What’s new with the Michigan tax sales since 2020?
These tax deed sales usually start at the end of July or the beginning of August. Last year, because of the COVID shut down, the auctions were postponed until September and October. But this year they are going ahead at the normal time. Most of these tax sales will happen this year in August. There are online tax deed auctions going on almost every weekday in August starting the first Monday of the month – August 2.
Some of the changes from 2020 will remain in effect this year. Although a lot of these tax deed sales have been online before last year, they were also conducted as live auctions. This year, as in 2020, the auctions will be online only with no live component, and even some counties who have not had their tax sales online before 2020 will be online this year.
Some of the Michigan counties make it very easy for investors to bid online. They post the property information, along with pictures for each parcel in the sale on the online web site. A few counties give descriptions of the properties in the sale, with the condition of the property and whether it is occupied or vacant.
Most of these tax sales will open for online registration in July. The sales will conclude from August 2 this year through September 3, according to which section of the state they are in. You can find a calendar with the county sales listed on www.tax-sale.info. You’ll also find all the information you need to register and bid at the auction.
You can register to participate in the auction for free, but you must use a credit card to put up a deposit in order to bid. Your card will not be charged unless you are the winning bidder for one of the properties in the auction.
Buyer Beware!
What you need to remember if you’re bidding at this sale for the first time is that many of these properties have been vacant for a long time before they’re sold in a tax sale. They are distressed properties. Some of them have been trashed by the former occupants. And if you win a bid on a property that is occupied, it’s up to you to evict the occupants! Even if the house looks like it’s in good shape, there’s only so much you can tell from pictures. If the house has been vacant through the winter, it’s likely to have water damage and broken pipes, and will need a lot of plumbing repair and a new water heater.
You’ll also want to be particular about where you buy. There are hot and cold markets in Michigan. Some markets are very hot, and may be very competitive. Cold markets will be less competitive, but property will be tougher to sell there. So check out the areas before you bid!
Want to learn more about the upcoming Michigan Tax Sales?
Last year I hosted a 2 hour live virtual workshop on the Michigan Tax Deed Sales. In this workshop, I demonstrated how to get all the information you need to participate in the Michigan tax sales. I let you know how to find out where and when these tax sales take place, which are the better counties to invest in, and what you need to watch out for. You can purchase the recorded workshop which includes the recording of the live training, a workbook, and a copy of the slides for the workshop, plus a due diligence checklist just for the Michigan tax sales! And registration for the workshop includes a one month trial in the Tax Lien Profits Accelerator™.
Find out more about the Michigan Online Deed Sales 2020 Workshop at https://www.taxlienlady.com/michigan-online-tax-sales-2020-virtual-workshop-2/
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