Know the Secret! Properties 40-90% Less Market Value- Brunswick County – North Carolina Tax Deed Investing
Imagine owning a property that costs a fraction of its market value. That’s exactly what can happen at Brunswick County, North Carolina’s Tax Foreclosure Sales! These sales offer properties multiple times a year at deep discounts. Let’s dive into the process and how you can take advantage of these opportunities.
Understanding Tax Lien Certificates and Tax Deeds
Tax lien certificates and tax deeds represent different ways to invest in properties due to unpaid taxes. With tax lien certificates, you pay the taxes owed and get a lien on the property. If the owner doesn’t pay you back with interest, you can foreclose and take ownership. With tax deeds, you buy the property outright at a tax foreclosure auction. The process is straightforward but requires careful research.
Steps to Start Tax Deed Investing
Research and Understand Local Laws
Knowing the legal framework in Brunswick County is crucial. Familiarize yourself with the county’s procedures and requirements for tax sales.
Visit the Local Treasurer’s Website
Check the Brunswick County Tax Foreclosures page for detailed information on upcoming sales, regulations, and the properties available.
Check the Auction Site
All auctions are held at the Brunswick County Courthouse in Bolivia, NC. It’s important to be present at the auction to place your bids.
Read the Details about Tax Liens or Tax Deeds
Understanding the sale schedule, parcel inquiry, and other essential details can be found on the Brunswick County Tax Office page. This includes how to prepare for the auction and what happens if you win or default on a bid.
Contact the County Office
For any additional inquiries, you can contact the Brunswick County Tax Office directly. Their office is located at 30 Government Center Drive, Bolivia, NC, and they can be reached at (910) 253-2829.
Do Your Homework: Investigate the property thoroughly before bidding.
Know the Rules: Familiarize yourself with the bidding process and the upset bid period.
Prepare Financially: Have the required deposit ready and ensure you can pay the full amount promptly if you win.
FAQs
Q: What is the upset bid period?
A: A 10-day period follows the auction, during which bidders can place higher bids. The new bid must exceed the previous bid by 5% or $750, whichever is greater.
Q: What happens if I default on my winning bid?
A: You forfeit your deposit and may owe the county the difference if the property sells for less than your winning bid. The county may also bar you from future auctions.
Q: Are properties sold ‘as is’?
A: Yes, all properties are sold in ‘as is’ condition. It’s crucial to research thoroughly before bidding.
For more guidance on tax lien investing, book a call and check out our free resources now! Happy investing!
By using this comprehensive guide, you can navigate Brunswick County’s tax foreclosure sales with confidence and potentially secure property at an incredible value.
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Learn how to get 18-36% returns on your investment and buy property for as little as $500 with tax lien and tax deeds.
Lien Sales Annually Oct – Nov. Deed Sales Are Held on a Needed Basis and Only on Properties That Were Not Sold at Lien Sale and Were Held by the County for 18 Months
10% Penalty if Redeemed in 1st 6 Months, 15% Penalty if Redeemed in Months 6-12, but Only on the Taxes and Fees Not the Overbid. Overbid Amount Receives 5% Interest.
Redemption Period:
1 Year if Sold at County Sale, Liens Not Sold at County Sale Are Certified to Commissioner and Sold in “Commissioner’s Certificate Sale” With 120 Day Redemption Period
Online Auction:
Yes
Over the Counter:
No but There Is a Second Auction Called a Commissioners Certificate Auction With a Shorter Redemption Period of 120 Days
25% Penalty Per 6 Months for Non Homestead or Special Land Use Properties. If 2 Yr Redemption Period Applies 25% for 1st Year and 50% Penalty for 2nd Year
Redemption Period:
6 Months for Most Properties. 2 Years for Homestead and Special Land Use Properties
Online Auction:
The Vast Majority No, but in 2019, Two Counties (Victoria & Orange)
“Upset Sale” First With Premium Bidding Which Does Not Extinguish Other Liens, Followed by “Judicial Sale” Where All Liens With the Exception of Irs Liens Are Extinguished
Frequency:
Annually Throughout the Year. Upset Sales Typically Held in the Fall. Judicial Sale Typically in the Spring but Could Be Anytime After the Upset Sale.
Interest Rate / Penalty:
N/A
Redemption Period:
N/A
Online Auction:
Very Few
Over the Counter:
Yes Through “Repository” List With County Acceptance
Brunswick County
Know the Secret! Properties 40-90% Less Market Value- Brunswick County – North Carolina Tax Deed Investing
Imagine owning a property that costs a fraction of its market value. That’s exactly what can happen at Brunswick County, North Carolina’s Tax Foreclosure Sales! These sales offer properties multiple times a year at deep discounts. Let’s dive into the process and how you can take advantage of these opportunities.
Understanding Tax Lien Certificates and Tax Deeds
Tax lien certificates and tax deeds represent different ways to invest in properties due to unpaid taxes. With tax lien certificates, you pay the taxes owed and get a lien on the property. If the owner doesn’t pay you back with interest, you can foreclose and take ownership. With tax deeds, you buy the property outright at a tax foreclosure auction. The process is straightforward but requires careful research.
Steps to Start Tax Deed Investing
Research and Understand Local Laws
Knowing the legal framework in Brunswick County is crucial. Familiarize yourself with the county’s procedures and requirements for tax sales.
Visit the Local Treasurer’s Website
Check the Brunswick County Tax Foreclosures page for detailed information on upcoming sales, regulations, and the properties available.
Check the Auction Site
All auctions are held at the Brunswick County Courthouse in Bolivia, NC. It’s important to be present at the auction to place your bids.
Read the Details about Tax Liens or Tax Deeds
Understanding the sale schedule, parcel inquiry, and other essential details can be found on the Brunswick County Tax Office page. This includes how to prepare for the auction and what happens if you win or default on a bid.
Contact the County Office
For any additional inquiries, you can contact the Brunswick County Tax Office directly. Their office is located at 30 Government Center Drive, Bolivia, NC, and they can be reached at (910) 253-2829.
Important Details
Here’s a quick reference table with the essential details for Brunswick County tax deed sales:
Pro Tips
FAQs
Q: What is the upset bid period?
A: A 10-day period follows the auction, during which bidders can place higher bids. The new bid must exceed the previous bid by 5% or $750, whichever is greater.
Q: What happens if I default on my winning bid?
A: You forfeit your deposit and may owe the county the difference if the property sells for less than your winning bid. The county may also bar you from future auctions.
Q: Are properties sold ‘as is’?
A: Yes, all properties are sold in ‘as is’ condition. It’s crucial to research thoroughly before bidding.
Useful Links
Need a Hand?
For more guidance on tax lien investing, book a call and check out our free resources now! Happy investing!
By using this comprehensive guide, you can navigate Brunswick County’s tax foreclosure sales with confidence and potentially secure property at an incredible value.
Sign up or log in to view the full content.
Join Us
Learn how to get 18-36% returns on your investment and buy property for as little as $500 with tax lien and tax deeds.