Live auctions on tax liens are generally conducted once a year in the county courthouse. You would be given a bidder number. The actual bidding process differ from state to state as well as the laws. Sometimes you bid down the rate and other times the price.
Another way to purchase tax liens is over-the-counter. To purchase OTC liens, you simply call the county and acquire a list of properties up for auction. Then, you select the properties you’d like to buy and bid on them, and send in a check. The properties included in the sale are almost always at the full interest rate. OTC liens are usually the ones that did not sell at the auction in most counties. However, in some counties located in rural areas, OTC tax liens are exclusively sold there.
Online bidding on tax lien properties is also available in the internet. This is the newest and most exciting trend to hit the tax sales nowadays. The county conducts an auction on its website or a third party website does this. Then, you simply place a bid from the comfort of your own home via computer. It makes your investment plan simpler without the hassle of travelling.
