Uncovering the Untapped Potential of Hidden High-Return Assets

For your Ultimate Guide to New York Tax Liens and Tax Deed Sales, we’re focusing on Suffolk County, New York—a place where tax deed investing can turn hidden opportunities into high-return assets.

Investing in tax deeds and tax liens can be very rewarding, with returns between 18% and 36%. It’s a less common way to invest, and you can start with a small amount, sometimes just $500. Suffolk County, known for its rich history and the upscale Hamptons, offers a great chance for investment in New York.

Understanding Tax Sale in Suffolk County, NY

Suffolk County is one of only two counties in New York that hold Tax Lien Sales, usually scheduled for November or December. During these sales, the County Comptroller auctions tax liens on properties with overdue taxes. Details about these liens are published in official newspapers for six weeks and in local town newspapers for two weeks leading up to the sale.

Property owners have the opportunity to reclaim their properties through the “Right to Redeem.” This right allows them to pay the lien amount, accrued interest, and any subsequent taxes owed to the County Comptroller. However, the redemption period is limited to either 12 or 36 months, depending on the type of property.

For most properties, excluding one, two, or three-family residences, the redemption period is 12 months from the sale date. During this time, the property owner or interested party must settle the overdue taxes, interest, and additional taxes to redeem the property.

For properties classified as one, two, or three-family residences, the redemption period extends to 36 months from the sale date. This extended timeframe gives owners up to three years to clear their debts and reclaim their property.

If the property is not redeemed within the allowed time, a tax deed is issued to Suffolk County. These Tax Deeds are then sold to new owners through the Suffolk County Tax Deeds sale. The minimum bid typically includes the back taxes owed, accrued interest, and any selling expenses.

To access the Suffolk County Real Property Auction, visit the county website. Navigate to the “Departments” section, click on “Economic Development and Planning,” and select “Real Estate.” From there, choose “Real Property Acquisition and Management,” where you’ll find the link to the Suffolk County Real Property Auction.

Steps to Start Tax Lien or Tax Deed Investing in Suffolk County

Research and Understand Local Laws

It’s important to know the rules in the area you’re investing in. Each state and county has its own laws about tax sales.

Visit the Local Treasurer’s Website

For Suffolk County, you can get all the information you need about tax liens on the Suffolk County Comptroller’s website.

Check the Auction Site

You can find listings for tax lien and tax deed auctions on the county’s auction website. For Suffolk County, check out Suffolk Real Foreclosure.

Read the Details About Tax Liens or Tax Deeds

Make sure you know all about the sale schedule, how to inquire about parcels, and other key details. This can help you avoid common mistakes.

Contact the County Office

If you have more questions, don’t hesitate to contact the county office. They can give you specific advice and answer any doubts you may have.

Important Details for Suffolk County

Detail	Information
Tax Sale Type	Tax Lien Certificates
Typical Sale Date	November or December
Redemption Period	12 months (general), 36 months (residences)
Interest Rate	Varies
Bid Procedure	Typically Bid Down
Deposit	Varies by property and auction rules

Pro Tips

• Surplus Property Auctions: In Suffolk County, besides tax lien sales, investors can also consider surplus property auctions, which involve county-owned properties sold via auction or direct sales. This offers a direct path to property ownership below market value.
• Focus on Affordable Homes: Property prices in Suffolk County are generally lower, making it ideal for fix-and-flip projects. Simple upgrades like fresh paint and new appliances can transform modest homes into inviting family residences.

Suffolk County Attractions and Economic Highlights

Popular Attractions

Suffolk County is home to family-friendly places like the Long Island Aquarium, the stunning Robert Moses State Park, and the famous Montauk Lighthouse. You’ll also find vineyards, golf courses, and beautiful spots by the water, making it a great place to live or visit.

Transportation Infrastructure

The county has good roads, trains, and airports, which makes it easy for everyone to get around.

Economic Development

Important industries like farming, technology, and tourism help the county grow and attract people.

Community Appeal

There’s plenty to do outdoors, lots of entertainment, and historical sites that make Suffolk County a welcoming place for families and investors.

FAQs About Tax Liens and Tax Deeds

Q: What is the difference between a tax lien and a tax deed?

A: A tax lien is a claim against a property for unpaid taxes, whereas a tax deed involves the actual sale of the property due to unpaid taxes.

Q: How long is the redemption period for tax liens in Suffolk County?

A: The redemption period is 12 months for most properties and 36 months for one, two, or three-family residences.

Q: What happens if a tax lien is not redeemed?

A: If not redeemed, the lienholder can initiate a foreclosure process to gain ownership of the property.

Useful Links

• Suffolk County Comptroller
• Suffolk Real Foreclosure Auction Site
• Tax Lien & Deed Mini Course

Need a Hand?

We’re here to help! Get our free Tax Lien & Deed Mini Course or book a call with us for a free customized Tax Lien & Deed investing plan. This can save you years of trial and error. Get It Here

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