Can any one with this type experience please share some incite into purchasing real estate through tax sales. What was the first time like? what were the properties like that you purchased? what were your experiences with the previous owners of that property? do tax leins supercede 1st and 2nd lein holders? thank you in advance for your incite.
2006-10-30 23:01:20 · 3 answers · asked by houston t 1 in Business & Finance ➔ Renting & Real Estate
Very good investment. Search the properties closely like you would any other large purchase. Do you homework about sales on the adjacent properties at the Register of Deeds office. Or if you have a close friend in real estate, they can get Solds off their private websites.
Make sure the property is worth what you are paying. Tax Leins DO supercede 1st and 2nd lein holders, yes. Also, be prepared to maybe be outbid, investors love this kind of sale. Good Luck!
2006-10-30 23:12:27 · answer #1 · answered by Barbara 5 · 0⤊ 0⤋
Whether a tax sale certificate extinguishes the rights of all prior lienholders depends on whether the state law says it can, and only then if the prior lienholders were properly given notice that their rights have become jeopardized.
You need to know this before you can make a bid.
If there is a property worth 100 with a mortgage of 90 and a tax lien of 10, whether the maximum sane bid is 100 or 10 depends on whether you take subject to that mortgage or not.
2006-10-31 08:33:33 · answer #2 · answered by open4one 7 · 0⤊ 0⤋
you can get cheap deals from there
2006-10-31 07:05:03 · answer #3 · answered by Dr Dee 7 · 0⤊ 0⤋