Anne Arundel County MD tax sale will be held online June 8, 2010. Their website for the Tax Auction is AAcountyTaxSale.com. The site currently lists 2876 properties for their tax sale. This is about 1/2 the number in the Prince Georges county tax sale and about 1/10 the number of tax liens is the Baltimore City Tax sale. The site also has all the information you need to bid including video tutorials.
Tax Sale Registration Deadline
Registration to bid has just opened and will continue until 4:30 pm Friday June 4, 2010. If you want to bid you must register in advance. Registration is free!
What is the Interest Rate on Anne Arundel County Tax Liens?
The interest rate is 18%. Anne Arundel County uses the high bid premium method of bidding. This means you effective interest rate can be MUCH lower depending on your bid. Make sure you know the rules before bidding.
Know the Rules, Know the Risks of Tax Sale
Tax sale investing can be a very safe way to get high returns. It can also be a way to acquire properties at bargain prices. But you must know the rules and the risks. The biggest risk is bidding too much. It is easy to do if you forget the hidden costs like the high bid premium which reduces your return or the attorney fees and subsequent taxes if you foreclose and acquire the property.
Good luck and don’t bid too much,
Ned
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7 responses so far ↓
1 industrial pumps (2 comments.) // May 26, 2010 at 11:49 am
Pardon my ignorance, but what exactly is a tax sale?
2 Ned // May 27, 2010 at 6:54 pm
When Property taxes haven’t been paid the city or county puts a lien against the property. They then sell those liens to investors who then in essence become the tax collector and get to collect both the taxes and interest due on the late taxes.
3 Dan (3 comments.) // Jun 1, 2010 at 9:21 pm
Ned, are you dipping into AA this year? Or are you just sticking with Baltimore City?
4 Home Mortgage Kansas (4 comments.) // Jun 4, 2010 at 10:24 am
I think the term tax sale is new to a lot of people. This just highlights the need for people to learn more about it.
5 Ned // Jun 4, 2010 at 12:58 pm
I spent all my money in the Baltimore sale Dan
6 Amanda Sanders (1 comments.) // Jul 30, 2010 at 9:19 pm
what exactly is a tax sale? i dont know either
7 Ned // Jul 30, 2010 at 10:49 pm
Amanda,
Here is a post that explains what a tax sale is.
What is a tax Sale?