Why Are Bidders Bidding Over The Face Value For Tax Liens?
Feb 22, 2010 in
Questions And Answers
on ebay? The face value is .00 but people are bidding 0. The home is valued at 1,000.
Why are they doing this when the owners can redem the certificate for only ? What exactly is their strategy?
Like this post? Subscribe to my RSS feed and get loads more!
One comment
ranger_co_1_75 on February 22, 2010 at 8:58 am
The notes have interest that compounds the longer the Tax Payer waits to pay of the note. Sometimes the Tax Payer waits until he sells the house to pay off the liens. In some states, the holder of the lien can foreclose on the house and get it for court cost plus the cost of the lien.
You must be logged in to post a comment.