(From
http://www.earlsdonschool.com/clubs-and-activities/drama-club source)
OK, so this course of talking about tax sales and investing in them there are some highs and lies to investing. Whether for the land (tax deed states) or certificates for the interest returns (tax certificate sales 1-3 years with different rates of return).
Investing IRL Scenario #4:
Purchased a 3 bedroom 1 bath home on 2.24 acres in the country, waterline, electric, septic and spare well all in great shape. It had passed in the sale to come up on the after sale or OTC lists.
It was just under $1,000 and I jumped on it (after research and inspection). It had been unredeemed for over 2 whole months so my hopes were high when it was paid and my receipt in hand.
However, by law the State had 10 business days to notify the owner of the sale and offer a redemption. Upon my research I had found the owner had died 7 months prior.
The estimated market value of the home and property was $85,000. You can understand my excitement at this point.
Most of the time these sales go through, the offer was pending and I had 6 more days to go. However as you can guess the house was redeemed and we got the refund of the monies paid in the next 3-4 weeks.
There's highs and lows. But a lot of the time there are highs LoL .