|
Tax Lien Certificates - Tax Deed Sales
in Missouri MO
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.
Interest Rate
Ten percent on the taxes and penalties owed and then you can bid more based on what you would pay for the whole property.
You do not receive any interest on the overbid. Subsequent taxes paid earn you 8%, rather than 10%.
Redemption Period
1 year on first and second offerings and 90 days on third offerings.
Missouri Tax Lien Certificate Auctions
County tax lien sales are in August on the fourth Monday.
Missouri Tax Deed or Tax Foreclosure Sales
Missouri combines its tax deed and tax lien certificates sales into one sale per year. The City of St. Louis conducts its own tax deed sales. Jackson County conducts two tax deed sales, one for the eastern half and one for the western half.
Bidding Process
All tax sales are by competitive bid. However, unlike most states, the bidding process is for how much you would pay for the entire property and the bidding starts at taxes and penalties owed. You only earn interest on the amount of taxes owed. If the owner never redeems, you get the the whole property for your bid amount. This makes it possible in some cases to get entire properties for only the taxes owed.
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.
Visit this resource to learn more:
|
