Frequently Asked Questions
HOW DOES IT WORK?
- SCHEDULE a consultation
- BEGIN SEARCHING Subscribe to the Parteon page to search solo, or contact the Tax Deed Center to schedule a consultation.
- NOTIFY the Tax Deed Center of any properties that you may be interested in purchasing. The Tax Deed Center will help you with the next steps to research, bid on, or purchase propertes.
What is a tax lien?
Tax lien certificates (“tax liens”) are liens similar to “I Owe You’s” that are sold by the government when property owners fail to pay property taxes. When a tax lien is purchased in most places, the certificate holder does not have any rights to the property, and the property owner can pay their taxes to redeem their property within a period of time called the redemption period. If the property owner pays their taxes before the redemption period ends, the tax lien certificate holder (the investor) gets their money back plus interest. If the property owner fails to pay their taxes and redeem their property, the lien holder could become the new property owner. Click the following link to watch the short video: https://youtu.be/e8hJoOfIdDA?si=fZ-kzSthhO_mKcPn
What is a tax deed?
Tax Deeds are deeds of ownership sold by the Tax Collector. In most places they are sold after a tax certificate is issued for non-payment of the annual property taxes, and after the property ower fails to redeem the property. With tax deeds, the government sells the actual property instead of an “I owe you.” Vacant land can be purchased for as low as *$1,000 and can go up to *millions depending on the location. Click the link to watch the short video: https://youtu.be/e8hJoOfIdDA?si=fZ-kzSthhO_mKcPn
What is a redeemable tax deed?
A redeemable tax deed is a legal document that grants ownership of a property to an investor who has purchased it at a tax auction. However, the original property owner still has the right to reclaim the property by paying back the taxes, penalties, and other fees associated with the sale during the redemption period. Click the link to watch the short video: https://youtu.be/e8hJoOfIdDA?si=fZ-kzSthhO_mKcPn
What is the redemption period in my State of choice?
Redemption periods vary from state and average 6 month to 2 years. Some properties are available for immediate purchase and have no redemption period.
Is this a scam?
No. Tax Deed and Tax Lien Auctions are public auctions held by the local tax collector. Tax certificates and deeds are sold to the party who will pay the property owner's tax and accept the lowest interest rate when redemption of the delinquent taxes is made. All monies paid to purchase tax liens and tax deeds are paid to government offices.
Is this fast money?
No. This process can be like planting a money tree and waiting for it to grow. Although trees take time to grow, the fruit is plentiful season after season. Investors should plan on enjoying the journey for at least 4-6 months to 2 years per property.
Can I invest in more than one property at a time?
Absolutely. You can invest in as many properties as your budget will allow.
How much money do I need to get started?
Tax liens can be purchased for under *$100. Tax Deeds can be *$1,500.00 or lower. Less expensive properties usually require more building or repair work. We ask that you let us know how much you would like to invest, and The Tax Deed Center will help you strategize based on your budget. *All numbers are estimates.
How much money will I make?
The amount of money you can earn depends on the amount and type of investments you make. Tax lien certificates usually yield smaller returns on investments than tax deeds. Both generally yield higher returns than local banks accounts offer.
How often are the auctions?
Auctions are occurring almost daily all over the United States.
Do I need good credit?
No. Credit is not required.
Do I have to participate in an auction to purchase property?
No. We can help you access properties that are available for immediate purchase without having to bid in an auction.
Are there properties that are move-in ready?
Its possible, but unlikely. Most of the properties will require building or repairs before occupancy.
Does the tax deed center offer legal, realty, and/or title services?
No, however we work closely with licensed professionals in each state who provide those services for a fee.
How do I know if the Tax Deed Center services are right for me?
The Tax Deed Center services ARE right for you if:
- You want to make passive income investing in real estate.
- You have money to invest that you will not miss in the near future- this process takes time
- The real estate market is not in your favor at the moment- When market prices and interest rates are too high, the Tax Deed Center will search the clearance section for you!
- You are too busy to spend hours, days, weeks, or months searching for investment properties.
- You are open minded regarding purchase location, investment ideas, and investment strategies. Most of the properties will not be move in ready and will require some TLC.
How do I know if the Tax Deed Center services are not for me?
Answer: The Tax Deed Center services ARE NOT right for you if:
- You are impatient and you want fast money
- You need your disposable income for some purpose other than investing
- You are not flexible with the location of your desired property. *Hot spots like popular cities are the most desirable and properties there are in high demand.