How Much Should I Be Paying For The Property Lists?
I've been looking at a number of tax lien sales in Illinois, recently. In many counties, the treasurer's office will charge anywhere from $200 to $600 for the list of the properties up for auction.
Is this normal? Or should I expect to be paying something more down to earth (less than $50) for the list?
HostMidwest--(IL)----------------
That seems like an outrageous price to me. Mostly they are free or cost less than 10 in counties with which I am familiar--and that is a lot in many different states.
Study the state law. Usually the list of properties for sale have to be published in a newspaper in the county. That paper can be gotten for $0.50 to about $3.00, even if you order a single copy and have it mailed to you. Ask the treasurers/tax collector's office the date of the publication.
Many counties these days have the lists on their web sites, where they are free.
Good Investing**********Ron Starr*************
WOW
I pay $10 for an initial list and another $10 if I want to get the final version at the door with all the properties that were stayed removed. And I feel THAT'S a ripp off. I should just be able to turn in my original list as proof of purchase and get the updated one free.
Sheesh at those prices I'd never attend!!! Maybe that's the point.
Without knowing which counties in IL you are talking about, I can give you some info from some of the collar counties of Chicago. The ones I deal with offer you options:
1) Get the published list from the paper. Very cheap, limited info (tax area, parcel number, back taxes, mailing address).
2) Get an electronic list (CD) with additonal details - lot size, property type, legal description, tax breakdown - 1st installment, 2nd installament, payment dates, listed owner, etc.). These generally cost between $50 to $100 and typically include an updated version just prior to the sale.
3) Sometimes you can get a paper copy from the country at the tax sale for free. Once again this has only basic information.
4) There are also various internet sources of these lists (taxsales.com, etc.) that charge.
5) Finially some counties have controlled (i.e. a fee based service) that allows internet access to the property info system. You can get much more than a tax sale list here -- history of transactions including zoning and deed changes, previous owners of record, past valuations, etc. This is the most expensive (several hundreds of dollars) and is typically used by large developers.
Hope that helps.
P.S. All of these are typically writen off as business expenses.
_________________
Tax Liens are my Gig
Sometimes I pass, sometimes I Bid...
Glenn[ Edited by GlennI on Date 03/05/2004 ]
i get mine free in fla...there are always ways...just need to find them sometimes.
just a thought
Thank you all very much for your help. I looked at a few more counties, and the lists were going for a much more reasonable $20-$40.
The $500 list was in Lake County (north of Chicago), and I think the $200 list was in McLean county. Needless to say, since a large number of county auctions (in Illinois) happen in early November, I'll know which counties to skip.