Tax Lien Sales Online » Auction

Q&A: A tax lien certificate purchaser is threatening to foreclose, what can I do?

Tue, 28 Dec 2010 19:41:06 +0000

Question by IMUS B: A tax lien certificate purchaser is threatening to foreclose, what can I do?
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).

Best answer:

Answer by quizzard123
Normally, you have one year from the date of the tax sale to rescue your property. To do that, you pay the tax authority (city, county, whatever it is) the accumulated tax, interest, and penalties.

Once that year is past, the holder of the tax line owns the house permanently, and you have no more rights.

Know better? Leave your own answer in the comments!

Tax Liens Sold in Other Countries (outside US)?

Tue, 28 Dec 2010 19:41:05 +0000

Question by Katia: Tax Liens Sold in Other Countries (outside US)?
Hello! In the US the states have the power to issue a lien on the property when the owner fails to pay property taxes, the investor then buys the lien which pays interest to them at some predetermined or auction settled rate. In the US there are about 25 states (1/2) that do this. I was wondering, from those of you outside the US, if you had any similar investments?

Best answer:

Answer by Ty H
They have them in Great Britain. The percentage isn’t as good as the USA but they still have it. Haven’t heard of other places with it.

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Where To Find Tax Lien Auction

Thu, 14 Jan 2010 13:51:57 +0000

There are times when a property owner is unable to pay the obligation in property tax. When this happen, a property owner becomes a delinquent taxpayer and a governing authority is in charge of collecting the taxes. However, if the authority is not able to collect the required property taxes, they will opt to take the final step to collect the taxes. The public tax lien auction is the final step that will take the delinquent properties to be sold. Tax lien auction is an auction ordered by the court depending on the nature of sales in the form of tax lien certificates or tax deed sales.

Buying Tax Liens Online

Sun, 03 Jan 2010 15:16:48 +0000

What if you are really interested in buying tax liens, but you don?t live in a state that has tax lien sales, and you don?t live within driving distance of a state that does sell tax liens? One alternative to buying tax liens at a physical auction is to participate in the online tax sales. Only a few states have tax lien sales online, but fortunately each state that does have online tax sales conducts their sale at a different time of the year. So you can participate in an online tax lien sale somewhere in the United States in almost any season of the year.There are only 5 states that have tax sales online; they are Arizona, Colorado, Florida, Indiana, and Maryland. Even in those states, not all counties have online tax sales. You can find a list of these counties with links to the tax sale websites, and other details about their tax sales in my ?Guide to Buying Tax Liens Online? on the members area of TaxLienLady.com. The online tax sales are very different in each state, but they do have a few things in common.You need to register for online tax sales days or in some counties weeks ahead of the actual sale. You register for the tax sale and bid on the properties online. You are not actually bidding on the property, but on the tax lien certificate that is being auctioned. These sales usually require a deposit, and some of them have a non-refundable registration fee. Payment for the liens that you are successful bidding on is required within a day or two of the close of the tax sale for tax sales that use wire transfers as the method of payment. For tax sales that use ACH Debit as the method of payment for tax liens, you usually have to pay the day of the close of the tax sale. For these tax sales, you agree before hand to allow the county treasurer to debit your account for the tax liens that you purchase.These counties make it easy for you to register and bid online. The hardest part of buying tax liens online is doing your due diligence for the tax sale properties. Unless you purchase a tax sale list from a tax sale list provider, or in some cases from the county, you don?t always get to see the list of properties that are in the tax sale. Instead the properties are listed individually or in batches by an id number and you have to click on the property number to get the rest of the information on the property. For some counties there is very little information given about the property. This is where buying a detailed or enhanced list, with all of the assessment information for the property can me very helpful.

Joanne Musa works with people who want to build an extremely profitable portfolio of tax lien certificates or tax deeds FAST. You can find out more about buying tax liens online in my Guide to Buying Tax Liens Online. It?s a free bonus for you when you try the members area of TaxLienLady.com. To find out more about the extra bonuses that you get when you try the members area of TaxLienLady.com go to www.TaxLienLady.com/Membership.htm.