When Is the Next Lake County Indiana Tax Sale?
Lake County, Indiana, holds tax sales on a regular basis to recover delinquent property taxes. These tax sales offer an opportunity for investors to purchase properties at a fraction of their market value. If you are interested in participating in the next Lake County Indiana tax sale, this article will provide you with all the information you need to know.
Lake County Indiana Tax Sale Schedule:
The exact dates for the next Lake County Indiana tax sale are determined by the County Treasurer’s office. Typically, tax sales are held once or twice a year. It is recommended to visit the Lake County Treasurer’s website or contact their office to get the most up-to-date information on the next tax sale.
Frequently Asked Questions (FAQs):
1. What is a tax sale?
A tax sale is a public auction where properties with delinquent taxes are sold to recover the outstanding tax amounts.
2. How can I participate in the tax sale?
To participate in the tax sale, you must register as a bidder with the Lake County Treasurer’s office.
3. Do I need to be present at the auction?
Yes, bidders are required to be present at the tax sale auction to place their bids.
4. Can I bid online?
No, currently, Lake County Indiana tax sales are conducted in-person only.
5. How are properties selected for the tax sale?
Properties with delinquent taxes that have not been paid for a specified period are eligible for the tax sale.
6. Are there any prerequisites for participating in the tax sale?
Bidders must be at least 18 years old and have the financial means to pay for the properties they purchase.
7. What happens to the properties that don’t sell at the tax sale?
Properties that do not sell at the tax sale become eligible for the county’s subsequent tax sale or may be offered as a scavenger sale.
8. Can I inspect the properties before the tax sale?
Yes, interested bidders can arrange to inspect the properties before the tax sale. Contact the Lake County Assessor’s office for more information.
9. What happens after I successfully bid on a property?
After winning a bid, you must pay the full purchase price within a specified timeframe. Failure to do so may result in forfeiting the property and losing your bid deposit.
10. Are there any liens on the properties sold at the tax sale?
Properties sold at the tax sale may have outstanding liens or mortgages, which the bidder assumes. It is recommended to conduct thorough due diligence before bidding.
11. Can I finance the purchase of a property from the tax sale?
No, all purchases must be made with cash, certified funds, or money orders.
12. How do I obtain the deed for the property I purchased?
Once the full payment is made, the Lake County Treasurer’s office will issue a tax sale certificate. After a specified redemption period, if the property is not redeemed by the owner, the bidder can apply for a tax deed.
Conclusion:
The next Lake County Indiana tax sale provides an excellent opportunity for investors to acquire properties at a significant discount. To participate in the tax sale, you must register as a bidder with the Lake County Treasurer’s office. Ensure you conduct thorough due diligence and have the necessary funds to complete the purchase if you win a bid. Remember to visit the Lake County Treasurer’s website or contact their office for the most up-to-date information on the next tax sale.