As with many of the other posts before it today we will be discussing Michigan Tax Sales.
Michigan has 83 counties and is a deed state. The deed to the property is sold to the highest bidder using the Premium Bid Method. There are usually 2 annual auction dates for Michigan with the first auction requiring a minimum bid to purchase the parcels.
Unsold tax deed properties can be offered for sale again later in the same year at a “No Minimum” bid required tax deed auction.
Michigan tax sales are held annually during the months of July through October. Most of the Michigan counties hold their auctions online however 14 counties are still in person style auctions. Most of the Michigan counties hold their auctions online at the tax-sale.info website.
Because of the two auctions per county per year and the fact that they do offer over-the-counter as well, I give Michigan three out of four.
A Special Gift
Now what I’d like to do is give you guys a worksheet for the state of Michigan. Each one of the worksheets is several pages. Each one has all the information I just mentioned plus my personal notes for each state and then links to the states laws, other applicable websites, and links to every single County and in some cases municipality as in some of the northeastern states who 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.
A Short Commercial…
Also, let me go ahead and put a plug-in for my latest book, The Ultimate Dictionary of Real Estate Terms. If you intend to be in real estate, especially Michigan Tax Sales, this book is absolutely something you need to have. This book is the consummate real estate reference on the market today. It has more than 4300 terms defined over 250 pages. You can get it at Barnes & Noble or Amazon or more than 200 other retailers throughout the world for about 20 bucks. However, if you stick around with me until the end of this, I’ll tell you how you can get it for free.
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.