Indiana tax sales use the premium bid method
The Bid is based on the face value of the tax lien. Indiana has 56 counties and the Indiana tax sales auctions are held during the fall months; typically August through October. Many of these auctions are held on location; meaning it is an “In-Person” auction. One of the better points to Indian Tax sales is the Interest. The interest earned on these tax liens is actually a penalty of 10% to 15%, depending on when the property is redeemed. Many counties use zeusauction.com to host their tax lien certificate auctions. The redemption period is 1 year and begins on the date of the auction.
County requirements for Indiana tax sales can be complicated. You must do Your Due Diligence at a county level. For example, If the owner does not redeem the tax lien certificate, you must apply for a tax deed within six months after the redemption period expires or forfeit your money. Counties can also hold tax deed sales, referred to as surplus auctions.
Indiana also offers over the counter so with all that I give them a 5 out of 5 rating. This would be a great state to get your feet wet in if you are new. Give them a shot.
A Freebie for You.
Now what I’d like to do is give you guys a worksheet for the state of Indiana. Each one of the worksheets is several pages. Each one has all the information I just mentioned plus my personal notes for each state. There are links to the states’ laws and other applicable websites. Most importantly, there are links to every single County and in some cases municipality. Remember that some of the northeastern states run their auctions by city instead of by County. Finally, each worksheet has got a map of the state showing the counties for your convenience.
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.