| If you're a new tax sale investor who's already | | | | government. That means if the owners don't come in |
| attended an auction, you probably noticed something | | | | to collect it in "x" amount of time (varies state by |
| fairly obvious: that many auctions' opening bid started | | | | state), then the government seizes it and the owner's |
| with the amount of taxes owed, but then were bid | | | | out of luck. You saw what kind of overages were |
| much, much higher. (You probably also were | | | | created at that tax auction - overages in the |
| wondering how to avoid ever attending the tax auction | | | | $5,000-$100,000 are the rule, not the exception. |
| again!) Did you stop to wonder what happens to that | | | | Needless to say, these unfortunately owners certainly |
| extra money? Collecting tax sale overages is the | | | | could use that cash. Sadly, it's virtually 100% |
| secret weapon of a few smart tax sale investors. | | | | guaranteed they'll never find out about it unless a |
| You can do it too. | | | | money finder finds them and calls them. That's where |
| What is collecting tax sale overages? Basically, this | | | | you come in. Since these funds aren't governed by |
| refers to acting as a "finder" for people's lost tax sale | | | | finder's fee caps (due to a legal loophole), money |
| overages. Many delinquent owners leave that money | | | | finders charge 30-50% for their information and |
| behind, not realizing they are are entitled to it. Another | | | | assistance in collecting the funds. |
| vast group of people are heirs. In many cases, a | | | | It's a win-win situation for both these grateful owners, |
| property is left out of the probate case and ends up | | | | and the guy collecting tax sale overages. The owners |
| going to tax auction. The overages are due to the | | | | get a windfall they didn't expect, the money finder is |
| heirs, but they have even less of a clue than the | | | | rewarded adequately for his time and specialized |
| people who lost their own property to tax auction. | | | | knowledge, and the government doesn't get to keep |
| The really bad thing is that this money escheats to the | | | | $5,000-$100,000 it didn't earn. |