Tax sales in Maryland are a little different than other online tax sales. In Maryland, premium is paid for tax liens but not all the premium needs to be paid at the tax sale.
Only a portion of the premium needs to be paid on the day of the tax sale along with the lien amount. The rest of the premium must be paid unless the lien does not redeem and the property is then foreclosed on. There is no interest on the premium but the premium is returned if the lien redeems. The redemption period is 6 months and the interest rate is 18% per annum. The high interest rate and the fact that the entire premium is not paid at the sale, makes this tax sale more attractive to investors than other online tax sales where premium is bid for liens.
Another thing that makes the City of Baltimore tax lien sale good for investors is that the city does not allow multiple bid numbers, or sub accounts. Each investor has only one bid number, so their bid only counts once. Many of the bid down states (states where the interest rate is bid down at the sale) allow investors to have sub accounts and put in multiple bids on the same property. This gives the institutional investors an advantage at the tax sale, since they have many tax ID numbers they can enter to get different sub accounts, they get more bids. If there are many bids at the same interest rate they have a better chance of being randomly chosen as the winner. In the Baltimore sale because only one bid is allowed per bidder, the playing field is somewhat leveled.
The City of Baltimore tax sale bid site is www.BidBaltimore.com. In order to bid in this sale, participants must complete the online registration process, which includes paying a non-refundable registration fee of $500. In order to bid at the sale, registration must be complete by Wednesday, May 11. Although bidding starts as soon as your registration is completed, the bids are not counted until May 16th, and closes on Thursday, May 19th.
"The City of Baltimore tax sale was the topic of my last webinar training for members of Tax Lien Lady's Members Area.", says Joanne Musa, the Tax Lien Lady. "This is not just a webinar where I show you some of the properties in the sale. This is a lesson where I show you how to register, what the bidding process is and how to do your due diligence on the properties in the Baltimore tax sale. The webinar was recorded and posted on my member site."
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Joanne Musa, the "Tax Lien Lady," has helped new investors all over the world explode their profits using safe, high yielding, real estate secured tax lien certificates. To receive your FREE Tax Lien Investing Kit, that has helped thousands of investors, just like you learn how to build their own profitable portfolio of tax lien certificates or tax deeds go to www.TaxLienInvesting Kit.com.