Do you have to pay finder fee for tax sale overage?
Do you have to pay finder fee for tax sale overage?
They do NOT tell the former owner this equity is due to them because if it’s not collected, the government gets to keep that money after a fixed amount of time. The reason why you should care is because you can get paid a finder’s fee of 30-40% of whatever the overage is for connecting people to their unclaimed money.
Can you make money with tax sale overages?
The overages market is a great place for a real estate newbie to begin their career. These finder’s fees add up to a very nice income for anyone putting a full-time effort. Start with tax sale overages, and then work your way up to more complicated funds like mortgage foreclosure overages and unclaimed estates.
Where can I find a list of overages?
To be clear, you can work in any county within a state. Counties with higher populations will likely have more overages just because they have more tax sales. Thus higher-population counties are likely to have more overages. That being said, go and get lists from any county within these states and you are likely to find overages to work.
Which is easier tax sale overages or foreclosure overages?
This is the easiest tip of all – just work tax sale overages – they’re easier to work than other types of claims you might make – such as mortgage foreclosure overages. Mortgage foreclosure overages are more complex because you sometimes have to file a petition with a court to get the money (not too expensive but an extra step).
They do NOT tell the former owner this equity is due to them because if it’s not collected, the government gets to keep that money after a fixed amount of time. The reason why you should care is because you can get paid a finder’s fee of 30-40% of whatever the overage is for connecting people to their unclaimed money.
What’s the average overage for a tax sale?
Secure your fee – get the check from the county and collect your fee from it (usually about 30-40%) Overages can range anywhere from $5,000 to $100,000. Bob told me the other day that the largest overage he’s seen since doing this is 1.3 million dollars.
How to start a tax sale overage fund?
Start with tax sale overages, and then work your way up to more complicated funds like mortgage foreclosure overages and unclaimed estates. By the time you’ve got a few tax cases under your belt, you’ll feel like an old pro.
To be clear, you can work in any county within a state. Counties with higher populations will likely have more overages just because they have more tax sales. Thus higher-population counties are likely to have more overages. That being said, go and get lists from any county within these states and you are likely to find overages to work.