CA Tax Lien State?
Does anyone know if California is a Tax Lien or Tax Deed state?
From the info I've been trying to gather, if a state is a Tax Lien state, you can purchase a property from the state that has a lien on it. You either collect the money that is owed (plus interest) or you get the house. Correct?
How does is work for the Tax Deed state?
Also, how would I get a list of these properties.
I appreciate any input
-Paul
Dear Knowledge Junkie,
Just pick up the telephone and call the Assessors Office. Ask them for the Tax sale list. They will tell you where to go to get it and if there are any charges.
There will be an auction. You attend and bid. If you win give them the money and the deed will be mailed to you upon recordation.
To do this properly, when you get the list, select what you are interested in and go look. I mean kick dirt.
Then research with the title company all of your selections. Then arrive at a value for each parcel. I always take a picture and I always have a map of the property with full legal.
Thats it, you will see some people bidding who are doing it off the paper and have not looked at the properties.
Want to have som fun. Take names and telephone numbers of the winning bidders. Let a few days pass then call them. Some of them by failing to do proper research have achieved the unenviable position of being "Upside down."
If you have done your homework, you may be able to buy, or co develop or just plain get the property for full paper with full future subordination. Yip you can get rich and just off of the mistakes of others.
This is a game that you really want to do your homework.
Cheers Lucius
Lufos,
will you be going to the California tax deed sale in March?
KnowledgeJunkie--(CA)-------------
CA is a tax deed state. If property taxes are delinquent for five years or longer the property is auctioned off at a public bid auction.
And I'd suggest calling the tax collector's office, not the assessor's office. They are the people who schedule and conduct the tax sales.
The Los Angeles County tax auction is scheduled for March 1st and 2nd I believe. Either that or March 2nd and 3rd. You can get the list if you want. Call the tax collector's office and ask how.
Good Investing*********Ron Starr*************
The county of LA publishes a list which is basically just pages of 4-7 code property ID #'s that refer back to the property book. Without that property book, which is about 1200 pages long, the list is meaningless.
First, you need to go town hall in downtown LA and buy the book (Under $30). It lists all the registered property in Los angeles, as well as improvements. (As last recorded)
Then, you can go online and download the current list of tax default properties and cross reference with the property book.
The website is very helpful. Go to the california govt. home page and from there you can link to the county assessor's page. You can also mail order the property book from the website, but I am guessing you want it to arrive some time in this millenium, so that is probably not the best idea.
Good luck.