Often overlooked in the real estate investment field is profit from tax deed sale overage lists. After a tax delinquent property goes up for auction, any purchase amount over the taxes, penalties, and fees due is an “overage”. In due time, this money is returned to owner of record at time of auction. This is a perfect opportunity for an unclaimed money finder.
Profit from tax deed sale overage lists is another avenue to pursue to create more income from real estate investment leads. Many times the owner of record has moved, their forwarding address expired at the post office. The overage amount is returned to the county. Hence, the opportunity to create some additional income from these leads. Certainly, the county is not going to put the effort into finding the rightful owner. Left unclaimed, the money returns to county ownership after a brief period of time. However, each state is different on their regulations of this field. Be careful to do your own due diligence and figure out your own state requirements regarding unclaimed money.
After research, you determine profit from tax deed sale overage list is your niche, begin searching for leads. Where do you begin? Each time a county holds a tax deed auction, you must contact them directly for auction results. At which time, they will send you a list of properties sold and what amount, if any, is due the tax delinquent property owner. In turn, you pursue the real estate investment lead directly.
Profit from Tax Deed Sale Overage Lists is not Quick Money
From the beginning, your goal is having the lead sign a contract, in front of a notary public, giving you the right to claim their money. Additionally, not all states allow an unclaimed money finder to charge a fee for their services. Research this avenue of investment thoroughly, it takes time and effort, this is not fast money. Furthermore, unclaimed money paperwork varies by state.
As soon as ownership is determined, the overage check is mailed to you in approximately 10-15 business days. Be honest with your client, always state fees for your service up front. If you need help creating a lead list from a county overage list, you may contact me at firstname.lastname@example.org.
To learn more about tax overages: Visit the REtipster blog