How do I purchase Tax Liens in New York City?
Jan 03, 2010 in
Questions And Answers
I can not find out how the NYC laws work in regards to buying real estate tax liens (or tax certificates).
Like this post? Subscribe to my RSS feed and get loads more!
One comment
tianaramal on January 3, 2010 at 8:54 am
I’m from Long Island and they post tax lien auctions at the Treasurer’s Office website. It is in January of every year. Tax liens work on a bidding system where the winner accepts the lowest interest rate for the certificate. If the property owner does not payback the taxes with interest within two years you can obtain a tax deed which entitles you to the property. It is highly unlikely but it does happen. Also, many banks attend to purchase the certificates of properties that they loaned against that are in foreclosure.
You must be logged in to post a comment.