Missouri is a decent state for tax lien certificate sales. Also, because of the way Missouri handles the sales, obtaining deed to the property is also possible. Here is a summary of information for tax sales:
Bidding Process
The bidder must be a resident of the state of Missouri; otherwise, a resident of the county in which the sale will occur must authorize the investor to bid. The minimum acceptable bid is the amount of taxes and sale expenses due for the property. There is no upper limit on the amount which can be bid, and the highest bidder wins.
Interest Rate
If the purchase is redeemed, the original investment will earn simple interest at the rate of 10% per annum. Any subsequent taxes that are paid by the investor will earn simple interest at the rate of 8% per annum. There is no interest paid on the overbid made at the sale, but the investor will get the overbid amount back if the purchase is redeemed.
Redemption Period
Missouri divides its properties into first, second, third and fourth offerings. First offerings, like second offerings, have a one-year redemption period; third offerings have a 90-day redemption period; and fourth offerings are essential deeds.
Missouri tax lien certificate auctions
County tax lien sales are the fourth Monday in August.
Missouri tax deed or tax foreclosure sales
Missouri combines its tax deed and tax lien certificates sales into one sale per year.
State Specific Information
Missouri is a decent tax sale state because the state combines tax lien and tax deed sales, giving bidders some interesting bidding possibilities and potential property ownership.
Foreclosure Real Estate Course
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