What Are The Best States For Tax Sale Overages?
It may sound like an obvious answer, but the best states for tax sale overages are ones that actually have them
. Did you know that in about half of the states in the U.S., when more is bid at tax sale than is owed in back taxes, the overage escheats immediately to the government? In the rest, the overages are held for at the very least six months for the owner to collect. A few states hold these overages indefinitely.
Other than that, there really are no "best states for tax sale overages." Customs, restrictions, and accessibility to records vary county by county, state by state. Some states, such as Arizona, Texas, and North Carolina, have limits on what you can charge as a finder's fee. Florida also requires certain credentials, in some cases. However, since you don't have to live in the state you're working, if you're from Arizona, Texas, Florida, or North Carolina, don't fret.
When you go to choose a state to work in, examine the state's code carefully. What restrictions do they have on money finders? How long are the overages held before they escheat? What kind of access does the public have to records of these funds? Can you communicate by email? Do they legally have to send you records by email? How long do they have to respond to public records requests? These are all questions that will help you determine which are the best states for tax sale overages for you personally.
Some states make it especially hard to find records, and owner information. Before you decide that those aren't the best states for overages, consider this: if the states are making it hard to work, how many other people do you think put in the time and effort to work there? If you are persistent, you'll often find that hard states to work are the best, because of all the untouched overages you'll find there.
by: Maggie Dawson
Can You Make Money Buying Tax Deeds To Properties? What Is Deed Grabbing? How To Get A Tax Sale Property Without Attending The Auction What Happens To The Surplus Due When Property Is Lost To Tax Sale? An Efficient Understanding of the IRS Tax Advice When is the Perfect Time for Your Tax & Wealth Planning? Delinquent Tax Sale: How is it Affects You Bookkeeping Solutions - Why you need to keep Tax Invoices! Tax Relief: Find Out If A Tax Relief Program Is Right For You! Tax-Relief: Is a Tax Relief Program Right For You? Finding One-of-a-kind Nfl Jerseys For Your Interest Follow these steps to prevent tax mistakes for investors Save money on income taxes by reducing them QNUPS And Taxes