tax liens over the counter

[Frank Windsor]

I was wondering if anyone knows of any place that I could buy Tax liens over the counter around the Kansas City Missouri area? I would also like to network with anyone interested in real estate investing.I am in Saint Joseph Missouri.

[haynesm]

Not sure what is going on. Have tried 3 times to post this reply. Maybe it will work this time.

Frank
Its possible to buy tax lien properties here in missouri "over the counter" after the 3rd or 4th offering (not sure just which one). Check with your county collector, they should be able to set you straight. I know our tax sales are mandated by the state and they have state rules but it seems like each county has a LOT of latitude in how they conduct land tax sales. I tried to buy a couple properties this way in august but someone else made a higher offer I guess. These property had not been bid on for a few years and after i made my offer it seems like 3 or 4 other people also made offers. Seemed kind of shady to me. I make an offer, and now all of a sudden several people are making offers. Perhaps the collector just did a better job of putting the word out???? Also, don't let a city's lien on a property for demolition purposes slow you down. Its just a lien like everyone else has. Bid on the property, notify all interested parties, and hope for the best. I am interested in your network offer. Let me know more.

[Frank Windsor]

I would be interested in getting with someone who is knowledgeable in real estate investing to start to get something going. I don't have a lot of money but I have the desire to work hard. I just can't seem to get anything going here so i'm assuming that i'm doing something wrong so I figure like the saying goes two heads are better than one.

[haynesm]

Frank
Don’t assume anything. Just realize that at the present moment things aren’t going as rapidly as you would like. Tax sale investing here in Missouri takes time. As you know, we only have a sale once a year, then you have to wait a year to see if you “get” the property. Unless, that is, if it is a third year offering, then you still have to wait 90 days.
In my case, when I go to a sale and bid on a property, if I am the high bidder, I collect my certificate from the county collector, take it home put it away in a file cabinet and forget about the property, the money and about anything else dealing with the property until the following May. Then I start doing the necessary “stuff”.
I’m not sure I would be called knowledgeable in real estate investing as I only deal with tax sale properties at this time. Reason. Like you I don’t have a lot of money. However, I would be willing to visit with you to help if I can. Let me know.

[Frank Windsor]

I would really appreciate that maybe we could figure something out.

[Bill H]

Do not know about "Over the Counter" tax certificates but do know that I was in the Stetson Hat Outlet Store in St Joseph on Stetson Road, Thursday week ago, and got myself two more John B Stetson Hats. One is the "Rancher" and the other is the "Merced" ..both first quality hats. Got several and have about worn out my current Black Merced.

We, my wife and I, go through St Joe several times per year (4 this year so far) in our travels from the place in MS to the place in Great Falls, MT.

Good Luck,
Bill H

[Bill H]

Just got curious and went and did some research on MO Tax Liens and this is my non-attorney, non-legal understanding os what they are saying.


Missouri Statutes:

Third offering of delinquent lands and lots, redemption--subsequent sale--collector's deed.

140.250. 1. Whenever any lands have been or shall hereafter be offered for sale for delinquent taxes, interest, penalty and costs by the collector of the proper county for any two successive years and no person shall have bid therefor a sum equal to the delinquent taxes thereon, interest, penalty and costs provided by law, then such county collector shall at the next regular tax sale of lands for delinquent taxes sell same to the highest bidder, and there shall be a ninety-day period of redemption from such sales as specified in section 140.405.

This say to me that you must wait until the next sale...no over the counter.


2. No certificate of purchase shall issue as to such sales, but the purchaser at such sales shall be entitled to the issuance and delivery of a collector's deed upon completion of title search action as specified in section 140.405.



3. If any lands or lots are not sold at such third offering, then the collector, in his discretion, need not again advertise or offer such lands or lots for sale more often* than once every five years after the third offering of such lands or lots, and such offering shall toll the operation of any applicable statute of limitations.

Again this says they do not have to advertise but will sell or offer to sell on an annual basis...no over the counter.

4. A purchaser at any sale subsequent to the third offering of any land or lots shall be entitled to the immediate issuance and delivery of a collector's deed and there shall be no period of redemption from such sales; provided, however, before any purchaser at a sale to which this section is applicable shall be entitled to a collector's deed it shall be the duty of the collector to demand, and the purchaser to pay, in addition to his bid, all taxes due and unpaid on such lands or lots that become due and payable on such lands or lots subsequent to the date of the taxes included in such advertisement and sale.

This says that after a sale subsequent to the third offering...it is yours...warts and all. Still no over the counter language.

5. In the event the real purchaser at any sale to which this section is applicable shall be the owner of the lands or lots purchased, or shall be obligated to pay the taxes for the nonpayment of which such lands or lots were sold, then no collector's deed shall issue to such purchaser, or to anyone acting for or on behalf of such purchaser, without payment to the collector of such additional amount as will discharge in full all delinquent taxes, penalty, interest and costs.

This just says that if you already own it...all you are doing is paying the back taxes and penalties and will not get another deed to it.

(RSMo 1939 § 11130, A.L. 1984 S.B. 707, A.L. 1998 S.B. 778)

Perhaps this will help....However keep in mind as others have said...most taxing jurisdictions seem to have their own interpretation of what they can do.

Go talk with the local tax collector and ask them what they will do for you.

Good LUck,
Bill H

[Frank Windsor]

Thanks for your help maybe the next time you're in st. joe you could look me up.

[AIR]

The only problem with over the counter liens is that they have been offered through 2 or 3 sales already. So these are the liens which are least desirable. I have been looking for almost a year now and haven't found anything worthwhile. I really think you need to get in on the first sale to get something good. Most of the stuff offered in the over the counter sales are not big enough to build or not accessible by a road.