Sat, Jul 04, 2009
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Deleware Sherrif/tax Sales HELP NEEDED! |
mbeli
5 Posts
Member Since: 06/16/2004
Newark, DE
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Posted: 21:12 on 08-30-2004
I wrote about a month or 2 ago asking how DE tax/sheriff sales work and got no response (mumble mumble mumble). I am in the New Castle area (been here about 2 years or so) and want to get into real estate starting with the Tax Sales which for me I feel would bring a higher return on investment that conventional means.
My question is are there "any" redemption period(s) here, if so how long? What are the mechanics of the sale if I win said property(s) ? What are the roadbocks or hurdles of buying at tax sales here?
Hidden cost/charges?
How long after sale would it be before I got a Title (insurable)?
PLEASE, "ANY"help in this State (DE) would be much appreciated!!!!
Thanks!!!
Mark B. 
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RonaldStarr
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Posted: 01:03 on 08-31-2004
mbeli--(DE)----------------
Have you searched the archives here for posts with the terms "DE" and "delaware?" If not, I recommend that you do so.
At the law library read the "anotated" state statutes on the collection of delinquent property taxes in DE. Go to county or municipality treasurer/tax collector websites and read what they have to say about tax sales in their jurisdiction.
I don't know the DE laws. And even if I did, it would take a long time to lay out what you can find elsewhere.
Do some searching on this site and googling on the internet to find the written materials on this topic.
Good Investing**************Ron Starr**************
[ Edited by RonaldStarr on Date 08/31/2004 ]
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Enshoku
1 Posts
Member Since: 10/13/2004
Newark, DE
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Posted: 05:58 on 10-15-2004
I currently reside in New Castle County. Unfortunately, you cannot buy tax lien certificates here. The auctions are for acquiring the deed for the property itself. You can find information regarding the process and redemption regulations at the following link:
http://www.delcode.state.de.us/title9/c022/sc02/
You can also find info at the county's main site as well.
I hope this helps.
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On 2004-08-30 21:12, mbeli wrote:
I wrote about a month or 2 ago asking how DE tax/sheriff sales work and got no response (mumble mumble mumble). I am in the New Castle area (been here about 2 years or so) and want to get into real estate starting with the Tax Sales which for me I feel would bring a higher return on investment that conventional means.
My question is are there "any" redemption period(s) here, if so how long? What are the mechanics of the sale if I win said property(s) ? What are the roadbocks or hurdles of buying at tax sales here?
Hidden cost/charges?
How long after sale would it be before I got a Title (insurable)?
PLEASE, "ANY"help in this State (DE) would be much appreciated!!!!
Thanks!!!
Mark B.
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mbeli
5 Posts
Member Since: 06/16/2004
Newark, DE
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Posted: 15:19 on 10-15-2004
Ehshoku, thanks Have you purchases any properties at the Sherriff's sales, if so what should I be on the lookout for?
\
From the link you sent it sounds as though propertys' bought at sherriff's sales are free and clear of all liens, encumbrances, back taxes etc except you have to wait for 60 days to petion the court for the deed, is that right? Is that a difficult process, how much more does that cost?
Also, are there any other legalities (environmental,zoning, codes etc etc) to be on the look out for?
Do you need the full purchase price or will the county/sherriff finance ?
Besides doing a physical inspection of said property(s) do you think it wise to do a title search "PRIOR" to auction/sale?
From your experience (if any) do properties go for pretty cheap if so, can you give some ballpark figures?
I really want to jump in and purchase property(s) thru this venue (seems to be the most cost effective way) for cashflow purposes (rentals) but am a lil nervous about it.
any more help/advice, you could give would be greatly appreciated!!!!
Thanks!!!
Mark B
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