Lots of people are asking how to claim tax sale overages, and for good reason.

How to Claim Tax Sale Overages?

It's a business that can make you serious money while helping people who've lost their homes.

And the best part is you don't need a lot of cash to get started.

So, grab a cup of coffee, sit back, and let me show you how to turn tax sale overages into your own personal goldmine.

What Are Tax Sale Overages?

Tax sale overages happen when a property is sold at a tax foreclosure auction for more than the taxes owed. 

That extra money is called an overage. It belongs to the former property owner, but most of the time, they don't even know it exists. That's where we come in.

Two Ways to Claim Overages

There are two primary methods for claiming tax sale overages, depending on the state you're working in:

  1. Administrative Claim Method
  2. Court System Method

Let's explore each of these in detail.

Method #1: Administrative Claims

This is the most common way. 

You fill out a form from the agency holding the money. It's pretty simple. 

All you need is basic information, such as the property address and the name of the former owner. Most of this information is on the list of overages you'll learn to get.

You turn in the form with an ID. The agency checks it over and processes the claim.

They make sure all the taxes were paid from the sale money.

This usually takes 3 to 5 months. Don't promise people it'll be faster. If it comes through quicker, they'll be happy. If it takes longer, they'll be frustrated.

Method #2: Court System Claims

Some places use the court system, but it's not as complicated as it sounds. Here's what happens.

Your lawyer files a petition. It's just a document saying there's money owed to your client.

The court reviews it, schedules a hearing (usually about 60 days later), and, if all goes well, signs an order and writes a check.

For this method, budget about $1,800 to $2,000 for legal costs. You'll get this back when the claim goes through, but you must have it upfront.

Why This Business is Booming

A study by JP Morgan Chase found that about 3,000 properties are sold at tax sales every day in America. This means over $13 million flows into the system daily, with a couple million in overages.

That's a lot of people who have lost their homes and don't know there's money waiting for them. That's where you come in.

Who Should Do This Business?

This business is great if you want to help people and make good money doing it. 

You need to be okay with making phone calls and dealing with some skepticism. But if you can handle that, you can do really well.

The best part is you don't need a lot of money to start. Unlike house flipping, which is risky right now with falling real estate prices, you don't need to buy properties or get mortgages. 

All you need is a phone, internet, and the willingness to learn and work.

Final Thoughts

The tax sale overage business is a great opportunity. You can make good money and really help people who've been hit hard financially.

It's not a get-rich-quick scheme. It's a real business that takes work. But it can be incredibly rewarding if you're willing to put in the effort.

So, are you ready to get started in the tax sale overage business? It could be your ticket to financial freedom while making a real difference in people's lives. That's what I call a win-win.

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