Overages

...are you trying to do?

A real estate tax overage occurs when more is bid at tax sale auction than the tax delinquent owner owed at tax sale. The "overage" is that amount of money, also referred to as a tax sale surplus, overbid, excess proceeds, surplus proceeds, and even "overplus" in one state. You can make money from them if you know what you're doing.
I know there are many people out there doing this and I would like to as well ;o)
I know some of the things to do, but I still need to know which forms to use and some other details.

Thanks in advance,

I have been involved in real estate investing for almost 15 years. I have never heard of Tax Overages funds until the other day. I am very good at research, hence the reason I am here. I know that you need a power of attorney from the prior homeowner. What other documentation is required is my question. I have contacted the local county office and trying to find a PI I can work with. Does anyone know what else I need to get started?

Trying to get into real estate excess proceeds (overages) and need to know if anyone out there has any sample letters they can share where they've notified their client of an overage? Appreciate any assistance you can provide.

Thanking you in advance,

The Howards

I know a little about Tax overages.
For one here is a link for the entire state of Arkansas with tax overages owed.
http://cosl.org/avexcess.aspx
Also from what I understand this is a list that is public information that you should be able to get from the county tax office.
Also not every state offers tax overages, only around 15-20 states is that a option.
When you have a list of the owners, you should have the mailing address & can send a letter to contact them about knowing they have moneys owed to them & you can show them how to obtain it.

why did you list ARkansas? I don't see that she is from Arkansas, so just curious. I also don't see anything on your bio??? Tammy

You can do overages anywhere from home whether you're in CA to NY.
The state of overages owed doesn't matter. Making money from overages is an agreement between you and the person who has overages available to them.
Arkansas just happens to be the only online source (that I know of) for an entire state list of tax sale overages, just thought I would share.
& yes I will add my bio on my account soon.

I know that there is mortgage overages everywhere and they are usually found at the Tax department not the court house because that is where they are paid and they hold the auctions at the court house. They have all the list but the court house has the records also. The proper forms to use is what I want online and most places still want to charge you for the forms even though they say Free but that is a sales pitch and scam to buy something else. I know a real estate attorney I can use and get the forms free but why go through all that hassell and just post it so all of us can copy them and use the forms ourself. It doesn't cost anything to put it on the site. I see a lot of guru's out there selling the process and it's not that complicated to do and there is plenty out there. It's the same as VA and HUD loans that were never redeemed and there is no time spand on collecting them. The people paid them loans off years ago but most states are about the same on TAX and MORTGAGE loan's before they can keep the money for themselves. The hardest thing I know is locating the people but all of us know at least one person that lost their house through a mortgage foreclosure or know someone who does know and they will be on the list. I wish we all would pay it forward, get them the refund and turn around and find them a house they can afford either through a tax sale or the many other way's Dean mentions. That would mean you get paid twice but remember the 10% that goes towards the Lord on Sunday, He'll pay you back more than what you need and many times over.

I have done a little research on overages in the State of Utah. I talked to a few people at the county tax accessors office and they referred me to the someone from the state. Turns out what they do in Utah with overages is they have set up a web site that anyone can get into and look up there name to see if they are owed any overages. It is a public site and if you can find it you can look for overages. I also asked them about collecting a fee for helping someone collect an overage. With the information I was given it was very difficult to make money for helping people find overages in Utah. I'm sure each state is different, so do some research in your state to see how it handles overages.