

on Ends: 5/31/08

Pinellas County, visit

http://www.pinellastaxsale.com

Auction Opens: 5/16/08

Auction Ends: 5/31/08

Polk County, visit

http://www.polktaxsale.co

Auction Opens: 5/9/08

Auction Ends: 5/30/08

Putnam County, visit

http://www.putnamtaxsale.com

Auction Opens: 5/1/08

Auction Ends: 5/24/08

Sarasota County, visit

http://www.sarasotacountytaxsale.com

Auction Opens: TBA

Auction Ends: 6/1/08

Seminole County, visit

http://www.seminoletaxsale.com

Auction Opens: 5/4/08

Auction Ends: 5/30/08

Rogue Tax Sale Investor

282

Suwannee

County, visit

http://www.suwanneetaxsale.com

Auction Opens: 5/13/08

Auction Ends: 5/30/08

(2) Realnews

http://www.realauction.com

, left

hand column

Announceme

nts include upcoming tax sale auctions.

(3) Contact Information

http://www.realauction.com/template.cfm?r=Contactus/Enquiries

Realauction.com, LLC.

Corporate Headquarters

1 SW 78th Avenue

Suite 102

Plantation, FL 33324

Phone:

954

734

7400

ax: 954

424

7601

Email:

info@realauction.com

Customer support email:

customerservice@

realauction.com

Rogue Tax Sale Investor

283

Georgia

Tax Lien Sales:

Tax Deed Sales:

Yes.

Sales are conducted by the Tax Commissioner’s Office.

Over

the

Counter Tax Deed Sales:

Rating:

Four Stars (****)

Interest Rate:

20% flat in

terest rate the first year; an additional 10% after the first year

(see

Redemption Period below).

Sale Period

Sal

es occur on the first Tuesday of

the

month, by determination of the

Tax

Commissioner

In most cases, the Tax Commissioner acts as ex

officio

sheriff for collecting

taxes.

Redemption Period:

One

year extended

right of redemption

period

following the tax deed sale

However,

the

tax deed holder may allow a property owner to redeem after 1 year if he/she

chooses.

If the taxes are redeemed, the ta

xdeedholderreceivesa20%flatinterestrate,

regardless of when the property is redeemed within the 1

year redemption period. If redeemed

within 1 month, the investor still receives 20%, which results in an outstanding annual return of

240%. After the

first year, the investor is entitled to an additional 10% interest. Upon

redemption, the investor must issue a quit

claim deed to release the tax deed.

Bidding Process:

All a

uctions are by competitive bid, with the property being sold to the

highest bidde

r. The opening bid is the outstanding taxes, penalties, interest, fees and

advertising costs.

State

Specific Information:

Georgia is a complicated tax

deed

state because the auctions

occur frequently

and, although the redemption period is quick, the for

eclosure process is not

easy.

The Tax Commissioner will generally perform a title search and notify all interested

parties. This helps eliminate some of the investor’s burden.

Georgia law allows the property owner, or anyone with any right, title or inte

rest in the property

to repurchase (redeem) the property. Until the right of redemption has been foreclosed or the

title has ripened by prescription, a tax deed has the same force and effect as a lien. When real

property is sold at a tax sale, the owner,

creditor, or any person having an interest in the

property may redeem (repurchase) the property from the holder of the tax deed within 12

months.

The tax deed holder has defeasible title for the first 12 months, and is therefore responsible for

paying th

enextyear’staxes.Ifthetaxdeedholderfailstopay,anotherinvestorcanpurchasea

deed for the taxes owed; therefore, it is best to

keep the taxes current

After 12 months from the date of the tax sale, the purchaser at the tax sale may terminate

foreclose on the owner’s right to redeem the property by causing a notice(s) of the foreclosure

to be served by certified mail to the owner of record and to all interest holders that appear on

the public record. In addition, the notice of foreclosure i

stobepublishedinthenewspaperinthe

county in which the property is located, once a wee

kforfourconsecutiveweeks(refertoOCGA

45 to 48

)

AnoticemustbeservedbytheSheriff’sOfficewithin15days,and

advertising must occur 30 days

after the notice. Acquisition of the property will take a minimum

Rogue Tax Sale Investor

284

approximately

1yearand45days.Becausetheprocessiscomplicated,consultingwithone’s

attorney is recommended. Georgia also recommends that the purchaser seek legal advice

regardin

gthepetitiontoquietthetitle(OCGA23

60). After this process is fulfilled, the investor

has fee simple title to the property.

You cannot take possession of or collect rent during the redemption period or before the

property owner

’

srightofredemp

tion has been removed through foreclosure.

According to Georgia state law (OCGA 48

48), a title under a tax deed properly executed on

or after July 1, 1996, at a valid and legal sale, shall ripen by prescription after 4 years. However,

arecentcourtca

se may render the ripening by prescription as inapplicable. Consult the county

and legal counsel for more information.

Georgia County Links:

See

Georgia

Tax Sales

http://www.tax

lien

certificates.

com

Detailed County

Specific Information

COBB COUNTY, GEORGIA

http://www.cobbcounty.org

TAX COMMISSIONER’S O

FFICE

http://www.cobbtax.org/Main/Home.aspx

Gail Downing, Tax Commissioner

Tori Steele, Chief Clerk

(1)

Office

Location

and Hours

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/office_loca

tion_hours.htm

Main office for the Property Tax Division

736 Whitlock Avenue Suite 100

Marietta, GA

30064

Phone: (770) 528

8600

Fax: (770) 528

8679

(2) Online Contact Form

http://www.cobbta

x.org/Forms/ContactUs.aspx

PROPERTY TAX DIVISION

(within the Tax Commissioner’s Office)

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/mainpage_taxes.ht

This office collects real/personal property taxes not only for Cobb County but also for the City of Acworth.

For information, call (770) 528

8600

) Delinquent Taxes

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/Delinquent_Taxes.htm&LMparent=189

All taxes remaining unpaid after the due date are delinquent and are subject to interest and penalties. The

Tax Commissioner's Office m

ails 30

day late notices on all unpaid accounts. Any taxes remaining unpaid

at this time are subject to levy and tax sale. A listing of all delinquent taxes may be found in the Cobb

County Tax Commissioner's Tax Vault located

736 Whitlock Avenue, Suite

100 in Marietta

. This listing

is updated monthly. Terminals are also available for public use in checking unpaid taxes.

Rogue Tax Sale Investor

285

The Cobb County Tax Commissioner's Office follows legal procedures prescribed by the Official Code of

Georgia Annotated (OCGA) when lev

ying property. We strongly suggest you read those sections of

Georgia law which pertain to tax executions and tax sales. OCGA Title 48

Revenue and Taxation,

Chapter 3

"Tax Executions," and Chapter 4

"Tax Sales," contain important information that you

must

be aware of.

Tax Sales:

Tax sales are held on the first Tuesday of each month, between the hours of 10

:00

and

:00

on the steps of the Superior Court building (except when the first Tuesday of the month falls on

a legal holiday

in which

case the sale is held the next business day). Properties scheduled for tax sale

may be reviewed in the Levy Department of the Tax Commissioner's Office. A listing of the properties

may also be found in the Friday edition of the Marietta Daily Journal for a

four

week period prior to the

sale.

Starting bid lists may be picked up after 12

:00

noon the Friday before the sale in the Levy Department.

You do not need to pre

do not a

ccept mail, phone, or fax bids. The opening bid for a particular property is the amount of tax due,

plus penalties, interest, fi. fa. costs, levy costs, administrative levy fee, certified mail cost, advertising cost,

and tax deed recording fee. The propert

y is sold to the highest bidder. We require payment in full upon

conclusion of the tax sale

. Payment must be in the form of cash, certified check, cashier

’

s check, or

money order. If there is any excess after paying taxes, costs, and all expenses of a sale

, the tax

commissioner or tax collector may file an interpleader action in superior court for the payment of the

amount of such excess. Such excess shall be distributed by the superior court to intended parties,

including the owner as their interest appear

s and in the order of priority in which their interest exists

(OCGA 48

5). Any properties not receiving a bid may be reauctioned that afternoon at 3:00 p.m.

The tax sale purchaser receives a tax deed to the property. However, they cannot take immediate

possession of the property, make any improvements to the property, evict any tenants, or move onto the

property. Georgia law allows the property owner, or anyone with any right, title or interest in the property

to repurchase (redeem) the property. Until t

he right of redemption has been foreclosed or the title has

ripened by prescription, a tax deed has the same force and effect as a lien.

Right of Redemption:

When real property is sold at a tax sale, the owner, creditor, or any person having

an interest

in the property may redeem (repurchase) the property from the holder of the tax deed within

12 months.

The redemption price is the bid amount, plus any taxes paid by the purchaser after the tax sale, plus any

special assessments on the property, plus a 20

% premium of the amount for the first year or fraction of a

year which has elapsed since the date of sale, and a 10% premium for each additional year or fraction of

a year thereafter, plus the sheriff and advertisement costs. The tax sale purchaser is resp

onsible for

determining the amount payable for redemption. Redemption of the property puts the title conveyed by

the tax sale back to the owner of record subject to all liens that existed at the time of the tax sale.

Notice of Foreclosure of Right to Red

eem:

ter 12 months from the date of the tax sale, the purchaser

at the tax sale may terminate or foreclose on the owner's right to redeem the property by causing a

notice(s) of the foreclosure to be served by certified mail to the owner of record and to

all interest holders

which appear on the public record. In addition, the notice of foreclosure is to be published in the

newspaper in the county in which the property is located once a week for four consecutive weeks.

For more information on Tax Sales, pl

ease

visit

http://www.cobbtax.org/Forms/pdffiles/taxsales.pdf

obtain a copy of our "Real Property Tax Sales" booklet.

)

Real Property

Tax Sales

Booklet

http://www.cobbtax.org/Forms/pdffiles/taxsales.pdf

ROGUE INVESTOR NOTE

This brief publication is designed to answer tax sales questions and provide

an insight into the legal framework that gives the authority for con

ducting a real estate tax sale in the state

of Georgia.

See web page for the following information: Introduction, Tax Sale Procedures, Fieri Facias

(Fi. Fa.), Authority to Sell, 30 Day Notice Before Issuing Fi. Fa., Issuance and Recordation of Fi. Fa.,

Lev

y, Pointing Out Privilege, Advertising, 10 Day Notice to Owner, Starting Bids List, Tax Sale, Payment,

Rogue Tax Sale Investor

286

Sale Closing, Payment of Excess Funds After the Tax Sale, Right of Redemption and the Amount

Payable for Redemption, Notice of Foreclosure of Right to Re

deem, After the Right o

f Redemption is

Foreclosed,

Ripening of the Tax Deed Title by Prescription

–

An Alternati

ve Method, Subsequent Tax

Sales, and Questions.

(3) Frequently Asked Questions

http://www.cobbtax.org/Forms/HtmlFrame.aspx?mode=content/faq.htm&LMparent=189

When does a Fi.Fa. (Tax Lien) go on the property?

After the last day of payment of taxes the Tax

Commissioner will notify the taxpayer in writing

that the taxes are outstanding and unless paid within thirty

(30) days, an execution (Fi.Fa.) will be issued in accordance with O.C.G.A. 48

When, where and what time is the tax sale?

Tax levy sales are held on the first Tuesday of each

month. If Tu

esday falls on a holiday, the sale will take place on the first Wednesday. The sale is held on

the Courthouse steps and starts at 10:00 a.m. Legal hours of tax sales are between 10:00 a.m. and 4:00

p.m.

Further information on tax sales is available on thi

swebsite.

When and where do you advertise f or the sale?

Advertisements can be found each Friday in the

Marietta Daily Journal.

DEKALB COUNTY, GEORG

http://www.co.dekalb.ga.us

TAX COMMISSIONER’S O

FFICE

https://dklbweb.dekalbga.org/taxcommissioner/index.asp

Claudia G. Lawson

, Tax Commissioner

Phone: (404) 298

4000

(1) Location and H ours

https://dklbweb.dekalbga.org/taxcommissioner/index.asp?pg=Locations

Property

, Mailing Address

DeKalb County Tax Commissioner

Collections Division

Box 100004

Decatur, GA 30031

7004

Central Office

4380 Memorial Dr

ive, Suite 100

Decatur, GA 30032

(2) Tax Sale General Information

https://dklbweb.dekalbga.org/taxcommissioner/index.asp?pg=TaxSaleGeneralInformation

(

For specific information consult your attorney.)

A tax lien attaches to the property at its valuation (January 1st; O.C.G.A. 48

56). A tax lien against real

property is superior to all other liens. The lien is released by paying the tax charged against

it. On

December 31st (O.C.G.A. 48

3) of each year the Tax Commissioner must issue an execution (Fi

Fa.)

against all delinquent taxpayers. Executions direct the levying officer to levy on the property. It is the duty

of that person to enforce an executio

n by either collection or levy and sale.

Tax sales are held each month, generally from April through December. Sales are scheduled on the first

Tuesday of any given month on the Courthouse steps at 12:00

oon. Notice of the sale is published once

Rogue Tax Sale Investor

287

a week f

or four weeks immediately preceding the sale in the legal organ (newspaper) for the county,

which is presently The Champion Newspaper. We do not have a mailing list for our tax sales; however, if

you are interested in what properties are being sold, you sh

ould obtain a copy of The Champion

Newspaper. For more information concerning The Champion Newspaper, please visit their website at

www.championnewspaper.com

Tax sale bidding commences with the total of

taxes and costs (levy, recording, advertising and

commissions) on each parcel, with the property being sold to the highest bidder. If there are no bidders,

the County may enter a bid on the property equal to the starting bid.

While the successful bidder r

eceives a tax deed, he has no immediate control over the property. The

taxpayer or any other person having a right, title, interest in, or lien upon the property may redeem it

any time within 12

months from the date of the sale by paying the redemption

price. The purchaser is not

entitled to rents and/or profits arising from the property during the redemption period.

The redemption price is the amount paid for the tax deed at the tax sale plus any taxes subsequently paid

by the tax deed purchaser plus 2

0% of that amount for the first year or fraction of a year elapsing

between the date of the sale and the date of redemption. After the first year following the conclusion of

the tax sale

the tax deed purchaser is entitled to an additional 10% for each sub

sequent year or fraction

of a year until redemption.

Twelve months after the date of the sale the purchaser may begin to forever bar the right of redemption

by having proper notice served upon the taxpayer, occupant (if any) and upon all persons having

ecorded any right, title, interest in, or lien on the property in the county where the property is located in

accordance with O.C.G.A. 48

45 through 48

48. Additional fees may be charged for sheriff’s service

and advertising 30 days after service of no

tice. Thus a minimum time of one year and forty

five days

elapses between acquisition of a tax deed and the right to physical control of the property.

Even though the purchaser receives defeasible title before the redemption period expires, he or she

acqu

ires sufficient interest in the property to make a return on the property after January 1st the following

year (if still unredeemed) and also to be liable for taxes due on the property the year in which it is sold

and subsequent years until redeemed. Curre

nt year tax information is available through the DeKalb

County Tax Commissioner website at

http://www.co.dekalb.ga.us/taxcommissioner

Georgia Supreme Court Decision (

Blizzard v. Moniz, 271 Ga.

50, 518 S.E.2d 407 [1999])

has rendered

"ripening by prescription" (O.C.G.A. 48

48) inapplicable to tax sale purchases in most cases. The Court

determined that actual possession of the property is necessary for a tax deed to convey fee simple title to

he property absent the process of barring or foreclosing the right of redemption.

It is important to remember that the worth of a tax title is subject to many factors and that all tax sales are

administered under the doctrine of caveat emptor

(“Let the bu

yer beware [or take care]”). T

o ensure your

rights you should consult a knowledgeable real estate attorney.

(3) Conditions of Sale

https://dklbweb.dekalbga.org/taxcommission

er/ConditionsOfSale.htm

Sale will be conducted as follows:

Officer conducting sale will identify each parcel to be sold by the file number.

Officer will read legal description.

Officer will call out beginning bid, which consists of original taxes, lat

e payment penalty, interest,

Fi. Fa. cost, execution fee and other legal costs and fees as enumerated and allowed under

O.C.G.A. 15

25 and 19

143.

Officer will accept bids in total dollar amount only.

Officer will knock down each parcel sold to the b

est and highest bidder for cash.

Rogue Tax Sale Investor

288

Conditions of sale:

Cash, cashier’s or certified check must be paid no later than one hour following conclusion of the

sale, at the Office of the Tax Commissioner, Delinquent Collections Division, Suite 100, 4380

Memor

ial Drive, Decatur, Georgia 30032. Personal checks will not be accepted. Purchaser will be

receipted for purchase.

Tax deed and Fieri Facias will be forwarded to purchaser at address shown on receipt within 30

working days from the date of sale, or at the

earliest possible date.

Cash payments will be accepted in U.S. dollars only.

In the event that any bidder refuses to comply with his bid or fails to tender the required cash payment

within one hour following conclusion of sale, resale will take place on s

ame day at 2:00 p.m. or earliest

time within the legal hours of sale. The sale officer will reserve the right at second sale to either accept or

reject bids from purchaser failing to comply with bids at first sale. Any bidder refusing to comply with his

d may be liable for the bid amount difference between the first and second sale.

Please remember that this is a legal proceeding and all bids entered are binding and the best and highest

bid will be collected in full.

ROGUE INVESTOR NOTE

: See web page fo

r some additional information.

(4) Basic Property Des cription

https://dklbweb.dekalbga.org/taxcommissioner/TaxSaleBrief.asp

Property lists for

May 2008

tax sales as of

April

16, 2008.

FULTON COUNTY, GEORG

http://www.co.fulton.ga.us

TAX COMMISSIONER’S O

FFICE

http://www.fultoncountytaxes.org/fultoniwr

Arthur E. Ferdina

nd, Tax Commissioner

(1) Office Locations

http://www.fultoncountytaxes.org/fultoniwr/06_depts_Locations.htm

Fulton County Government Center

141 Pryor Street

Atlanta, GA 3

0303

(

) Delinquent Taxes Foreclosures

http://www.fultoncountytaxes.org/fultoniwr/11c_depts_property_taxes.htm

All taxes remaining unpaid after the city and county d

ue dates are delinquent and are subject to interest

and penalties. The City of Atlanta due date is normally August 15 and the County due date is normally

October 15. Interest at the rate of one percent (1%) per month accrues on the 16th of the month after

the

due date and the 16th of each following month thereafter. A one time ten percent (10%) tax penalty

accrues ninety (90) days after the due date, except for homesteaded property where the tax is $500.00 or

less. Additional fees and costs accrue as collec

tion action continues. The Tax Commissioner mails 30

day late notices on all unpaid accounts and any taxes remaining unpaid at this time are subject to levy

and foreclosure. A listing of all delinquent taxes are available for public inspection and use in t

he Tax

Commissioner’s Tax Record Room at the Downtown location, 141 Pryor Street, SW, Room 1089.

The Fulton County Tax Commissioner’s Office follows legal procedures prescribed by the Official Code of

Georgia Annotated (O.C.G.A.) when levying property. It

is strongly suggested that you read those

sections of Georgia law which pertain to tax executions and tax foreclosures. O.C.G.A. Title 48

–

Rogue Tax Sale Investor

289

Revenue and Taxation, Chapter 3

–

“Tax Executions,” and Chapter 4

–

“Tax Sales,” contain important

information.

) Property Tax Sales

http://www.fultoncountytaxes.org/fultoniwr/11d_depts_property_taxes.htm

Tax Sales are held on the first Tuesday of each month, between the hours

of 10

:00

and 4

:00

the steps of the Fulton County Courthouse, 136 Pryor Street, SW (except when the first Tuesday of the

month falls on a legal holiday

in which case the sale is held the next business day). A courtesy listing of

properties up

for sale is available in the office and may be viewed or downloaded from this website or

found in the Friday edition of the Fulton Daily Report,

www.dailyreportonline.com

, for a four

week period

prior to t

he Tuesday Sale date.

You do not need to pre

phone, or fax are not accepted. The opening bid for a particular property is the amount of tax due

, plus

penalties, interes

t, Fi. F

a. costs, levy costs, administrative levy fee, certified mail cost, advertising costs,

and tax deed preparation and recording fee. The property is sold to the highest bidder. Payment is

required in full upon conclusion of the tax sale. Payment must

be in the form of cash, cashier’s check, or

money order. If there are any excess funds after paying taxes, accrued costs, and all expenses of a tax

sale, the Tax Commissioner files an Interpleader Action with Superior Court which determines how the

excess

funds are to be distributed.

The tax sale purchaser receives a tax deed to the property. However, they cannot take immediate

possession of the property, make any improvements to the property, evict any tenants, or move onto the

property. Georgia law allo

ws the property owner, or anyone with any right, title or interest in the property

to repurchase (redeem) the property. Until the right of redemption has been foreclosed or the title has

ripened by prescription, a tax deed has the same force and effect as

a lien.

Fulton County Tax Commissioner receives many inquiries concerning real estate tax sales. Both Non

Judicial Ex

Officio Tax Sales and Judicial In Rem Tax Foreclosure Sales are conducted each month. This

brief publication is designed to answer questi

ons and provide an insight into the legal framework that

gives the authority for conducting a real estate tax sale in the state of Georgia.

This information is not intended as a substitute for professional advice or assistance. Prospective

purchasers are

encouraged to consult an attorney. Keep foremost in mind that it is up to the purchasers

at a tax sale to assure themselves of the soundness of the sale and the deed acquired at the sale. No

warranties are given or implied and clear title is not contemplat

ed. Our primary concern is the payment of

delinquent taxes. The conveying of property, or rights to property, is coincidental.

Applicable references to the Official Code of Georgia are given both as a source of authority and to add to

a clear understandin

g of real estate tax sales in the state of Georgia.

Attention

Prospective Non

Judicial Purchasers: You are encouraged to read the following information

which will answer most of your questions regarding tax sales. As tax sale purchasers, you are responsi

ble

for knowing the law regarding tax sale purchases and should familiarize yourself with all the applicable

statu

es. You should research each property, perform a site visit and know the property prior to bidding at

tax sale.

You are reminded that a tax

deed only conveys “defeasible” title to property. To acquire fee simple title to

property, a tax deed purchaser must foreclose the right to redeem pursuant to state law.

The legal axiom of caveat emptor

“buyer beware

” applies to tax sales (O.C.G.A.

§9

167). Therefore,

you are charged with knowledge of the titles of the properties sold and any defects in these titles. The

Fulton County Tax Commissioner does not warrant the titles and any title search done for the Tax

Commissioner should not be conside

red an opinion of title to rely on by tax sale purchasers.

The Fulton County Tax Commissioner reserves the right to void any tax sale that is later determined to

have conditions which may invalidate a sale. The Tax Commissioner cannot and does not guarant

ee any

expected gain on investment.

Rogue Tax Sale Investor

290

Several actions are required by law in preparation for auctioning property. Information folders are kept on

these parcels including our title search, tax maps and/

r plat, various correspondences, and our Ex

Officio Sher

iff’s Notice of Service. Our title searches are for our purposes only, and would not serve the

needs of the buying public. Keep in mind that it is the purchasers’ responsibility to assure themselves of

the soundness of the titles of all properties sold at

a tax sale.

Questions may arise that are outside of the scope of the duties and responsibilities of the Tax

Commissioner. For example, concerns regarding building code requirements, sewer lines, easements,

etc. are not handled by the Tax Commissioner. In

these cases, the person interested in the property must

seek answers in other county and city offices.

An important point that must not be overlooked by the purchaser at a tax sale is that other taxes might be

unpaid. If the parcel of land is located in a

city that collects their own taxes, the city taxes could be unpaid

as well. It is also possible that additional county taxes have become delinquent since proceedings first

began on the parcel you are considering.

Can you lose money? Maybe! One can obtain

a bad deed or title at a sale, whether from an individual or

from a tax sale. It is recommended that those contemplating purchasing property at a tax sale consult an

attorney, assure that the title is good, verify the information gathered, read those sect

ions of Georgia law

pertaining to tax sales, and attend sales to become familiar with the proceedings.

The buyer at a tax auction is responsible for proper processing of documents concerning the foreclosure

of the owner’s right to redeem and those documen

ts concerning the right of redemption. The Tax

Commissioner’s Office prepares and records the Tax Deed and the Real Estate Transfer Tax form after

the sale.

) Tax Sale Proce dures

http://www.fultoncountytaxes.org/fultoniwr/13a_property_tax_sales.htm

The Fulton County Tax Commissioner’s Office follows certain procedures when it levies upon a piece of

property. These procedures are prescribed by the Official Code of G

eorgia Annotated (O.C.G.A.). You will

see code sections referenced throughout this information. These references are a starting point for your

research and are by no means a complete listing. It is strongly suggested that you read those sections of

Georgia

law which pertain to Tax Executions and Tax Sales. O.C.G.A.§ Title 48

Revenue and Taxation,

Chapter 3

–

Tax Executions, and Chapter 4

–

Tax Sales, contain important information. Also read and

research those Opinions of the Attorney General and Judicial

Decisions that are shown after each code

section. These opinions and court cases are extremely important and must be taken into consideration

when interpreting these laws. Each procedure and reference code section to which you may refer will be

explained.

)

Fieri Facias (Fi.

Fa.)

http://www.fultoncountytaxes.org/fultoniwr/13b_property_tax_sales.htm

A Fi.Fa. (short for fieri facias

–

a Latin term for “cause it to be

done” and also used interchangeably with

Tax Execution

Execution

) is a tax lien or writ, authorizing the Sheriff or Ex

Officio Sheriff to obtain

satisfaction of unpaid taxes by levying on and selling the delinquent taxpayer’s property. These

documents a

re recorded on the General Execution Docket (“GED”) of the Clerk of Superior Court

(O.C.G.A.

§ 48

1 and 48

3).

) Authority to Sell

http://www.fultoncountytaxes.or

g/fultoniwr/13c_property_tax_sales.htm

The Fulton County Tax Commissioner also serves as Ex

Officio Sheriff of Fulton County. Each Ex

Officio

Sheriff or Deputy Sheriff as appointed by the Sheriff has full power to advertise and bring property to sale

r the purpose of collecting taxes due the state and county (O.C.G.A.§ 48

55).

Taxes due the state and county are not only against the owner but also against the property regardless of

judgments, mortgages, sales, or encumbrances. Taxes constitute a gene

ral lien upon all property of a

Rogue Tax Sale Investor

291

taxpayer and the lien attaches on January 1st of each tax year, even though a Fi.fa. has not been issued

(O.C.G.A.

§ 48

56 and 48

28).

) 30

Day Notice Before Issuing Fi.

Fa.

http://www.fultoncountytaxes.org/fultoniwr/13d_property_tax_sales.htm

After the due date for payment of real estate taxes, the Tax Commissioner shall notify the taxpayer in

writing that the taxes are outstan

ding, and unless taxes are paid within thirty (30) days, an execution

(Fi.fa.) will be issued (O.C.G.A.§ 48

3).

(

) Issuance and Recor dation of Fi.

Fa.

http://www.ful

toncountytaxes.org/fultoniwr/13e_property_tax_sales.htm

At any time after the 30

day notice has elapsed, the Tax Commissioner shall issue an execution (Fi.fa. or

tax lien) against the owner and the property. The execution (fi.fa.) is directed “to all an

d singular sheriffs

of this state” (which means Sheriffs or Tax Commissioners who serve as Ex

Officio Sheriffs) and shall

direct them to seize and sell the property of the delinquent taxpayer to satisfy the delinquent taxes. The

property shall be plainly d

escribed on the execution (Fi.fa.). The execution also bears interest at the rate

of 1% per month from the date the tax was due. The execution (Fi.fa.) is then recorded on the General

Execution Docket (GED) of the Clerk of Superior Court.

(

Levy

http://www.fultoncountytaxes.org/fultoniwr/13f_property_tax_sales.htm

When real estate is levied upon, the levy officer who acts as an Ex

Officio Deputy Sheriff is directed

by a

tax execution to seize and sell the property to satisfy the delinquent taxes. The Ex

Officio Deputy Sheriff

must give 20 days

’

written notice before advertising to the owner, tenant, holder of the security deed, IRS,

Georgia Department of Revenue and

Labor and EPD or EPA (if outstanding federal tax liens or state of

Georgia liens, EPD or EPA liens exist). This levy notice is delivered by certified mail and if we cannot

affect service by certified mail (mail returned unclaimed or undeliverable), this no

tice is delivered to the

owner and/or tenant in person. The levy shall state the owner’s and/or mortgage holder’s name, the tax

years delinquent, the principle amount of taxes due, the accrued cost due, and a description of the

property to be sold (O.C.G.A

.§ 48

55, 48

1, 48

6, 48

9, 48

10, 48

3, 48

27, 48

161, 9

13).

) P ointing Out Privilege

http://www.fultoncountytaxes.org/fultoniwr/13g_property_ta

x_sales.htm

If the property being levied upon is a house and lot, then the Tax Commissioner routinely seizes it all.

However, if a larger parcel is being levied, it may not be prudent to sell all of it, and a portion may be set

aside for levy purposes.

The delinquent taxpayer may select the property to be sold. This is known as the

“pointing out privilege.” However, it is at the discretion of the Ex

Officio Deputy Sheriff to levy on

additional property whenever it is deemed necessary to secure prompt col

lection of delinquent taxes

(O.C.G.A.§ 48

4).

) Advertising

http://www.fultoncountytaxes.org/fultoniwr/13h_property_tax_sales.htm

All properties to be auctioned

for delinquent taxes are advertised for four (4) consecutive weeks prior to

the first Tuesday of the month. These advertisements are placed in the legal section of the Fulton Daily

Report under the heading “704 Non

Judicial Tax Sale.” Their website is

www.fultonlegals.com

. Each

advertisement shows the owner’s name, a description of the property to be sold, and the amount of tax

due (O.C.G.A.

§9

140; 9

141, 9

142 and 48

55).

) 10

Day Notice to Owne

http://www.fultoncountytaxes.org/fultoniwr/13i_property_tax_sales.htm

At least 10 days before a tax sale, the owner is sent written notice by certified mail informin

g of the

impending tax sale (O.C.G.A.

§48

1).

Rogue Tax Sale Investor

292

) Courtesy Starting Bid List

http://www.fultoncountytaxes.org/fultoniwr/13j_property_tax_sales.htm

Courtesy lists a

re provided before the auction. A final list of properties for sale and the starting bid prices

will be available in the Tax Commissioner’s Office on the day of sale.

The courtesy tax sale listings are updated monthly.

Judicial In

Rem Tax Foreclosures:

http://www.fultoncountytaxes.org/fultoniwr/SalesListings/JudicialIn

RemTaxForeclosures.pdf

Non

Judicial Tax Sale:

http://www.fultoncountytaxes.org/fultoniwr/SalesListings/Non

JudicialTaxSale.pdf

) P ayment

http:/

/www.fultoncountytaxes.org/fultoniwr/13k_property_tax_sales.htm

Payment is required in full upon conclusion of the tax sale. Payment must be in the form of cash, certified

check, cashier

’

s check, or money order. The purchaser must sign a statement attes

ting to the fact that

certain property was purchased for a certain price.

Immediately following the conclusion of the tax sale all purchasers must remit full payment to this office.

After all payments are processed, preparation of the Tax Deed and the Rea

l Estate Transfer Tax form will

begin. These documents are normally filed/recorded by Friday afternoon following the tax sale.

According to O.C.G.A.

170, any person who becomes the purchaser of any real or personal

property at any sale made at publ

ic outcry who fails or refuses to comply with the terms of the sale when

requested to do so, shall be liable for the amount of the purchase money. It shall be the Tax

Commissioner’s option either to proceed against the purchaser for the full amount of the

purchase money

or to resell the real or personal property and then proceed against the first purchaser for any deficiency

arising from the sale.

) S ale Closing

http:/

/www.fultoncountytaxes.org/fultoniwr/13l_property_tax_sales.htm

After the tax sale, written notices will be sent to the tenant, owner, mortgage company, IRS and the

Georgia Department of Revenue and Labor (if applicable) informing them the property was

sold. The

purchaser’s name and address are provided according to (O.C.G.A.

§9

160, 9

161, 9

166, 48

55, 48

1, 48

3, 48

4, 48

6, 48

20).

(

) After t he Tax S ale

(

a) Payment of Excess Funds

http://www.fultoncountytaxes.org/fultoniwr/11e_depts_property_taxes.htm

If there are any excess funds after paying taxes, costs, and all expenses of sale, the Tax Commissioner

or Tax Collector may file an Inte

rpleader Action in the Superior Court for the payment of the amount of

such excess. Such excess shall be distributed by the Superior Court to intended parties, including the

owner as their interest appears and in the order of priority in which their intere

st exists. This is the practice

in effect in Fulton County.

(

b) Rights of Redemption and the Amount Payable for Redemption

http://www.fultoncountytaxes.org/fultoniwr/15b_a

fter_tax_sales.htm

When real property is sold at a tax sale, whether to an individual or to Fulton County, the owner, creditor,

or any person having an interest in the property may redeem the property from the holder of the tax deed.

After July 1, 200

2, the owner, creditor, or any other person with interest in the property, must pay the tax

deed purchaser, the amount paid for the property at tax sale, plus 20% premium for the first year or

fraction of a year, plus any taxes paid on the property by the

purchaser after the sale, plus any special

Rogue Tax Sale Investor

293

assessment on the property, and a 10% premium of the amount for each year or fraction of a year, which

has elapsed since the date of sale plus costs. A premium of 20% must also be paid when Fulton County

is the pu

rchaser (O.C.G.A.

§ 48

42).

The owner, creditor, or any other person with an interest in the property may redeem the property at

anytime during the twelve (12) months following the tax sale. The purchaser of the tax deed cannot take

actual possession of

the property during this time and the tax deed purchaser is not authorized to receive

rents or make any improvements to any structure on the property or grade any lot prior to this time.

When the property has been redeemed (all monies due the purchaser p

aid as prescribed by law), the

purchaser shall then issue a quitclaim deed to the owner of the property (as stated on the Fi.fa.) releasing

the property from tax deed.

This redemption of the property shall put the title conveyed by the tax sale back to th

e owner, subject to

all liens that existed at the time of the tax sale. If the redemption was made by any creditor of the owner

or by any person having any interest in the property, the amount expended by the creditor or the person

interested shall constit

ute a first lien on the property (O.C.G.A.§ 48

21, 48

40, 48

41, 48

42, 48

43, and 48

44).

c) Notice of Foreclosure Right to Redeem

http://www.fultoncountytax

es.org/fultoniwr/15c_after_tax_sales.htm

After twelve (12) months from the date of tax sale, the purchaser at the tax sale may terminate or

foreclose on the owner’s right to redeem the property by causing a notice or notices of the foreclosure to

be ser

ved by certified mail to the owner of record and to all interest holders which appear on the public

record. In addition, the notice of foreclosure is to be published in the county in which the property is

located, once a week for four (4) consecutive weeks

during the six

month period immediately prior to the

week of the redemption deadline date specified in the notice.

If the redemption is not made until after the notice has been given, then the cost of serving the notice or

notices and publishing the noti

ce shall be added to the redemption price to cover the cost of making the

necessary examinations to determine the persons upon whom notice should be served (O.C.G.A.§ 48

42, 48

45 and 48

46).

Any questions about this foreclosure process should be re

ferred to an attorney.

d) After the Right of Redemption is Foreclosed

http://www.fultoncountytaxes.org/fultoniwr/15d_after_tax_sales.htm

After foreclosing the right of

redemption, it is recommended that the purchaser seek legal advice

regarding the petition to quiet title in land, pursuant to O.C.G.A.

§ 23

60.

Under the action, the petitioner (tax deed purchaser) makes a request to the court to take jurisdiction over

the matter. The court then appoints a Special Master (third party) to examine the petition and exhibits to

determine who is entitled to notice. The petitioner will then ask the court to issue a decree establishing

his/her title in the land against “all the

world” and that all “clouds to petitioner’s title to the land be

removed” and that said decree be recorded as provided by law.”

e) Ripening of the Tax Deed Title by Prescription

–

An Alter native Method

http://www.fultoncountytaxes.org/fultoniwr/15e_after_tax_sales.htm

The term prescription refers to a process whereby, over a period of time a tax deed becomes a fee simple

title. This process promotes an alternative meth

od to obtain fee simple title without the legal intricacies of

the foreclosure process.

A title under a tax deed properly executed at a valid and legal sale prior to July 1, 1989, shall ripen by

prescription after a period of seven (7) years from the date

of execution of that deed (O.C.G.A.§ 48

48).

Rogue Tax Sale Investor

294

A title under a tax deed executed on or after July 1, 1989, but before July 1, 1996, shall ripen by

prescription after a period of four (4) years from the execution of that deed (O.C.G.A.§ 48

48).

A title

under a tax deed properly executed on or after July 1, 1996, at a valid and legal sale shall ripen by

prescription after a period of four (4) years from the recordation of that deed in the land records in the

county in which said land is located (O.C.G.A.

§ 48

48).

Notice of foreclosure of the right to redeem is not required in order for the title to ripen by prescription. In

order to protect your tax sale investment, subsequent taxes should be paid.

A recent Georgia Supreme Court Decision, [Blizzard v.

Moniz, 271 Ga. 50, 518 S.E. 2d 407 (1999)] has

rendered "ripening by prescription" (O.C.G.A. §48

48) inapplicable to tax sale purchases in most cases.

The Court determined that actual possession of the property is necessary for a tax deed to convey fee

simple title to the property absent the process of barring or foreclosing the right of redemption.

f) Subsequent Tax Sales

http://www.fultoncountytaxes.org/fultoniwr/15f_

after_tax_sales.htm

Until the right of redemption has been foreclosed or the title has ripened by prescription, a tax deed has

the same force and effect as a lien. Since defeasible title has been conveyed to the tax deed purchaser,

liability for subsequ

ent taxes would be the same as any other superior lien holder. If there is a subsequent

tax sale of the same parcel, the tax deed purchaser will be listed as the owner along with the defendant in

Fi.fa. (record owner) for purposes of levy and sale, despite

not having foreclosed the right of redemption

or having the tax deed ripen by prescription. Therefore, the tax deed purchaser may wish to consider the

best possible avenue to protect their initial tax sale investment.

Important Notice: Repeal of Law

–

ansfer of Tax Executions

Effective May 22, 2002, the Governor signed House Bill 337 (HB 337), as passed by the General

Assembly to repeal O.C.G.A.

§48

19, which provided for the transfer of tax executions to private third

parties.

Important Update No

tice

–

Transfer of Tax Liens

Effective November 12, 2002 per Superior Court Mandamus Order, the Transfer of Tax Liens continues

as follows:

Instructions for Transfer of Tax (FiFa) Executions

(Window under Mandamus Order dated November 12,

2002)

All ta

x execution transfers take place under a demand and are transferred under the "Caveat

Emptor Principle

(buyer beware). Once you become the transferee, you hold the lien and no provision

exists for a refund or filing for a refund.

**Guaranteed Payment (

ash or bank check

) and Completed Request to Transfer must be submitted to

and processed by a Delinquent Staff Employee.

Do not attempt to

pay

cashier

without Delinquent Staff review.

Presently, a window exists which allows the transfer of tax executi

ons on demand under a Superior Court

Order. General Conditions for transfer are as follows:

A tax execution must have been Issued and Recorded on the General Execution Docket in the

records of the Clerk of Superior Court. The execution must exist to be t

ransferred.

Guaranteed Payment in the form of

cash, bank check or postal money order

required.

Credit

cards, letters of credit, or foreign f

unds are not accepted.

Request must be made in person. Transfers cannot be completed by

mail or email.

Upon compl

etion of a request to transfer tax liens by a delinquent staff employee and presentation of

proper payment, the transfer(s) will be completed.

Rogue Tax Sale Investor

295

Upon receipt of the transferred tax execution(s),

you must have them entered on the General Execution

Docket (G

.E.D.) with the Clerk of the Superior Court. Timely recording of the transfer(s) should occur.

Upon your receipt of the properly recorded FiFas back from the Clerk, you then may attempt to collect the

tax and, if unsuccessful, you may take the recorded F

iFas to the Sheriff's Office for levy and sale. You will

be required to follow specific guidelines as set by the Sheriff. This generally requires submission of a

Certificate of Title covering a specific minimum period of years,

copies of all pertinent deed

s, a

ffidavits, or

other instruments conveying or affecting ownership, security of any loan, debt, judgment, estate or

proba

te action, pending litigation, b

ankruptcy, or any other recorded party, interest or event of record. The

names and mailing addresses

of all owners, and all secured parties of record must be submitted to the

Sheriff pursuant to Notice requirements under O.C.G.A.§48

9. Failure to provide the Sheriff all

information may prevent or invalidate the sale of the property. Once you provide the

FiFas and all

required information to the Sheriff, a sale can be scheduled. The length of time it takes the Sheriff to

schedule a sale can vary. The Sheriff has to have all of the procedures completed and advertised so the

sale takes place on the first Tu

esday of the sale month. The sale of the property will be to the highest

bidder for

cash

. You may purchase the property at sale. The tax sale purchaser will be given a tax deed.

The owner or any secured party has twelve (12) calendar months after sale to

redeem the property from

the tax sale purchaser. At any time during the year and (45) days, the owner or secured party may

redeem the property. They are required to pay all of the money that the purchaser paid at the sale, plus a

premium (applicable to sa

les after July 1, 2002) of twenty per cent (20%) the first year and ten per cent

(10%) each year thereafter.

If the owner or secured parties do not contact the purchaser of sale within these 12 months to redeem the

property, you can send him another cert

ified letter, return receipt requested, advising him that you intend

to bar his right to redeem the property. He has forty

five (45) days to respond. At the end of the forty

five

(45) days, if they have not contacted you and made arrangements to pay during

this period, they are

usually forever barred from coming back and your having to allow the owner or secured party to redeem.

At this point the purchaser (Holder of Tax Deed) can request the Sheriff put him in possession of the

property. If you take no act

ion to bar the right of redemption, the Sheriff's deed ripens in four (4) years

from date of recording. (O.C.G.A.

§48

48).

Please read the following paragraph carefully.

Investments in tax fifas and tax delinquent properties are speculative. Even afte

r a tax sale, the property

owner and second lien holder have certain rights, including the right of redemption. If you are unfamiliar

with the law regarding fifa transfers and tax sale, you are encouraged to seek legal advice. These

Instructions only brief

ly describe the process, and are not to be read or taken as legal advice. Neither

Fulton County nor any official or employee of Fulton County, including, without being limited to, the Tax

Commissioner and Sheriff, guarantees that any fifa will be satisfied

or that any property will be purchased

at sale. You are not guaranteed or promised that you will recover your investment or that you will recover

any funds in excess of your investment.

If you need to transfer tax liens, download

the FiFa Transfer Reque

st Form:

http://www.fultoncountytaxes.org/fultoniwr/FiFaTransferRequestForm.htm

Delinquent Tax Collections continue as follows:

1. Monthly Judicial In Rem Tax Forec

losure Sales.

a. The owner (no other party) has sixty (60) days to redeem the property after Tax Sale or he/she

loses all rights to the property.

b. Sixty (60) days after the sale if not redeemed, the successful bidder receives a Tax Deed and owns

the prop

erty out right (

fee simple

A party bids on property at this type of Sale (In Rem) because they want the property. There is no

Redemption premium or return on investment.

Monthly Non

Judicial Tax Sales (September 2002 and forward

)

a. The owner or

any interested party of record has a year plus a minimum of 45 days after the Tax

Sale to redeem the property from the tax deed purchaser.

Rogue Tax Sale Investor

296

b. The tax deed purchaser holds “Defeasible Title” and executes a Quit Claim Deed upon payment of

redemption monies

by the owner or interested party. After July 1, 2002, the premium is 20% the first

year or fraction and 10% each year or fraction thereafter. If not redeemed and the tax deed holder

does not foreclose and bar the right of redemption after the first year,

formerly fee simple title vested

after four

(4) years after the date of recording of tax deed. A recent Georgia Supreme Court decision

may affect the title ripening by prescription and may require a Quiet Title action through Superior

Court even after fore

closure and barment to obtain good marketable and insurable title. If you have

any questions, consult with your private attorney or private legal advisor. No Tax Commissioner or

County employee is authorized to advise on any matter relating to Tax Sales ei

ther before or after

Sale.

The following courtesy tax sale listings are updated monthly:

Judicial In

Rem Tax Foreclosures

http://www.fultoncountyt

axes.org/fultoniwr/SalesListings/JudicialIn

RemTaxForeclosures.pdf

Non

Judicial Tax Sale

http://www.fultoncountytaxes.org/fultoniwr/SalesListings/Non

Judic

ialTaxSale.pdf

These listings can only be viewed with Acrobat Reader. Click here to download Acrobat Reader

http://www.adobe.com/products/acrobat/readstep2.html

ROGUE INVESTOR NOTE

: The tax sale lists are available on the data CD that accompanies this

book

(within the file folder “Tax Sale Lists”).

) Overview of an In

Rem Judicial Tax Foreclosure

(O.C.G.A.

§ 48

75 t hrough 48

81)

http://www.fultoncountytaxes.org/fultoniwr/11f_depts_property_taxes.htm

Ad valorem taxes must be delinquent at least 12 months to be eligible for Judicial In Rem Tax

Foreclosure.

A full title search, consisting

of 50 years or more pursuant to Georgia Title Standards, is performed to

determine the current owner of record and any legally interested parties associated with the property.

Several legal documents pertaining to the foreclosure process, which include t

he Petition for Judicial In

Rem Tax Foreclosure and the Notice to Respondents and All Interested Parties, are filed with the Fulton

County Clerk of Superior Court.

An appointed Fulton County Superior Court judge establishes a rule nisi date (hearing date)

. Notice to all

parties is published twice within

30 days

of the hearing, in the Fulton County Daily Report.

At the hearing, the judge will query both the owner(s) and/or any legally interested parties, if present, as

to their intentions to reclaim the pr

operty by paying the tax indebtedness owed to Fulton County. Provided

the judge’s ruling is in favor of Fulton County, the judge will sign an Order, ordering the property to be

sold on the Fulton County Courthouse steps no earlier than 45 days after the he

aring.

Notice of the ensuing tax sale is published in the Fult

on County Daily Report four

consecutive weeks prior

to the date of sale.

Judicial In Rem Tax Foreclosure sales occur on the first Tuesday of each month on the Courthouse steps

of Fulton Count

y, 136 Pryor Street, Atlanta, Georgia 30303. The legal hours of sale are between 10:00

a.m. and 4:00 p.m. Judicial In Rem Tax Foreclosure sales start promptly at 10:00 a.m.

At sale, the minimum bid listed for each property will consist of delinquent taxes

plus any accrued

interest, penalties and fees through the date of sale. Payment must be tendered in the form of certified

funds, cash or a cashier’s check, before 2:00 p.m. the day of sale. In addition, outstanding current ad

valorem taxes must be paid at

the same time the successful bid is paid.

Rogue Tax Sale Investor

297

After the sale, only the cur

rent owner of record has

60 calendar days to redeem the property (pay off

delinquent taxes plus any accrued interest, penalties and fees). If the current owner of record fails to

rede

m in the property in 60

days, the owner loses all rights to the property.

Within

days after the

day redemption period

the bonafide purchaser at sale will be issued a

Judicial In Rem Tax deed to the property. The title to the property will be free a

nd clear from all liens,

claims and encumbrances.

A Report of the Judicial In Rem Sale will be filed with the Superior Court of Fulton County.

Please Note: All properties sold at the Judicial In Rem Tax Foreclosure sale are under the “Caveat

Emptor” (Buy

er Beware) principle. Pursuant to state law, tendering bids at public sales or outcries,

bidders become personally liable and responsible for such bids. We strongly recommend proper due

diligence is performed prior to appearing and attempting to purchase a

property at the tax sale. Please

govern yourself

accordingly.

(

) Sample Letter of Request for Judicial In

Rem Tax Sale Commitment

http://www.fultoncountytaxes.org/fu

ltoniwr/11g_depts_property_taxes.htm

(

) How to Obtain a Paid, Satisfied, and Ordered Cancelled Tax Fi.

Fa.

http://www.fultoncountytaxes.org/fultoniwr/11h_depts_prop

erty_taxes.htm

A paid tax execution must be recorded after payment.

Upon payment in full of delinquent taxes where a tax Fi.fa (execution) has been issued and recorded on

the General Execution Docket in the record of the Clerk of Superior Court, action

is required as follows:

1. The Tax Commissioner will provide the original document(s) to the property owner of party who

pays the tax. The Clerk of Superior Court will not accept a copy for recording.

2. Should the original document not be in file or ca

nnot be located, an “Alias” Fi.fa document as

provided by statue will be prepared and take the place of the original document. It is an original alias

document.

A Notice of Instructions if Provided Prior to Recording:

Important Notice:

The attached “

Ori

ginal

” fifa(s) were recorded on the General Execution Docket located

in the Office of the Clerk of Superior Court of Fulton County. The “

Original

” fifa(s) have been marked Paid,

Satisfied, and Ordered Cancelled. They will, however, continue to show as

en against you and your

property until you send or present the “

Original

” documents to the Clerk o

f Superior Court for recording.

The Clerk will record the cancelled fifa(s) and the General Execution Docket will then show your lien has

been paid.

“Do not

present or send copies to the Clerk.”

To record the Original cancelled fi.fa(s), please follow these guidelines:

1. Write you return address at the top left

hand corner of the Original fi.fa(s).

2. Send the Original fi.fa(s) (copies not accepted) to:

Clerk of Superior Court

Attn: Recording Division

185 Central Avenue SW

Room TG200

Atlanta, Georgia 30303

3. Enclose a check or money order for $5.00 per fi.fa payable to the Clerk of Superior Court.

Rogue Tax Sale Investor

298

You will receive your recorded document(s) back in the

mail in 2 to 4 weeks. If you have additional

questions about the recording of yo

ur cancelled fi.fa(s), please c

ontact the Recording Division of the Clerk

of Superior Court at 404

730

5371.

(8)

Frequently Asked Property Tax Questions

http://www.fultoncountytaxes.org/fultoniwr/11i_depts_property_taxes.htm

When does a Fi.

Fa. (Tax lien) go on t he pro perty?

After the last day of payment of taxes the Tax

Commissioner wil

l notify the taxpayer in writing that the taxes are outstanding and unless taxes are paid

within 30 days, an execution (Fi.

Fa.) will be issu

ed in accordance with O.C.G.A. Section

3. At any

time after the 30

day notice has elapsed, the Tax Commissione

r shall issue an execution (Fi.

Fa.) against

the owner and the property.

When, where, and what t ime is the tax levy sal e?

Tax levy sales are held on the first Tuesday of each

month. If that Tuesday falls on a holiday, the sale will take palace on the foll

owing Wednesday. The sale

is held on the Courthouse steps and usually starts at 10:00 a.m. Legal hours of the sale are between

10:00 a.m. and 4:00 p.m.

When and where do you advertise f or the sale?

Advertisements can be found in the Fulton County

Daily R

eport (

http://www.fcdr.com

) and on the Courthouse steps posting boards.

GWINNETT COUNTY, GEO

RGIA

http://www.gwinnettcounty.com

TAX COMMISSIONER’S O

FFICE

http://www.gwinnetttaxcommissioner.com

(1) Contact Us

https://ssl.gwinnetttaxcommissioner.com/contactus/ContactUs.aspx

Property T

ax Department

Gwinnett Justice and Administration Center

75 Langley Drive

Lawrenceville, GA 30045

Phone:

770) 822

8800

Email:

Tax@gwinnettcounty.com

(2) Tax Lien and Tax Sale General Information

https://ssl.gwinnetttaxcommissioner.com/property/information/TaxLienSale.aspx

The Tax Commissioner is responsible for collection of real and personal property taxes. The T

Commissioner must issue a tax lien (commonly known as an execution or Fi. Fa.) against all delinquent

taxpayers. A tax lien is released only when the delinquent taxes are satisfied in full. The Tax

Commissioner will either collect the tax from the taxpa

yer or levy the property and auction it at a tax sale.

The Tax Commissioner occasionally auctions property at a tax sale for the collection of delinquent taxes.

Tax sale proceedings are held according to the official Code of Georgia (Sections 48

through 48

48). Sales are scheduled the first Tuesday of any given month in front of the courthouse. The bidding

commences with the total taxes, fees, and interest on each parcel. The tax deed is then sold to the

highest bidder. Tax sales are advertised

in Thursday's legal advertisement section of the Gwinnett Daily

Post. The newspaper ad is run once a week for four weeks prior to the sale. We also advertise on the

cable government TV channel. We do not have a mailing list for tax sale information.

he transfer of tax liens and the sale of property with attached tax liens are at the sole discretion of the

Tax Commissioner. The decision to transfer liens or to sell properties with tax liens attached has not been

made for 2007 or 2008. Once that decisio

n is made it will be posted on this site, or you may contact our

Customer Service Center.

Rogue Tax Sale Investor

299

To contact Customer Service, please click here:

https://ssl.gwinnetttaxcommissioner

.com/contactus/ContactUs.aspx

Tax Sale Guide

The following information is for the first time buyers. It is generic information on how to select properties

and the rights associated with the tax deed.

Research P roperties Before the Tax Sale:

One of t

he first things to consider before investing in tax sale

properties is to research the property that you are interested in purchasing. Before a property is

advertised to be sold, the Tax Commissioner or other firm must conduct a diligent title search on th

property. Following the search we must notify all interested parties or lien holders. This process

eliminates much of the burden of the tax sale purchaser. Keep in mind, when a property is sold at a tax

sale, all liens are erased once foreclosure is comp

leted; this includes mortgages, liens, and federal tax

liens. However, these interest holders are entitled to redeem the property within 12 months of the tax sale

(sale of property). It is strongly suggested that all buyers go to see the property in person

, review the

warranty deed, and review the mapping located in the Tax Assessor’s Office.

Redemption Rights:

It is your responsibility as a purchaser of a tax sale property to foreclose the right of

redemption on that property. Georgia Code Sections 48

40 through 48

48 outlines the complete

process. The following is a condensed version of these codes:

When real property is sold under a tax execution (sold at tax sale), the original taxpayer or any persons

having a right, title, interest in, or lien u

pon the property may redeem the property at any

time within 12

months from the date of the purchase at tax sale by paying the redemption price. The property may be

redeemed at any

time during this period until the tax sale purchaser terminates the right to

do so by giving

proper legal notice. The 12

month limit does not begin, however, until the tax purchaser pays the amount

that he or she bid. The tax purchaser is not prohibited from consenting to redemption after the statutory

period has expired, and as a

matter of grace granting such a privilege.

Redemption Price:

The redemption price to be paid to you, if the original debtor chooses to redeem, is

the amount paid for the property at the tax sale, plus 20% of the amount for the first year, or fraction of

year thereafter, elapsing between the sale date and the date the redemption is made and 10% for each

year or fraction of the year thereafter, plus any tax paid on the property during this period by the tax

purchaser after the sale. If redemption is not

made within the 30 days, and after the notice terminating the

right to redeem has been properly issued and advertised, there must be added to the redemption price

the sheriff's cost of serving notice and the cost of publishing the notice. All amounts compr

ising the

redemption price are paid to you, the tax sale purchaser.

Aft er Redemption Period Has Expired:

The tax sale purchaser is to make original notice in accordance

with a form shown in the statutes and provide a copy for each person to be served. Th

e purchaser is to

deliver these, together with a list of persons to be served, to the sheriff of the county in which the land is

located, not less than 45 days before the date set in the notice for termination of the right of redemption.

Within 15 days, th

e sheriff must serve a copy of the notice upon all persons on the list residing in the

county and make an entry of such service on the original notice. Leaving a copy of the notice at the

residence of any person required to be served is considered sufficie

nt service. If the sheriff makes an

entry that he or she has been unable to serve the notice on any person, the purchaser must immediately

have it published in the official county newspaper once a week for two consecutive weeks. This

constitutes service.

Upon payment of the sheriff’s cost, the original notice must be returned to the tax sale purchaser. The

notice and entries on it may be recorded on the deed records in the Clerk of Superior Court’s Office in the

county in which the land is located.

In t

he event that the property is redeemed by the original debtor or interested parties (mortgage

companies, banks, or lien holders, etc.), the tax sale purchaser must make a quitclaim deed (Release of

Claim) to the original delinquent taxpayer, reciting, amon

g other things, who paid the redemption money.

The redemption of the property gives back to the original delinquent taxpayer the title conveyed by the tax

sale, subject to all liens existing at the time of sale.

Rogue Tax Sale Investor

300

If the redemption is made by a creditor of

the original delinquent taxpayer or other persons having interest

in the property, the amount expended by either constitutes a first lien and must be paid prior to any other

claims on the property. However, it is necessary that the quitclaim deed have been

properly recorded in

the Clerk of Superior Court’s Office.

The purchaser of a tax sale property may sell the property before the redemption period has expired.

However, the person buying from the tax sale purchaser acquires the defeasible (i.e., can be

annulled)

title of the tax sale purchaser, subject to the right of the original delinquent taxpayer to redeem it within

the period prescribed by law (12 months).

As noted above, the purchaser receives only a defeasible title before the redemption period

expires.

However, the purchaser acquires sufficient interest in the property to render him or her liable for the taxes

that become due on it.

No tax sale purchaser is entitled to rents and profits arising from the property during the redemption

period. A

tax sale purchaser may obtain a court order to enable them to make improvements upon the

property in the event the improvement is aimed at the preservation of the value of said property (i.e., a

leaking roof that is causing water to damage a home).

Ati

tle under a tax deed shall ripen by prescription after a period of four years from the date of execution.

However, see your local real estate attorney to inquire about a quiet title action. Notice of foreclosure of

the right to redeem property sold at the

tax sale shall not be required to have been provided, in order for

the title to such property to have ripened.

The information contained within this website is only a broad overview of the tax lien, transfer, and sale

procedures and is being provided sol

ely as a public service to the members of the general public. If you

need specific information, we suggest you seek legal counsel specializing in real estate transactions.

Rogue Tax Sale Investor

301

Hawaii

Tax Lien Sales:

Tax Deed Sales:

Yes

Over

the

Counter Tax Deed Sales:

Rating:

Two Stars (**)

Interest Rate:

12% (s

ee Redemption Period below

)

Sale Period:

Varies by county

Redemption Period:

There is a one

year

extended

right of redemption

period

following

the

tax

deed sale.

State law allows for a 12% per year fee to the investor if the taxes are redeemed.

Bidding Process:

At tax deed sales, all auctions are by competitive bid.

The w

inning bidder

pays

the

highest value for

the

property.

State

Specific Information:

Hawaii

only has five counties. In contrast to the other four

counties, Kalawao County’s tax sales are handled by the state, through the State Department of

Taxation

(

http://www.state.hi.us/tax

), P.O. Box 259,

Honolulu

Hawaii

96809

0259, phone:

(

808)

587

4242

Hawaii County Links:

See Hawaii Tax

Sales

http://www.tax

lien

certificates.com

Detailed County

Specific Information

CITY AND COUNTY OF

HONOLULU, HAWAI

http://www.co.honolulu.hi.us

TREASURY DIVISION

(within

Budget & Fiscal Services Department

)

http://www.co.honolulu.hi.us/budget/trea

sury_division.htm

City Hall (Honolulu Hale)

Division o

f Treasury

530 South King Street, Room 115

Honolulu

,HI

96813

Email:

bfstreasmailbox@honolulu.gov

ROGUE INVESTOR NOTE

: According to the Divisio

n of Treasury, a

tax sale is conducted once a year.

The next auction is scheduled for May 14, 2009

Notices are published in the Honolulu Star

Bulletin as

determined by the office of the State Controller.

Real property with outstanding taxes due not paid i

n full

up to the time of sale is au

ctioned to the highest bidder.

The entire bid amount is to be paid in full at the

time of sale.

An upset price is established by the amount of tax, penalty and interest accrued to the

auction date, plus the cost of forecl

osure, and other incurred charges.

A tax deed is issued to the

purchaser within 60 days from the date of the public auction sale.

A delinquent taxpayer/owner may

redeem the property within one (1) year from the date of sale, or if the deed was not recorded

within 60

days after the sale, then one (1) year from the date of recordation.

To receive a current foreclosure list,

send your request along with a sel

addressed stamped envelope to the Division of Treasury, Accounts

Receivable Section.

Rogue Tax Sale Investor

302

HAWAII COUNTY, H

AWAII

http://www.hawaii

county.com

REA L PROPERTY TAX DIVISION

http://www.hawaii

county.com/real_property_tax/rpt_main.htm

Wesley

Takai, Administrator

East Hawaii

Aupuni Center

101 Pauahi Street, Suite 4

Hilo, HI 96720

Phone:

(808) 961

8201

Fax: (808) 961

8415

West Hawaii

5706 Kuakini Highway, Suite 112

Kailua

Kona, HI 96740

Phone: (808) 327

3540

Fax: (808) 327

3538

(1) List o

f P arcels for Tax Sale

http://www.hawaii

county.com/real_property_tax/taxsale.pdf

There is no list available for the next Real Property Tax Sale. We will

make the list available

on the web

site four weeks before the auction. The

date of the sale is yet to be determined.

REA L PROPERTY TAX OFFICE

http://www.hawaiipropertytax.com

This site was designed to provide quick and easy acc

ess to real property tax assessment records and

maps for properties located in the County of

Hawaii

and related general information about real property

tax procedures.

(1) Tax Sales Frequently Asked Questions

from

http://www.hawaiipropertytax.com

, click on “Tax Sales FAQs

”

What are

the date, time and location of the tax sale?

ates, time and location are subject to change

with each sale.

When and where are the sales advertised

In the Hawaii Tribune Her

ald, Honolulu Star

Bulletin, and

West Hawaii Today. The first printing is four (4) weeks before the sale and again weekly. You may also

find the "Notice of Proposed Sale of Real Property for Failure to Pay Real Property Taxes Due Thereon"

our web sites:

http://hawaiipropertytax.com

–

click

on "County" at the top right hand corner, then click

on "Real Property Tax

then look for "Web Site Link;”

click on "Notice of Proposed Sale of Real Property";

http://hawaii

county.com

–

click

on "Real Property Tax

then look for "Web Site Link;”

click on "Notice

of Proposed Sale of Real Property

For general information with regard to ownership, values, and size of parcel et

visit

www.hawaiipropertytax.com

on the W

eb.

How and when do I register for the sale?

There is no registration. Live auction.

What type of payme nt requirements are needed at the sale?

Cash, money orders, tra

veler's checks or

cashier's checks. No personal checks.

No credit cards.

Is payment in full required on the day of the sale?

Yes, immediately following the successful bid.

Does your county offer a financing program?

No.

Rogue Tax Sale Investor

303

What type of document is issued at

the sale?

Tax deed.

Once a property is acquired through the sale, is there a redemption period before you can take

possession?

Yes. One year from the date of the sale.

If there is a redemption period, does the investor earn interest duri ng the redemptio

n period?

Yes.

12% is the annual interest rate.

Do you allow investors to invest at the sale without attending the sale (i.e., absentee bidding)?

No.

Persons bidding at the auction as representatives or agents of others will be required to present notariz

documents showing such authorization to bid on behalf of those parties they represent.

Is there a charge for the list of current properties on the tax sale?

Yes. The charge is $1.00 per list.

Do you keep a mailing list?

No. A self

addressed, stamped e

nvelope with 2 oz. postage and a charge

of $1.00 is required for each list. Although this office does not keep a maili

ng list, we will keep your self

addressed, stamped envelope on file for the next tax sale.

KAUAI COUNTY, HAWAII

http://www.kauai.gov

REA L PROPERTY TAX DIVISION

(within Department of Finance)

http://www.kauai.gov/realproperty

Real Property

4444 Rice Street, Suite 454

Lihue, HI 96766

Phone: (808) 241

6222

(1) Collections

http://www.kauai.gov/Government/Departments/Finance/RealProperty/Collections/tabid/179/Default.aspx

Announcements

2008 Tax Sale Instructions

–

Tuesday, March 25, 2008

2008 Tax Sale Instruction Sheet, read more at

http://www.kauai.gov/LinkClick.aspx?fileticket=QcLs85suXbw

%3d&tabid=179&mid=2192

(2) 2008 Tax Sale Instruction Sheet

http://www.kauai.gov/LinkClick.aspx?fileticket=QcLs85suXbw%3d&tabid=179&mid=2192

County of Kau

Proposed Sale of Real Property

–

Date: November 13, 2008

1. All foreign or out

state corporations must have complied with Chapter 414

433 thru

414

437

Hawaii

Revised Statues, relating to registration of out

state corporations and

their acquisitio

n of real property

Hawaii

2. Persons bidding as representatives or agents of others will be required to present

notarized documents

showing such authorization to bid on behalf of those parties they

represent.

3. Sale must be for an amount equal to or

more than the total upset price. The upset price

is established

by the amount of tax, penalty, and interest accrued to date of the auction,

plus the cost and other charges

incurred.

Rogue Tax Sale Investor

304

4. Real Property with outstanding taxes due not paid in full up to the t

ime of sale is

auctioned to the

highest bidder. Payment of the full bid amount must be made in

cash or cashier’s checks

drawn on a U.S.

bank and made payable to the Director of

Finance.

5. A credit memo will be given for any check amount that exceeds bid

amount. In such

case, credits can

also be recorded with sales officials at time of first purchase and

excess can be bid on additional lots.

6. Owners have the right to redeem their properties within one (1) year from the date of the

sale, or if the

deed w

as not recorded within 60 days after the sale, then one (1) year

from the date of recordation. The

delinquent taxpayer/owner must pay the purchase

price, cost and expenses, the fee for recording the

deed, and interest of twelve per cent

(12%) per annum to

the successful bidder to redeem the property.

The owner must

make arrangements for redemption directly with the purchaser. HRS. §246

60.

7. Tax deed will be prepared by the County and forwarded to the purchaser for recordation

with the

Bureau of Conveyanc

es. There is a recording fee that must be paid to the

Bureau of Conveyances when

recorded by the purchaser.

8. The following recordation information is required:

a. Identity and address of the recipient of the deed;

b. The exact full name and marital sta

tus of the grantee; that is, in whose name the

deed is to be

drawn up; and

c. The tenancy in which the ownership is to be held.

9. Bidders must give clear distinct bids. In closing the sale, the auctioneer will announce

the final bid

amount “once”, “twice

”, “sold for $_____”.

10. Delinquent taxpayer/owner and others having or claiming to have any right, title or

interest in the

property must file a claim to any surplus funds.

11. The County Real Property office web

site address is:

www.kauaipropertytax.com

12. The foreclosure list will be made available in October 2008 when the first ad breaks.

You may obtain

a foreclosure list by visiting the County of Kauai website

www.kauai.hawaii.gov

. If you do not have

access to the internet, you may request a

hard copy by

sending your request along with a self

addressed

stamped envelope and

a check for the copy charge of $0.50, per page (please call for the total amount

)

to:

County of Kauai

Real Property Tax Collections

4444 Rice Street

Suite 463

Lihue HI 96766

13. Each County is responsible for

its

own tax sale and inquiries:

City and County of

Honolulu

Division of Treasury

Delinquent Collection Section

530 South

King Street, Room 115

Honolulu

, Hawaii

96813

County of Maui

Real Property Tax Division

Service Center, Suite 16

70 E.

Kaahumanu Ave

nue

Kahului Maui

HI 96732

County of Hawaii

Real Property Tax

Aupuni Center

101 Pauahi St

reet,

Suite 4

Hilo, HI

96720

14.

For further information, call the Real Property Tax Collection Section at (808) 241

6555.

Rogue Tax Sale Investor

305

Idaho

Tax Lien Sales:

Tax Deed Sales:

Yes

If property is not sold or is not bid upon

the

public auction, then

the

county may

sell

the property

thout further notice at a

public or private sale

Over

the

Counter Tax Deed Sales:

Rating:

Two Stars (**)

Interest Rate:

Not applicable to

Idaho’s

tax deed sales

Sale Period:

No scheduled sales.

Each county handles tax deed sales differently and u

sually

holds delinquent properties until an interested buyer shows up.

Redemption Period

There is no

extended

right of redemption

following the

tax deed sale.

Bidding Process:

Property is sold to the highest bidder.

Some counties are now conducting tax

deed sales online.

Financing is allowed through a contract with the county

not to exceed

aterm

10 years.

Legal Challenge Period:

There

is a

one

year period

following the tax sale

in which the property

may be redeemed if the tax deed process is prove

ntobeirregular.

State

Specific Information

If property taxes on

real property become three

years delinquent,

the county takes title to the property through a process called "tax de

ed." The C

ounty

Commissioners control the decisions to sell property ac

quired through tax deed.

The

ommissioners set what they deem to be a reasonable minimum bid based on the information

provided by the Treasurer and the Assessor and based upon their own inspection of the

property and opinion regarding its potential usage a

nd value.

Idaho County Links

See Idaho Tax Sales at

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

ADA COUNTY, IDAHO

http://www.ada

web.net

TREASURER’S OFFICE

http://www.adaweb.net/departments/treasurer

(

from

http://www.adaweb.net

, click on “Treasurer” under

the header

“Elected Offic

es”)

Cecil Ingram

, Treasurer

200 West Front Street, Suite 1220

New Ada County Courthouse

1st Floor

Boise, ID 83702

Mailing address

:P.

O. Box 2868

Boise, ID 83701

2868

Phone:

(208) 287

6800

Fax: (208) 287

6809

mail:

propertytaxquestions@adaweb.net

Rogue Tax Sale Investor

306

(1) Tax D eed Process

http://www.adaweb.net/departments/treasurer/TaxDeedProcess.asp

Tax Deed Process

Overview

Idaho

Code

Sections 63

1003

–

1011

About Real Property Tax Delinquencies (63

1003):

Any delinquency on real property taxes constitutes

a perpetual lien against the property in favor of the county for all taxes, late charges and interest. The lien

stands until all

delinquent amounts owing are paid in full.

Property tax delinquency takes a top priority over all other liens ("

a first and prior perpetual lien")

Tax

Lien Certificates are

not

sold in the State of Idaho. Some states "sell" tax lien certificates to par

ties willi

to pay the tax delinquency,

Idaho does not. We do not provide information to investors regarding the laws

and practices of other states regarding tax delinquencies.

"Redemption" of the lien(s) occurs when the delinquent property taxes are pai

d in full.

The Tax Deed Process:

On January 1st the Tax Deed Clerk orders a listing of all three

year real

property delinquencies and begins working to identify, notify and warn the owner and all "parties in

interest" that Ada County will take tax deed to

the parcel if the delinquency is not paid.

The t

axpayer must pay the third

year d

elinquency in full to stop the tax d

eed

rocess. Partial payments

will be accepted and applied at

any time but will not stop the t

eed action unless the third year

delin

quency is paid in full.

As soon after January 1st as possible, the date for hearing is set. The tax deed hearing will be held in

either January or February of the following year. As soon as the hearing is scheduled the tax deed

calendar is created, worki

ng backward from the hearing date. The Tax Deed Calendar includes the

following events (Idaho Code reference in italics indicates statutory requirement

other steps are policies

of the Ada County Treasurer's Office which satisfy statutory requirements of

notification and due

diligence). Click here for the 20

05 Delinquent Tax Deed calendar:

http://www.adaweb.net/departments/treasurer/documents/TAXDEEDCALENDAR2005.

doc

Letter

warning of "Pending Issue" date. (A

t least 2 months prior to Pending Issue

)

"Bid" letters sent out to title companies, requesting bids for providing title reports on tax deed

parcels. The law requires that we notify all parties in interest.

The title report lists parties holding

recorded legal interest in the property. (2

3 weeks prior to Pending Issue.)

Guaranteed funds

–

cash,

cashier's check or wire transfer

required to stop notice of pending

issue. (15 days prior to Pending Issue

)

Pend

ing Issue Fee is attached.

(5:00 p.m.

the night before the notice of Pending Issue is printed;

see

below

) The law allows the Treasurer's office to attach this fee to recover the costs of the tax

deed process so that other taxpayers are not required to bea

r this

burden. (Current Pending

Issue f

$500

)

Notice of Pending Issue of Tax Deed

mailed to owner a

nd interested parties. (

1005(2a)

...such

service of notice to be made no more than ( 5) five months nor less than (2) months before the

time set for

he tax deed to issue;

)

Title searches/reports ordered. (

s soon as possible after pending issue fee is attached

)

Guaranteed funds

–

cash

, cashier's check or wire transfer

required to avoid publication of the

owner's name in Statesman as having property

end

ing I

ssue of Tax Deed. (15 days prior to

Publication

)

Tax deed names, addresses, property descriptions are published in the Idaho Statesman.

(1 day

a week for 4 weeks

)(

1005(2b) ...such publication must be made at least once a week for four

(4) con

secutive weeks, the last publication of which is to be no more than two (2) months nor less

than fourteen (14) days before the time set for the t ax deed to issue

)

Title search updates ordered to identify any changes since original report provided.

Guarant

eed fu

nds

–

cash

, cashier's check or wire transfer

required to redeem the delinquency

and stop Tax Deed action. Absolutely no personal or business checks accepted during this

period. (10 days before the hearing

)

Rogue Tax Sale Investor

307

Deadline for recording of Affidavit of Com

pliance.

(

1005 (8

9), At least (5) f ive days before the

tax deed shall issue the county treasurer shall make an affidavit of compliance stating that he or

she has complied with the conditions of issuance of notice of pending issue...such aff idavit shall

be delivered to the cou nty recorder to be by such officer entered on the records of his or her

off ice...

)

Tax deed hearing

(63

1005)

2005 Tax Deed Calendar:

htt

p://www.adaweb.net/departments/treasurer/documents/TAXDEEDCALENDAR2005.doc

(2) Frequent Questions Regardi ng the Sale of Ada County Tax Deed Properties

http://www.adaweb.net/d

epartments/treasurer/OnLineAuction.asp

Next online auction:

May 17

20, 2008

uestions:

propertytaxquestions@adaweb.net

Does the taxing authority sell tax lien ce rtificates or deeds?

We d

o not sell tax lien certificates or

deeds in Idaho. If property taxes o

n real property become three

years delinquent, the county takes title to

the property through a process called "tax deed." This process involves extensive research to make sure

that all

individuals who are a legal "party in interest" (Idaho Code

section

1005) are notified of the

delinquency and given an opportunity to pay the tax and retain their interest. In Ada County the tax deed

hearing is held in January or February of each year.

We rarely proceed to tax deed on more than twelve

parcels in any year.

How is the tax deed property sold?

The C

ounty C

ommissioners control the decisions to sell property

acquir

ed through tax deed. Idaho Code section

808 outlines the powers and duties

of the Board of

Commissioners

with regard to tax deed sales

(see State of Idaho Statutes

http://www3.state.id.us/idstat/TOC/idstTOC.html

)

In Ada County, when tax deed properties are to be

sold, the Ada County Commissioners will schedule an

line auction through Bid4Assets. The Ada County auction is usually held in late May of each year and

is scheduled after the annual Tax Deed Hearing which occurs in mid

February. The property will be

ffered through Bid4Assets, a web based auction site. The Ada County Treasurer will issue a “Certificate

of Sale” to the successful bidder. The Certificate of Sale will include the property description, the name

and mailing address of the party to whom the

property will be deeded and the sale price. The buyer must

present payment in full in cash or by cashier's check or bank wire transfer, at the Ada County Treasurer's

office by 5:00 p.m. on the day following the sale. A Quit

Claim Deed will be issued and re

corded and the

original deed will be mailed (certified mail) to the buyer at the mailing address designated on the

Certificate of Sale.

When and where are auctions held? How do I find out if an auction is scheduled?

The next auction

has been scheduled for

May 17, 2008 (9:00

a.m.

ET) through May 20, 2008 (3:00

p.m.

MT). Access to

the auction is available on the Internet at Bid

4Assets.com.

Ten (10) days prior to the sale a notice will

appear in the Idaho Statesman legal notices section providing a list of pr

operties to be sold, a legal

description and street address for each property, or if no street address, a description of the location

stating distance and direction from the nearest city. The legal notice will also list the time, location and

terms of sale

. Upon request, your name will be placed on our mailing list and a copy of the listing of

properties will be sent to you after the public notice appears in the newspaper.

Can I get more detailed information on the properties to be sold? Where?

Go to the A

da County

Web

site at

www.adaweb.net

and

click on the “Treasurer” department and scroll to the bottom of the

Treasurer’s home page. Click the link labeled “Tax Deed Sales” to access frequently asked questions and

previ

ew pending auction parcels.

Property information can be found on the "Assessor's" department under "Online Property Information

System.

”

Additionally, information can be found at the auction website on

www.Bid4Ass

ets.com

Location

maps and basic information on individual parcels can also be picked up at the Ada County Treasurer’s

Office, on the first floor of the Ada County Courthouse at 200 W. Front Street, Boise, ID upon finalization

of the auction listing.

Rogue Tax Sale Investor

308

How

is the minimum bid set?

The C

ommissioners set what they deem to be a reasonable minimum bid

based on t

he information provided by the Treasurer and the A

ssessor and based upon their own

inspection of the property and opinion regarding its potential usage a

nd value. The Treasurer's office

submits a minimum bid recommendation

to the C

ommissioners for each property. The recommendation

includes an accounting of total taxes owed with penalty and interest, pending issue fees, certifications

and special assessment

s, costs of publication, anticipated recording fees and any other costs incurred in

preparing the parcel for sale. The bid recommendation will also include a current market value for the

parcel as determined by the Ada County Assessor.

What is the rate o

f interest on delinq uent t axes?

Interest on delinquent taxes accrues at 1% per

month. There is no statutory interest rate, which applies to parcels taken by the county through the tax

deed process. We apply 1% per month when calculating recommended bid req

uirements.

What is the r edempti on period for tax deed properties?

Property taken

through the tax deed process

may be redeemed by the owner(s) or other party(ies) holding a recorded legal interes

t in the property

within one

year of tax deed issuance or unt

il sold at public auction, whichever comes first. After sale at

public auction,

there is an additional one

year period in which the property may be redeemed if the tax

deed process is proven to be irregular.

What are the rules of sale regarding payme nt?

Terms

of sale are determined by the C

ommissioners,

requiring payment in full in cash, by cashier's check or bank wire transfer (guaranteed funds) received no

later than 5:00 p.m. on the sale date. If the auction is scheduled for afternoon, we will extend t

he deadline

for payment in full to 5:00 p.m. on the day following the sale date.

What are the rules of sale for “bid

in” properties?

This is not applicable in Idaho.

What is the process for getting a deed to the property?

Ada County issues a Quit Claim

Deed upon

the sale of property taken through tax deed. Generally, these properties are not eligible for title

insurance

for at least one

year after purchase. A purchaser could, however, employ an attorney to proceed with

Quiet Title acti

on if desired. (See

Idaho Code section

1005

–

One

year possession under tax deed

conclusive as to regularity of proceedings.)

Ada County makes no representation or guarantee as to the accessibility, value or usability of the

properties to be auctioned.

ROGUE INVESTOR NO

: See “

Private Sector Tax Sale Administrators

” at the end of the Idaho section

for information related to Bid4Assets.

(3) Pending Sales

http://www.adaweb.net/departments/treasu

rer/PendingSales.asp

Tax deed sale May

17 TO 20, 2008

Click here for publication:

http://www.adaweb.net/departments/treasurer/documents/NOTICEO

FTAXDEEDSALE2008PUBLICATIO

N.doc

R6744100023

S1023223440

Bid4Assets

(4) Notice of Tax Deed Sale

http://www.adaweb.net/departments/treasurer/docu

ments/NOTICEOFTAXDEEDSALE2008PUBLICATIO

N.doc

The Board of Ada County Commissioners will sell the following tax deed property at auction, starting at

9:00 a.m. (MDT), Saturday May 17, 2008, and ending May 20, 2008 at 3:00 p.m. (MDT) on the

Bid4Assets web

site at

www.bid4assets.com

(onsite terminal available in the Ada County Treasurer’s

office May 20, 2008 from 8:00 a.m. to auction closure only, 200 West Front Street, First Floor, Boise,

Rogue Tax Sale Investor

309

Idaho), or offline bid for

ms and directions available by fax, 509

277

9169, or phone, 1

877

427

7387.

Note: pre

registration is required through Bid4Assets by May 7, 2008, in order to participate in the

bidding. Terms of Sale will be guaranteed funds: cash, cashier’s check or bank

wire transfer, due and

payable by end of business on the day following the sale date (5:00 p.m. [MDT}, 5/21/08).

Properties may be redeemed prior to sale by owner or other party holding secured legal interest in the

property. Owner of party in interest m

ust pay all taxes, including the current year (2008) taxes,

certifications to the tax roll, late charges, interest, fees and costs, to redeem. Acceptable payment: cash,

cashier’s checks or bank wire transfer; checks will not be accepted. Any property redee

med prior to May

17, 2008 will be withdrawn from auction. Property will be sold “As Is.” Ada County makes no

representation as to accessibility or usability of the land and/or structure offered for sale. Eviction of

occupant (if any) will be the responsibi

lity of the buyer. Bidders are encouraged to research the properties

in advance of the auction, as all sales are final.

The Board of Ada County Commissioners reserves the right to reject any and all bids.

Auxiliary aids or services for persons with disa

bilities are available upon request. Please call 287

6800 by

5:00 p.m. on 5/15/2008 so that arrangements can be made.

ROGUE INVESTOR NOTE

: See web page for the property listed for sale. The list is available on the data

CD that accompanies this book (wit

hin the file folder “Tax Sale Lists”).

BOA RD OF COUNTY COMMISSIONERS

http://www.adaweb.net/departments/commissioners

(

from

http://www.adaweb.net

, clic

kon“

Commissioners

” under

the header “Elected Offices”)

(1) Contact Information

http://www.adaweb.net/departments/commissioners/Contact.asp

Ada County

Courthouse

200 West Fron

t Street

Boise

,ID

83702

Phone:

(208)

287

7000

Fax:

(208)

287

7009

Email:

bocc1@adaweb.net

CASSIA COUNTY, IDAHO

http://www.cassiacounty.org

TREASURER’S OFFICE

http://www.cassiacounty.org/treasurer/index.htm

Gayle Erekson

, Treasurer

1459 Overland Avenue

Burley, ID 83318

Phone: (208) 878

7202

Fax: (208) 878

1012

Email:

gerekson@cassiacounty.org

BOA RD OF COUNTY COMMISSIONERS

http://www.cassiacounty.org/commissioners/index.htm

Cassia County Courthouse

1459 Overland Avenue

Burley, ID 8331

Phone: (208) 878

7302

Fax: (208) 878

9109

Rogue Tax Sale Investor

310

(1) Real P roperty Tax Sales

http://www.cassiacounty.org/commissioners/rpts.htm

Determination of p

roperty:

Board of County Commissioners (BoCC

) review real property list, and

determine what to sell at public auction.

Advertise notice of a

uction:

BoCC have Notice of Auction prepared and published in South Idaho Press

in accordance with Idaho Code section

106. The notice shall comply with the

following:

Publish not less than 10 days prior to auction.

Shall contain legal description of property, and next to such description shall place name of

delinquent taxpayer.

Shall contain street address of property.

If located outside of city limits and d

oes not have a street address, then the description shall also

contain the distance and direction of the location of the real property from the closest city.

Property s hall be sold to the highest bidder:

BoCC may reserve the right to reject any and all bi

ds.

BoCC have discretionary authority to reject or accept any bid made for an amount less than total amount

of delinquent taxes, late charges, costs and interest.

Purchase p

rocess:

Can

be purchased on contract with County.

(i) Contract must be recorded.

(ii) Term cannot exceed 10 years.

(iii) Interest rate not to exceed rate specified by I.C. Sect

ion 28

104(1).

(iv) BoCC has

authority to cancel contract if purchaser fails to comply with contract terms and County

retains all payments made on contract.

(

v) Title to all property sold on contract is retained in name of Cassia County until full payment is

made by purchaser.

(vi) Purchaser shall be responsible for payment of all property taxes during period of contract.

Sale of property vests all right, title

and interest, which was held by Cassia County in the subj

ect

property, in the purchaser (i

ncluding all delinquent taxes which become a lien on the property)

In addition to the purchase price, the purchaser shall pay all fees required by law for transfer

property.

If property is not sold, or is not bid

upon, at public auction, then C

ounty may sell, without further

notice, at public or private sale.

Real property ex change

–

onsolidation:

When it is in the County’s best interests, the BoCC may

exchange

real property owned by the County for real property of equal value.

Odd

lot property:

a. Defined: of irregular shape or a remnant and has value primarily to

adjoining property owner; and

b. Not needed for public purposes; and

c. Is ex

cess to the needs

of the County.

d. May be sold to adjacent property owner:

i. Establish Fair Market Value

–

by licensed appraiser.

ii. Written notice of willingness to sell to adjoining land owner.

iii. If after 30 days, adjoining landowner does not want, then

may sell

to interested parties at appraised

value.

iv. Must publicly advertise in South Idaho Press at least one time.

v. Public must be given 15 days to object to sale in writing.

vi. BoCC must make final determination regarding sale of odd

t in

open meeting.

Exchange with other public entities:

May exchange tax deed and other surplus real property with

federal government, State of Idaho, any political subdivision or taxing district, or Idaho Historical Society.

Rogue Tax Sale Investor

311

[Items #2

–

#8 based on Idah

o Code Section 31

808]

Redemption of tax deeded p

roperty (I.C. Section 63

1007):

After issuance of tax deed to County, may be redeemed only by record owner or party in in

terest, up

to the time BoCC has

entered into a contract of sale or the property has

been transferred by County

deed.

To redeem, have to pay any delinquency including late charges, accrued interest and costs.

Once payments are made, then County will issue a Redemption Deed.

Right of Redemption shall expire, if property not earlier sold by

County, three years from the date of

issuance of the tax deed to the County.

Miscellane

ous i

nformation:

Payment may be made by cash, cashier’s check or personal check, bankable the day of sale. If

payment does not clear on the first attempt, the bid wi

ll be disqualified and the property may be

awarded to the next highest, responsible bidder.

Bids may be submitted by mail. The bidder is responsible to assure that a

mailed bid is received by

the C

ounty prior to commencement of the public auction.

PRIVAT

E SECTOR TAX SALE ADMINISTRATORS

BID4ASSETS

http://www.bid4assets.com

(1)

County Tax Sales

http://www.bid4assets.com/help/index.cfm?fu

seAction=TaxSale

Upcoming

ounty auctions are continuously added to the site's calendar. To stay appraised of all

upcoming County auctions on Bid4Assets we encourage you to sign

up for our County Tax Sales email

alert so we can notify you when new sale

s are introduced to the site.

(2) Real E state Storef ronts

http://www.bid4assets.com/marketing/storefrontListing

Rogue Tax Sale Investor

312

Illinois

Tax Lien Sales:

Yes

,AnnualT

ax Sale.

Over

the

Counter Tax Lien Sales

Yes. W

here there are no bidders on a parcel

at the annual

tax lien sale

the parcel is sold to the County’s trustee

at 18

%. The County may authorize over

the

counter sales of these certificates.

Tax Deed Sales:

es, Scavenger Sales.

here there are no bidders on a parcel

at the annual

tax lien sale

the parcel is sold to the County’s trustee

at 18

%. County

certificates

that have not

been redeemed after 2 ½ years

are available for purchase

at the County’s tax deed

sale.

Sales

are normally conducted during the summer months. Thirty days prior to a sale, a catalog of

properties is available at the County Treasurer’s Office.

In most counties, the sales are

conducted by Joseph E. Meyers & Associates, who acts as trustee

for the county.

To obtain

schedule of county tax deed

sales, contact Joseph E. Meyer

&Associatesat

618) 656

5744

See also Internet Auction Information at the end of the Illinois section.

Over

the

Counter Tax Deed Sales:

Rating:

Four Stars (****

)

Interest Rate:

18% every six months (effective interest rate is

36% per year

)

.Onfarmland,the

interest

rate is 12% every six months (effective interest rate is 24% per year). These are flat

rates (considered penalties), not annual percentage rates, so

the effective rate is actually

higher. Because this is a flat rate, you

can earn up to 18%

(on non

farmland, for example)

regardless of whether a lien is redeemed in month one or two, or any time before the six

month

period has expired. If

redemption occu

within the first month,

you would earn

an effective

interest rate of 216%. After the sixth month, the interest rate accrues again at up to 18% plus

the previous interest. Therefore, the 18% interest becomes 36% at the end of month six. In all

likelihood

your winning interest rate will be lower. You

would

take your winning

interest (e.g.,

6%) and after six

months double the interest to 12%. Even if you bid down to 1% at an auction,

your effective annual rate

could be as high as 12% if redeemed in the fir

st month.

Sale Period:

The

annual tax lien sale

is normally held in the fall

,withmostcountiesholding

sales in November and December

.Scavengersalesareconductedinodd

numbered years.

Redemption Period:

2to

years

,dependingonthepropertycl

assification.

Bidding Process:

State law requires that bidders be registered at least 10 business days prior

to the start of the

tax lien

sale.

All

tax lien sales are by competitive bid, with the w

inning bidder

accepting the

lowest interest rate.

At tax

deed sales, the winning bidder offers the most money

for the deed.

State

Specific Information:

Under Illinois law, the Treasurer's Office is required to conduct two

types of real estate tax sales in which delinquent property taxes are sold. The first is t

he Annual

Tax Sale, held once a year, sometime after the second installment. If property taxes for the

immediately preceding tax year are delinquent on a parcel, they are offered for sale to tax

purchasers at the Annual Tax Sale. The sale m

ight be held any

time from the fall of that year to

the s

pring of the following year.

Rogue Tax Sale Investor

313

The

second is the

biennial Scavenger Sale (conducted in odd

numbered years)

,which

offers

tax

deeds

on properties that have delinquencies o

two or more years that were not purchased

the annual tax sales.

Illinois

is a decent

tax lien state because the

effective

interest rate of 36% per year is very

favorable. Some of the larger counties are highly competitive and big

time investors will bid

rates down to as low as 1%.

This is becaus

they realize that

even at 1% the effective annual

interest rate could be as high as 12% if the lien is redeemed quickly.

If you are looking to

acquire a property that is not likely to be redeemed, one strategy is to bid down to zero and shut

out the “big

time” investors.

Champaign County, Illinois Tax Lien Sale

–

November 7, 2003

I occasionally do environmental assessments in Champaign County, so in 2003 I decided to

attend their tax sale. Overall, I was not impressed with the sale. As I expected, since

the city of

Champaign is a college town located near Chicago and is currently a hot real estate area,

many professional investors were at the sale. In most cases they bid the interest rate from 18

percent every six months to 1 to 3 percent. Their goal was

to bid on a lot of properties, with the

hope that a few of the properties would go to deed. However, when properties located in

smaller towns around Champaign were offered, less bidding occurred and the winning interest

rate was occasionally as high as 10

to 15 percent. This demonstrates what I keep telling all of

you tax lien certificate and tax deed investors to do: focus on undiscovered and unpopulated

areas. You will have less competition and find many more bargains.

I also noticed something very inte

resting. None of the investors would bid the interest rate

below 1 percent. However, if you have done your research and located properties with a high

likelihood that they will go to deed, you do not care about the interest rate. After all, what is the

dif

ference between 1 percent and 0 percent, especially if the property goes to deed and you do

not get paid any interest at all?

Therefore, at these more popular sales, one strategy is to go through the tax sale list, find

properties that look decent by insp

ecting them, and then evaluate if they are likely to go to

deed. Look for properties that have been in tax default for a long time and/or the amount of

taxes owed is high while otherwise the property appears in good condition. These properties

are the best

candidates for going to deed. All you need is one property that goes to deed and

you can make 7 to 10 times your money.

Another interesting twist in Illinois is that you, the buyer of the tax lien certificate, must notify

the tax delinquent property owne

r by mail, following state

mandated procedures, if you want to

take possession of the property if it goes to deed. The requirement is three separate mailings

by the purchaser of the tax lien certificate. What a pain in the neck! However, always

remember th

is requirement if you are investing in Illinois tax lien certificates.

Illinois County Links

See

Illinois

Tax Sales

http://www.illinoistaxliencertificates.com

and

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

Rogue Tax Sale Investor

314

CHAMPAIGN COUNTY, IL

LINOIS

http://www.co.champaign.il.us

TREASURER’S OFFICE

http://www.co.champaign.il.us/treasurer.htm

(1) Contacts

http://www.co.champaign.il.us/treas/contacts.htm

Daniel Welch, Treasurer

Brookens Adm

inistrative Center

1776 E. Washington

Urbana, Illinois 61802

Phone: (217) 384

3743

Fax: (217) 384

3777

Email:

treasurer@co.champaign.il.us

(2) Tax Sale

http://www.co.champaign.il.us/treas/taxsale.htm

The Annual Real Estate and Mobile Home Tax Sale

The annual Tax Sale will be held at Brookens Center Lyle Shields Meeting Room, 1776 E. Washing

ton,

Urbana, Illinois, starting at 11:00

a.m.

October 24, 2008. Anyone interested in being a tax buyer must

complete a Bidder Registration Form

(

http://www.co.champaign.il.us/treas/taxsale.pdf

)

and return it to the

Treasurer’s office no later than 10 business days prior to the tax sale (October 9, 2008).

Fees to be added to each real estate parcel purchased at the tax sale:

$20.00 indemnity fee

$10.00 tax sale automation fee

$60.00 intere

st fee

$4.00 County Clerk fee.

Tax Sale Buyer Instructions

Tax Sale Registration Fee:

$500 Tax Sale Registration Fee (must be included with registration form)

This new law (35 ILCS 200/21

200) calls for a Registration Fee of no more than $500 in

counties with a

population above 50,000.

The $500 will be applied to any purchase made at the tax sale.

If the registrant cannot attend the tax sale they may notify the collector no later than 5 business days

(October 17, 2008) prior to the sale of any

substitute person who will participate in the sale.

If the registrant does not attend the sale, then the deposit is forfeited to the Tax Sale Automation Fund.

If the registrant does attend the sale and attempts, but fails, to purchase any parcels offer

ed for sale,

then the deposit must be refunded to the registrant.

Tax Sale Fees (Non

Refundable):

$50 Tax Sale

Delinquent List (hard copy or e

mail)

Any request to have the delinquent list mailed m

ust include $10.00 for postage and

handling or pre

paid,

addressed mail service envelope.

If you intend to bid at the annual tax sale please complete the Bidder Registration Form

(

http://www.co.champaign.il.us/treas/taxsale.pdf

)

and return it b

y October 9, 2008

There is a registration

Rogue Tax Sale Investor

315

fee, and if you want delinquent tax information you must pay a $50 delinquent list fee. Please include

your check for $550 with the registration form if you want the delinquent data or $500 if you do not want

the

delinquent data.

Other Buyer Requirements

It is our policy that you leave us a signed check and a telephone number where you can be reached prior

to the sale.

Winning bids are final and y

our payment is non

refundable.

Make sure that what you bid

on is

actually

what you want.

If you default, by law, Champaign County will pursue collection on winning bids through

the courts.

This year's tax sale will be conducted using the "RAMS" (Real

Time Auction Management System)

automated system t

o track bids an

d compile data.

When we receive your registration and fee, and as

soon as it is available, you will receive a paper listing of the current delinquent list or an email containing

a digital

text file in PDF format.

You must have a PDF Reader program installe

d on your compu

ter in

order to open the file.

PDF Reader programs are widely available

for download on the internet.

For

further information visit

http://www.iltaxsale.com

At the beginning of the sale a training

and demonstration session will be conducted to familiarize all

buyers with the procedure.

If you have any further questions please call us at 217

384

3743 or email us at

treasurer@co.champaign.il.us

OGUE INVESTOR NOTE

: See

Private Sector Tax Sale Administrators

at the end of the Illinois section

for information related to ILTaxSale.com.

(3)

orms

http://www.co.champaign.il.us/treas/forms.

htm

Tax Sale Buyer Registration Form:

http://www.co.champaign.il.us/treas/taxsale.pdf

This form must be

received in the Treasurer’s Office

10 business days prior to the tax sale

COUNT

YCLERK’SOFFICE

http://www.co.champaign.il.us/countyclerk

and

http://www.champaigncountyclerk.com

The County Clerk is responsible for

accepti

ng redemptions and issuing tax deeds on unredeemed

properties.

(1) Contact Information

http://www.co.champaign.il.us/countyclerk/contacts.htm

Mark Shelden

Brookens Administrative Ce

nter

1776 E. Washington

Urbana, Illinois 61802

Phone, Real Estate Taxes: (217) 384

3722

Fax: (217) 384

1241

Email:

mail@champaigncountyclerk.com

Rogue Tax Sale Investor

316

COOK COUNTY, ILLINOI

http://www.co.cook.il.us

TREASURER’S OFFICE

http://www.cookcountytreasurer.com

(1) Contact Information

http

://www.cookcountytreasurer.com/contactus.aspx?ntopicid=57

Cook County Treasurer's Office

118 N. Clark Street

, Room 112

Chicago, IL 60602

Phone: 312

443

5100

Online contact form:

http://www.cookcountytreasurer.com/contactus.aspx?ntopicid=225

) Annual Tax Sale Background Information

http://www.cookcountytreasurer.com/taxdates.aspx?ntopicid=81

Und

er Illinois law, the Treasurer's Office is required to conduct two types of tax sales in which delinquent

property taxes are sold.

The first is the Annual Tax Sale, held once a year, sometime after the Second Installment. If property

taxes for the immedi

ately preceding tax year are delinquent on a parcel, they are offered for sale to tax

purchasers at the Annual Tax Sale. The sale might be held any time from the fall of that year to the spring

of the following year.

Please check this w

eb site periodically

for the announcement of the date

Those interested must meet a set of qualifications to participate in the annual tax sale. They must

complete registration materials and provide collateral or a bond. The registration materials include rules

for the conduc

t of a tax sale.

The biennial Scavenger Sale (c

onducted in odd

numbered years)

offers taxes on properties that have

delinquencies on two or more years that were not purchased at the annual tax sales. In Cook County, the

sale has traditionally taken place

in the fall or early winter months.

For a complete understanding of the distinctions between these sales and how to proceed to tax deed,

read 35 ILCS (Illinois Compiled Statutes) 200/1

1, et. seq. This information can be found in any law

library.

)Sc

avenger Tax Sale

http://www.cookcountytreasurer.com/taxdates.aspx?ntopicid=77

The next Scavenger Tax Sale will be held in 2005.

ROGUE INVESTOR NOTE

: Information on the w

eb pa

ge is the same as that on

the

web page for Annual

Tax Sale Background Information.

) Tax Bill Schedule for 2005

http://www.cookcountytreasurer.com/taxdates.aspx?ntopicid=75

June 26, 2007:

Tax Year 2005 Annual Tax Sale ends.

June 5, 2007:

Tax Year 2005 Annual Tax Sale begins.

Rogue Tax Sale Investor

317

COUNTY CLERK

http://www.cookctyclerk.com

(1) Contact Information

http://www.cookctyclerk.com/sub/contact.asp

Real Estate & Tax Services

Cook County Building, 4th Floor

118 N. Clark St

reet

Chicago, IL 60602

Phone

: (312) 603

5656

mail:

dorr@cookc

ountygov.com

(2) Real E state and Tax Services

http://www.cookctyclerk.com/sub/real_estate_taxes.asp

When delinquent or unpaid taxes are sold by the Cook County Treasurer's office,

the Clerk's office

handles the redemption process, which allows taxpayers to redeem, or pay, their taxes to remove the risk

of losing their property. Records for delinquent taxes for prior years (currently defined as tax year 2004

and earlier) are the resp

onsibility of the Clerk's office.

DUPAGE COUNTY, ILLIN

OIS

http://www.co.dupage.il.us

TREASURER’S OFFICE

http://www.co.dupage.il.us/treasurer/index

.cfm

Gwen Henry

, Treasurer

Phone: (630) 407

5900

(1) Contact Information

http://www.co.dupage.il.us/treasurer/generic.cfm?doc_id=136

DuPage County Treasurer's Office

First

Floor,

South

421 N. County Farm Road

Wheaton, Illinois 60187

Phone

, Tax Information

(630) 407

5900

Mailing Address

P.O. Box 787

Wheaton, Illinois 60189

0787

Online contact form:

tp://www.co.dupage.il.us/treasurer/treasureremail.cfm

(2) Tax Sale Informat ion

http://www.co.dupage.il.us/treasurer/generic.cfm?doc_id=1621

The tax sale is held

each Novemb

in the JTK County Administration Building, 421 N. County Farm

Road, Wheaton, Illinois.

A list of delinquent parcels will be published in local newspapers in November. A tax sale list of the

delinquent parcels will be available for purchase by registere

d buyers at a cost that is dependent upon the

number of parcels. While more information is contained on the tax sale list than is published in the

newspapers, its purchase is not a requirement for attending the tax sale. The tax sale list provided to the

axbuyers is for the sole purpose of the delinquent property tax sale. Use of this information for any other

purpose is strictly prohibited. The County Treasurer reserves the right to deny sale of the list to any

taxbuyer.

Rogue Tax Sale Investor

318

State law requires that bidders b

e registered at least 10 business days prior to the start of the sale.

Registration forms are available in October to prospective taxbuyers, along with a list of requirements for

buying at the tax sale and registration fee amounts. A person must attend t

he sale in order to bid.

Payment of purchases (delinquent taxes + interest + costs of $104.00 per parcel) must be made the day

of the sale by cash or cashier’s check only.

The bid represents the rate of interest that would be earned by the taxbuyer on the

purchase amount

during each six months of the redemption period, if the owner redeems the sale. By law, the

max

mum

interest rate bid is 18%. The sale is to the person who bids the lowest percentage of interest. In the last

several years the average succe

ssful bids ranged from 0% to 3%.

After the tax sale, the taxbuyer is issued a certificate of purchase, which represents a lien on the property.

The property owner has a 2

to 2 ½

year redemption period, depending on property classification. If the

tax lie

n is not redeemed by the owner, the taxbuyer must petition the circuit court for a tax deed, after first

fulfilling all of the legal requirements. The taxbuyer may also pay all unpaid taxes for the next two

subsequent years at a specified time and record t

he payments against the sale.

See Subsequent Tax

Payment Information at

http://www.co.dupage.il.us/treasurer/generic.cfm?doc_id=3307

The legal requirements to purchase at the

tax sale and procedures that must be followed to obtain a tax

deed are outlined in the Illinois Compiled Statutes Chapter 35, Act 200, Article 21, available at public

libraries or on the Internet

www.ilga.gov/legislation/ilcs/ilcs.asp

Knowledge regarding procedures and

statutory requirements is the taxbuyer’s responsibility.

In cases where there are no bidders on a parcel, the County, as Trustee for all taxing bodies, becomes

the buyer at

18%.

The County’s certificates are available for purchase by taxbuyers in the amount that the

County paid, along with the 18%. Please direct inquiries concerning purchasing County certificates to the

DuPage County Clerk (

http://www.dupageco.org/countyclerk/index.cfm

). There are no forfeitures (unsold

parcels) available after the sale for over

the

counter purchases.

The actual tax sale dates, deadlines and more specific information are available

on our tax sale

instructions page or by contacting our office at 630

407

5900.

(3) Tax Sale Instructions

http://www.co.dupage.il.us/treasurer/generic.cfm?mode=previ

ew&doc_id=1622

Dupage County Annual Tax Sale

www.dupageco.org/treasurer

www.ilga.gov

Illinois Compiled Statutes Chapter 35, Act 200, Article 21

Date:

The 2006 an

nual real estate tax sale will begin on Monday, November 19, 2007

t will continue

until all delinquent parcels are sold.

Place:

421 N. County Farm Road

, Wheaton, in the auditorium of the JTK County Administration Building.

Time:

The tax sale will start

promptly at 9:00 a.m. each day and will run until approximately 3:30 p.m.

Using an automated tax sale system, we anticipate the sale running for 1 1/2 days.

Registration:

Registration forms will be available October 1, 2007. The County Collector must rec

eive

completed registration forms at least ten (10) business days prior

to the start of the tax sale.

Registration

forms must be received by our office no later than Thursday, November 1, 2007

Please complete the

official registration form and submit it a

long with 1) a deposit of $500.00 and 2)

an equipment usage fee

of $50.

Checks should be made payable to the

DuPage County Collector

. Your

$500 deposit will be

applied toward your purchases.

Other forms of registration will not be accepted. Your registrati

on form will

be receipted and returned to you with a three

letter buyer code. Each bidder listed on your registration

form will use

this three

letter code to bid.

If you have codes on file with this office, please notify us when

you register if you in

tend

to use the same code(s).

Existing codes preclude any changes to the Certificate

Name on your registration form. If you participate, please verify with our staff on Monday, November 19,

Rogue Tax Sale Investor

319

that your three

letter code represents the exact name you wish prin

ted

on your sale certificates.

Please

call 630

407

5912 if you have questions.

If a registered bidder cannot participate in the tax sale, our office must be notified no later than 5 business

days prior to the sale, of the name of the substitute person who wil

l participate in the registered bidder's

place. Substitutions will not be allowed on the day of the tax sale. If a registered bidder/buyer does not

attend the sale, the $500 deposit is forfeited.

Publicati on:

If a parcel remains unpaid as of October 19, 2

007, it will be published in local newspapers

the week of October 29, 2007.

Tax Sale List:

The tax sale list, available for purchase to registered taxbuyers, is for the sole purpose of

the

delinquent property tax sale.

Use of this information for any ot

her p

urpose is strictly prohibited.

The

County Treasurer reserves the right to deny sal

e of the list to any taxbuyer.

The list will include the

permanent parcel number, the assessee name, the delinquent tax amount and the state equalized value.

It will be

available on Wednesday, November 14, 2007

. The cost of the list is $250.

The tax sale list will

be sent electronically to the email address the buyer has provided on their registration form. If a printed

list is preferred, it will be available through our

office. Arrangements to receive a printed list should be

made with our office by Monday, November 12, 2007

, by calling 630

407

5912.

Checks to purchase the

list should be made payable to the

DuPage County Treasurer

. The printouts are for the entire county

and

are not available by township.

Bidding Procedure:

This is a

lien only sale

. The parcels are offered

in numeric order by township.

Taxbu

yers bid on the interest rate.

Bidding begins at 18% and the tax lien is awarded to the lowest

bidder.

This year we

will have an automated tax sale and bidding will be done by using a laptop

com

puter, which will be supplied.

An explanation of how to bid at the sale using the laptop computer will

be presented promptly at 9:00 a.m. the morning of t

he sale;

therefore, it

is important to arrive on time that

day.

County as Taxbuyer:

Whenever a parcel is offered for sale and there are no other bidders, the County of

DuPage, as Trustee for all taxing bodies, will bid 18% and become the owner of the cer

tificate. This

eliminate

s forfeitures.

After the sale, these certificates can be purchased from the DuPage County Clerk.

Deposits/Payments:

Only cash or cashier’s checks made payable to the

DuPage County Collector are

accepted.

Personal checks, business checks or other forms of

payment will not be accepted.

Taxbuyers pay the tax amount due, interest and a per parcel fee

of $104.00.

The statutory fees cover:

$10.00

for Costs

4.00

for Sales Certificate

20.00

for Tax Sale Indemnity Fund

10.00 f

or Tax Sale Automation Fund

60.00

r Sale in Error Interest Fund

$104.00

Total

An audited list by parcel number of each taxbuyer's purchases will be available after 10:00 a.m. on

Tuesday, November 20, 2007. The total amount due must be paid by 4:00 p.m.

that day.

Failure to pay

r purchases will result in those purchases being cancelled and the taxbuyers' ineligib

ility for future

participation.

Cancellation of any buyer's purchases could extend the tax sale; therefore, please contact

our office for information regarding an additio

nal day of tax sale.

Refunds:

All checks received will

be deposited by the Collector.

If the deposits exceed the purchases,

the refunds will be made the Wednesday after the tax sale has been completed and balanced.

Seating:

There will be no assigned

seating at the sale. Taxbuyers are welcome to sit at any available

laptop station.

Evidence of Purchase:

Several weeks after the tax sale, a Sale Certificate will be issued by the DuPage

County Clerk in the name of the registered taxbu

yer for each parcel

purchased.

This Sale Certificate

Rogue Tax Sale Investor

320

represent

s a lien against the property.

Please contact that office at 630

407

5500 with any inquiries

regarding your certificates.

We look forward to your partici

pation at our annual tax sale.

Please refer to Illinois Com

piled Statutes,

Chapter 35, Act 200, Article 21, or the Illinois General Assembly web page at

www.ilga.gov

for tax sale

information.

Knowledge regarding procedures and statutory requirements is the taxbuyer’s responsibi

lity.

If you have any questions, please contact our office at 630

407

5910 or visit our website at

www.dupageco.org/treasurer

(4) Subsequent Tax Payment Information

http://www.co.dupage.il.us/treasurer/generic.cfm?doc_id=3307

Pursuant to Illinois Compiled Statutes (Ch. 200/21

355), you may pay subsequent years’ unpaid 2006

taxes (sub

tax) on any parcels you have purchased a

t a previous DuPage County tax sale. We will only

accept sub

tax payments after the second installment bec

omes delinquent.

Sub

tax bills become

available at 10:00

a.m., Tuesday, September 18, 2007, and must be ordere

d at least one day in advance.

Your bill

s must

be requested by buyer code(s). Please refer to the attached

subsequent tax bill order form

(

http://www.co.dupage.il.us/emplibrary/SUB%20TAX%20ORDER%20FORM.pdf

)

for i

nstructions on

ordering sub

tax bills.

Each sub

tax bill has three parts: two receipt po

rtions and one payment coupon.

Each part lists the 2006

tax d

ue, penalty and indemnity fee.

The buyer code and sales certificate number that corresponds to the

sub

tax

are also printe

d on each section of the bill.

Verify the sales certifica

te number against your

records.

If parcel numbers have changed, we will provide bills for new parcels which are affected by the

sale.

Please note that it is the tax buyer’s responsib

ility to check for current tax payments and check for prior

year redemptions on each parcel befor

e submitting a sub

tax payment.

This office will not refund the sub

tax payment to the tax buyer if the prior year’s sale certificate has been redeemed at the

County Clerk

Office.

Select and to

tal the bills you wish to pay.

Please pay the

“Total Sub

Tax Due” amount.

Submit the

sub

tax bills with your check.

Do not s

eparate the parts of the bill.

You will receive two receipts: one for

your records and one that

must be filed promptly with the County Clerk along with a request that the sub

tax payment be ap

plied to the prior years’ sale.

It is the responsibility of the tax buyer to insure the sub tax

payment is posted by the County Clerk

Please contact their offi

ce at 630

407

5500 for more information.

A sub

tax payment will be refunded if it duplicates a prior payment, including anoth

er tax buyer’s sub

tax

payment.

Date and time of receipt will always determine the priority of sub

tax payments.

The date that you

r sub

tax payment is received in our office will

be used for computing penalty.

On the

first of each month, additional penalty of 1.5% per installment

must be added to your payment.

Please

request new sub

tax bills if additional interest becomes due.

Appl

ication for judgment is November 16, 2007

The 2006 tax sale begins November 19, 2007

If you

have questions regarding the tax sale, please call our office at 630

407

5910.

(5) Local Newspapers

http://www.co.dupage.il.us/treasurer/GENERIC.CFM?DOC_ID=1623

Delinquent 2006 Real Estate Taxes Will Appear the Week of October 29, 2007 in the Following

Publications:

ROGUE INVESTOR NOTE

: See web page for a list of publications, the p

ublisher and phone number, and

the townships published.

Rogue Tax Sale Investor

321

COUNTY CLERK’S OFFICE

http://www.dupageco.org/countyclerk

Gary King, County Clerk

Jack T. Kneupfer Admin

istration Building

421 N. County F

arm Road

Wheaton, IL 60187

Mailing address

P.O. Box 1028

Wheaton, IL 60189

Phone:

(630) 407

5500

LAKE COUNTY, ILLINOI

http://www.co.lake.il.us

TREASURER’S

OFFICE

http://www.co.lake.il.us/treasurer

The staff holds the annual tax sale.

(1) Real E state Tax Information

http://www.co.lake.il.us/treasurer/taxinfo/realestatetaxes.asp

All payments must be received by Friday, November 26th, at 5:00 p

to avoid going to tax sale. Those

interested in participating in the tax sale must register 10 business days prior to the sale.

(2) Tax Sale Instructions

http://www.co.lake.il.us/treasurer/taxsale

Please read carefully (limited seating).

Important: Please read all of the following information carefully before you even consider taking part in the

annual tax sale. All statutory

references can be found in the Illinois

property tax code (35ILCS200).

Remember, you are not buying the property; you are buying a delinquent tax lien on the property. To

have any right to this property itself, you will have to follow all the statutory s

teps and obtain a tax deed

from the Circuit Court. You do not have the right to put the tax bill into your name until you have obtained

the tax deed.

Lake County will hold the 2007 annual tax sale on Monday

December 1st and Tuesday

December 2nd.

This y

ear it will not be held at the Lake County Court House, but at the Lake County Forest Preserve

Greenbelt Cultural Center, 1215 Greenbay Road, North Chicago.

If you plan to attend this year’s sale, please complete the Application for Delinquent Property T

ax Sale

(

http://www.co.lake.il.us/elibrary/forms/treasurer/taxsalebuyerregistration.pdf

)

(after October 1st but not

later then November 13th). This

application

should be sent to

Lake County Collector, 18 N. County Street,

Waukegan, Illinois 60085, along with a $500.00 deposit, which will be applied to your first purchase. If you

should attend the sale, but are unable to purchase any taxes, your deposit will be re

funded.

An additional fee of $100.00 will be charged to the buyers interested in obtaining a delinquent tax sale list.

Upon completing the application and making payment to the Lake County Collector, Joseph E

Meyer &

Associates will contact you via e

il for the format of the list requested.

The tax sale list that is provided to you should be used for the sole purpose of the delinquent property tax

sale. Use of this information for any other purpose is strictly prohibited. The County Treasurer reserve

the right to deny sale of the list to anyone violating this rule.

Rogue Tax Sale Investor

322

The actual sale system is called “RAMS” and is an automated computer system that will enable each

buyer to bid on a parcel electronically. Lap

top computers will be provided to each buye

r (a demo can be

seen at

www.iltaxsale.com

During the tax sale process, any corrections must be made before a township is ended. A total list of what

was bought by a buyer will be available the day after (Wedne

sday) the sale is completed and payment

must be completed by Thursday at 12:00 Noon.

New buyers

will need to supply at the time of registration

a letter of guarantee from their financial institution for the amount they expect to spend.

All tax buyers wil

l be notified when certificates are ready. Certificates must be picked up in person.

Tax Sale Procedures

: Some parcels listed for sale may not be offered at th

e sale for a number of

reasons:

Parcels paid by owner prior to the sale

Bankruptcy

Forfeitur

Municipal o

wned

Exempt

Court o

rders

Other reasons required by law

Parcels are sold to the lowest bidder. They must pay all taxes, interest and statutory costs. The maximum

interest is 18%, the lowest is 0%.

Whenever a parcel is offered for sale

and there are no other bidders, the County of Lake

as Trustee for

all taxing bodies, will bid 18% and become the owner of the certificate. This eliminates forfeitures. After

the sale, these certificates can be purchased from the Lake County Clerk.

The b

uilding will open the doors to the public at 8:00 a

m. The sale will begin at 9:00 a

General Rule:

No smoking in the building at all.

Each day we will try to provide two fifteen

minute breaks. Lunch break will be provided each day. Use of

cellular t

elephones in the Tax Sale room is prohibited. All phones and pagers must be turned off.

Publication Dates

November 13th

and 14th (p

apers will be available in our office the third week of

November)

Tax Sale

List:

available the middle of November

–

Cost

$100.00

Last Day to Register:

November 13th at 5:00 p

Tax Sale

: December 1st and

2nd

Location:

Lake County Forest Preserve Greenbelt Cultural Center

, 1215 Greenbay Road,

North Chicago,

Publications:

Zion Benton

News, phone: 847

746

9000,

Bent

on & Zion

The News Sun, phone: 847

336

7000,

Waukegan

Lakeland News

, phone: 847

223

8161,

Newport, Antioch, Grant, Lake Villa, Avon, Warren,

Wauconda

Pioneer Press, phone:

847

599

6900

Shields, Libertyville, Fremont, Cuba, Ela, West Deerfield,

Vernon,

Moraine

Rogue Tax Sale Investor

323

If you should have any further questions, please feel free to contact LeAnne Fischer at 847

377

2028 or

online at

lfischer@co.lake.il.us

ROGUE INVESTOR NOTE

: Information

about Joseph E. Meyer & Ass

ociates and the website

ILTaxSale.com is available at the end of the Illinois section under the header “

Private Sector Tax Sale

Administrators

.”

(3) Forms

http://www.co.lake.il.us/treasurer/form

s.asp

Application For Delinquent Property Tax Sale:

http://www.co.lake.il.us/elibrary/forms/treasurer/taxsalebuyerregistration.pdf

(PDF format

21KB)

If yo

u plan to attend this year’s sale, please complete the Application for Delinquent Property Tax Sale,

(after October 1st but not later then November 15th).

Date:

7/25/2007

) Contact the Treasurer

http://www.co.lake.il.us/treasurer/contact.asp

Robert Skidmore, Treasurer

18 N. County Street

Waukegan, IL 60085

Phone: (847) 377

2323

Email:

Treasurer@co.lake.il.us

COUNTY CLERK’S OFFICE

http://www.co.lake.il.us/cntyclk

(1) Tax C ertificate Program

http://www.co.lake.il.us/cntyclk/tax/certificate.asp

In 1981, the County Clerk's

Office pioneered an innovative program where the County acts as a tax

purchaser to collect delinquent taxes. We have recovered $15,000,000 through the Tax Certificate

Program. Nearly two

thirds or approximately $10,000,000 has been distributed to the taxin

g districts, with

the remainder retained by the County. The $15,000,000 has funded many essential programs and

activities that would not have been available without the Tax Certificate Program.

(2) Property Tax Redemption

http://www.co.lake.il.us/cntyclk/tax/redemption.asp

If the taxes due on a parcel of land are not paid by the statutory deadline, they become delinquent. The

County Clerk is responsible for receiving payment of all del

inquent taxes. Each December the County

Treasurer conducts a sale of the taxes past due and remaining unpaid for property in Lake County. For

information on pay

out amounts on sold delinquent taxes call (847) 377

2404.

When taxes become delinquent, proper

ty owners do not immediately lose their ownership of the property.

Property owners residing on the property have two and a half years in which to redeem their property and

protect their interest.

(3) Contact Information

http://www.co.lake.il.us/cntyclk/contact2.asp

Willard Helander, County Clerk

18 N. County Street, Room 101

Waukegan, IL 60085

Phone: (847) 377

2400

Fax: (847) 360

3608

Email:

cntycl

k@co.lake.il.us

Rogue Tax Sale Investor

324

MADISON COUNTY, ILLI

NOIS

http://www.co.madison.il.us

TREASURER’S OFFICE

http://www.co.madison.il.us/Treasurer/Treasurer.

shtml

Fred Bathon, Treasurer

(1) Office Location

http://www.co.madison.il.us/Treas/Treas_of.htm

Treasurer's Office

157 North Main Street

, Suite 125

Edwardsville, IL 62025

Email:

madcotreas@co.madison.il.us

(2) Important Real Estate Tax Dates an d Deadlines

http://www.co.madison.il.us/Treasurer/Treas_RETaxDea

dline.shtml

Publication run date: October 18, 2007 (approximate date; October 23, 2006 last year)

Publish in newspapers all taxpayers not fully paid: October 19

25, 2007; not less than 10 days before

judgment

is signed (approximate date: October 24

30,

2006 last year)

1st buyer list: November 1, 2007 (approximate date)

Final buyer list: November 9, 2007 (approximate date)

Last day to pay at local banks: October 26, 2007 (approximate date; October 27, 2006 last year)

Judgment

signed, within 5 business

days of sale: November 9, 2007 (approximate date; November 13,

2006 last year

)

Last day to pay before taxes are sold at tax sale: November 9, 2007 at 5:00 p.m. (approximate date;

November 9, 2006 last year)

Period to redeem taxes before property is sold:

Depends on property class. Generally, at least 2 years

with option to file extension to 3 years. Contact the County Clerk’s office for details.

Tax sale date: November 13, 14, 15, 2007 (November 15, 16, 17, 2006 last year).

(3)

Tax Sale Information

http://www.co.madison.il.us/Treasurer/Treas_Taxsale.shtml

(3a)

Real Estate Tax Sale General Information

http

://www.co.madison.il.us/Treasurer/Treas_Taxsale.shtml

Request for Taxpayer Identification Number and Certification (W

9) [PDF]

http://www.co.madison.il.us/Treasurer/PDF/W

9.pdf

Proce

dure:

The format of the tax sale is an oral auction. You or a representative must attend the sale to

participate. The order of the sale is by township, by parcel ID. The Treasurer’s Office reads the alternate

ID number and

judgment

amount for each parcel.

Bids may begin as high as 18% (semi

annual rate) with

the sale going to the lowest bidder. If no bid is received, the parcel is sold to the County’s trustee. Last

year, taxes on 2,851 parcels were offered for sale. The County’s trustee holds a deed auction

once each

year for those parcels that are not redeemed. For dates and information, contact the office of Joseph

Meyer, 141 St. Andrews Avenue

, P.O. Box 96, Edwardsville, IL 62025,

phone:

(800)

248

2850, Fax: (618)

656

5094.

Date and Location:

The offi

cial start date of the Madison County Tax Sale will be Tuesday, November

13, 2007. Only one parcel is sold on the first day in the Treasurer’s office. The remainder of the sale will

Rogue Tax Sale Investor

325

be held on November 14th and 15th. The sale will begin at 9:00 a.m. each d

ay. The sale will be held in

the Administration Building at 157 North Main Street, in Edwardsville, Illinois, in the County Board Room

on the second floor. If you want to be an individual buyer and purchase one parcel at 0%, please note it

on your registra

tion form.

**N

Registration:

There is a required $500 registration fee, which must be applied to the amount

due on the properties that the registrant has purchased. If the registrant cannot participate in the tax sale,

then he or she may notify the Tr

easurer’s Office, not later that 5 business days prior to the sale, of the

name of the substitute person who will participate in the tax sale. If the registrant does not attend the sale,

then the deposit is forfeited. You must register in writing at least

10 business days before the sale by

sending a letter to the Madison County Treasurer’s Office, P.O. Box 729, Edwardsville, IL 62025. Please

include your address, telephone number, and the name of the person attending. Each person or business

attending is r

equired to fill out a W

9 form, Request for Taxpayer Identification Number and Certification

when registering. W

9 forms are available in the County Treasurer’s or County Clerk’s offices or on our

website

http://www.co.madison.il.us/treasurer/treasurer.shtml

elect Tax Sale Information

)

List of Properties:

A tentative listing of available properties (printed report or on disk) is available

approximately 2 weeks before the sale for a f

ee of $250. This fee includes daily updates that are available

to pick up in the Treasurer’s Office, identifying additional parcels that have been paid and removed from

the sale. A “final” listing of available properties will be available on the Friday mor

ning before the sale, for

an additional $250 fee. This list will be final with the exception of any final adjustments that need to be

made at the last minute by our office. You must notify the Treasurer’s Office by 4:30 p.m. on the previous

Monday if you w

ant to purchase this “final” listing.

Payment:

Payment must be made immediately following the sale at the end of each day for the

judgment

amount (taxes plus penalties and interest) plus fees of $95 per parcel purchased. Payment is preferred by

check. Cre

dit cards are not accepted.

Stamp:

The County Clerk requires buyers to purchase a stamp for administrative purposes. Please

contact them at (618) 692

6290 or Suite 109.

The Treasurer’s Office does not advertise for the sale. Listings of d

elinquent properties

by township, by owner name, are published in area newspapers approximately

6 weeks before the sale.

Note

: The Alternate ID number is used to identify and offer properties during the sale but these are not

included in the newspaper li

stings. The sale is conducted in Parcel ID order. Also, most of these

properties are paid prior to the sale.

Foreclosure:

The Treasurer’s Office does not handle this process. Contact your attorney for additional

information.

(3b) Mobile Home Tax Sal e Gen

eral Information

http://www.co.madison.il.us/Treasurer/Treas_MHTaxSale.shtml

ROGUE INVESTOR NOTE

: See web page for information on the same topics as

provided related to

real

est

ate tax sales (

http://www.co.madison.il.us/Treasurer/Treas_Taxsale.shtml

)

(3c) Tax Sale Newspaper Articles

http://www.co.madison.il.us/Treasurer/Treas_TaxSaleNewspaper.shtml

October 15, 2006

–

The Telegraph (PDF):

http://www.co.madison.il.us/Treasurer/PDF/Tax

Sale_101506_TheTelegraph.pdf

October 16, 2006

–

The Telegraph (PDF):

http://www.co.madison.il.us/Treasurer/PDF/TaxSale_101606_TheTelegraph.pdf

Rogue Tax Sale Investor

326

COUNTY CLERK’S

OFFICE

http://www.co.madison.il.us/CountyClerk/CountyClerk.shtml

Honorable Mark A. Von Nida

Madison County Administration Building

157 N. Main Street

Suite 109

P.O. Box 218

Edwardsville, IL 62025

0218

Phone:

(618) 296

4482

PRIVATE SECTOR TAX SALE ADMINI STRATORS

ILTAXSALE.COM

http://www.iltaxsale.com/new/index.php/main

Illinois online tax sale website: tax dee

d foreclosed property and assignable tax certificates.

ROGUE INVESTOR NOTE

: Web page has a listing of auction dates by county, and includes the

minimum bid.

(1) Company

http://www.iltaxs

ale.com/new/index.php/main/company

One of Joseph E. Meyer & Associates` central functions is serving as the Delinquent Tax Agent (trustee

for taxing districts) for 78 of 102 counties in Illinois. Properties not purchased by tax buyers at the County

Tax

Sales are enrolled in the trustee program and managed by Joseph E. Meyer & Associates. After the

redemption period expires on delinquent properties, Joseph E. Meyer & Associates obtains tax deeds on

behalf of the county and sells the properties at public

auction. These auctions are conducted verbally or

by sealed bid.

(2) Contact

http://www.iltaxsale.com/new/index.php/main/contact

Joseph E. Meyer & Associates

141 Saint Andrews Ave

nue

Edwardsville, IL 62025

Phone:

(618) 656

5744

Email:

contact@josephemeyer.com

(3) FAQ

http://www.iltaxsale.com/new/index.php/main/faq

Cat

alogs

When and where are the catalogs available?

The catalogs are available approximately 30 days before

the date of the auction at the County Treasurer's office or online.

How much do the catalogs cost ?

The cost of the catalogs will vary from county to

county. Generally,

catalogs are priced between $2.00 and $25.00.

Can I obtain a catal og without going to the Treasurer's office?

Yes, you can now purchase them on

www.iltaxsale.com

Auctions

Where are auctions

held?

The sales are held in the county whose property is being sold and the

location will vary from county to county. (Please see our complete list of auction sale dates and locations.)

Rogue Tax Sale Investor

327

What is the bidding process?

There are two types of auctions that we

conduct.

Verbal or Open Auctions: In this process the property is sold to the highest bidder on the day of the sale

and while occurring you have the opportunity to raise your bid to the highest level you wish to bid.

Sealed Bid Auction: Only allows you

to make one bid on the property. In a sealed bid auction, your first

bid must be your best bid.

Can I bid on an item prior to the auction?

Yes you may if you are unable to attend the sale. The

"absentee bidder form" is available in the front of each ca

talog or at this website and is

only

accepted in

open or verbal auctions.

Where do I send completed sealed bids to?

Sealed bid forms must be completed as shown on the

Bidding Instruction page and be accompanied by payment in full, and mailed into the Co

unty Treasurer's

office.

When will I find out if my bid was the winning amount?

All bidders will be notified of their success

within a few business days after the close of the sale and following receipt of the information from the

County Treasurer.

at payment methods are accepted on the date of the sale?

We accept all forms of funds, including

cash, cashier's check, money order, bank draft, or personal check. However, if someone has previously

issued a check that has been returned for any reason, tha

t party will be required to pay in full with

certified funds on the date of the sale.

What amount will I be responsible for paying on the date of the sale?

At live auctions, you will be

required to pay $600.00 (plus a 1% auctioneer's fee, as well as a r

ecording fee) or 20% of the final

purchase price, whichever is greater. At a sealed bid auction, bidders are required to pay in full the

amount of their bid.

When is the balance due if I am not required to pay in full t he date of the sale?

The remaining

balance of your purchase is due within 60 days from the date of the sale.

When will I receive the deed to my newly purchased property?

Deeds can be expected

approximately 90 days after the balance is paid in full.

General

Why are these properties bein

gsold?

The properties are being sold as a result of nonpayment of real

estate taxes.

What happens to the properties that do not sell at the auction?

There is a small window of time after

an auction in which items that did not sell can be purchased outri

ght for the minimum bid of $600.

Otherwise, it will be placed in the next scheduled auction for that county.

If I purchase one of these properties at an auction, will I be responsible for paying any back

taxes?

No. All items sold through our auctions are

free and clear of all back taxes.

When will I be responsible for paying taxes on the property?

You will be responsible for paying the

taxes beginning January 1 of the year following the auction.

Do I need to conduct a title search on the property?

suggest that all purchasers conduct their own

title search after becoming the successful bidder on the property.

Are ther e any liens on the property that is being sold?

Generally, there are no liens upon those

properties being sold. We do not guarantee t

hat the property is free and clear of all liens.

What if the property that I purchase i s currently occupied?

We advise all prospective buyers to

discuss such situations with their attorney.

Rogue Tax Sale Investor

328

Indiana

Tax Lien Sales:

Yes

Over

the

Counter Tax

Lien Sales:

Tax Deed Sales:

Yes

,SurplusAuctions.

Over

the

Counter Tax Deed Sales:

Rating:

Five Stars (*****)

Interest Rate:

Flat

10%

interest

on the minimum bid

the

tax lien is r

edeemed in less than six

months.

This means your effective a

nnual interest rate could be as high as 120% if the lien is

redeemed in one month or less.

Flat

15%

interest

on the minimum bid

the

tax lien is redeemed

in more than six months but less than

year.

Interest on the overbid amount is 1

per annum

Inter

est on any taxes or assessments paid by the investor after the sale is 10%.

If the sale is

declared invalid before the deed, the investor receives 6%. If the sale is declared invalid after

the deed, the investor receives 10%.

Sale Period:

Tax sales must b

eheldbetweenAugust1andOctober31

Redemption Period:

1year

for “A” and “B” properties; 120 days for “C” properties.

extended right of redemption following the tax deed sale.

Bidding Process:

All auctions are by competitive bid.

The w

inning bi

dder pays the most for the

tax lien or tax deed.

State

Specific Information:

Item nu

mbers at the tax lien sale beginning with “A” were not in

the previous year’s sale. “B” items were in the previous year’s sale but were not sold and still

have delinquent

taxes. “C” items were identified for redevelopment.

If the owner does not

redeem the tax lien certificate, you must apply for a tax deed within six months after the

redemption period expires or forfeit your money.

The statute governing tax sales affords

the County Auditor and County Treasurer options

reg

arding the way in which the tax s

ale may be conducted. Therefore, the ex

act procedures by

which a

tax sale

is conducted

for properties with delinquent taxes and special assessments may

differ from county t

ocounty.

As of 2007,

buyers

of tax deeds at surplus auctions

will not be

issued a deed until any delinquent property taxes are made current on property they currently

own.

Indiana County Links

See

Indiana

Tax Sales

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

Rogue Tax Sale Investor

329

INDIANAPOLIS AND

MARION COUNTY, INDIA

http://www.indygov.org

TREASURER’S OFFICE

http://www.indygov.org/eGov/County/Treasurer/home.htm

Mike Rodman, Treasurer

200 E. Washington Street, Suite 1001

Indianapolis, IN

46204

Phone: (317) 327

4444

TDD: (317) 327

5186

Fax: (317) 327

4440

(1) Tax Sal

http://www.indygov.org/eGov/County/Treasurer/Sale/home.htm

The ne

xt Tax Sale will be in October

2008.

Pleas

e check this website in August

2008 for more

information.

Note

: The

Tax Sale item list is

not available.

It will be available on the Treasurer's web page closer to the

date of the sale.

(1a) Introduction

http://www.indygov.org/eGov/County/

Treasurer/Sale/introduction.htm

The following information and procedures apply to Marion County

only.

The statute governing tax sales in

Indiana (I.C. 6 1.1 24 & I.C. 6 1.1 25) affords the County Auditor and County Treasurer options regarding

the manner

in which

the Tax Sale may be conducted.

Therefore, the exact procedures by which a county

conducts a tax sale for properties with delinquent taxes and special assessments may differ from county

to county.

This public auction or "Tax Sale" of real property

is required by Indiana

law.

While some unfortunate

circumstances may exist which result in some properties being offered for

sale, it is

nonetheless

required

that all properties with delinquent taxes, penalties, and special assessment liens for unpaid sew

er user

charges, delinquent weed cutting fees, delinquent solid waste service fees, delinquent storm water fees,

delinquent health and hospital liens, and DMD liens as specified by law, be auctioned at the Treasurer's

Tax Sale.

The Tax Sale enables the Tr

easurer to collect the revenue that has been levied for the operation of nearly

50 governmental units and school districts within Marion County. The staffs of the Marion County

Treasurer and Marion County Auditor appreciate the attention of prospective bid

ders and buyers to the

procedures governing this Tax Sale. Thank you for your participation. Your comments are welcome.

(1b) General Points of Interest

http://www.indygov.org/eG

ov/County/Treasurer/Sale/general.htm

All dates are tentative at this time.

The sale is to begin as a public auction at 9:00 a.m. Eastern Daylight Time, Thursday, October 18, 2007.

(Tax Sale instructions will begin at 8:30 a.m. in the Public Assembly Roo

m and will continue until the sale

begins at 9:00 a.m.

)

All times are Eastern Daylight.

On Thursday, October 18, 2007, the sale will run from 9:00 a.m. to noon, followed by a one

hour lunch

break;

then it will continue from 1:00 p.m. to

4:00 p.m.

It is u

nlikely that we will be able to offer all available properties for sale on Thursday, October 18, 2007

that is the situation, the sale will resume at 9:00 a.m. on Friday, October 19, 2007. The number of parcels

left to offer for sale on Friday, October

19, 2007 will determine the need to take a lunch break.

Rogue Tax Sale Investor

330

On both Thursday, October 18, 2007, and Friday, October 19, 2007, the sale will be held in the Public

Assembly Room (Room 230), 2nd floor of the City

County Building

200 E. Washington Street,

Indian

apolis, IN 46204.

The properties remaining unsold at the end of the sale on Friday, October 19, 2007, will again be offered

on Wednesday, October 24, 2007, at 9:00 a.m. EDT in Room 260 of the City County Building.

If a parcel is not sold on October 18, 1

9 or 24, 2007, it will not be offered for sale again.

The "parcel number" identifies a property. There may be an owner and/or address advertised and/or read

at the sale, but the parcel number identifies the exact property offered for sale.

Parcels will b

e offered for sale in Item Number sequence, as identified in newspaper ads. This means that

"A" items (item numbers starting with A) will be offered first, followed by "C" items.

At the sale, parcels beginning with "A" will be offered in groups of 25 item

s at a time, such as items

A00001 through A00025. Any bidder may call out an item number within that range. A call for a specific

item number such as A00017 is considered a minimum bid for that item. Once the minimum bid is made,

that item is auctioned to

the highest bidder. If the item called for is no longer in the sale, that fact will be

announced, and a call for another item within that group of 25 will be accepted. This procedure will

continue until there are no more calls for item numbers within the g

roup being considered. At that time,

the next group of 25 item numbers will be offered. After all "A"

items have been offered once,

this

procedure will be repeated for parcels beginning with "C".

After all "A" and "C" items have been offered once, the Tre

asurer will open up the auction for all available

items to be offered on a first

sked, first

offered basis.

A call for a specific item is considere

d a minimum

bid for that item.

Once the minimum bid is made, that item is auctioned to the highest bidder.

Item numbers beginning with "A" were not in last year's sale. "C" items have been identified by the

Metropolitan Development Commission for redevelopment. "C" items that are sold have a maximum

redemption period of 120 days rather than the one

year redempt

ion that applies to "A" items.

A complete list of Tax Sale items available for sale will be available in three sources:

Newspaper:

Properties available for sale will be advertised in The Indianapolis Star and the Court

& Commercial Record on the follo

wing Wednesdays:

September 05, 2007

September 12, 2007

September 19, 2007

CD:

The CD will be available in Microsoft Excel and can be purchased from the Treasurer's office

on or after September 5t

h at the cost of $20.00 per CD.

The parcels that appear on

the CD will be

the same as those that appear in the first newspaper advertisement (September 5, 2007

Updated tax sale lists will not be available on CD.

Web page:

Beginning on or shortly after Wednesday, September 5th, the Marion County

Treasurer's Web

page will have the most current list of properties available for sale. The list will

be updated daily and will be in the same format as the

newspaper listing and the CD.

The list can

be downloaded.

An updated list of Tax Sale items still eligible for sa

le will be available from the Treasurer each

day, beginning Wednesday, September 5th, and each day thereafter until the Tax Sale ends on

October 24, 2007

The list will include items available as of 8:00 a.m. on the morning it is printed.

There will be a $

3.00 charge per list

to cover the cost of printing.

Only the Tax Sale Item Number

will appear on the list, so it will be necessary to have one of the original listings to be able to

obtain other information about those unsold parcels.

Rogue Tax Sale Investor

331

On or before Friday

, August 31, 2007, the Marion County Auditor will send a letter by Certified Mail to

owners of all properties which at that time are eligible for the 2007 Marion County Tax Sale.

Any payment made to the Marion County Treasurer by an owner to withdraw a p

arcel from the sale or by

a successful bidder at the sale must be p

aid by cash, by any certified check, by any cashier's check or by

any official c

heck that is issued by a financial institution.

No money orders, personal checks, or business

checks will be

accepted.

(The Treasurer will not accept more than $7,500.00 in cash from any one bidder,

for the period of July 2 through the duration of the sale.)

The Tax Sale buyer's interest in the property is limited to a lien on the purchased property until: 1) th

property is redeemed; 2) a Tax Deed is issued; or 3) six (6) months has elapsed after the expiration of the

redemption period, whichever occurs first.

There is a one

year period following the sale of each "A" item (120 days for "C" items) during which t

delinquent owner, occupant, or person with a substantial property interest of public record may "redeem

the property

" a term meaning to retain possession by paying all monies owed to the county plus required

fees.

Redemption of property purchased in a

Tax Sale results in the parcel remaining in the current owner's

name.

If a parcel sold in the "A" sale is not redeemed prior to one year from the date of sale (120 days for "C"

items), the Tax Sale buyer may present the Tax Certificate to the County Audi

tor and receive a Tax Deed

to the property granting title to the property to the buyer or assignee of the buyer.

A person who wants to redeem a property should contact the Marion County Auditor, Room 841 of the

City

County Building, to have an exact calcu

lation of the redemption cost made. That amount must be

paid to the County Auditor within one year of the date of sale of an "A" item (120 days for "C" items). The

redemption amount will be equal to the minimum bid required by the Treasurer, plus a redempt

ion fee

calculated on the minimum bid paid by the successful bidder (percentages listed below), plus 10% per

annum interest calculated on the difference between the minimum bid and the amount paid by the

successful bidder (referred to as Tax Sale Overbid),

plus any taxes, penalties and special assessments

paid by the buyer subsequent to the date of sale, plus 10% per annum interest on those subsequent

payments. (

Note

: The redeeming party does not have to repay the overbid amount, but they are required

to pa

y the 10% per annum interest on the overbid amount.) The redemption fee will be calculated in two

parts (three parts if taxes are paid subsequent to the Tax Sale):

On the minimum bid:

110% of the minimum bid if redeemed not more than 6 months after the da

te of sale;

115% of the minimum bid if redeemed more than 6 months but n

ot more than one year after

the

date of sale.

On the difference between the successful bid price and the minimum bid (ref

erred to as Tax Sale

Overbid):

10% per annum interest from the

date of payment to the date of redemption

On any taxes and special assessments paid by the Tax Sale

buyer subsequent to the sale:

10% per annum interest from the date of payment to the date of redemption

If, before redemption or the execution of a Tax

Deed, it is found that the sale is invalid, the Tax

Sale buyer is not entitled to a Tax Deed, but shall be entitled to a refund of the purchase price

plus 6% per annum interest.

If, after the execution of a Tax Deed, it is found that the deed is invalid

pursuant to I.C. 6

1.1

(

http://www.ai.org/legislative/ic/code/title6/ar1.1/ch25.html#IC6

1.1

)

, the Tax Sale buyer is entitled

to a lien on the property

in the amount of the purchase price, any taxes or special assessments paid

subsequent to sale, and any amount due the Tax Sale buyer as an occupying claimant plus interest at

10% per annum.

Rogue Tax Sale Investor

332

(1c) Informati on for Buyers of P roperties in This Year’s Sale

http://www.indygov.org/eGov/County/Treasurer/Sale/buyers.htm

All dates are tentative at this time.

Every Tax Sale buyer will be required to have a bidder number in order to bid on

a parcel in the public

auction.

Successful bidders are not allowed time to "go to the bank" to secure funds to pay for their purchase(s).

Bid

account bidders will be assigned a white bidder paddle with a bidder number in the range of 100

499.

To obtain

a bidder number the bidder must pre

omplete the registration form.

The form

requests name and address (as they are to appear on the Tax Sale Certificate & W

9), phone number,

and Social Security Number (or Federal I.D. number), must attest t

o informatio

n pursuant to IC6

1.1

5.3

(

http://www.ai.org/legislative/ic/code/title6/ar1.1/ch24.html#IC6

1.1

5.3

They must establish their

account with qual

ified funds that may be deposited with the Treasurer in Room 1022 of the City

County

Building through October 17th or in the Public Assembly Ro

om on the day of the Tax Sale.

Paymen

t must

be made by cash, by any certified check, by any cashier's c

heck or

any official c

heck that is issued by

a financial institution. Qualified checks must be for the exact amount of purchase and made payable to

the Marion County Treasurer.

No money orders, personal checks, or business checks will be accepted.

(The Treasu

rer

will not accept

more than $7,500.00 in cash from any one bidder, for the period of July 1

thro

ugh the duration of the sale.)

Tax Sale purchases will be charged to the bidder's account by

presenting the bidder number at the conclusion of each successful bid

. If a deposit bidder's balance with

the Treasurer becomes too low to make subsequent purchases, the bidder will be required to deposit

additional acceptable funds before making additional purchases.

Beginning on or shortly after Wednesday, September 5th,

the Mari

on County Treasurer's Web page

will

have the most current list of properties available for sale. The list will be updated daily and will be in the

same format as the

newspaper listing and the CD.

The list can be downloaded.

The minimum bid that

will be accepted on any property must be equal to all taxes, penalties, and special

assessments presently due on the parcel

–

including the November 10, 2007, property tax installment

and service fees (if any)

–

plus a $300.00 Administrative Cost.

By wri

tten agreement with the Marion County Treasurer, the Marion County Auditor will

perform

the duties

of notification and title search under I.C. 6

1.1

25.

4.5

(

http:/

/www.ai.org/legislative/ic/code/title6/ar1.1/ch25.html#IC6

1.1

4.5

)

, and notification and petition to

the court for a tax deed under I.C. 6

1.1

4.6

(

http://w

ww.ai.org/legislative/ic/code/title6/ar1.1/ch25.html#IC6

1.1

4.6

)

. Certain parcels owned by the

same person may be sold, and must be redeemed, together with one or more other parcels.

The Administrative Cost includes an Advertising Fee and Title Sear

ch Fee that is charged with each sale

and is to enable the Marion County Auditor to secure such a service so that all interested parties of public

record may be informed by the Auditor of the impending issuance of a Tax Deed to a different owner. The

searc

h remains the property of the County Auditor.

After a minimum bid has been received for a particular item number the bidding will proceed in

increments deemed appropriate by the auctioneer based on the number of bidders.

No one should bid in this Tax Sal

e who does not have the correct type of payment at the time of

becoming a successful bidder. A high bidder who fails to immediately pay the bid price in acceptable

funds must pay a penalty of 25% of the amount of the bid (subject to prosecution

IC. 6

1.1

[

http://www.ai.org/legislative/ic/code/title6/ar1.1/ch24.html#IC6

1.1

]

All sales are final!

There will be no refunds or exchanges. Prospective buyers a

re urged to research

available properties thoroughly to aid in identifying the exact piece of property id

entified by the parcel

number.

Research may include, but not necessarily be limited to, a review of:

Rogue Tax Sale Investor

333

liens recorded with the Marion County Recorder;

plat maps in the appropriate Township Assessor's office;

orders of the Department of Metropolitan Development concerning demolition orders and unsafe

buildings;

sewer user charges, solid waste service fees, and/or weed cutting charges that have not been

certified to the Treasurer by the Department of Public Works; and

Health & Hospital charges that have not been certified to the Treasurer.

The IRS may claim redemption rights in properties sold which are subject to Federal tax liens pursuant to

a right o

f redemption established under 26 U.S.C. §7425 which is different than that provided under

Indiana Statute.

If a successful bidder buys a "pig in a poke

" the buyer will get just that.

All bidders:

the Treasurer will refund any excess of deposits over pu

rchases when the bidder advises the

Treasurer that no more purchases are planned. Such refund will be made by County check within several

days of the request to close the account.

Tax Sale buyers run a risk of trespassing if they make a purchase and attem

pt to enter the premises or

exercise any ownership rights during the redemption period which is prior to the time a Tax Deed is

issued in the buyer's name.

At the conclusion of each parcel sale, the Treasurer will issue a receipt for

the amount paid. (Rec

eipts for

bidders will be held by the Treasurer until the bidder closes out his/her account with the Treasurer.)

After 4

6 weeks from the date of sale, the buyer may present the Tax Sale receipt to the Marion County

Auditor, Room 841 of the City

County Bu

ilding, in order to receive a Tax Certificate evidencing the buyer's

lien against the property.

While the minimum time to exchange a Tax Certificate for a Tax Deed to an unredeemed property is one

year for "A" items (120 days for "C" items), the maximum t

ime for such action is six (6) months after the

expiration of the redemption period.

The Tax Sale buyer's lien expires six (6) months after the expiration of the redemption period.

A Tax Sale buyer may pay any taxes, penalties, and/or special assessment

s which become due on the

parcel subsequent to the Tax Sale but before the redemption period expires. Such payments can be

made by requesting a bill in person from the Marion County Treasurer. It is the Tax Sale Buyer's

responsibility to record any such pa

yment in the Auditor's office if the buyer expects to be reimbursed

when the property is redeemed.

If redemption is accomplished, the buyer will be reimbursed for recorded payments of subsequent taxes,

penalties, and/or special assessments plus interest a

t the rate of 10% per annum.

If the parcel is not redeemed and the Tax Sale buyer surrenders the Tax Certificate to receive a Tax

Deed, all delinquent taxes, penalties, and/or special assessments which became due subsequent to the

Tax Sale must be paid be

fore the Auditor will petition the court to issue a Tax Deed to the Tax Sale buyer.

All buyers who are to receive payments as a result of redemption of property they have purchased will be

required to complete Form W9 to give the County Auditor sufficient

information to be able to issue and

report on Form 1099

INT the amount of interest and redemption fee received.

(1d

9Form

http://www.irs.gov/pub/irs

pdf/fw9.pdf

Rogue Tax Sale Investor

334

BOA RD OF

COMMISSIONERS

http://www.indygov.org/eGov/County/Comm/home.htm

Room 801

City

County Building

200 E. Washington St

reet

Indianapolis, IN 46204

)County

Owned Surpl us Sale

http://www.indygov.org/eGov/County/Comm/surplus/home.htm

County

owned surplus property auction

Auction date for 2008: Monday, March 10, 2008

Public Assembly Room, 2

Floor, Room 260

Registration begins 1:30 p

.m. Auction begins 2:00 p.m.

Procedures

Auction Dates for 2005:

April 21, 2005

;

June 16, 2005

;

August 18, 2005

Public Assembly Room

2nd Floor, Room 230

Registration b

egins 1:30

p.m.

Auction b

egins 2:00

p.m.

The public is invited and encouraged to con

duct a drive

by inspection of any parcel included on the

surplus property auction list.

Bidders please be aware that some parcels may be landlocked, may be

narrow strips only, irregular or may not have street frontage, may have alley access only or may hav

possible encroachments.

Bidders must register at the door before entering, providing name, address, phone number, and be

issued a bidder number.

Once the Auction has been closed, bids may not be withdrawn.

All sales are final. No refunds will be give

Sale will proceed by sequence of written order of the notice.

Bidding will start at the minimum bid.

All properties that s

ell for five hundred dollars ($500.00)

or less must be paid in full at the time of the sale

in the Public Assembly Room.

All p

rop

erties that sell for more than five hundred d

ollars ($500.00) must have a minimum earnest money

deposit of

five h

undred

ollars ($500.00) at the time of sale. P

roperties with minimum bids of ten

thousand d

ollars ($10,000) or more will require a five per

cent (5%) earnest money deposit at the time of

sale. The remaining balance

to be paid in full the following day in Room Number 1045 of the City

County Building between 8:00

a.m. and 12:00 n

oon.

It is understood that in the event a bidder does not pay t

he remaining balance by 12:00 noon on the

following day of the sale, the earnest money is forfeited by the bidder.

Office of the Marion County Board of Commissioners, County

Owned Property Division, will process the

resulting deeds and disclosure forms, i

ncluding recording.

The bidder submitting the next

highest bid shall be considered as an alternate bidder. In the event the

highest bidder defaults in presenting monies in full by the required deadline, the alternate bidder's bid will

be considered. In

this event, payment must be received by the alternate bidder within

hours from

notice of opportunity to purchase.

Rogue Tax Sale Investor

335

Alternate bidders are obligated to their bid.

Payment may only be made by

cash, certified check, cashier’s check or official check.

Certi

fied, cashier

’

and o

fficial checks must be made payable to the Marion County Treasurer. Do not bid if you do not have

the correct type of payment.

If any improvement is occupied, it is without our consent. The County is not responsible for evictions.

he Marion County Board of Commissioners

does not

warrant that these properties are free and clear of

all encumbrances, easements, encroachments, judgments, liens,

right

way restrictions. The title

transfer is in the form of a Quitclaim Deed. "Once th

e Auction has been closed, bids may not be

withdrawn." All bidders are encouraged to hire a real estate attorney to perform a quiet title action to

remove all liens, judgments, etc.

Marion County expressly disclaims any warranties, expressed or implied, a

s to its merchantability,

habitability or fitness for a particular purpose. Any and all such property is to be sold on an

“as is”

condition, with award to the highest bidder.

The County assumes no responsibility for any changed condition of the

property f

rom the date of the

uction until delivery of the deed to the purchaser. Purchaser understands that he accepts all risk of loss

to the property during that time.

New in 2007:

In accordance with new state legislation, Marion County will be r

eviewing the ta

x status of

all c

ounty

owned s

urplus buyers.

County

owned s

urplus buyers will not be issued a deed until any delinquent property taxes are made

current on property they currently own.

Failure to bring all delinquent property taxes current may result in t

he voiding of sale of the parcel,

application of money rendered to the delinquent taxes, and the resale of that parcel in a subsequent sale.

Information Regarding Demoliti on Orders

Anyone purchasing property is advised to contact the

Marion County Health

Department at 221

2150 to determine whether demolition or repair orders hav

been issued on the property.

Demolition and repair orders can be iss

ued after the date of the sale.

It is

the responsibility of the purchaser to verify whether demolition or repa

ir orders have been issued for the

property. The purchaser accepts the property subject to any orders issued by the Marion County Health

Department.

Purchaser has no authority to enter the property until he receives the deed to the property. The County

ll use reasonable efforts to deliver the deed in a timely manner.

All properties are subject to ta

x assessment in 2008, due and payable in 2009

if obtained before March 1,

200

. If obtained after the March 1, 200

assessment date, taxes will be due

201

Unlike a common auction, the transaction is not completed with the termination of the bidding. The

highest bid will be accepted and will require the Mayor's approval.

The street address being used is not necessarily the legal address. The addre

ss used

is for reference

only.

Anyone intending to apply for an improvement location permit will have to verify the correct street

address and zoning with the Permits Division

(

http://www.indygov.org/Ser

vices/permits.htm

)

of Plannin

and Zoning, 604 N. Sherman Drive

, Indianapolis

, Indiana.

High bidders are responsible for contacting the Township Assessor's Office

(

http://www.indygov.org/eGov/

County/Assessors

)

to verify accuracy of the assessed valuation against the

property.

Once the a

uction has been closed, we

will not

open bidding for the parcels again today.

All sales require a

pproval of the Mayor.

Rogue Tax Sale Investor

336

Data given about properties to be au

ctioned is given as a courtesy and is for information only. The Marion

County Board of Commissioners does not guarantee the accuracy of the information given. Each bidder

has the responsibility to independently verify or obtain whatever information he or s

he feels necessary

prior to submitting a bid.

How to r

ead

roperty

tatus:

First Time in Surplus Sale

Offered in Prior Surplus Sale

Potential Environmental Contamination Problem

Where to call for question s:

Surplus Properties and Auctions

Mar

ion County

Owned Real Estate

Suite 1041

City County Building

Phone:

(317) 327

4030

Demolition and Repair Orders

Marion County Health Department

Health and Hospital Corporation

3838 N

Rural Street

Indianapolis, IN 46205

Phone:

(317) 221

2150

Property

Taxes

Marion County Treasurer's Office

Suite 1001

City County Building

Phone:

(317) 327

4444

Property Tax Deductions

Marion County Auditor's Office

Suite 841

City County Building

Phone:

(317) 327

4646

Deeds

Marion County Recorder's Office

Suite 7

City County Building

Phone:

(317) 327

4020

Zoning

Department of Metropolitan Development

Suite 1821

City County Building

Phone:

(317) 327

5155

Notice:

If you previously owned a property which was sold in a tax sale, and you failed to redeem the

roperty before a tax deed was issued to the County, Indiana law limits the circumstances under which

you or your agent may now purchase that property at a surplus auction.

No property may be sold to a person who is ineligible under section 36

16 of t

he Indiana Code.

Section

provides

(A) This section applies to the following:

(1) A person eligible to redeem a tract under IC 6

1.1

1 who did not redeem the tract before a

deed for the tract was issued to a county under IC 6

1.1

(2)

A person who is an agent of the person described in subdivisions (1).

Rogue Tax Sale Investor

(B) A person subject to this section may not purchase, receive, or lease a tract the person was

eligible to redeem when the tract is offered in a sale, exchange, or lease under this ch

apter unless:

(1) The county was issued a deed to the tract under I

1.1

4 more than five (5)

years before the

tract is offered for sale, exchange, or lease under this chapter; or

(2) The person pays the county treasurer an amount equal to the amoun

t required to redeem the tract

when the county was issued a deed for the tract under IC 6

1.1

4 before the sale, exchange or

lease under this chapter is executed by the county.

not eligible to purchase

receive or lease under this section, the sale, transfer, or lease of the property is VOID and the county

retains the interest in the tract it possessed before the sale, transfer or lease of the tract.

Therefore, anyone who is purc

hasing property previously held by them or by their principal and was

forfeited because of delinquen

t taxes within the last five years

must submit payment to the Office of the

Marion County Treasurer of all past due amounts no later than 12:00 noon of the

following day when the

auction payment balance is due.

) General Information

http://www.indygov.org/NR/rdonlyres/B4DC9070

F519

4BFF

8A33

702C94371E46/0/ COUNTYOWNED

PROPERTY.pdf

To Contact Us:

Kevin Vaughn

County

Owned Property Division

200 E. Washington Street, Suite 1041

Indianapolis, IN 46204

hone: (317) 327

4030

What Is County Owned Surplus Real Estat e?

After a parcel has gone

through the annual tax sale two

consecutive years and is not purchased, the county takes a lien on the property. Surplus Auctions are

held to sell these parcels. To sell the parcels, the county takes title in Marion County’s name by virtue of a

tax title d

eed and removes all the taxes owing. The property is appraised and a minimum bid amount

established. When property is purchased from the County,

there is no redemption period;

the parcel is

yours as soon as you receive the recorded deed. The property is co

nveyed by

quitclaim deed, which the

county records.

Procedures For Our Auctions:

A handout explaining the procedures is available in the office, on the

Internet, or in the newspaper when notice of sale is published. This handout gives a detailed explanati

of the procedures and payment policies, the county’s responsibilities, and the buyer’s responsibilities.

All properties that sell for $500.00 or less must be paid in full at the time of the sale.

All properties that sell for more than $500.00 require

a minimum earnest money deposit of $500.00;

properties selling for more than $10,000 require 5% earnest money deposit at the time of sale. All

balances

are

to be paid in full

by noon the following day in room 1001 of the City

County Building.

To Obtain a

Listing:

A listing of the properties to be offered becomes available approximately one month

prior to each sale. The list is available via the Internet, newspaper publication, or in our office:

Internet

http://www.indygov.org/eGov/County/Comm/surplus

This site is updated one month

prior to each auction. After the sale it will be updated to show which properties were sold.

Newspaper

A legal notice is published in both the Indianapolis Star

and the Court & Commercial

Record two times prior to the auction. This is a complete listing, including the procedures.

In the

City

County Building

: The list can be purchased for $3.00 in room 1041 on the 10th floor of

the City

County Building.

Reminder P

ostcard

Unfortunately we are not able to mail or fax the list of properties available for

sale. There is a reminder postcard sent in January to announce sale dates.

To be included in our

reminder list please contact Kevin Vaughn at 327

4030.

Rogue Tax Sale Investor

338

PRIVATE SECTO

R TAX SALE ADMINISTRATORS

SRI INCORPORATED

http://www.sri

taxsale.com

SRI was created over fifteen years ago, as the vision of James Hughes who saw the potential for

assisting county government as a result of

a new tax sale law. That vision proved to be 20/20. In those

fifteen years, SRI has grown to become the tax sale experts and its name is now synonymous with tax

sales.

(1) Contact Information

http://sri

taxsale.com/contact.asp

SRI's office is located at 8082 Bash, Indianapolis, Indiana 46250. Or just email us at

jhughes@sri

taxsale.com

(2) Commissioner’s Sales

http://sri

taxsale.com/commissioner.asp

The natural progression of selling tax reverted properties is to sell the deeds to the properties of which the

county obtains ownership. The Indiana General Assembly has recently created new law to

allow the sale

of certificates by the commissioners. Of course, SRI was active in that legislation and as a result, we are

on the formative edge of that process. SRI conducts both deed sales for commissioners as well as the

new certificate sales. SRI is th

e only company in Indiana that has conducted these certificate sales.

Again, our expertise in the area of tax sales has led us to an unequalled expertise in the area of

commissioners’ sales, too.

) Online Auctions

http://sri

taxsale.com/auctions.asp

An on

line auction is where various items are being offered for sale on the internet. During this type of

sale, the highest bidder typically wins. However, different rules apply to different types of sale

Increasingly, treasurers throughout the country are looking for more effective and efficient ways in

conducting public auctions. SRI has found a way to accomplish this task for them. By conducting public

tax sale auctions on

line, treasurers are able

to quickly place properties back on their tax rolls and collect

funds due to the counties. SRI has a website,

www.sri

auctionsonline.com

where these types of sales are

being conducted. In the near future,

other public auctions will be conducted on this site.

(3a) SRI

AuctionsOnline.com

https://www.sri

auctionsonline.com

Phone: 1

800

9588

Answers to frequently asked questions:

https://www.sri

auctionsonline.com/help/ SRI_Auctions_ Q_A.pdf

) Indiana Tax Sales

http://sri

taxsale.com/indiana

taxsale.asp

We con

uct tax sales for many of the c

ounties in Indiana. F

or information about sales and tax sale dates

for Indiana counties c

lick

on the following link:

http://sri

taxsale.com/taxsaledates.aspx

. You will

also find

contact information for the County Sale Director. Choose the county that you are interested in on the map

and click on it.

SRI works hard to provide you with as much helpful data as possible. See the links to the left

for Indiana

sale infor

mation.

2006

Tax Sale Statistics

http://sri

taxsale.com/taxsale_stats_2006.htm

Rogue Tax Sale Investor

339

b) Frequently Asked Questions

http://sri

taxsale.com/faq

.html

What is the date and time of the next tax lien sale?

Please refer to

the Tax Sale Dates link on our web

site at

http://www.sri

taxsale.com/taxsaledates.aspx

Where and when will the a

uction/sale be advertised?

Please refer to the Free Property Information

(

http://sri

taxsale.com/propertyinfo.html

) on another page from our web s

ite. It will list where the auctions

will be adverti

sed. However, it will not give an exact advertising date. You can call the individual

newspapers and they will be able to give you exact advertising dates by the second or third week in July.

How often do you advertise sales?

The tax lien sales are adver

tised according to the sale dates. They

are advertised for three consecutive weeks. Please refer to the Free Property Information

web page

(

http://sri

taxsale.com/propertyinfo.html

)

for approximate

dates.

Is it possible to register by mail?

Yes, it is possible to register by mail for the counties that we assist.

However, you must mail a registration form to our office with the counties that you wish to register to bid

at. Please contact our offices

for the registration form.

What type of payme nt is required?

Cash or certified f

unds will be accepted.

What type of bidding process will be used?

This is an open aucti

on format. The starting bid is

the

amount advertised in the local newspapers, the lo

west amount that can be accepted by law.

Will the sale be final?

Yes, the sale is final. Once the auctioneer says sold, the lien on the property is

yours and you are obligated to pay for that lien.

Will other liens be cleared from the property as a res

ult of the sale?

Liens will not be removed as a

result of the sale. However, if you as the tax lien buyer comply with the laws and acquire a tax deed on

the property all liens will be removed with the exception of Federal and State liens.

If a forecl osur

e is necessary, will t he county assist in this matter?

Foreclosure is not a provision of

the tax sale statutes.

Will I receive a document to verify the purchase? Will it be a deed or a certificate of lien?

Yes

you

will receive a document to verify the p

urchase and it will be a tax lien certificate

Will you allow purchases by mail?

No.

When will the list of unsold/unbid

on property be available?

For counties that we assist, it will be

available approximately thirty (30) minutes following the sale.

Is a current list of a vailable property or liens available?

Properties are certified for sales on July 1st.

Updates to remove properties will be indicated on each page.

Is a copy of the county rules and state statutes regarding the tax sale available?

s, follow

this link

for more information on Indiana Statutes:

http://www.in.gov/legislative/ic/code/title6/ar1.1/ch24.html

Other Information:

The redemption period is twelv

e (12) months. A flat 10% interest penalty is applied to the minimum sale

price if the property is redeemed from the sale date through six months, 15% interest penalty is applied to

the minimum sale price if the property is redeemed from six months through

twelve months, and a 25%

interest penalty is applied to the minimum sale price if the property is redeemed greater than twelve

months and before a tax deed is issued. In addition, 10% interest per annum is applied on any overbid.

A tax lien purchaser ma

y pay subsequent taxes that become due on a property. Upon redemption, the tax

lien purchaser will receive the taxes paid back with 10% interest per annum applied.

Rogue Tax Sale Investor

340

Any costs that a tax lien purchaser incurs, and that are reimbursable according to the law

, that are filed

with the county auditor will be required to be paid upon redemption.

Indiana Code does not allow bulk lien sales on properties.

The holder of a tax sale certificate must acquire a tax deed to the real property within two (2) years afte

the date of sale. If the tax lien purchaser fails to do so, the lien against the property

is terminated (I. C. 6

1.1

7[a]

(

c) Statutes

http://www.in.gov/legislative/ic/co

de/title6/ar1.1/ch24.html

d) Tax Sale Glossary

http://sri

taxsale.com/glossary.pdf

e) Tax Sal e Dates and Information

http://sri

taxsale.c

om/TaxSaleDates.aspx

ROGUE INVESTOR NOTE

: The web page includes the following information by county: sale date,

director, director email, address, city, state, zip, sale location and property information.

f) Advertising Information

http://sri

taxsale.com/propertyinfo.html

You may obtain a list of the properties available for tax sale approximately

five (5) weeks

prior to the sale

date. These lists will be published in at least one local newsp

aper. For most counties the information

included in the newspaper advertisement is as follows:

Sale ID#

Property ID#

Minimum Sale Price

Owner Name (Optional)

Legal Description

Common Location / Property Address

ROGUE INVESTOR NOTE

: The following countie

s in Indiana are clients of SRI: Bartholomew, Blackford,

Brown, Carroll, Clark, Clinton, Dearborn, Delaware, Elkhart, Floyd, Fountain, Fulton, Grant, Greene,

Hamilton, Harrison, Hendricks, Howard, Huntington, Jackson, Johnson, Knox,

Kosciusko

, Lake, LaPort

Lawrence, Madison, Martin, Miami, Montgomery, Morgan, Orange, Owen, Parke, Porter, Posey, Pulaski,

Putnam, Randolph, Ripley, Scott, Shelby, Spencer, Starke, Switzerland, Tipton, Vermillion, Vigo,

Washington, and Whitely. See web page for a list of newsp

apers in which tax sale advertisements are

placed, by county.

g) Lien Buyer Hand out

http://sri

taxsale.com/handout.pdf

ROGUE INVESTOR NOTE: See six

page document for the following information: tax sal

e procedure, tax

lien purchaser information, if the owner redeems the property, and penalties for failure to comply with tax

sale statutes.

h) 137 B Form

: Statement of Costs Paid on Tax Sale Property

http

://sri

taxsale.com/137B.pdf

i) Online Tax Sale Registration

https://www.sri

taxsale.com/registration

Rogue Tax Sale Investor

341

Iowa

Tax Lien Sales:

Yes

Over

the

Counter Tax Lien Sales:

Yes. The lists

are called Adjourned or Public Bidder Sales

Lists. These are liens that are left over from the annual June tax lien sale. There is usually a real

estate lis

tandamobilehomelist.

Tax Deed Sales:

Rating:

Four

Stars (****)

Interest Rate:

24% per y

ear

Sale Period:

All county tax lien sales are held on the same day, during the third week in June.

Redemption Period:

21 months

Bidding Process:

By state law, b

idders

can

bid on the percentage of the property they will own.

Thus, when two bidders bid

on the same property, they can both end up owning a percentage of

the property.

In some counties this is becoming more common, so it is possible that you could

end up with properties where it would be difficult to foreclose.

The bidding process

is commonl

done

by random round robin.

If your bidder number is randomly selected, you have an

opportunity to bid or pass.

Some counties, such as Polk County, will charge a hefty fee to

the

counter liens.

State

Specific Information:

Iowa is

adecent

tax lien state because the interest rate of 24% per

year is very favorable, the redemption period of 21 months is short, and unsold certificates can

purchased by m

ail.

However, sales can be competitive and mo

re often some bidders are

now willing to bid on a percentage of property ownership.

The random round robin process is

good in that it keeps the interest rate fixed at 24 percent; however, because it is random you wi

have no idea what liens you

will have

an opportunity to bid on.

Story County, Iowa Tax Lien Sale

–

June 2004

Story County is where Iowa State University is located, and overall this appeared to be a good

county for tax sales. In general, the sale went well; however, there were about 150 bid

ders,

which is a little more than we like.

In Iowa, as each parcel comes up for bid, a computer is used to randomly select a bidder

number and the bidder can either say "sold" or "pass." This process is efficient and does not

bid down the interest rate. E

very winning bidder gets the 24% interest rate that makes Iowa a

great tax lien certificate state. Also, since all sales are on the same day, it is hard for large

investors to corner all the sales.

We also learned a little trick at the sale: if you want t

o win a lot of bids,

bring some friends.

After the sale is over you can transfer ownership of the certificates for a fee. If your goal is to

spend a lot of money, this is a good strategy. Overall,

it was a fair sale and we left as owners of

several

tax lien certificates with a 24 percent

interest rate.

Iowa County Links

See

Iowa

Tax Sales at

http://www.tax

lien

certificates.com

Detailed Cou

nty

Specific Information:

Rogue Tax Sale Investor

342

POLK COUNTY, IOWA

http://www.polkcountyiowa.gov

TREASURER’S OFFICE

http://www.polkcountyiowa.gov/treasurer/Defa

ult.aspx

Mary Maloney, Treasurer

Polk County Administration Building

111 Court Avenue, Room #140

Des Moines, IA

50309

2298

Phone: (515) 286

3030

Fax: (515) 286

2225

(1) Property Tax Division

http://www.polkcountyiowa.gov/treasurer/Default.aspx

onduct

the annual tax sale for the collection of delinquent taxes.

(1a)

General Information

http://www.polkc

ountyiowa.gov/treasurer/pages/propertytax.aspx

Property Tax Division

County Administration Building

Room 154

111 Court Avenue

Des Moines IA, 50309

Phone: 515

286

3060

Fax: 515

323

5202

Property Tax Email:

propertytax@co.polk.ia.us

(2) Tax C alendar

http://www.polkcountyiowa.gov/treasurer/pdfs/TaxCalendar.pdf

October 15: Tax sale buyers may pay subsequent delinquent tax

es on properties with outstanding taxes.

April 15:

Tax sale buyers may pay subsequent delinquent taxes on properties with outstanding taxes.

June:

The Treasurer’s Office Annual Tax Sale is held at the Polk County Convention Complex beginning

on the third

Monday in June (the treasurer may designate a different date for the sale other than the third

Monday in June if necessary).

(3) Tax Sale Buyer Information

http://www.polkcountyio

wa.gov/treasurer/pages/TaxSale.aspx

County Administration Building

Room 154

111 Court Avenue

Des Moines IA, 50309

Phone: 515

286

3060

Fax: 515

323

5202

Tax Sale Buyer Request for Available Redemption Funds:

http://www2.co.polk.ia.us/breq.php

Affidavit for Lost or Destroyed Tax Sale Certificate:

http://www.polkcountyiowa.gov/treasurer/PDFs/DupCertAffidavit.pdf

x Sale Buyer Address Change Request Document:

http://www.polkcountyiowa.gov/treasurer/PDFs/TaxSaleBuyerAddressChangeRequest_.pdf

The Polk County Treasurer

is responsible for the administration of the Annual Tax Sale and must offer for

sale, in an open competitive bidding process (Iowa Code Chapter 446,

ttp://coolice.legis.state.ia.us/Cool

ICE/default.asp?category=billinfo&service=IowaCode

), parcels in

Rogue Tax Sale Investor

343

which taxes have become delinquent. The purpose of the tax sale is to collect unpaid taxes. The Annual

Tax Sale takes place in June of each year at the Po

lk County Convention Complex

(

http://www.iowaeventscenter.com/cc.aspx

Below is the 2007 Tax Sale information in a .pdf file, as well as the previous years

’

tax sale information,

provided for refe

rence purposes only

2007 Tax Sale Information

http://www.polkcountyiowa.gov/treasurer/PDFs/taxSale2007.pdf

2006 Tax Sale Information

http://www.polkcountyiowa.gov/treasurer/PDFs/taxSale2006.pdf

2005 Tax Sale Information

http://www.polkcountyiowa.gov/treasurer/PDFs/TaxSa

le2005.pdf

2004 Tax Sale Information

http://www.polkcountyiowa.gov/treasurer/PDFs/TaxSale2004.pdf

Delinquent taxes on a parcel subject to sale will be advertised in June in

a Polk County newspaper of

general circulation. Properties are listed in parcel number order and have a sequence number for bidding

purposes. Copies of the newspaper are available for purchase at the Polk County Treasurer's Office.

In addition, computer

reports of delinquent items are available in three formats:

Paper report

: Paper reports can be picked up in room 155 or mailed through the U.S. Postal

Service or UPS regular delivery.

Electro

nic Report Via Treasurer’s Webs

ite (view only)

–

Free

Custome

rs may view the computer

report from the Treasurer’s Office Web Site beginning the first week of May at no cost by

selecting one of the links below.

Real Estate Public Bidder Sale

http://www2.co.po

lk.ia.us/TSPublic.html

Real Estate Regular Sale

http://www2.co.polk.ia.us/TSRegular.html

Mobile Home Public Bidder Sale

http://www2.co.pol

k.ia.us/MHPublic.html

Mobile Home Regular Sale

http://www2.co.polk.ia.us/MHRegular.html

Electronic Downl

oad Report Via Treasurer’s Webs

ite

–

Password Access

: Customers may

download the computer

report from the Treasurer’s website in a format compatible with most

spreadsheet and database programs for a fee. The fee includes unlimited download capability.

The Treasurer’s Office will assign a user name and password to you upon receipt of your

payme

nt. The user name and password number is valid only for the tax sale(s) listed in the table

below.

To place an order in one or more of the previously mentioned formats, complete the “Delinquent Tax List

Order Form” (

http://www.polkcountyiowa.gov/treasurer/PDFs/TaxListOrderForm2005.pdf

) and return it

with your check for the appropriate fee to the Polk County Treasurer’s Office. You will receive a user ID,

password and th

e Internet website address from the Treasurer’s Office once you have paid for the report.

Submit the request and payment for paper reports or electronic downloadable files to:

Polk County Treasurer

Attn: Tax Administrative Supervisor

111 Court Avenue

Des

Moines, IA 50309

2298

Fax: (515) 323

5202

Email:

propertytax@co.polk.ia.us

Copying, distributing, or selling the tax sale computer report is prohibited. The investor is responsible for

all research on par

cels available for auction. The following sites are available that may help an investor

research parcels for the tax sale:

Assessor Link:

http://www.assess.co.polk.ia.us

Auditor GIMS Link

http://www.gis.co.polk.ia.us

Recorder’s Office Index Search Link:

http://landrecords.polkcountyiowa.gov/resolution

Rogue Tax Sale Investor

344

Please contact the Cash Management Divisio

n of the Polk County Treasurer's Office at (515) 286

3035

for information concerning tax sale redemption funds.

ROGUE INVESTOR NOTE

: See web page for a table that provides report format, method of delivery,

effective tax sale dates, and cost.

(

) Treasu

rer’s Tax Sale Package for 200

http://www.polkcountyiowa.gov/treasurer/PDFs/taxSale2007.pdf

ROGUE INVESTOR NOTE

The 34

page tax sale package contains the following information

memo from

the Treasurer to prospective tax sale bidders; property tax portfolio service;

electronic devices prohibited

and food/beverage restrictions;

registering for the tax sale, bidding at the tax sale, purchasing tax sale

certificates,

bidder activit

y report,

notification to titleholder of tax sale, reimbursement of a tax sale

redemption, payment of subsequent taxes (sub

list), assignment of a tax sale certificate, “90 Day Notice

of Right of Redemption” affidavit,

statement of costs,

tax sale deed, er

roneous tax sale or assignment,

abandoned

property or vacant lots

, tax sale publication, tax sale delinquent parcel reports, adjourned tax

sales, change of address or telephone number, Americans with Disabilities Act,

non

resident aliens and

foreign busine

sses,

general information,

calendar, W

9 form (Request for Taxpayer Identification Number

and Certification), registration

of tax sale bidder or assignee

form,

registration of authorized

agent form,

authorization to change agent form, direct deposit author

ization form, delinquent tax list order form, real

estate delinque

nt tax list

–

regular sale, 2006

Polk County bidder activity report,

tax sale buyer address

change request form,

and registration check list.

STORY COUNTY, IOWA

http://www.storycounty.com

TREASURER’S OFFICE

http://www.storycounty.com/index.aspx?DN=24,6,1,Documents

David Jamison, Treasurer

900 6

Street,

Nevada, Iowa

50201

Phone:

515

382

7331

Email:

DJamison@storycounty.com

(1)

Meet Our Staff

http://www.storycounty.com/index.aspx?DN=468,24,6,

1,Documents

David Jamison, Treasurer

Phone: (515) 382

7330

Email:

treasurer@storycounty.com

Jane Evans, Finance Deputy

Phone: 515

382

7330

ail:

jevans@s

torycounty.com

Jane Evans’ knowledge of the tax sale process is extensive.

(2)

Tax Sale Packet

http://www.storycounty.com/index.aspx?DN=464,24,6,1,Documents

To:

2006

Prosp

ective Tax Sale Bidders

From: David d. Jamison, Story County Treasurer

Subject: 2006 Annual Tax Sale

Date: May 2006

Rogue Tax Sale Investor

345

The enclosed packet contains relevant information regarding the 200

tax sale and tax sale procedures. If

you plan on bidding at the 2005

tax sale, please read the information in the “Terms and Conditions

Governing the Annual Tax Sale” (revised May 200

The tax sale will start promptly at 10:00 a.m. on Monday, June

, 200

at Gates Hall,

825 15th Street

Nevada, IA 50201.

Pre

registrat

ion is required with a non

refundable $25.00 registration fee.

Please note this major change

in registration: if

you fill out the form

“Authorization to Represent Bidder,”

no changes will be allowed once

the form is turned in.

No exceptions

All

necessar

y forms, which include the

“Registration of Bidder,”

“

,”

and “Authorization to Represent

Bidder,”

if applicable, and the registration fee, payable to the Story County Treasurer, must be properly

completed and received in our office by 5:00 p.m.

on Tuesd

ay, June 14, 2006

Please use our forms that

are provided.

On the day of tax sale, please provide pens/pencils for your use or for your group as our supplies are

limited.

A delinquent tax list will be available from our office on Wednesday, May 25th. If

you would

like a paper

report or a copy e

mailed, please fill out the order form that is provided and return

to our office with your

payment of $25.00. Or you may purchase a copy of the publication by calling the Ames Tribune at (515)

232

2160. The publ

ication date

will be Thursday, June 02, 2006

The real estate information is now available on the Internet and is updated continuously. Log on to one of

the websites at:

www.storyassessor.org

www.storycounty.com

www.iowatreasurers.org

If you are on our mailing list for the tax sale packets and you would like for our office to take your name

off or if you have any questions or concerns,

please contact our office at (515) 382

7330.

(2a) Tax Sale Packet

http://www.storycounty.com/adx/aspx/adxGetMedia.aspx?DocI

D=464,24,6,1,Documents&MediaID=1456

&Filename=TaxSale06.pdf

ROGUE INVESTOR NOTE

This 19

page document contains the

terms and conditions governing the

nnual tax sale (revised May 2006

Rogue Tax Sale Investor

346

Kansas

Tax Lien Sales:

xDeedSales:

Yes

Over

the

Counter Tax Deed Sales:

Possibly. In some counties, offers to purchase properties

that did not sell at public auction will be considered and may be accepted upon published notice

and court approval.

Rating:

Two

Stars (**)

Int

erest Rate:

Not applicable to

Kansas’

tax deed sales

Sale Period

uctions

occur throughout the year, but they are not regularly scheduled. In fact,

one of the most difficult aspects of tax deed investing in Kansas

is keeping up with sale

dates.

Redemp

tion Period:

There is no

extended

right of redemption

following the

tax deed sale.

Legal Challenge Period:

1year

Bidding Process:

The

Treasurer’s Office or the Sheriff’s Office conducts the auctions, with

opening bid

start

ing

at the amount of taxes

owed on the property.

The minimum bid is

usually

equal to back taxes plus interest, fees and costs of the sale.

However, in some counties the

minimum bid can be less than that

The h

ighest bidder wins the property.

You may have a

buyer’s agent buy properti

es for you.

State

Specific Information:

The winning bidder will be issued a Sheriff’s deed after the court

confirms the auction (approximately three weeks following the sale).

Kansas County Links

See Kansas Tax Sales at

http://www.tax

lien

certificates.com

Detailed County

Specific Information:

JOHNSON COUNTY, KANSAS

http://www.jocogov.org

TREASURER’S OFFICE

tp://treasurer.jocogov.org

Dennis Wilson, Treasurer

111 S. Cherry Street, Suite 1500

Olathe, KS 66061

Phone:

(913) 715

2600

Fax

(913) 791

5360

(1) Contact Information

http://treasurer.jocogov.org

/contact.htm

Phone: (913) 715

2600

Fax: (913) 791

5360

Real estate tax specific questions, email:

%20taxinfo@jocogov.org

Rogue Tax Sale Investor

347

(2) Frequently Asked Questions

http://treasurer.jocogov.org/faq.htm

When would my real estate property be up for tax sale?

Real estate property taxes three years

delinquent are subject to a tax foreclosure (

http://legal.jocogov.

org/tax_sale.htm

) action and public sale.

(3) Delinquent Taxes

http://treasurer.jocogov.org/delinquent_taxes.htm

Publicati on of Delinquent Real Estate Taxes:

Delinquent real estate taxe

s not paid within three years

are referred to the Legal Department for foreclosure action, thus putting the property in jeopardy of being

sold at auction.

Details of Tax Foreclosure Sales may be obtained by requesting a brochure entitled "Johnson County,

Kansas, Tax Foreclosure Sale" from the Johnson County Legal Department

(

http://legal.jocogov.org

)

, or

go to Tax Foreclosure Sale:

http://legal.jocogov.org/tax_s

ale.htm

Real Estate taxes that are unpaid August 1st of the current year are published in the official county

newspaper (as designated by the Board of County Commissioners) for three consecutive weeks in

August in accordance with the provisions of K.S.

A. 79

2301 to 79

2323a.

LEGAL DEPARTMENT

http://legal.jocogov.org

Johnson County Legal Department

111 S. Cherry Street, Suite 3200

Olathe, KS 66061

3486

Phone: (913) 715

1900

Fax: (913) 715

1873

(1) Staff

Dire

ctory

http://legal.jocogov.org/staff.htm

Mary Martin Buhl, Assistant County Counselor: tax sales

(2) Tax F oreclosure Sale

http://legal.jocogov.org/t

ax_sale.htm

Disclaimer:

This outline is provided by the Johnson County Legal Department for general informational

purposes. It is not intended as legal advice or as a complete statement of the law regarding tax

foreclosures. The procedures described in t

his outline are subject to change at any time, dependent upon

changes in state law and County policies. It is your responsibility to determine and verify all information

that you may need, or upon which you may rely, with respect to any property.

Auction

Procedures:

County tax auctions are held to collect unpaid real estate taxes. This outline will

help you understand the process and the research you will need to do if you are interested in purchasing

property at the tax auction.

There may be more than o

ne tax foreclosure in progress at any given time and each one may be at a

different stage of the process. Auctions will be set as needed throughout the year.

Several properties may be offered for individual auction at an auction.

The County does not sel

l tax lien certificates.

You are responsible for researching the properties that interest you to determine whether they are

suitable for your use. Some examples of research you may want to do are: determine the location and

type of property; check with t

he city and/or County for zoning and building limitations; check with the

County appraiser for assessed value and current tax rates; check with the Department of Records & Tax

Rogue Tax Sale Investor

348

Administration for easements and restrictive covenants; and view the property. A

dditional research may

be appropriate. Seek individual legal advice.

A list of the properties, as well as the date, time and location of the auction and registration requirements

will be published prior to the auction in the Kansas City Star and the Ola

the Daily News once a week for

three weeks. You may also view a

list of properties at this web

site; the list follows this message.

Also, for a nominal fee, listed below, you may obtain a list of the properties at the Johnson County Legal

Department. Prop

erties are listed by parcel identification number and by legal description; approximate

addresses are listed where available but are not warranted. You may view maps of the properties at this

website; the maps follow the list of properties.

Booklets cont

aining lists and maps of the properties are also available at the Johnson County Legal

Department for $8.00 each. Booklets may be purchased in person or by mail. To order the booklet by

mail, send your name, address, and money order or cashier's check in t

he total amount of $10.00 (which

includes postage) to Johnson County Legal Department, 111 S. Cherry Street, Suite 3200, Olathe, KS

66061

3486.

The amount of tax listed for each property in the auction notice is the amount of delinquent taxes owed,

plus

interest, not the assessed value.

Ownership of the property remains with the current owner(s) until the auction. Therefore, you may not

enter the property without the permission of the owner(s).

The current owner(s) may redeem the property at any time

prior to the time of auction.

The Auction:

Properties are sold at public auction to the highest qualified bidder, as defined by state

statute. The County may bid on properties up to the amount of taxes and interest it is owed.

Generally, state law proh

ibits the following people from buying at the auction:

those who owe delinquent taxes in Johnson County

those who have an interest in the property, such as the owners, relatives, or officers of a

corporati

on which owns the property

those who buy the prope

rty with the intent to transfer it to someone who is prohibited from buying

at the auction.

Some properties may sell for less than the taxes owed; some may sell for more.

Registration prior to the auction is required. Registration will be held the morn

ing of the auction, as

advertised.

All bidders and buyers must execute an affidavit, under oath, that they meet the statutory qualifications for

bidding on tax auction property.

Properties will be sold by legal description and by County parcel identifi

cation number.

Properties are sold

“as is.” There are no warranties.

All the properties must be paid for by the stated time on the day of the auction. Only cash, a cashier's

check, or a money order will be accepted. Personal checks are not accepted.

You

may leave the building to obtain the cash, money order, or certified check for payment, but you must

return to pay for the property by 4:00 p.m. that day. Payments will be accepted until noon at the auction

site. Payments will be accepted from noon to 4:0

0 p.m. at the Johnson County Sheriff's Civil Division, 125

North Cherry Street, Room 122, Olathe, Kansas.

The buyer must pay the fee for filing the deed with the Department of Records & Tax Administration at the

time of the auction.

Rogue Tax Sale Investor

349

The buyer will rece

ive a receipt for payment on the day of the auction.

Aft er the Auction:

The court will hold a hearing approximately three weeks after the auction to determine

whether to confirm the auctions.

Some properties sold at the auction are subject to federal l

ien. A deed will be issued for those properties

after the expiration of the applicable federal redemption period, if the federal agency chooses not to

redeem the property.

For properties not subject to a federal lien, the Sheriff will issue a Sheriff's D

eed after the court confirms

the auction.

All other liens which were of record will be extinguished upon confirmation of the auction; however,

covenants, and restrictions and easements of record are not extinguished, and the buyer takes the

property subj

ect to those encumbrances.

The buyer is responsible for any taxes and assessments, which are not included in the judgment,

including the full amount of taxes assessed against the property for the calendar year in which the auction

is held.

The buyer is

responsible for taking any necessary legal action to obtain possession of the property, such

as by filing an eviction proceeding.

For twelve months after the deed is recorded, a legal challenge may still be made to question the

procedures that the Count

y followed. If such a challenge is successful, the property could revert to the

original owner, in which case the court would order the purchase price refunded to the buyer.

Upcoming Auctio ns:

The following tax auction, identified by District Court of Jo

hnson County case name

and number, is currently pending:

Currently, there is no sale scheduled.

Date of Sale

: No date is set at this time.

Property List: Currently, there is no list available (a

uction list is subject to change)

Frequent Questions

at is the date, time, and location of your tax auctions?

Auctions are scheduled when all other tax

auction procedures required by law and County policy have been completed. Auction dates, times, and

location will be posted on this site as they are set.

en and how are your tax auctions advertised? How can I obtain a list of properties for

upcoming auctions?

A list of the properties, as well as the date, time and location of the auction and

registration requirements

will be published prior to the auction

in the Olathe Daily News

, once a week for

three weeks.

Additionally, the list will be advertised in the Kansas City Star and the Johnson County Sun

newspapers. A list of the properties and maps for the properties are available for viewing on this web site.

Also, you may obtain a booklet of the properties and maps at the Johnson County Legal Department for

$6.00. The booklet may be obtained in person or by mail. To order the booklet by mail, send your name

and address to Johnson County Legal Department, 111

S. Cherry Street, Suite 3200, Olathe, KS 66061

3486. Payment is only by check or money order, made payable to Johnson County, Kansas

What payment requirements do you have at the auction?

Only cash, a cashier's check, or a money

order will be accepted. Per

sonal checks will not be accepted.

Is payment in full required on the day of the auction?

Yes. All properties must be paid for by the

stated time on the day of the auction.

Does Johnson County offer a financing program?

No.

Rogue Tax Sale Investor

350

What type of owner ship doc

ument is issued at the auction?

The buyer will receive a receipt for

payment on the day of the auction. The court will hold a hearing approximately three weeks after the

auction to determine whether to confirm the auctions. For properties not subject to a

federal lien, the

Sheriff will issue a Sheriff's Deed after the court confirms the auction. Some properties sold at the

auctions are subject to a federal lien. A Sheriff's Deed will be issued for those properties upon the

expiration of the applic

able feder

al redemption period,

if the federal agency chooses not to redeem the

property. If the federal agency redeems the property, no deed will be issued and the person with the

winning bid at the auction will receive a refund.

Once a property is acquired throu

gh a tax auction, is there a redemption period before the

purchaser may t ake possession?

No, with

this

exception: Some properties are subject to federal lien.

The federal agency may redeem the property during the applicable federal redemption period. A dee

dwill

not be issued by the Sheriff until expiration of the federal redemption period and only if the federal agency

does not redeem the property. All properties are subject to the Service

Members Civil Relief Act

Does Johnson County allow investors to p

urchase at tax auctions without attending the tax

auction?

Yes, but the investor's agent must register prior to the auction and must attend and bid at the

auction. Further, if the investor is the successful bidder, the investor must execute the required af

fidavit

the allotted time

–

generally

within 48 hours after the auction. All bidders must register prior to the

auction. Registration will be held the morning of the auction. The successful bidders and buyers must

execute an affidavit, under oath, that

they meet the statutory qualifications for bidding on tax auction

property. Generally, Kansas law prohibits the following people from buying at the auction: (1) those who

owe del

inquent taxes in Johnson County,

(2) those who h

ave an interest in the propert

for example,

owners, relatives, or officers of a cor

poration that owns the property,

and (3) those who buy the property

with the intent to transfer it to someone who is prohibited from buying.

What happens to pr operties that do not sell at the auction

? May they be purchased directly f rom

Johnson County?

In the event all the properties are not sold at an auction, Johnson County will consider

all available options and procedures allowed by state law for addressing the unsold properties, including

offerin

g those properties again

at the next auction. Offers to purchase properties that did not sell at public

auction will be considered and may be accepted upon published notice and court approval.

Do you have a mailing list?

No.

Does Johnson County sell tax

liens?

No. Kansas law does not provide for the auction of tax liens.

Will there be a minim um bid?

The County may choose to bid in at an amount up to the amount of its

lien, thereby setting a minimum bid. However, the County is not required to do so.

ill the properti es sell for the amount of taxes owed?

They may sell for more; they may sell for less.

What types of properties are in the auctions?

All types. Some have buildings or houses; some are

vacant; some are very small strips of land. It is the b

uyer’s responsibility to research the property to

determine whether it is suitable for the buyer.

Rogue Tax Sale Investor

351

SEDGWICK COUNTY, K ANSAS

http://www.sedgwickcounty.org

TREASURER’S OFFICE

http://www.sedgwickcounty.org/treasurer/index.cfm

Ron Estes

, Treasurer

525 N. Main

Wichita, KS 67203

Phone: (316) 660

9110

Fax: (316) 383

7113

now

receive an electronic Tax Foreclosure Auction not

ification from the County Treasurer.

Enter your email address.

Phone, Real Estate Tax:

(316) 660

9110

(1) Online Feedback Form

http://www.sedgwickcounty.org/treasurer/feedback1.html

Ron Estes

, Treasurer

restes@sedgwick.gov

mail Linda

Kizzire, Chief Deputy Treasurer

lkizzire@sedgwick.gov

(

) General Foreclosure Information

http://www.sedgwickcounty.org/treasurer/general_information.pdf

When a property remains unpaid for a certain length of time, it is selected for foreclosure (sale of property

by County

to pay back taxes) and is noted on the AB02 screen in the County’s mainframe computer

system. There is no set date for any property to enter foreclosure.

When a key number is in foreclosure status 0, it means the property has started the foreclosure proce

and at this stage we can accept payment of the oldest year in full to take the property out of foreclosure.

In foreclosure status 1, abstractor’s fees have been added and we can still accept payment of the oldest

year in full to take the property out of

foreclosure. In foreclosure status 2, attorney

’s

fees have been

added

and we can accept payment of the oldest year in full to take the property out of foreclosure. In

foreclosure

status 3, court costs are added, the foreclosure case is filed

, and within s

everal months

the

foreclosure sale date is set. In status 3 foreclosure, the Treasurer’s Office can only accept certified funds

(cash, cashier’s check, or money order) for all years due up to 5 p.m. the day before the sale from the

taxpayer, lienholder or

other vested interest party.

The foreclosure sales are published 30 days before the sale date in the official paper (when a sale date is

set, it is in the Derby Daily Reporter, which is availab

le in limited supply on a first

come, first

served basis

in th

is office) and on the Treasurer’s website (

http://www.sedgwickcounty.org/treasurer

). Foreclo

sure

sales are properties sold o

n an “as is” basis and buyers should research the properties very thoroughl

before buying (some basic information on this is available in the Treasurer’s Office and is published on

the Treasurer’s website when a sale is scheduled). There are usually four to six sales per year, and they

usually occur between May and October, but

there is no established or scheduled time until the

Foreclosure Attorney sets a sale date.

) Delinquent Tax Listing

http://www.sedgwickcounty.org/treasurer/DelinquentTax/in

dex.html

Welcome to the Sedgwick County Treasurer's Office delinquent tax listing application.

The purpose of this

application is to allow you to view a list of all delinquent properties in Sedgwick County.

Rogue Tax Sale Investor

352

SHERIFF’S OFFICE

http://www.sedgwickcounty.org/sheriff

) Sheriff Sales

http://www.sedgwickcounty.org/sheriff/sales.asp

The Sedgwick County Sheriff’s Office conducts sales

of real estate and other items under court order.

Mortgage Foreclosure Sales are conducted each Wednesday at 10:00

a.m.

in the Courth

ouse basement

conference room.

Tax Foreclosure Sales are advertised 30 days in advance of the date of the sale;

Personal P

roperty Sales are advertised three weeks in a

dvance of the date of the sale.

Both are

published in the Derby Daily Reporter or o

ther official paper of record.

For information view our Frequently

Asked Questions below or contact:

Real Estate Tax Foreclosur

e Sales

Rachel Hummel

Phone: 316

383

7264

Fax:

316

660

3248

Delena Farmer

Phone: 316

383

7264

Fax:

316

660

3248

Frequently Asked Questions

When and where are Sheriff’s sales held?

Mortgage Foreclosure Sales are held each Wednesday

(except holidays) at

10:00 am sharp in the Sedgwick County Courthouse Basement Cafeteria Conference

room.

ax Foreclosure, Personal Property and Surplus Property sales are conducted as the need arises

with the location, date and time published in one of the county papers of re

cord.

How can I learn about what properties or items are for sal e?

Sheriff Sales are subject to change on a

day to day basis and we are not able to respond to individual inquiries regarding list of

properties or items

for sale.

Persons interested in biddi

ng on items being sold should subscribe to the Sedgwick County

papers of record, “The Derby Daily Reporter” and the “The Sedgwick County Post”.

What information is published on items up for sale?

The case caption (who vs. whom), district court

case number

, name of the attorney for the plaintiff issuing the order of sale and the legal description of

the property.

Where can I go to obtain information not listed in the publ ication?

If the street address is not listed

on the published order, the Sheriff’s Of

fice will not have it. Instead

interested parties should contact the

County Clerk’s off

ice to obtain such information.

Information on the amount of judgment, court costs,

taxes owed, etc. are available and can be viewed in the open court file which is ava

ilable through the

Clerk of the District Court, Civil Division

which is located on the eleventh floor of the Sedgwick County

Courthouse, 525 N. Main

Wichita.

What information do I need to have in order make inquiries on sales being held by the Sedgwick

County S heriff’s Office?

You must have either the defendant’s name or the district court case number in

order make inquiries on the status of sales. We are unable to help you if you only have the address.

What form of payment is required when bidding on S

heriff Sales?

The full bid amount for a sale item

must be paid in cash, certified check or mo

ney order at the time of sale.

The Sheriff’s Office will accept

personal checks only with the prior approval in writing of the attorney for the plaintif

f listed in

the order of

sale.

The Sheriff’s Office will not give “change” from any transaction

conducted at a sheriff’s sale.

Should

the amount of the check or cash be over the amount bid, the Sheriff will issue a receipt for the actual

amount received and any overa

ge will be paid from the Clerk’s office at a later date.

Aft er the sale what happens prior to the Sheriff’s Office issuing deed for the property?

After the

sale the following events occur prior to t

he issuance of a Sheriff’s Deed:

Rogue Tax Sale Investor

353

After the sale a Return

of Service on the Order of Sale is filed by the Sheriff’s Office with the

Clerk of the District Court.

The Clerk of the District Court will send a receipt to the winning bidder.

An order confirming the sale will be generated, usually by the plaintiff’s att

orney and signed by a

judge. The orders may contain a redemption period which is generally ninety days in length;

although longer and shorter periods of time

may be specified by the court.

Redemption rights can

also be extinguished altogether upon order of

the court.

Following the receipt of the order confirming the sale

the Sheriff’s Office will issue a Certificate of

Purchase which states the name, the length of the redemption period, if any

and the amount bid

by the winning bidder. These documents will

be sent to the plaintiff’s attorney unless the winning

bidder is a third party, in which case the Certificate of Purchase will be sent directly to them.

At the end of the redemption period the buyer will surrender the original copy of the Certificate of

urchase to the Sheriff’s Office.

Following the receipt of the original copy of the Certificate of Purchase by the Sheriff’s Office, a

Sheriff’s Deed will be issued to the winning bidder.

What happens if the property is redeemed during the redemption peri

od?

There will be no Sheriff’s

deed issued for the property and the Clerk of the District Court will refund the money paid on the date of

the sale.

Who should I contact if I have r outine questions regar di ng the processing of Sheriff’s Mortgage

Foreclosure

Sales?

The contact points for mortgage foreclosure sales are:

Donita Jarrell

Mortgage Foreclosure Clerk

Phone:

316

660

3875

Sgt. Conrad Jansson,

Civil Section Supervisor

Phone:

316

383

7375

WYANDOTTE C OU NTY/KANSAS CITY, KANSAS

http://www.wycokck.org

TREASURY

OFFICE

http://www.wycokck.org/dept.aspx?id=6758&menu_id=1034

Chuck Henry, Director

Revenue/Treasury

Wyandotte County Cour

thouse

710 N. 7th Street

Kansas City, KS 66101

Phone:

(913) 573

2823

REA L ESTATE PROPERTY TAX

(within Treasury Office)

http://www.wycokck.org/dept.aspx?id=6764&menu_id=1034

710 N. Se

venth Street,

Kansas City, Kansas

8200 State Avenue,

Kansas City, Kansas

Delinquent tax sale information:

http://www.wycokck.org/WorkArea/linkit.aspx?LinkIdentifier=

id&ItemID=7294

This displays the properties currently scheduled to be sold at the next tax sale. It also provides a

tentative calendar of tax sale dates and other information about tax sales in Wyandotte County.

Rogue Tax Sale Investor

354

DELINQUENT REAL ESTATE PROPERTY TAX OF

FICE

(within Real Estate Property Tax Division)

http://www.wycokck.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=7294

Waym

an Favors, Assistant Counselor

Phone:

(913) 573

2817

This office arranges and conducts all Judicial Foreclosure Sales for Wyandotte County and the Unified

Government of Wyandotte County/Kansas City, Kansas

This site offers a list of properties selected for

sale and an estimated sale date. S

elect from the Web Page List or PDF File under "List Available" will

display the list of properties to be included in the sale.

Note

I=I

mprovement

Vacant Lot

C/V =

Commercial Vacant Lot

C/I=

Commercial Improvement

Tax Sale # = 314

Status o

f Property Included =

http://www.wycokck.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=7296

Sale Date = December 28, 2006

Certainty of Sale Date =

Tax Sale #

= 315

Status of Property Included = April 27, 2007

Sale Date =

http://www.wycokck.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=7298

Certainty of Sale Date = De

finite

Tax Sale # = 316

Status of Property Included =

http://www.wycokck.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=9902

Sale Date = July 30, 2007

Certainty

of Sale Date =

Updated January 9, 2007

(1) Tax Sale 316

http://www.wycokck.org/WorkArea/showcontent.aspx?id=9902

Updated 7/18/2007

Note

: You must pre

icipate in the Tax Sale. The Sale is scheduled for July 30,

2007

, 10:

00 a.m.

at City Hall, 701 N.

7th St

reet.

Registration will take place in the Delinquent Real Estate

Office between the hours of 9:00 a.m. and 5:00 p.m., beginning July 16, 2007 thru July

20, 2007 and July

23, 2007 thru July 27, 2007. Prior to registration you must obtain a tax clearance from our office,

Delinquent Real Estate. The Tax Clearance must be in the name of the individual, group or company

bidding on the property.

Note: We sell

legal descriptions, not property addresses. Also, any purchases made through the tax sale

must be paid by certified check or money order and made payable to Clerk of the District Court. No

exceptions made.

Rogue Tax Sale Investor

355

PRIVATE SECTOR TAX SALE ADMINI STRATORS

SPAND

http://www.xspand.com

(1) Foreclosure and Real Est ate Auctions

http://www.xspand.com/investors/foreclosure_auctions/index.aspx

XSPAND, and many of the governments that it serves, offer investors the ability to bid at public auction

on real property that has been acquired through tax certificate foreclosures. The specifics of the auction

process and acquisition of real property th

rough auction varies by applicable local and state regulations.

For this reason, available properties are listed by jurisdiction.

Auctions may be conducted by XSPAND or by the local government. Depending on the type of auction

being conducted and legal re

quirements, it is possible that other liens or judgments against the property

would remain valid and become the responsibility of the new owner. In other cases, all other liens and/or

judgments against the property are extinguished. Investors must familiar

ize themselves with the laws

governing the acquisition of real property obtained through a tax lien foreclosure auction in the jurisdiction

of interest. It is important to note that XSPAND provides no investment, legal or financial advice to

potential inve

stors. As with any investment, investors should carefully consider their objectives, risks,

expenses and conduct their own due diligence prior to bidding at auction.

All listed properties are auctioned on an "as is" and "where is" basis with no representa

tions or warranties

either general or specific regarding the physical condition, location, use, zoning or occupancy of the

property. No entry to the property can be granted to prospective bidders. XSPAND does not provide

investors with financing for these

transactions nor do we advise investors on how to obtain financing. In

some jurisdictions, the winning bidder is required to pay in full on the day of the auction and with certified

funds. In other places, a non

refundable down payment or deposit is requir

ed immediately after auction

with a "closing" scheduled at a later date where the deed and balance of funds change hands. Further

detail on payment terms and the acquisition of the property can be found by clicking on the individual

jurisdiction of interes

For more information, follow the appropriate link or call the telephone number listed for each jurisdiction.

We strongly suggest that potential investors conduct due diligence and consult with an attorney to make

informed purchase decisions.

Should y

ou have an interest in attending or receiving more information on a particular auction, please

select the appropriate jurisdiction located on this page. From there you can view the list of parcels

scheduled for upcoming auction or you will be directed to w

ebsites hosted by our government clients

where additional information is available.

ROGUE INVESTOR NOTE

: See web page for a list of jurisdictions. They include: New York City, NY;

Erie County, NY; Cuyahoga County, OH; Montgomery County, PA (upset sales, j

udicial sales); Blair

County, PA; City of Chester, PA; and Wyandotte County/Kansas City, KS. Also, see frequently asked

questions specific to each jurisdiction (available once you have clicked on the jurisdiction).

(1a) Wyandotte County

Kansas City, KS J

udicial Foreclosure Sales

http://www.xspand.com/investors/foreclosure_auctions/detail.aspx?t=02&j=07&name=Wyandotte%20Cou

ty/Kansas%20City%20KS

Judicial foreclosure sales are conducted periodically each year by the Unified Government of Wyandotte

County and Kansas City, KS and all questions regarding the Judicial Foreclosure Sale should be directed

to the Delinquent Tax Of

fice at 913

573

2817. A listing of these aucti

on properties is available here:

http://www.wycokck.org/Dept.aspx?id=7294&menu_id=1034

Rogue Tax Sale Investor

356

(1b) Wyandotte County

Kansas City, KS Judicial

Foreclosure Sales FAQs

http://www.xspand.com/investors/foreclosure_auctions/detail.aspx?t=02&j=07&name=Wyandotte%20Cou

nty/

Kansas%20City%20KS

Under what process were the current properties for auction obtained

Real property available at

public auction has been subjected to a Judicial Foreclosure action as a result of d

elinquent real property

taxes.

When are property aucti

ons held?

Judicial Foreclosure aucti

ons are held every 3

4 months.

Where can I find a list of prop erties for t hese auctions?

Notice of the upcoming sales, including a list

of properties available, can be found at:

http://www.wycokck.org/Dept.aspx?id=7294&menu_id=1034

What will I need to do prior to the auction?

The Delinquent Tax Department of the Unified Government

determines which properties to make available for sale. All bidders m

ust register with the Delinquent Tax

Department prior to the sale. Prior to the auction, you may not enter the property to view the inside

though you may perform due diligence from the street. You may want to perform a title search as the

Delinquent Tax De

partment cannot assist in the ac

quisition of this information.

If I am the high

est bidder, what happens next?

Properties are sold to the highest bidder. All payments

are required, in full, paid by certified funds on the day of the sale. All liens on the p

roperty, with the

exception of Federal Tax Liens, are removed as a part of the Judicial Foreclosure. The Delinquent Tax

Office can assist you with a process that has been set

up by the Federal government to potentially

remove Federal tax liens and any ques

tions regarding this process should be directed toward the

Delinquent Tax Office. We strongly recommend that investors conduct their own due diligence and

consult with an attorney p

rior to purchasing properties.

Who can I speak with if I have questi

ons ab

out an upcoming auction?

The auctions are conducted

by the Unified Government of Wyandotte County and Kansas City, KS and all questions regarding the

Judicial Foreclosure Sale should be directed to the Delinquent Tax Office at 913

573

2817.

Rogue Tax Sale Investor

357

Kentucky

Tax Lien Sales:

Yes

Over

the

Counter Tax Lien Sales:

Yes

Kentucky law allows any individual or company to

purchase taxpayers’ delinquent tax bills that have not been previously purchased by the state or

sold and reco

rded in the County Clerk’s Office

after the Sheriff’s sale.

Tax Deed Sales:

Rating:

Three Stars (***)

Interest Rate:

12% per year

Sale Period

Varies, depending on the county.

Redemption Period:

year

Bidding Process:

All

auctions are by co

mpetitive bid, with the winning bidder accepting the

lowest interest rate.

State

Specific Information:

The

Sheriff’s Office conducts the annual tax lien sale.

Liens that

remain unsold may be purchased over the counter through the County Clerk’s Office. T

buyer

receives a “Certificate of Delinquency” from the County Clerk’s Office

,and

has 50 days to give

notice to the property owner that he/she has bought the tax bill. The buyer may institute a

foreclosure action in court against the prop

erty owner for

the unpaid debt one

year after the

creation of the certificate of delinquency. Some buyers may be in no hurry to collect the debt,

given the high interest rate charged, and may simply hold the certificate as long as the property

owner’s equity in the prope

rty exceeds the tax debt. The statute of limitations for the certificate

of delinquency is 10 years.

Kentucky

County Links:

See

Kentucky

Tax Sales

http://www.tax

lien

certificates.com

Detailed

County

Specific Information:

HARDIN COUNTY

,KENTUCKY

http://www.hcky.org

SHERIFF’S OFFICE

http://www.hcky.org/hcso

100 Public Square, Suite 101

Elizabethtown, KY 42701

Pho

ne: 270

765

5133

Fax: 270

737

4574

(1) Tax Information

http://www.hcky.org/hcso/Processes/Tax%20Information.pdf

When does the Sheriff hold the tax sale? The tax sale is held the l

ast working day in April.

Rogue Tax Sale Investor

358

JEFFERSON COUNTY, KE

NTUCKY

(no county website)

SHERIFF’S OFFICE

http://www.jcsoky.org

The Sheriff’s Office is the primary property tax collector in Jefferson County.

(1) Contact Informa

tion

http://www.jcsoky.org/contacts.htm

Colonel John Aubrey, Sheriff

531 Court Place, 6th Floor

Louisville, KY 40202

Phone: (502) 574

5400

Toll free: (800) 280

6694

COUNTY CLERK’S OFFIC

http://www.jeffersoncountyclerk.org

Bobbie Holsclaw, County Clerk

(1) Contact Information

http://www.jeffersoncountyclerk.org/contact

Delinquent Tax D

epartment

527 W. Jefferson Street, Room 100A

Louisville, KY 40202

Phone: (502) 574

6016

(2) Delinquent Real Estate Tax Frequently Asked Questions

http://www.jeffersoncountyc

lerk.org/records

documents/deltax.asp

What is considered a delinquent real estate tax?

A tax is considered "delinquent" when the due date

of a specific real estate tax assessment has passed and by statute any appeal rights have expired.

Jefferson County

real estate property tax notices are mailed out in late October or early November by the

County Sheriff's Office and are payable to the County Sheriff's Office beginning November 1. They

become delinquent on January 1, following their due date and are mai

ntained and collected in the County

Sheriff's Office until the May 1st Sheriff's sale. Following the sheriff's sale, delinquent taxes are

transferred and maintained at the Jefferson County Clerk's Office, accruing penalty and interest of 1% per

month until

paid.

Who can lawfully purchase my delinquent tax bill?

Kentucky law allows any individual or company to

purchase taxpayers’ delinquent tax bills that have not been previously purchased by the state or sold and

recorded in the Jefferson County Clerk’s Of

fice after the Sheriff’s sale. The purchase can neither be

anticipated nor prevented by the County Clerk.

What happens when someone buys my delinquent tax bill?

The tax bill is converted to a “Certificate

of Delinquency

” which the buyer will receive fr

om the County Clerk’s Office as a piece of paper or an

electronic record. The buyer has 50 days to give you notice he has bought your tax bill. Payment must be

sent directly to the buyer, along with the associated penalties and interest assessed by the buy

er. Once

you pay the buyer, he will surrender the certificate to you, so that it may be presented to the County Clerk

for lien release.

How long do I have to pay the buyer?

The buyer may institute a foreclosure action in court against you

for the unpaid

debt one year after the creation of the certificate of delinquency. However, some buyers

may be in no hurry to collect the debt, given the high interest rates charged, and may simply hold the

certificate as long as your equity in the property exceeds the

tax debt. The statute of limitations for the

certificate of delinquency is 10 years.

Rogue Tax Sale Investor

359

(

) Procedure for Sale of Current Year Delinq uent Taxes (Certificate of Delinquency) to Third

Parties

http://www.jeffersoncountyclerk.org/delinquent

tax

The following procedure is revised and effective

May 29, 2007

The Jefferson County Clerk’s Office (JCCO) receives the official list of current year delinquent taxes from

the Sheriff’s Office. The li

st is usually available by the third Monday in May of each year, and can be

accessed from our File Transfer Protocol (FTP) site

ftp://206.196.1.139

Internet Explorer Version 7

users: follow this link on how to

open

FTP sites in I.E.v7 (PDF):

http://www.jeffersoncountyclerk.org/voter

info/IE7ftpdownload.pdf

Once the list is available, you may review the current year delinque

nt taxes yo

wish to purchase.

When the delinquent tax bills become available for sale, JCCO will publish the sale

date on ou

rweb

site at

http://www.JeffersonCountyClerk.org

and in our local newspaper, The Courier

Journal. JCCO will accept your funds and submitted list of specific delinquent tax bills only on the

published sale date and thereafter.

Please be advised that the Kentucky Finance and Administration Cabinet (KFAC) has purchased certain

certificates of d

elinquency from the Jefferson County Sheriff, as r

equired by statute (KRS 134.450[1]

These certificates will not be included in the official list of current year (2006) delinquent taxes received

from the Sheriff's Office.

If you wish to purchase multip

le tax bills, you may go to the FTP site listed above and use the Bill Sale

Submission Template that is provided.

Select from the list below for further instructions:

Remittance of funds:

http://www.jeffersoncountyclerk.org/delinquent

tax/funds.asp

FTP instructions:

http://www.jeffersoncountyclerk.org/delinquent

tax/ftp_inst.asp

Open FTP sites usi

ng Internet Explorer v7(PDF)

http://www.jeffersoncountyclerk.org/voter

info/IE7ftpdownload.pdf

If you have any questions related to these procedures, please contact the m

anager of the Delinquent Tax

Department at (502) 574

5061.

KENTON COUNTY, KENTUCKY

http://www.kentoncounty.org

COUNTY SHERIFF

http://www.kentoncounty.org/county_officials/county_sheriff/index.html

Chuck Korzenborn

303 Court Street,

Suite 409

Covington

,KY

41011

Phone:

(859)

392

1800

Fax

(859)

431

8951

Email:

chuck.

korzenborn@kentoncounty.org

(1) Delinquent Property Tax

http://www.kentoncounty.org/county_officials/county_sheriff/delinquet_property_tax.html

The Sheriff's Tax Bill Sa

le was conducted on April 1,

2008

Due to the total amount of the offers, the bills

have been for

warded to the Finance Cabinet.

Any questions about how to redeem a bill sold to the State

should be directed to the Clerk's Off

ice at

859

392

1650

Rogue Tax Sale Investor

360

Louisiana

Tax Lien Sales:

Tax Deed Sales:

Yes.

Over

the

Counter Tax Deed Sales:

Rating:

Four Stars (****)

Interest Rate:

12%

per annum

plus a 5% penalty per year, for a total

of 17% interes

(see Right

of Redemp

tion below)

.However,sincethe5%isapenalty,ifthelienisredeemedinamonthor

less, your effective annual interest rate could be over 60%.

Sale Period

norbeforethefirstdayofMayoftheyearfollowingtheyearinwhichthetaxes

were ass

essed, or as soon thereafter as possible

Right of Redemption

The original owner has up to three years from the date the deed is filed

in the Clerk of Court's Office to redeem the property.

Bidding Process:

The minimum bid is delinquent taxes, interest,

penalties, and costs. The

winning bidder receives a deed to the

property, subject to the three

year right of redemption

there is no minimum bid, the tax collector shall bi

dinthepropertyforthestate.However,i

property located in a municipality

with a population of more than

450,000

persons as of the most

recent federal decennial census fails to sell for the minimum required bid

at t

he tax sale, the

collector may offer the property for sale at a subsequent sale with no minimum required bid.

he property is divisible and a portion of the property is sufficient to satisfy the amounts owed,

the collector must require bids to be for such lesser portion of the property.

State

Specific Information:

The Sheriff’s Office acts as the tax collector for

parishes.

Louisiana Parish

Links:

See

Louisiana

Tax Sales at

http://www.tax

lien

certificates.com

Detailed

Parish

Specific Information:

CADDO PARISH, LOUISIANA

http://www.caddo.org

SHERIFF’S OFFICE

http://www.caddosheriff.org

(1) Contact Information

http://www.caddosheriff.org/New_DeptPhoneList.htm

Sheriff Steve Prator

Caddo Parish Sheriff's Office

505 Travis Street

7th Floor

Shreveport, Louisiana 71101

Phone: (318) 681

0611

Fax:

(318) 681

0888

Email:

welcome@caddosheriff.org

Rogue Tax Sale Investor

361

Tax Department

hon

(318) 681

0638

Fax: (

318) 681

1179

(2)

Frequently Asked Questions

http://www.caddosheriff.org/New_FrequentlyAskedQuestions.htm

Who do I call to get tax information?

For tax

information contact the Tax Department at (318) 681

0638. The Tax Department is located in the Caddo Parish Courthouse on the first floor. T

he courthouse is

located at 501

Texas Street.

Where is the tax sale held?

The tax sale is held in the basement of

the Caddo Parish Courthouse in

room G

18. To get to room G

18 take the elevators or stairs to the ground floor and then take a right. Go

to the end of the hallway and turn right. The door at the end of the hall is room G

18. Click here to find out

more inf

ormation about the tax sale.

TAX DIVISION

(within the Sheriff’s Office)

http://www.caddosheriff.org/new_tax.htm

Caddo Parish Courthouse

501 Texas Street Room 101

Shreveport

, LA

71101

Phone

: (318)

681

0638

Fax: (318) 681

1179

Email:

tax@caddosheriff.org

) Frequently Asked Questions

http://www.caddosheriff.org/new_tax.htm

Who is responsible for

the collection of taxes?

In Caddo Parish, the Sheriff is not only concerned with

enforcing the law, but has the additional duty of Ex

officio Tax Collector and the responsibility of collecting

parish taxes. Any property which has an outstanding balance of

base tax, intere

st or other penalties or

costs

is subject to being sold at the annual Tax Sale.

What happens if I do not pay my taxe s?

Any delinquent account

–

that is, a

n account reflecting any

amount

of money due

–

may b

e sold at the annual Tax Sale. Y

our property will

be advertised in the

official

Parish Journal

and may be sold at the annual Tax Sale

which is usually in May. The

advertisement is usually published in April.

What is the Tax Sale?

The Tax Sale is held in Room G18 at the Caddo Parish Cou

rthouse, 501 Texas

Street, Shreveport

, Louisiana. On the first day of the tax s

ale, all the unsettled properties that appeared in

the newspaper advertising are read aloud. People in the room are considered tax buyers. These buyers

have pre

registered with

the Sheriff's Office. Tax buyer

registration begins before the tax s

ale. Anyone

can register up to the start of and during the sale.

After the reading of a property, buyers bid for a portion of ownership on the property. By law, the Sheriff

continues acce

pting bids until the lowest bid is received in the interest

of the actual property owner,

which

gives the buyer who bid that amount the right to purchase it.

What happens if a property is not sold at the Tax Sale?

Any unsold property is adjudicated to Cad

Parish. The Parish then becomes owner of the property.

What if my property is bought by a buyer and I want to get it back?

The original owner has up to

three years from the date the deed is filed in the Clerk of Court's Office to redeem the property.

redemption is calculated by the Tax Collector. The amount of redemption will include a redemption fee,

tax sale fee, interest due the tax buyer, the base taxes and monthly interest.

Rogue Tax Sale Investor

362

E AST BATON ROUGE PARISH, LOUISIANA

ttp://brgov.com

SHERIFF’S OFFICE

http://www.ebrso.org/ebrso.php/home

Sid J. Gautreaux, III,

Sheriff

300 North Boulevard

Baton Rouge, LA 70801

Phone: (225) 389

5000

TAX OFFICE

(within the Civil Offic

e of the Sheriff’s Office)

http://www.ebrso.org/ebrso.php/civil

Octave Anthaume, Tax Director

Phone: (225) 389

4810

Fax: (225) 389

8586

Email:

web_tax@ebrso

.org

Rogue Tax Sale Investor

363

Maine

Tax Lien Sales:

Tax Deed Sales:

Yes

Over

the

Counter Tax Deed Sales:

Yes

Rating:

Two Stars (**)

Interest Rate:

8percent,inararelyusedalternativemethodforconductingtaxs

ales that allows

for a two

year extended right of redemption

Sale Period

Varies

Redemption Period:

two

year

extended right of redemption

is allowed in a rarely used

alternative method for conducting tax sales.

Bidding Process:

Property is sold

the highest bidder,

as much

as is necessary to pay the

tax

due

If the bidding is for less than the whole, it shall be for a fractional part of the estate,

and the bidder who will pay the sum due for the least fractional part shall be the purchaser.

Sta

Specific Information:

The State of Maine

is comprised of

organized territory and

organized territory. In organized territory, municipalities collect their own taxes. Properties

that are foreclosed on are deeded to

the municipality, which

can then sell

the properties.

Maine

law allows alternative methods for foreclosure and property disposition.

Depending on the

municipality, the properties may be sold at a public auction, or sold by sealed bid; or a property

may be sold outright to an abutting property

owner, or sold back to the original property owner.

Title 36, Chapter 105: Cities and Towns, Article 2: Enforcement of Lien on Real Estate, section

941: Civil Action with Special Attachments; Procedures is the method used by almost all

municipalities in o

rganized territory. In these municipalities, the tax lien on a property

automatically forecloses in 18 months and the propert

yisdeededtothemunicipality,whichthen

may dispose of it by sale. One of the alternative methods, used rarely, allows for a tw

year

extended right of redemption following the tax sale, during which the investor can earn 8 percent

interest.

In unorganized territory, the Maine Revenue Services, Property Tax Division is responsible for

collecting taxes. Properties that are foreclo

sed on are deeded to the state, and the Unorganized

Territory section of the Property Tax Division conducts sales of these tax acquired properties by

sealed bid.

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