Pro Tips for Buying Property Through West Virginia Tax Deeds

Sale Details

West Virginia Tax Sales Hybrid – Liens: Yearly in Nov; Deeds: Yearly in Sept-Oct

Redemption Period

Liens – 18 Months

Interest Rate / Penalty

For Liens – 12%

Bid Procedure

Premium

Number of Counties: 55

Useful Links

2016 West Virginia Code
West Virginia Land/County Collections

If you’re exploring new investment opportunities, West Virginia tax sales might be the golden opportunity you’re seeking. With its structured tax liens and deeds system, the state offers various ways to invest. Whether you’re aiming for high returns on tax liens or looking to acquire property through tax deeds, understanding the process can set you up for success. Let’s break down what makes this state a great choice for investors like you.

How Tax Sales Work in West Virginia

Sale Details

West Virginia follows a hybrid system for its tax sales:

• Liens: Held yearly in November.
• Deeds: Occur yearly from September to October.

These sales take place across all 55 counties, so opportunities abound no matter where you’re looking to invest.

Redemption Period

For tax liens, property owners have an 18-month redemption period. During this time, they can repay their taxes plus interest to reclaim their property. If they don’t, the property might transfer to the lien holder.

Interest Rate / Penalty

West Virginia offers a competitive 12% interest rate on tax liens. This ensures investors earn a healthy return while waiting for property owners to redeem their properties.

Bid Procedure for West Virginia Tax Liens and Deeds

When participating in West Virginia tax lien or deed auctions, understanding the bidding procedure is critical. The state follows a premium bid method, where the highest bidder wins the lien or deed. While this can drive up costs, the return on investment makes it worthwhile.

Why West Virginia is a Prime Destination for Tax Sales

West Virginia is becoming a popular state for tax sale investors, and it’s not hard to see why:

• High Returns: With a 12% interest rate on liens, you can earn significantly more compared to other investment options.
• Straightforward Process: West Virginia’s tax sale process is clear and transparent, which lowers the learning curve for new investors.
• Low Competition: All auctions are held in person, which can reduce competition from large institutional investors who typically participate in online auctions.

Recent Changes in West Virginia Tax Sales

West Virginia has introduced some notable changes to its tax sale auction system. Most importantly, the sales period has been extended. Now, tax sales take place from May through October, giving investors more time to research and prepare. This longer window also helps avoid the rush and gives you a better chance to make informed decisions.

Why Choose West Virginia for Tax Sales?

Good Returns: The 12% interest rate is higher than that in many other states, making it a great option if you’re looking for a strong return on investment.

Clear Process: The state has a straightforward process, which makes it easier to navigate. Just make sure you do your homework to avoid any pitfalls​.

In-Person Auctions: Since all auctions are held in person, you might face less competition than states with online bidding, increasing your chances of winning​.

Pro Tips for Getting Started in West Virginia

Do Your Homework: Always check out the property and understand the market before bidding. This can help you avoid any nasty surprises later on.

Follow the Rules: Missing a legal step could cost you your investment, so make sure you’re up to speed on West Virginia’s specific requirements​.

Clear the Title: If you buy a property, consider filing a quiet title action to remove any lingering claims. This will make it easier to sell the property in the future​.

West Virginia Tax Sale Auction FAQs

Q: Can I buy West Virginia tax liens online?
A: No, auctions are held in person.

Q: What happens if the property owner pays the taxes?
A: You get your money back plus 12% interest.

Q: Is there a penalty for late redemption?
A: No, but the 12% interest rate is designed to encourage timely payments.

Investing in West Virginia’s tax sales offers both high returns and the potential to own property. By researching and understanding the process, you can make smart decisions that pay off in the long run. If you need help, you can book a call with us or download our FREE Tax Lien and Deed 101 course to become familiar with Tax Lien and Tax Deed Investing.