One of the best ways to get started quickly with little out of pocket cost is to do so over the counter (OTC). Below I will give some information about 3 states that do it statewide. It is important to note that many counties do over the counter in other states as well. Always ask any county you contact if they do OTC sales, or not.
Keep in mind as well that these are properties that were unsold at auction so you will see alot of properties you will not want. You will need to research through some bad properties to find the good ones. Some lists are better than others. It will benefit you to know how each county works and look for the best times to get the freshest OTC lists possible.
Pennsylvania Repository Sales
It is important to understand that the terminology used when discussing a specific state rarely translates to other states. If you ask a state other than Pennsylvania about repository sales they will not know what you’re talking about.There are three types of sales in PA.
1. Upset Sale- Public auction setting. (You have to be there in person)
2. Judicial Sale- Also a public auction. (You have to be there in person)
3. Repository Sale- The third level of the sales. You are able to submit a bid through the mail. This is very nice if you live out of state.
How to get a list of properties.
· Contact the Counties in PA. (Philadelphia and Allegheny counties do not have Repository Sales so you don’t need to contact them.)
·Ask to be transferred to the “Tax Claim Bureau”
·Ask them if they have a list of Repository Properties.( If they say no move on to the next county.) If they say yes ask how can you purchase them?
o Ask how can you get a list of these properties?
- You need them to send you a list of the properties. Most of the time they will
expect you to walk in and pick one up, but this is usually not an option for you.
Explain that you are out of state and will not be in the area.§ If they refuse to email,
fax, mail, or make it available online offer to send a self addressed stamped
envelope.
- If they still refuse ask for a manager.
- GET THE LIST! Don’t take no for an answer.
- If they have a charge for the list make sure there are a lot of properties available so it is worth the investment. If there is a charge you will find it isn’t very much.
· Begin researching any lists received.
Arkansas Negotiated Sales Lists
Go to http://www.cosl.org/Mouse over the the publications link at the top of the page. Select the negotiated sales lists option, and select the county you are interested in.There are different grades of properties available.S2 Sales Parcels that were offered at public auction less than one year ago. These properties require collection of the minimum bid (Assessed Value) as well as the delinquent real property taxes, interest, penalties and fees.These sales have a one year litigation period from the date the deed is issued.S3 Sales Parcels that were offered at public auction more than one year ago, and less than two years ago. These sales require the collection of all delinquent real property taxes, interest, penalties and fees. These sales have a one year litigation period from the date the deed is issued.S4 Sales Parcels that were offered at public auction more than two years ago. The Commissioner may consider all reasonable offers. These sales have a 90 day litigation period from the date the deed is issued.You can view the data online, and select the lists available for each county.One of the biggest challenges is researching is Arkansas.Here are a few websites that can help us. www.arcountydata.com/index.asp, and http://www.actdatascout.com/
Alabama Tax Delinquent Property Lists
Alabama is a lien certificate state with a 3 year redemption period. This is one of the reasons they have so many properties available. you will want to make sure you research properties that have been on their list for more than 3 years to get deeds, otherwise you will be buying lien certificates. Below is the link to their information. Be sure to read it thoroughly.
Alabama tends to do things a bit different. Instead of making a bid you will make an application for purchase, and they will make an offer to you.
http://www.revenue.alabama.gov/advalorem/transcript/transcript.htm
