On October 26, 2023, Baltimore County, MD, is set to conduct a tax sale for properties with unpaid and delinquent property taxes. The local government aims to recover these outstanding taxes by selling real estate properties. Investors looking to profit from tax liens or back taxes can use this sale as a lucrative opportunity to make a profit.
LewisMcDaniels is here to offer valuable insights into the tax sale process in Baltimore County and explain why partnering with a Maryland tax sale attorney is crucial for your success. Read on for more details.
Understanding How Tax Sales Work
There are two types of tax sales — deed sales and tax liens. Baltimore County focuses on both. The local government auctions off these liens and deeds, which represent a legal claim on a property, to the highest bidders. Successful bidders are then responsible for settling the overdue taxes and associated fees. For liens, property owners must reimburse the lien holder to regain full ownership of their property.
Registering for the Bid
To participate as a bidder, you must first complete the pre-registration process at https://www.baltimorecountymd.gov/. Submit a comprehensive Tax Sale Bidder Registration Application and upload other documents such as:
- Collector’s Terms for the 2023 Tax Sale
- 2023 Tax Sale Internet Procedures
- Bidder Registration Form
- Remittance of the $100 registration fee
- Substitute for IRS Form W-9 form
The deadline for registration is 4:00 PM on the last Friday (October 20) before the sale. There will be no exceptions for late applications.
During the Bidding
All bids will be submitted via email starting at 9:00 AM. Any bids before will not be considered. If you happen to successfully secure a bid, it will remain in conditional acceptance until you fulfill the payment requirements.
Payment of Taxes Due and Other Interest and Penalties
Those who win a property during the auction must remit all the taxes, interests, and other penalties due on the day of the sale. This includes the high bid premium, if applicable. The premium is 20% of the total amount of the bid if the bid exceeds 40% of the property’s assessed value.
How a Maryland Tax Lien Attorney Can Provide Assistance
A tax sale is a complex legal procedure that comes with various potential pitfalls, which can lead to financial losses. One of the most common pitfalls is an invalid or void sale, which can occur due to transfer errors in the records, the property owner filing for bankruptcy before the sale, and other similar reasons.
A Maryland tax lien attorney — such as one from our team at LewisMcDaniels — is your safeguard against these issues. We meticulously monitor the entire process, ensure strict adherence to legal requirements, and offer additional legal services to help you maximize your return on investment.
Let’s Talk About Tax Sales!
For those who want to invest in the upcoming tax sale of Baltimore County, turn to LewisMcDaniels for expert legal counsel and assistance. We are your trusted Maryland tax sale attorneys, dedicated to assisting you in achieving substantial returns on your investment. Reach out to us today!
