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Castle Rock [Change Location]

Investors welcome at Nov. 12 county tax lien sale

Article Contributed on: 10/21/2009 9:02:32 PM

The annual Douglas County Tax Lien Sale will be held on Thursday, Nov. 12 beginning with registration at 7:30 a.m. in the Douglas County Philip S. Miller Hearing Room, 100 Third St. in Castle Rock. Bidding begins at 8:30 a.m. Douglas County's Tax Lien Sale offers investors the opportunity to purchase delinquent tax liens at a 10 percent interest rate.

All properties available for bidding at the Tax Lien Sale are those properties that have 2008 or prior year property taxes owed to Douglas County. As a result of poor economic conditions, a higher number of property taxes are expected to be auctioned off to investors this year than in years past.

"Purchasing delinquent tax liens can be risky, but also can be profitable," said Douglas County Treasurer Sharon Jones.

An individual or a business can bid on the delinquent taxes at the sale. If a premium is offered, the highest bidder will be awarded the tax lien. The lien holder is responsible for paying Douglas County all taxes including advertising, penalty and any premiums bid. Premium bids do not earn the 10 percent interest.

The local newspapers will have an advertisement listing the delinquent properties in preparation for the annual Tax Lien Sale. An updated list of delinquent properties will be available on the Douglas County Treasurer's Web site at www.douglas.co.us/treasurer/Tax_Lien_Sale_Information.html. Property owners have until Noon on Tuesday, Nov. 10, the last working day before the Sale, to pay their taxes.

For more information on the Tax Lien Sale, please visit www.douglas.co.us/treasurer/Tax_Lien_Sale_Information.html or call the Treasurer's Office at 303.660.7455.

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David Davis wrote on 11/9/2009 @ 5:02:32 AM

I have been in many tax lien sales in the past few years and i do want to highlight some potential pitfalls. For instance the premium bids need to be clarified, you won't get any money for that at all. So your total ROI could be single digits if you overbid. also please do your due diligence because you may find properties that will never get paid or have bankruptcies on them... if you are a beginner, please watch an auction first before jumping into it. or invest in a cheap book before you make a huge mistake. some of the best books for beginners is the Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days by Don Sausa or profit in tax liens by loftis.
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