Today’s Baltimore Sun had the tax sale list of properties that are delinquent on property taxes and municipal bills. There are approximately 28,000 (!) on the list. This is the largest I have seen and an indication of the effect that the economy is having.
Are you on the list? You better pay up by Friday April 30 or your property will be going into the 2010 Tax Sale
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2 responses so far ↓
1 Beth // Mar 18, 2010 at 11:55 am
I’m new to this whole process, originally thought it was a great deal on buying a house, but the more I read the less likely it seems that would happen. Do any properties go for the lien amount, or do you always have to bid over it? Also, do expensive homes w/ high liens go higher or lower than moderately prices homes with low liens. ie 800k house with 40k in liens or a 300k house with 5k in liens? Thanks!
2 Ned // Mar 18, 2010 at 6:21 pm
Occasionally properties go for the lien amount or very close to it. But they tend to be the worst properties. Good properties in good areas generally go for a big premium over the lien amount. Still way below the property value but bids are usually significantly about the lien amount. Keep in mind the biggest risk in tax sale is bidding too much.
It can be a way to get a property at a bargain price but actually getting a property is not that common.
Higher liens tend to get a smaller premium than larger liens. There tends to be less competition for the larger liens.
Thanks for stopping by and commenting, – Ned