West Virginia Tax Sale Facts:
The state of West Virginia is a lien state with 55 counties. West Virginia Tax Sales auctions are by the premium bid method. The interest rate is 12% which accrues monthly. Their redemption period is 18 months. Some tax lien certificates do not sell at the auctions. These are re-offered at the next year’s auction. There is no over the counter sales for tax lien certificates.
Important Notes:
The tax lien purchaser must provide notice. The owner, and all parties entitled to notice, must learn that the investor has purchased the lien. This presents a conflict of interest. As purchasers, we want the liens to “ripen” into ownership. if that is not possible, we at least want to be closer to the maximum redemption period. The faster the redemption, the less profit.
West Virginia allows for Over the Counter sales. Unsold, un-redeemed liens sell as a tax deed property on a first-come, first-serve basis. depending on the county.
All that said, West Virginia tax sales are pretty average, so I will give them an average rating, 3 out of 5.
An Awesome Resource for Tax Sale Investors
Something else that I’d like to mention. Recently, I released a 259-page book. The title is The Ultimate Dictionary of Real Estate Terms. If you plan to attempt investing in West Virginia tax sales then this book is a MUST HAVE! Scouring the Internet, I worked with other authors’ books. Now, I deliver you guys a reference that has defined more than 4300 terms related to real estate. It’s available at Amazon and Barnes & Noble and about 200 other retailers. The price is around $20 but at the end of this post, I will show you how you can get it for free.
If you would like to have West Virginia Tax Sales explained even more,
Click on one of the links below
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.
