Tips on How to Prepare For A Tax Sale

● To understand the property's exact coordinates, boundaries, and other important details,
use GIS data. Many counties have access to GIS data, which offers a wealth of
information.
● Check with the county tax assessor to find information regarding the property's value.
Detailed information on the property can be found from the tax assessor, including the
legal description, current owner and tax information.
● For comparable property sales and other housing statistics:
○ National Association of Realtors Housing Statistics
○ US Census Housing Data
○ Trulia Data Portal
Zillow Real Estate Data
U.S. Department of Housing and Urban Development HUD-eGIS
Storefront
○ Realtor.com
● What is the property zoned for - When developing land, it is important to know what the
property is zoned for in order to determine allowable uses.
● Find out what other taxes or fees are associated with owning the property.
○ Current property taxes
○ Homeowner Association (HOA).
○ Maintenance
● What is your exit strategy - An exit strategy will help you decide your max bid price.
○ Develop
○ Flip
○ Income properties
○ Land bank
● Don't get emotional at the auction
○ Preview before you jump in
○ Know your limits
○ Have a plan and stick to it
● Make sure you have seen the property recently or seen a recent photo.
○ Although you are not allowed to enter the property you can drive by it (if
possible). The state of the property may not be accurately represented online.
● Understand the title
○ Check to see if there are any liens/tax will not be expunged after the tax sale.
● Know the rules for the state and county rules for the tax sale
● Be sure your bid is on the right property at the auction by double-checking your work.
Since you may be legally bound to a bidding mistake. Consider attending a few dry runs
at some tax sales before you start bidding for properties.