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what is a tax lien certificate sale?what is a short sale? and what is a foreclosure?whats the difference in these 3?you see them all over e-bay i am thinking of buying not sure which to buy!!
I have been interested in foreclosures for the longest time but never decided to research further or take advantage of the market. Because it is a good time to buy I was hoping someone out there can offer some advice (in addition to the recent research I’ve been doing).
Because I don’t know much about the process I will throw around a couple terms I’ve heard lately: REO, gov’t tax lien certificate sales, title & bankruptcy search, property inspection, and HUD foreclosed.
I wanted to try a tax lien certificate but after doing research I’m seeing that this may not be the best way for me since I am so inexperienced. What is the best way for me to purchase a foreclosure and how do I get started? How long does the process generally take? Is there a way that I can see the property before bidding at an auction? If a property is a REO then I should be able to see the property before purchasing, right? Last question, When can I get the property inspected and a possible appraisal (before or after the property is bought)?
Whomever reads and answers this question, thank you in advance! I know this is a long question but I am serious about buying a foreclosure and doing the research necessary to attain this goal. Thank you.
Benefits of Investing in Tax Lien Certificates
Is this TRUE??
You get paid Interest while holding the Tax Lien Certificate, usually in the area of 16-18%.
You have the real estate as security for your investment in Tax Lien Certificates, which are also backed by the government.
If the property owner fails to pay within the redemption period, you can foreclose on the property and be issued a deed. ( meaning FREE AND CLEAR ownership of the property?
question to experienced tax lien investors, have you ever owned a property buying a tax lien in CA, or any other state? if so, how, and how long did it take you>> experience, explanation.
Please
thank you..
i dont want to go into an auction Tax Lien, investing my $$money and loosing at the end. so I need to ask the questions to real ppl like you,
thanks.
I heard that Ohio would an excellent state for tax lien certificate sales except that the sales limited to institutional investors that can afford large packages of liens. What is exactly a "institutional inverstor"? is it a real estate agent or something??
Thanks
am not a citizen of america or canada and i want to invest in the tax lien certificate if it is possible ? and if so what requirements do i need and please be specific on which county you are talking about
I am interested in purchasing a Tax Lien Certificate in anyh county in Maryland? How do I go about doing this? What are the first steps? How do I know where and when they have these auctions? Is the only way of aprticating in these investment paying comapnies on line? Are places I can go to get this information free?
I purchased a property 7 years ago and have never been late on my mortgage, insurance or my city taxes. I have no other liens and this is not an IRS or federal issue at all. An investor bought a tax lien certificate from my county from taxes that I didn’t realize I owed. I moved out of state shortly after purchasing the property and never received anything from the county in 7 years. Now I am getting a letter from the investor’s attorney that I owe approx 6 times what my normal tax bill amount is (after adding interest and fees). The property is actually in a real bad neighborhood and needs a ton of work and I have not been able to sell it now and I’ve been trying for 6 years. I still owe about ,000 but if they were to foreclose and auction it I doubt they would get more than a couple thousand for it.
My question is 1st of all, can they foreclose on it and if they do, can I buy it back for let’s say ,000 plus pay off the tax lien, and save myself over ,000 plus interest in the long run? If they go along with this scenario would it be legal?
It has been over 2 years since the tax lien certificatge was sold and I can no longer pay the county because my delinquent taxes were paid off by the 3rd party investor. I don’t owe the county anymore and I’m current except for that one year (2002).
I've seen many conflicting answers. I need to know if a Maricopa County tax lien certificate of purchase is subordinate to state and federal tax liens on a property.
I purchased a Florida tax lien certificate in 2005…The redemption period ended after 2 years & it hasn’t been redeemed.I found out I have up to 7 years to foreclose but need to go to County Clerk pay 0 & file for foreclosure…and then it goes into a Tax deed sale. Before I do that… my question is, what is the chance of getting the property? Property has 2 mortgages…Do the banks come & outbid & win property at auction? Is there a secondary market whereby I can sell this tax lien certificate wihtout going to tax deed auction.If I was to foreclose & win at Tax deed auction will I be responsible for other debts from previous owner? What is best course of action? Thx
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