Ways to Buy Tax Liens for Sale

Posted by | Tax Liens | Thursday 16 December 2010 3:07 am

In one form or another, almost every county government offers tax lien sales on properties. The government seizes these properties by delinquent homeowners who didn’t pay real estate taxes within a specific time or even not at all. Public auctions are held as a way for the government to make up for the taxes owed.

A person who wins a bid at real estate auctions can purchase the property at an amount which is lower than its actual market value. Every state has different laws and way on conducting such sales which is why you need to conduct some research on your own if you plan to buy tax liens.

Basically, you must learn everything you can about property tax laws, tax foreclosure process, redemption periods, and other aspects of real estate. You can find many resources on the internet as well as books talking about the subject. You would surely get the helpful information that makes buying tax lien certificates a breeze.

Contact the county where you plan to buy such properties. You can visit the county’s website or call them. After doing so, they can tell you when and where such auctions are taking place. They can also provide you a listing of the properties for sale. You can also find the auctions as it is published on local newspapers.

You should go see the property in person if you’re planning to bid on it. If you bid on it and win, it is yours. You can make improvements on it and maybe do some renovations. You can also keep it as a rental property or resell it in the future. Furthermore, to buy tax liens offers you the chance to move in yourself to that property.

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Your Common Tax Lien Questions Answered!

Posted by | Tax Liens | Tuesday 10 August 2010 8:50 pm

Question 1: What is a Tax Lien?

A tax lien is a right to take ownership of a property due to tax payment delinquency usually by a federal government, a state, or even a county.

Question 2: Who can buy tax lien certificates?

Anyone who has the money can buy tax lien certificates. Just remember, you are only paying for the owner’s unpaid taxes, so you are not actually doing any foreclosures.

Question 3: What is the limit of acquiring tax liens?

There is no limit actually. You can acquire as many tax liens as you like if you have got the cash to pay for them.

Question 4: Where do I pay?

You will be paying the government agency not brokers or any other intermediaries.

Question 5: Who will then pay me the returns?

The government agency to which you paid the delinquent taxes for will be the one to contact you when the property owner has paid for his taxes. The agency will then require that you return the tax lien. After the process, you will be receiving a government check.

Question 6: Are tax lien certificates transferable?

Yes, tax liens are transferable. You can transfer these to anyone you like.

Question 7: Will all the counties and states have the same processing when you purchase tax liens?

Actually no, each county and state have different rules to acquiring tax liens. So before you go and purchase tax liens, make sure to research about your chosen county’s rules.

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