2006-11-27 17:23:46 · 3 answers · asked by macko vinche 1 in Business & Finance ➔ Renting & Real Estate
liens + agreed price = you
2006-11-27 17:24:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
These properties are called tax lien properties. Every county works a little different. In NY (Nassau County) they hold auctions a few days in January. The investor would bid on the interest they will receive on paying the taxes. If the owner does not pay within two-three years then you will receive a tax deed which entitles you to the property. A majority of the owners end up paying you quickly so they will not loose the property. However, there are a rare few that don't care. One major setback is that the banks will have a vested interest in following properties that are foreclosures of theirs. You should consult an attorney in regards to the legal aspects of the tax deed in your county.
2006-11-28 01:37:32 · answer #2 · answered by tianaramal 4 · 0⤊ 0⤋
No. But if you do buy the property you will have to pay the back taxes.
2006-11-28 01:26:55 · answer #3 · answered by alfa64dfwm 2 · 0⤊ 0⤋