If you’re looking to invest in tax liens, St. Mary’s County, Maryland, offers a great opportunity. Here’s everything you need to know about the process, including important details and helpful links.
St. Mary’s County, Maryland, Tax Lien Sale is a yearly event offering the chance to earn a 6% annual return on your investment. Located in a growing tech hub, this sale allows investors to purchase liens on properties with unpaid taxes, providing a low-cost entry into real estate investment.
Understanding Tax Lien Certificates
A tax lien certificate is a legal claim against a property for unpaid property taxes. Investors purchase these liens at auction. If the property owner redeems the lien by paying the overdue taxes plus interest, the investor earns a return. If the owner does not redeem, the investor can initiate foreclosure and potentially acquire the property.
Steps to Start Tax Lien Investing
Research and Understand Local Laws:
It’s crucial to understand the legal framework for tax lien sales in Maryland. Each county, including St. Mary’s, follows state laws but may have specific regulations.
Research Thoroughly: Ensure the property is worth the investment by checking for existing liens, legal issues, and the physical condition of the property.
Understand Risks: Buying tax liens can carry risks such as properties in poor condition or complex legal issues.
Legal Assistance: Consider hiring a Maryland tax sale attorney to navigate the foreclosure process if the property owner does not redeem the lien.
It’s a claim against a property for unpaid taxes. If the owner redeems, you earn interest; if not, you can foreclose.
How do I register for the auction?
Registration is required online through RealAuction. Visit the Auction Site for more details.
What happens if the property owner redeems the lien?
You get your investment back plus 6% interest.
What if the property owner does not redeem the lien?
You can initiate foreclosure after six months to potentially acquire the property.
Investing in tax liens in St. Mary’s County can be profitable if approached with due diligence and a clear understanding of the process and risks involved. For more detailed guidance and assistance, consider reaching out to a tax sale attorney or the county treasurer’s office. If you need help with tax lien investing, Book a call or explore our free resources for expert advice.
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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
St. Mary’s County
St. Mary’s County, Maryland Tax Lien Sale: A Guide
If you’re looking to invest in tax liens, St. Mary’s County, Maryland, offers a great opportunity. Here’s everything you need to know about the process, including important details and helpful links.
St. Mary’s County, Maryland, Tax Lien Sale is a yearly event offering the chance to earn a 6% annual return on your investment. Located in a growing tech hub, this sale allows investors to purchase liens on properties with unpaid taxes, providing a low-cost entry into real estate investment.
Understanding Tax Lien Certificates
A tax lien certificate is a legal claim against a property for unpaid property taxes. Investors purchase these liens at auction. If the property owner redeems the lien by paying the overdue taxes plus interest, the investor earns a return. If the owner does not redeem, the investor can initiate foreclosure and potentially acquire the property.
Steps to Start Tax Lien Investing
Research and Understand Local Laws:
It’s crucial to understand the legal framework for tax lien sales in Maryland. Each county, including St. Mary’s, follows state laws but may have specific regulations.
Visit the Local Treasurer’s Website:
For St. Mary’s County Tax Sale Information, visit the St. Mary’s County Treasurer’s Office
Additional details can be found on the St. Mary’s County Auction Site
Check the Auction Site:
Properties are listed in local newspapers four weeks before the auction, allowing time for due diligence.
Auctions are conducted online, and registration is required. Payments are directly debited via RealAuction.
Read the Details About Tax Liens:
Understanding the sale schedule, parcel inquiry, and other essential details is important. More information can be found on the county website.
Contact the County Office:
For more information or specific questions, contact the St. Mary’s County Treasurer’s Office directly.
Important Details
For further details, visit the Tax Sale Auction General Information page.
Pro Tips
Useful Links
FAQs
What is a tax lien certificate?
It’s a claim against a property for unpaid taxes. If the owner redeems, you earn interest; if not, you can foreclose.
How do I register for the auction?
Registration is required online through RealAuction. Visit the Auction Site for more details.
What happens if the property owner redeems the lien?
You get your investment back plus 6% interest.
What if the property owner does not redeem the lien?
You can initiate foreclosure after six months to potentially acquire the property.
Investing in tax liens in St. Mary’s County can be profitable if approached with due diligence and a clear understanding of the process and risks involved. For more detailed guidance and assistance, consider reaching out to a tax sale attorney or the county treasurer’s office. If you need help with tax lien investing, Book a call or explore our free resources for expert advice.
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.