Internet tax auctions are one of the newest features that are being offered from counties across the nation. More and more local governments are catching up to the rest of the world and building websites which include many services that can be executed over the Internet. The good news is investors no longer have to travel the country to attend tax deed auctions or tax lien auctions.
With Internet tax auctions, most of the necessary research can be done from home either over the Internet or over the phone. Many counties offer property records access over the Internet and even satellite imagery for each lot.
Like live auction, Internet tax auctions have strict rules that must be followed in order to be eligible to purchase a property deed or lien. Each county is different so it is important to check the the appropriate party for specifics, but generally registration is required before bidding and sometimes a week before. A deposit is often required for each property you intend to bid on. There may be additional fees such as a buyer’s fee, transfer tax, recording fee which can add up to a few hundred dollars more than your bid.
The list of counties that participate in Internet tax auctions is growing, but a few of the states where you will find counties that sell tax deed or tax liens over the Internet are:
- California
- Texas
- Ohio
- Florida
- Idaho
- and more
Each of the states have different rules and websites. The counties in Florida that offer Internet tax auctions, each have their own individual website. In Texas, there are websites that handle several counties at once.
Internet tax auctions make it possible to start investing from home and with less capital than before. There is more information about Internet tax auctions available to help you start your journey investing in real estate on a budget today. Visit BankREOTraining.com for more information.
