Expert: Dick Dennis - 9/8/2007

Question
Hi, I have a question regarding tax deliquent properties. I have been very interested in these properties but have no clue on how the process works and i am reluctant to just get in it and try. I live in Oklahoma and i recently found a public notice in a local newspaper advertising a bunch of properties that are tax delinquent. The sale date is for Oct. 1 at the court house. I guess my question is how does the process work when going to buy these properties and are they yours when you pay the back taxes? Also is there a website that i can turn to to read up on these purchases? You help would be very appreciated.
Thanks
Anthony

Answer
After you get the addresses of the properties from the local tax assessor, you go and inspect them to see what their values should be. You will compare their market value. Those that are of interest you go to find out what the delinquent taxes are. You will need a pocket full of money or a bank check to show them. Local and county taxes are first in seniority, so there will be no other liens on those properties. Just pay the taxes and the properties are yours. However, if those properties were worth anything, if there were any mortgages on them, the mortgagee would have paid off those delinquent taxes long ago. So, that's why you need to see what the market values are. Ih most cases, you will probably find that most of those properties are vacant lots stuck out in the boonies somewhere. Go online and punch in tax delinquent properties and look around and see which one helps you the most, especially in OK. I wish you well.

Dick Dennis       dixiedee13@verizon.net