Domain Names TaxForeclosure.com and TaxForeclosures.com for Sale
Kristin Campbell | 08.07.06
Default industry-related domain names
www.taxforeclosure.com and
www.taxforeclosures.com are now up for sale.
TaxForeclosure(s).com LLC, a Baltimore-based domain name holding company, announced the sale today. President John Starling said the URLs were originally purchased in 1998 as an investment when he and partner Rob Macdonald were working as marketing consultants in the municipal tax lien market. Starling said he is selling, because the default business âis just not my passion.â According to a website statement, Starling and Macdonald believe an increase in tax foreclosures is coming and want to give buyers or licensees time to develop the URLs.
According to a market report created by Tax Certificate Consultants analyst Robert Fischer, the domains represent an estimated $4.5 billion market that is expected to grow substantially over the coming years. The report was based on 2004 data. Fischer's analysis claims a recessed economy, coupled with an inflationary real estate market, will lead to an increase in tax foreclosures. The report also found that 20 percent of states account for about 80 percent of the annual market, with California, Pennsylvania, Florida, Ohio and Texas in the top five in terms of having the most properties in tax foreclosure, which is the result of unpaid municipal taxes.
Starling said the retainer price for the domains is $275,000 and that he hasn't received any bids yet today. He said the closer an offer comes to $1 million, âthe more likely we are to sell outright.â He expects that tax lien and tax foreclosure companies, or possibly credit consolidation organizations, might be interested buyers. Starling said he does have a development plan for the sites and that the domains could be sold seperately.
Providing Starling and Macdonald are able to sell the domains, Starling said he plans on donating 10 percent of the profits to a non-profit organization dedicated to increasing financial literacy or starting a company focused on increasing financial literacy.
For more information, visit
www.taxforeclosures.com.
