Mayan Monk
Mar 20, 2008, 10:48 AM
Hello All,
I'm looking to start investing in delinquent property tax sales and delinquent property tax deed sales. I've done some research and found Michigan to be a very lucrative state as far as the amount of interest one would be able to collect from a tax sale. Upon further research I found out that as of 2006 Michigan no longer does tax sales but now does tax deed sales. Some of the research I found stated that the tax deed however might come with some encumbrances. What are these encumbrances if any and what is the difference between a tax deed sale Vs. a regular tax sale? Does it mean that I would not be able to charge interest on a tax deed sale as I would a regular tax sale? Where would I be able to get the amount of interest I would be able to charge in accordance with Michigan law?
Thank you all in advance.
I'm looking to start investing in delinquent property tax sales and delinquent property tax deed sales. I've done some research and found Michigan to be a very lucrative state as far as the amount of interest one would be able to collect from a tax sale. Upon further research I found out that as of 2006 Michigan no longer does tax sales but now does tax deed sales. Some of the research I found stated that the tax deed however might come with some encumbrances. What are these encumbrances if any and what is the difference between a tax deed sale Vs. a regular tax sale? Does it mean that I would not be able to charge interest on a tax deed sale as I would a regular tax sale? Where would I be able to get the amount of interest I would be able to charge in accordance with Michigan law?
Thank you all in advance.