2007-01-22 14:49:31 · 2 answers · asked by jazz 2 in Business & Finance ➔ Renting & Real Estate
Every state has different requirements and or systems to sell properties with liens. They may have tax auctions or issue tax lien certificates, or both.The best deals come from states that sell tax lien certificates. You simply buy them as an investment. They pay anywhere from 5 to 18% returns. If the person owing the state the money does not pay all funds owed to you including interest, you are then the owner of that property. Of course this is simplified, you will need to invest in some books further explaining the process for your state.
2007-01-22 15:01:48 · answer #1 · answered by Ron B 3 · 0⤊ 0⤋
Tax auctions for houses tend to go up in price. The bid price starts at the tax owed and then goes up as each bidder puts their bid in. In the end it goes to a wholesale price (priced below the market due to title problems).
You should consider purchasing books or guides first before you look to jump into this venue, because there are some pitfalls and liabilities that could hurt you. See my source below.
2007-01-25 01:26:10 · answer #2 · answered by John Rosa 3 · 0⤊ 0⤋