Mark your calendars for April 19, 2024, as Calvert County, Maryland prepares to hold its annual Tax Sale. This event presents a unique chance for investors to acquire properties at competitive prices while also assisting local governments in recouping delinquent taxes and fees.
At LewisMcDaniels, our team of experienced Maryland tax sale attorneys understands the intricacies of these events and can guide you through the process to ensure a successful investment. Let’s discuss how a tax sale works and learn how we can help.
The Basics of a Tax Sale
A tax sale, also known as a tax lien sale, occurs when properties become delinquent in paying real estate taxes or other associated fees, such as water and sewer bills. In Calvert County, properties that are two years delinquent are subject to being auctioned off to the highest bidder at the annual Tax Sale. You can find the list of eligible properties in Voice and Southern Maryland Newspapers on March 19, 2024.
During the auction, bidders can purchase tax liens on properties. These represent the right to collect the overdue taxes, fees, and any associated interest. Successful bidders receive a Certificate of Sale, granting them the potential to obtain the property title after a specified redemption period.
Joining the Tax Sale: Steps To Take
If you’re interested in participating in the Calvert County Tax Sale, here are the steps you’ll need to take.
1. Registration
Before the auction, prospective bidders must complete a registration form. This step ensures that all participants are accounted for and eligible to bid on properties. As of writing, the local government hasn’t posted a registration form yet. Visit their website regularly to check and download the document as soon as it’s available.
2. Bidding and Auction
On the day of the Tax Sale, registered bidders are required to gather at the Circuit Court Courthouse to participate in the auction. Bids are placed on properties, with the highest bidder securing the tax lien.
3. Certificate of Sale
Upon winning a bid, successful bidders will receive a Certificate of Sale, marking the beginning of the redemption period. This document grants them the right to initiate legal proceedings to obtain the property title if the delinquent taxes and fees are not redeemed by the property owner within the specified timeframe. In this case, it’s six months.
How a Maryland Tax Lien Attorney Can Help
Participating in a tax sale can be daunting due to its complex legal nature and potential financial risks. This area of expertise is where a Maryland tax lien attorney can offer invaluable assistance.
Legal Expertise
Tax sales involve intricate legal procedures and regulations, but we possess the expertise to navigate these complexities efficiently. Our team is well-versed in relevant laws and can ensure that your interests are protected throughout the process.
Due Diligence
Conducting thorough due diligence is crucial before participating in a tax sale. A tax lien attorney can assist in researching properties, identifying potential risks, and evaluating the investment potential. This comprehensive analysis minimizes the likelihood of encountering unforeseen complications later on.
Post-Sale Assistance
The process doesn’t end once you acquire a tax lien. We can continue to provide support during the redemption period and beyond, ensuring that you follow the necessary steps to obtain the property title and maximize your return on investment.
Contact a Tax Lien Attorney in Maryland
The Calvert County Tax Sale offers investors a unique chance to acquire properties at below-market prices. With the guidance of LewisMcDaniels’ experienced Maryland tax sale attorneys, you can confidently participate in this event and potentially secure lucrative investment opportunities. Reach out to us to discuss your plans.
