how to purchase tax leined homes?

Question

how will i search for tax leined homes by state or county?

Answer 1

in the Phoenix area, Maricopa County, tax lien sales are held once each year by the county assessor. In the Phoenix area, tax lien sales are done completely online. The lowest bidder actually wins. Overdue taxes incur a 16% interest penalty. Bidders bid down the interest. The lowest winning bidder actually pays the back taxes to the county & the owner of the property has 3 years to pay the back taxes plus penalty interest rate of 16%. The buyer of the tax lien gets his/her money + their winning bid interest rate & the county gets the remaining interest rate up to a total of 16%. If the owner of the property does not pay the back taxes on or before the 3rd year after the tax lien is bought, the winning bidder may start the foreclosure process. Hope this helps, but each county can be different. so, visit your county's assessor's website for more info.