Beacon Bay
Lakemoor, IL 60051

Here are the basic steps to follow:

• Find out from the tax office the time and rules for the bidding.  It is very important that you understand and follow the rules and regulations specific to the area where you are interested in purchasing tax liens.  Tax liens are handled differently in each county and must be researched to ensure that you are in compliance.
• It is a very good idea to at least drive by the property before bidding. (Please keep in mind that the owner may still be living in the property and their privacy should be respected).  There have been instances where the amount of tax liens on a property are more than the property is worth. It may be in a bad area; it may be abandoned and run down; it may have burned down. It is possible to buy a lien that has little or no value, so familiarity with the property is important.
• In most instances, if you are the successful bidder for a tax certificate, the rules require that periodic notice to the property owner be given. Be familiar with the rules for notice and follow them carefully. Failure to give notice, as required by law, may jeopardize your investment.

There is a highly organized market for real estate tax liens and many sophisticated investors buy them. Tax liens can offer higher returns than many other types of interest-bearing investments and represent an opportunity for very little cash. The market for tax lien properties is competitive and the taxing authorities have specific rules to be followed. A wise investor will research each property to make certain his investment is secure.

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Rental Value

The estimated rental value for Beacon Bay located in Lakemoor, IL is $1,090/month. Comparable homes around Beacon Bay that are rentals have monthly ranges starting as low as $930 per month and as high as $1,251 per month. An owner looking to use this property as an investment could bring a return in the area of $930 - $1,251 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.