As an investor or legal professional, you understand the potential value of tax sales. Tax sales can be savvy investments, but only if you know how to navigate them. To properly secure a property through a tax sale in Missouri, you need proper title insurance and research. That’s where PureTitle comes in.
We provide tax sales insurance and services across Missouri. We utilize technology and our vast knowledge of real estate law to provide high-quality services. You shouldn’t have to take on the burden of tax sales alone. If you require tax sale services in Missouri, allow us to walk you through this process.
Defining Missouri Tax Sales
Property taxes vary greatly depending on the area of Missouri you live in. The average property tax rate for the state is 0.88%. However, the rate in St. Louis Country is 1.45%, which is much higher than the national average. If property owners fail to pay this tax, the bank may foreclose on their home and recoup the loss through a tax sale.
Tax sales are forced property sales after property owners fail to pay their property tax. In Missouri, tax sales must happen if the property owner fails to pay property tax for three years. The tax sale process involves a county tax collector selling the property to pay the overdue taxes, including accrued interest and other charges.
There are two types of tax sales: a tax deed sale and a tax lien sale. A tax deed sale sells the property in an auction. A tax lien sale sells the liens on the property to a third party, who can then collect the owed money.
When you purchase Missouri real estate through a tax sale title, PureTitle will ensure everything goes smoothly.
The Process of Tax Sales in Missouri
Before a tax sale commences, a country collector sends notice to the property owner with outstanding taxes. If the collector pursues a tax deed sale, the sale begins with a public auction.
If you are the winning bidder, you’ll receive a certificate of purchase. This represents your interest in the property during the redemption period.
When the tax sale process begins, the property owner enters a right-to-redemption period. During this time, they can pay the property taxes and other costs owed in full and reclaim the property. In Missouri, the right-to-redemption period lasts a year.
If the redemption period ends and the original property owner fails to reclaim their property, you can apply to collect the title or tax sale deed for the property.
These auctions occur annually. Therefore, if no one bids the minimum amount at the first auction, it will be up for auction again the following year.
Our Tax Sale Services in Missouri
Tax sales are different from traditional real estate sales. Having professionals on your side who understand Missouri tax sale laws during this process helps significantly. At PureTitle, we offer title insurance and research support to all buyers pursuing a tax sale. We help legal professionals by guaranteeing their clients’ title insurance and assist investors in reliable tax sales research.
We also offer comprehensive research support to ensure you have all the information you need for this sale.
Title Insurance For Missouri Residents
At PureTitle, we offer tax sales services in Missouri to legal professionals and investors who require title insurance and research on properties subject to tax sales.
Title insurance protects you from volatile investments. While any investment comes with risks, tax sales come with unique challenges. We guarantee title insurance for your or your clients’ desired tax-distressed property.
We provide Missouri-specific insurable contracts, lists of persons and contact information of all interested parties, and optional mail services.
Streamline Tax Sales With PureTitle
If you’re a legal professional or investor who needs tax sale services in Missouri, look no further than PureTitle. With our assistance, you’re guaranteed quality tax adjudication insurance and research. Contact us today at (504) 300-0520 for more information.
