This was the first ad I ever clicked where the person got right to the point and actually said something intelligent. Thanks!

@Ted-Thomas

Жыл бұрын

Hi Jeff, thank you!

@secretsjohnson3322

9 ай бұрын

I agree. The other videos sucked

I'm not sure exactly how many videos of yours i watched today, at least 6. Thank you.

@Ted-Thomas

2 жыл бұрын

Wow, thanks! I appreciate it, and keep watching for more new videos each week! Here's a free gift for you...tedthomas.com/gift

Great information!!

@Ted-Thomas

2 жыл бұрын

Glad it was helpful! If you'd like more info visit tedthomas.com/gifts for a free mini course

Thanks for the information as i just hear about but dont know where the auction..waiti g for the auction calender ❤

Thank you Ted. Very interesting

@Ted-Thomas

Жыл бұрын

Thank you!

Thank you Ted!

@Ted-Thomas

2 жыл бұрын

My pleasure! If you'd like a free mini course visit tedthomas.com/gifts

Love this guy! Truly matter of fact, facts!!! He explains it once and it's understood. He had to be a school teacher in another life and I doggone love that shirt! Half way through the video I had to subscribe, I couldn't not subscribe. He didn't even ask us to subscribe.

@Ted-Thomas

Жыл бұрын

Thanks for your comments! Looking forward to working with you in the future. - Ted Thomas

Thank you

@Ted-Thomas

3 ай бұрын

Glad I can help!

I LOVE your generosity; thank you!!! I have 3 questions (and I"m getting excited about jumping int!!): 1: What happens if I buy a certificate this year, and NEXT year, the owners fail to pay their taxes again? How many years can this go on? Can there be multiple liens on the property? If so, what then? 2: Does the bank not have first rights to the property? Could the BANK not go ahead and pay the back taxes, paying the lien holder in the process, and sell the house for profit? 3: You stated that "the mortgage is wiped out at the auction". Where does the auction fit into this schematic? (no pay taxes >> pay the taxes and subsequently invest in lien certificate >> foreclosure >>> auction? (who is bidding? If there is bidding, how is it that I would get the house??) THANK you for your generosity and time, Friend!!

@Ted-Thomas

Жыл бұрын

Hi, there may be some confusion. When you purchase a tax lien certificate, typically, the treasurer asks if you would like to pay next year taxes as well - say yes! Your questions are mixing together two different processes - tax lien certificate auction and tax deed auctions. I recommend checking out this report to learn more: tedthomas.com/freereport

@andrewlayton9760

11 ай бұрын

I am speaking specifically of tax liens, not tax deeds, and MY experiences in dealing with tax liens. I am not a lawyer, so always seek appropriate legal advice. Do not buy tax liens with the idea that you will get the property. Gaining full indisputable "Quiet Title" to a property through tax liens can be a long and arduous task. Buy them with your projected return based SOLELY on the scenario that the lien will be redeemed. 1. You are responsible for all taxes moving into the future. You CANNOT pay next year's taxes at the auction as they are not known until the County's Tax Digest is published. That happens about two months before tax bills are sent. You will receive a notice of taxes due in the mail, but still be aware of dates and make sure you preserve your rights. 2. The bank never had first rights; the taxing authorities are always first. Tax liens concurrently with IRS liens have first rights to the property. Yes, the bank or anyone with an economic interest in the property (property owner, second mortgage holder, heirs or Nursing Homes!), can redeem the lien until such time as you undergo the legally prescribed procedure known as "Foreclosing the Right of Redemption" as described in state law. It is only after the completion of this legal action that the rights of others MIGHT have been terminated. Seek appropriate legal advice for your state. While some states consider the Foreclosure of the Right of Redemption to be a form of Quiet Title, some do not. You may have to work through a Quiet Title action, as described in state law, as the ultimate remedy to ensure that you have an indisputable Title with all other parties rights having been terminated. Seek appropriate legal advice for your state. It can be difficult to sell a property without a Quiet Title as banks may hesitate to lend to your buyer without it. That does not preclude you from selling and holding the note (owner financed). {Personally, I ignore Dodd-Frank but you might want to seek legal advice on that idea.} 3. Incorrect. Neither the mortgage nor the rights of the mortgage holder nor the rights of anyone with an economic interest are wiped out at the auction. A tax lien is superior to a mortgage (and is concurrent with any IRS lien) and takes first position but IT DOES NOT TERMINATE THE RIGHTS OF THE MORTGAGE HOLDER NOR THE RIGHTS OF ANYONE WITH AN ECONOMIC INTEREST. See #2.

He's telling you the truth I've been to a couple of tax sales and ask people different questions nobody wants you to know the secret though more you study on a particular County you will know the rules

@Ted-Thomas

11 ай бұрын

😊

Would I be crazy if I told you that I’m not an investor, and I’m just wanting to buy a tax sale property to fix it up and move my family in it?! Would that make me crazy?

@Ted-Thomas

2 жыл бұрын

No lol!

@edelquinn9857

2 жыл бұрын

Jasmin that makes u a genius

@kylebernard1025

2 жыл бұрын

I actually know someone that did this. Easy way to get a deal on a home if you are willing to put the effort into potential repairs.

@amazin2233

Жыл бұрын

I'm a single mother and that's all I want to do,I'm tired of paying rent

@sharonnamahoe283

Жыл бұрын

Me too! I just want a home!

Is it true that in Texas, the mortgage and any other liens stay with the property and is inherited to the tax deed?

@Ted-Thomas

3 жыл бұрын

Hi Jorge, Thanks for watching! Texas is one of my favorite states!! Texas is a redeemable deed state so you purchase the deed and then the owner has 6 months (longer if homesteaded) to redeem - When the owner redeems, you get paid back the taxes plus a hefty 25% penalty. Always check the rules for any county that you plan to attend an auction but in Texas, the mortgage is extinguished. You can also check the Texas State Statutes (statutes.capitol.texas.gov/Docs/TX/htm/TX.34.htm)

Id like to learn a bit more form you Mr Ted, Im located in Colorado

@Ted-Thomas

2 жыл бұрын

Sure! Please go to www.tedthomas.com and sign up for my Special Insider's Report as well as find out some general information! Keep watching for more great information!

How do I find out more about tax liens? And deeds certificates.

@Ted-Thomas

8 ай бұрын

We have a one-day virtual workshop twice a month! Here is more information: tedthomas.com/1dayworkshop

Hello Ted. I’m a 100%Disabled Veteran and am Very Interested in this procedure.

@Ted-Thomas

Жыл бұрын

Hi Kevin, Once a month Ted hosts a virtual workshop, the next one is this Saturday! Here is more information, this is a great place to start learning - tedthomas.com/1dayworkshop

How much time does the owner have to pay his tax debt before the property is foreclosed? This would determine how long my investment would be tied up...months? Years?

@Ted-Thomas

Жыл бұрын

Hi Rod, for tax lien certificate auctions each state will clearly specify what the redemption period is - it could be 6 months - 3 years. - Ted Thomas Team

How long does the property owner have to pay their taxes back? Awesome video, and super interesting.

@Ted-Thomas

Жыл бұрын

Hi, that depends on the county - each county will have a different redemption period - Ted Thomas Team

@andrewlayton9760

11 ай бұрын

It depends on the STATE, not the county. Redemption periods are described in STATE law.

Cant wait for the 28th waiting to learn from you.

@Ted-Thomas

2 жыл бұрын

Great, see you then!

Any luck in Brooklyn New York!?

@Ted-Thomas

11 ай бұрын

Here is more information on New York - tedthomas.com/tax-deed-sales-in-ny/

Does the mortgage follow the property owners that went into default?

@Ted-Thomas

3 жыл бұрын

Hi Rie...Yes, in most cases the lender will still have a mortgage note with the property owner but typicallyit is extinguished from the property by the tax sale. Of course, always check the auction rules for the state and county in which you plan to invest as the laws and rules from state to state and county to county will be different. If you want to find out more details you can get a free mini-course at tedthomas.com/gifts

What happens when the taxes collector says we don’t owe any house taxes ? Where can I check how much taxes I need to pAy the taxes .

@Ted-Thomas

Жыл бұрын

Hi Maria, you can check the county records to find that information - Ted Thomas Team

Did the aution belongs to state or county control so im safe in any steps?

@Ted-Thomas

Ай бұрын

The auction is held on a local county level - Ted Thomas Team

Ted, It would seem the mortgage lender (if there is one), would simply pay up the outstanding taxes themselves, to avoid loosing the collateral that mitigates their risk. Is there a reason they do not? Also, if there is an auction by the State or the County for the property, would the winner of the auction just buy out the tax lien and even the mortgage at a discount?.. that seems to have been my experience. Also, d oes it change by property? For example, I see Condo's often get overlooked at auctions. Do Association fees go away on the property and start over as well?

@Ted-Thomas

Жыл бұрын

Wow you’ve got a lot of questions, thanks for writing in! let me give you brief answers. In the United States we have a process, it is called due process of law. That simply means in the case of tax-defaulted property that the county who is creating this foreclosure and tax-defaulted auction must notify everyone on title. The bank has been notified, if you look at the file they are notified between 3-6 times. If they do not show up and pay the defaulted taxes their lien/loan is wiped out. So you are absolutely correct, if they just paid the taxes the auction would stop. If there is an auction and we are talking about tax defaulted auction it will be a county auction not a state auction. The county will wipe out, cancel, and delete mortgages and deed of trust loans. - Ted Thomas

@kangjane6674

Жыл бұрын

@@Ted-Thomas why the morgage company will not show up and pay the property？ They can pay the property and stop the auction. And the bank becomes the owner of the property and hold a foreclosure to sell the property?

@70washington

Жыл бұрын

@@kangjane6674 From what I can tell is not every mortgage lender pays taxes for you, that needs to be worked out when signing the purchasing agreement. Some or many people can opt to pay the taxes themselves, many forget to pay it. When we bought our house years ago we opted to have everything wrapped up in one payment, we always checked each statement and end of year papers checking it for indiscretions and resolve any if there was fast.

@andrewlayton9760

11 ай бұрын

@@Ted-Thomas That is absolutely incorrect in every county of every state in the US. The county tax lien auction does NOT terminate the rights of any parties, it simply transfers the county's rights and interest in the property to the tax lien buyer. The rights of other parties are not terminated until the "Foreclosure of the Right of Redemption" action has been COMPLETED as prescribed under STATE law. Even then, a "Quiet Title" action may be needed to fully secure Title to the property. As always, seek competent legal advice before embarking on adventures in tax liens.

@andrewlayton9760

11 ай бұрын

@@kangjane6674 Typically because the property isn't worth their time and expense. Banks are efficient at lending money. They are very inefficient at turning around properties unless it is quick and easy with a lot of equity to be gained; those usually do not make it to auction. Some of those DO slip through but usually auctioned properties are not in good condition (example: Grandma's old house that hasn't been properly maintained for the last 20 years).

is the bank the entity that forecloses on the tax delinquent property?

@Ted-Thomas

11 ай бұрын

Thanks for asking, tax defaulted properties are the result of an owner not paying property tax. If they fail to pay property taxes they forfeit the property to the county. The county will then confiscate the property and resell it. - Ted Thomas

How to get tax deed list from dallas county.?

@Ted-Thomas

Жыл бұрын

Hi Bosamma, you can go to the Dallas County Tax Office online to find this list - Ted Thomas Team

Is this workable in New Mexico? Thanks!

@Ted-Thomas

Жыл бұрын

Thanks for your question. The systems of tax liens and tax deeds is pretty much universal and works in all states and counties within the United States, you just need to know the rules. - Ted Thomas

What happens to the association fees ?

@Ted-Thomas

2 жыл бұрын

What do you mean by association fees?

Im reading in Palm Beach County Florida that holding a lien certificate does not mean the holder will receive title to the property - the property goes to the highest bidder ? My question then is does the tax lien holder still get paid ? I would think so.

@Ted-Thomas

Жыл бұрын

Hi Marc, yes tax lien certificates you do not get the property. For a tax lien certificate, the bidding method is you bid down the percentage rate from 18%-0.5%. If for some reason the property owner does not come in and redeem the certificate, the property will then go to a tax deed sale. You will get paid on your certificate or you get the property. - Ted Thomas Team

@marcw.5492

Жыл бұрын

@@Ted-Thomas thanks for the reply that seems to make sense.... I also noticed looking at the results of auction in the same county that many of the rates were .25% ... Some are as high as 17 or 18%, what are the odds a guy like me would get a certificate at 18%? I do know that properties that did not get sold in the auction at some point or available to anyone who wishes to purchase them and are 18% rate I assume these are undesirable properties however. Thanks again good stuff.

@marcw.5492

Жыл бұрын

@@Ted-Thomas Thanks ! I see that in Florida banks buy most of the certificates at the auction at .25% so its best for me to buy OTC (18 % yay) but the ones that end up there I assume are less desirable ?

When you buy a tax lien certificate, can the property owner still redeem and pay the penalty and get the property back even if the tax lien certificate holder has taken the property to foreclosure?

@Ted-Thomas

3 жыл бұрын

Hi Rupi, thanks for watching! Thanks for watching! The first thing you want to do is get the auction rules. You can also locate the state statutes online and find the portion that discussed tax lien sales. Every state and county have different rules so it is important to know before you attend an auction exactly how the process works in that particular county. If you'd like a free mini corse visit tedthomas.com/gifts

@andrewlayton9760

11 ай бұрын

The only thing the County controls is the auction procedure itself. State law governs everything else. Your state's laws describe the redemption period and "Foreclosure of the Right of Redemption" procedure. Until you complete the foreclosure on the ROR, the lien can be redeemed by anyone with an "economic interest" (meaning not some random off the street). Seek proper legal advice before undertaking any of this.

How long or how many years or months since the back taxes are not paid. When can the investor buy? Within 1calander year ?

@Ted-Thomas

Жыл бұрын

Hi Lorna, this all depends on the state you are investing in - Ted Thomas Team

@lornabartlett2744

Жыл бұрын

@@Ted-Thomas I understand thanks..I'm living in Canada 🇨🇦. Interesting how we too have these investments. We currently are in a housing market crunch to find more affordable housing for local low income seniors citizens. And youths in college

@cassidyp

Жыл бұрын

@@lornabartlett2744 I'm also in Canada, where do you look for such opportunities?

I have a relative that said if she pays the property tax for my mother for 3 years she owns the property in WV is this true?

@Ted-Thomas

10 ай бұрын

I can not speak on your situation, however, if someone is delinquent in paying their taxes the county will announce an public auction and anyone can participate and pay the tax lien certificate in West Virginia. We are not lawyers in the office, I recommend contacting one about your situation. - Ted Thomas Team.

I would think all the investors with more money than us average or less than average income people would saturate this space. Is there room for newer investors?

@Ted-Thomas

2 жыл бұрын

Thanks for your question. Nationwide there's 5,000 auctions, plus many states will have thousands even up to a million of tax certificates, so I've never seen them run out.

I love you, Ted. How can I get in contact with you regarding the topic?

@Ted-Thomas

Жыл бұрын

Thanks for your question. Please check out my website Tedthomas.com

In my county, you have to pay 10% of the auction price. Still could be a great deal though.

@Ted-Thomas

10 ай бұрын

Yeah! - Ted Thomas Team

Would I be able to get rights to property in California by paying the taxes before the property is taken by the state and given a tax deed? I know 100% the owner isn’t going to pay the owed taxes.

@Ted-Thomas

Жыл бұрын

Thanks for your question. If you want to purchase a property you have to purchase from an entity. You could either purchase from the owner or when the tax auction takes place you can purchase from the county. - Ted Thomas

@Mr07bowtie

Жыл бұрын

Well that’s a bummer. The owner is deceased and I can’t find any next of kin. And nobody has done anything probate to boot 🤦🏼‍♂️

I been paying taxes on this property some not bought since 2014 no one else owns any on it. We it's going up for auction now in July and the next door neighbor went and tore the house down sold the antiques, all the chestnut wood out of house and tin roof was big house , kitchen cabinet, fireplace mantels, antique doors etc and I'm told by lawyer there is nothing I can do to this man ?? he is getting away with stealing it and how it's not worth what I had in mind to do with it, I still can buy at auction and put trailers on it to rent to government at $600.00 month. It's just not fair that the re is nothing I can do to this man. 😢

@Ted-Thomas

Жыл бұрын

Thanks for your comment. So sorry, not sure I understand what took place but if the taxes were paid the other party was enjoying your benevolent payments. Sounds to me like that is not fair. I don’t have a full understanding… - Ted Thomas

I have a good question on this, Ted. I am setting the demographic to Florida Tax Deed Sales. Before the sale is to come up, is it allowed to reach out and try buying the property out from the owners directly? Then just pay the taxes myself? I am in a situation down here where they auctions are running much higher that one would want to pay for these properties. If there is a way I can pull this maneuver then I can prevent the property from getting run up, which will increase my profit potential. Love the content by the way. Thanks

@Ted-Thomas

2 жыл бұрын

Hi Kyle, this is unlikely to happen unless you invest in a county that has an "over the counter" option. Properties that go up for auction that do not get sold, end up on a list that could be called "over the counter list" "lands forfeited list" "strike off list" "surplus land list" , depends what county you are looking at, here is some more information on that: tedthomas.com/over-the-counter-tax-liens/ - Ted Thomas Team

@kylebernard1025

2 жыл бұрын

@@Ted-Thomas Thanks for reaching back out on this. I looked into it a little more, I think what I am referring to is kind of like wholesaling the property. Reaching out to the current owners and saying "Hey, I see your property is going up for auction next month. How about I offer you $$$ to sign it over to me." Once I have the property, I can then catch up the taxes and have it pulled from auction. Does that make sense or could that be too risky?

@TheKingcld

2 жыл бұрын

you can very well get the house under contract before the tax sale and settle the back taxes. yes you can do this

@kylebernard8149

2 жыл бұрын

@@TheKingcld Thank you for your response. I have my ducks in a row and ready to start hunting. :)

@andrewlayton9760

11 ай бұрын

@@kylebernard1025 (Your second post) I have obtained property this way.

Really almost any ware?

@Ted-Thomas

2 жыл бұрын

That's right!

if i just pay the taxes on this property does that mean i own the house automatically ... so it wont go for auction ....

@Ted-Thomas

Жыл бұрын

Hi David, no. The auction process is what allows you to bid and win a deed to the property to become the new owner. The county needs to be involved to give you rights to the property. - Ted Thomas Team

@davidking3865

Жыл бұрын

@@Ted-Thomas THANK YOU

f i just pay the taxes on this property does that mean i own the house automatically ... so it wont go for auction ....

@Ted-Thomas

Жыл бұрын

I don't understand the question

@andrewlayton9760

11 ай бұрын

Anyone can pay the outstanding taxes on a property. It would do nothing more than remove the property from the auction list. Simply paying the taxes does not convey Title (ownership). It neither gives you any lien against the property nor any interest in the property whatsoever.

Why wouldn’t someone pay their taxes??

@Ted-Thomas

3 жыл бұрын

There's many reasons why people neglect to pay their property taxes... Normal hardships like loss of job, death, sometimes a property is left in a will to kids or family members that never do anything with it and just let it go.

Why not go buy a house not pay the taxes and buy the tax lein at auction than let the house go into foreclosure and the mortgage is wiped out and you get the house for tax lein cost

@Ted-Thomas

Жыл бұрын

Hi Ryan, you can not purchase a tax lien certificate for your own home. The county will not allow you to participate in auctions if you are a delinquent homeowner - Ted Thomas Team

No way Not in my city

@Ted-Thomas

Жыл бұрын

What city is this?

@andrewlayton9760

11 ай бұрын

Yes way, in your city, in every city.

@Mojo27564

11 ай бұрын

What about a New York Brooklyn

a.k.a. ...How to take a poor persons home and force them onto the streets. The first thing you need to do is to let go of all your morals and beliefs concerning doing right by others. Then you need to hire someone to remove the old poor people living there.

@Ted-Thomas

Жыл бұрын

Hi, in the state of California a property is delinquent for 5 years before it ever goes to auction... How will the school teachers, police officers, and firefighters get paid if no taxes are collected? - Ted Thomas Team

@LarryInNM

Жыл бұрын

@@Ted-Thomas Income Taxes, which are actually based on the ability to pay.