forclosed houses with a county tax lien on them
2007-02-19 11:26:18 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Ususally there is a lien auction. Look into whether this happens in your county.
2007-02-19 11:29:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The basic idea is to buy low and sell high.
Understand the local market to see if you can re-sell quickly if you foreclose on a tax lien. And also please understand that a tax lien doesn't convey ownership, you don't own the property until you waitt for a redemption period to end (usually 2-3 years) then you can convert it into a tax deed, where you own the property.
Each state has different laws, so you need to buy a book and figure out which state you'll invest in. See the book below.
2007-02-21 11:41:34 · answer #2 · answered by John Rosa 3 · 0⤊ 0⤋
You'll have to pay off the lien to get clear title. If it was foreclosed by a bank, they'll normally clear the lien in time to prevent the taxing authority from taking the property.
2007-02-19 19:42:10 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋