A Quick Introduction
Hi Y’all. Allan Susoeff here with AskAlHow. This video is part of a series of videos I’ve produced explaining Tax Sales in each individual state. Today we’re going to talk about Washington State Tax Sales.
Guys, I’ve been at this real estate game for around 30 years. I’ve done pretty much all there is to do in residential real estate. I have dabbled a bit in commercial as well. If you find this information useful go to AskAlHow.com and check out my ultimate tax sales course. There are more than five hours of video training there. There’s just over 140 Downloadables including all the forms, tutorials, and other information necessary for you to become highly successful in buying, selling, flipping, and holding, tax liens, and tax deeds.
Washington Tax Sales
In this short video, I’m going to give you the basics of how Washington Tax Sales are conducted. In addition, I will give you my personal rating as to whether I think this state is profitable to work in or not. The rating is on a scale of 1 to 5, 5 being the best.
A Valuable Resource:
Something else that I’d like to mention. I recently released a 259-page book called The Ultimate Dictionary of Real Estate Terms. I have scoured the Internet and worked with other authors with their books. From that, I was able to delivere you guys a reference that has more than 4300 terms related to real estate. It’s available at Amazon and Barnes & Noble and about 200 other retailers around a price point of $20. That Being Said, at the end of this video will show you how you can get it for free.
So let’s take a look at Washington tax sales, okay?
Washington Tax Sale Facts:
Washington state is a deed state with 63 counties. They use the Premium Bid system. Of the 63 counties, 16 of them are using bid4assets.com at the time of this recording, the rest are in person, on location.
Auctions are typically held during the winter months. Unsold tax deed properties may be offered for sale at a secondary auction or become available for purchase via Over the Counter. Of course Over the Counter is always on a first-come, first-serve basis.
A Few Last Caveats
In Washington, properties are understood to be sold free and clear of most liens and encumbrances. There IS an exception however. Government liens like IRS or city liens may not be cleared. Also, there are other circumstances where a person may have some rights. An example there might be active duty owners who are deployed. Easy enough to figure that sort of thing out ahead of time, so I give Washington a 3 out of 5.
Interested in Tax Sales in Another State?
Tax Sales investing is a niche that has the potential to be insanely profitable.
However, most investors do not have a deep understanding of this investing strategy.
Every state has a unique set of rules and regulations. There are some basic rules you need to understand as to how the process works. Generally, states will fall into one of three categories:
- Tax Lien States
- Tax Deed States
- Hybrid States
Hybrids are states who conduct their tax sales by selling tax deeds with a caveat. The deeds have a redemption period much like a tax lien certificate.
This map provides links to information for every state as well as Washington DC.
