Ohio First Timer Ready To Bang Head Against Wall! Please Help!!!!
ok heres the run down, me and my fi'ance recently encounted information on how to buy Tax certificates/ Tax liens in a variety of states including my home state of ohio. since then we have been looking at properties in ohio. (yes i know ohio for the most part is a straight tax deed auction sale but i want to know about the few rare lien places in ohio)
I understand the basics of where to find them thats not a problem but i do have a few questions that hopefuly some kind person out there can answer for me.
1. are tax certificates mearly for the DELIQUENT BACK TAXES or do i pay them UP TO DATE? As in i remove all dept that would be owed NEXT TIME the taxes are collected? (i'm talking about a straight lien sale not an aution or an over the counter situation where the property has already been to auction and rejected.)
i currently belive that the lien certificates are for back taxes only but if im wrong id like to know it before i invest my money and spend more for one then im expecting to.
2. what is the Amount of time that the person who currently owns the property has to pay back the lien? is it 3 months in all states that dont specificly state a "Right of Redemption" period? I know several states say a year or 6 months or whatever that is understood i want to know about the other like ohio.
I want to know about the states that don't specify. If nothing else i want to know about OHIO because thats where im looking to buy.
3. Once that period has expired be it 6 months or a year or whatever how do i go about getting the property deed?
my current thinking is that i need to pay the taxes up to date then file to get the deed. i saw somewhere that there is a 25 buck processing fee but i want to be sure. Also i read something about ohio having a judicial forclosure in its Deed sale is this also the case with its Lien Forclosures? Any information would be apriciated but give me information on ohio and i'll love ya for life!
lol
Thanks ive been searching for this information for a week and i have been unable to find it. i figure SOME ONE here has to know and might be willing to share info with me!
thanks!!
take care,
be well,
and have a nice day
mike
Mike--(OH)-------------
Every state has different statutes related to the collection of delinquent property taxes.
If there is no redemption period stated there is probably no redemption period after the tax deed is issued. The length of time to redeem after a tax lien is sold will vary from state to state.
I think you should be reading the state statutes on the topic of tax liens and tax deeds.
I'd suggest you work just one state this year. Meanwhile, do so studying about other states and pick one or two other ones to start investing in. Work you way in slowly, not rushing all over kingdom come.
The method of converting liens to deeds varies from state to state. You probably read about one state only costing $25. In some states it can cost over $1K because of attorney fees. In those states it does not make sense to buy the real cheap properties, as there is not enough profit to pay the cost of getting a deed.
After you have had a couple of deeds issued in a state using an attorney, you probably can start doing it "pro per" which means without an attorney. You will have the paperwork from the earlier deeds and you will see out the process goes. Usually there is not opposition to your request/petition/lawsuit for a tax deed. If there is, then you may need to consult with an attorney or even hire one to help you.
Good Investing****************Ron Starr*************
ok where can i find the state stature?
thanks,
mike
Pucx--------------
The state statutes are all over the internet. Do a search.
Better is to go to a law library and read the "annotated" statutes with court interpretations of the statutes, not just the bare bones "black letter" law of the statutes.
Good Investing***********Ron Starr**********