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Boardwalk :: Forum List Tax Liens General Discussion
lnelson
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 auction day - 2007/02/09 06:08 Hello All
I am new to this game.... I will be attending my first Trust Deed Auction this month. Any good pointers? Things to look for? What to expect? Is there enough to go around? Do all the big fish get the good deals?

You see the opening bid for $5,000, do the bids actually stop at a price that is reachable for new investors?

LaKisha
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Luanne
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 Re:auction day - 2007/02/09 14:02 Hi LaKisha,

Great! I love hearing about new investors jumping in.

Yes, there is quite a bit to know before you go in swinging. What is your county and state so that I can assess the type of tax sale auction you will be attending? Many have different bidding structures such as bidding DOWN the interest or a premium bid.

Although there will be "big fish" attending the tax sale auction, normally they have very specific properties in mind and depending on the amount of properties at auction there will be plenty to go around.


Thanks,

Luanne
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lnelson
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 Re:auction day - 2007/02/10 06:18 Thanks for a speedy reply, Los Angeles County in California. California is a deed State. How does it work with the leins? Do you have to physically attend the auction out of State?

Thanks for the input,

LaKisha
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Luanne
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 Re:auction day - 2007/02/12 14:06 Hi LaKisha,

Yes, California is a tax deed state. Meaning, the state currently does not offer tax certificates or tax lien certificates.

The only option you have is to invest in a tax deed, with this comes possession of the property.

In Los Angeles County you will have to be present at the auction unless they specify an online auction. If a property is not sold at a tax sale auction then the property will be offered at the following auction.

Good luck!

Luanne
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Boardwalk :: Forum List Tax Liens General Discussion

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