Need Clarification
I live in Michigan which is now a tax deed state (was a favorable tax lien state) I cannot seem to find the rules to the auctions (my county opted for the state to handle these properties) I would like to purchase these at auction and need some advice. When an investor purchases a tax lien the county gets its money right away how does this work in a tax deed state such as Michigan. I am holding a newspaper listing the parcels in a show cause hearing and notice of judicial forclosure for non-payment of property taxes. From my understanding any of these properties not redeemed by this last chance notice will be finalized in the forclosure process then auctioned at the tax deed sale. If an investor cannot buy a tax lien does the state/county just wait out 2 years without taxes until they forclose? How can I use this information to my advantage. -sorry about all the questions - any help would be great[ Edited by Mneoguy on Date 12/29/2004 ]
The state of Michigan does offer high yielding tax lien certificates for a Limited Time. In fact, on July 22, 1999, the Governor signed into law significant changes to the Michigan tax-collection process. For transitional purposes, the former system will remain in effect through December 2006 for property taxes levied before January 1, 1999. Basically, Michigan tax lien certificate investors may attend a local tax sale auction and purchase Michigan tax lien certificates.
Try:
http://www.michigan.gov/documents/Auction_FAQs_105827_7.pdf
http://www.michigan.gov/documents/Rules_123_39765_7.pdf
http://macombcountymi.gov/TREASURER/pdf/RulesandRegulations.pdf
http://www.co.hillsdale.mi.us/misc-pages/Tax%20Sale%20Rules%202003.pdf
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