Tax Lien Sales Knowledge Base
Does a business sales tax lien accrue interest after it is filed with the state? Our business went down the tubes and we owed sales tax in Arkansas; the state filed a lien against me...is this still accumulating interest? I paid the original amount and asked to be forgiven the interest and penalty, never heard a word from them and after checking with the courthouse they never received notice from the state on any payment.
Any small investors have good luck at tax lien sales? In KY the laws regarding tax lien sales to favor the institutional investors. I went to a sale on Tuesday and they cancelled it before it started due to an institution submitting a pre-auction bid to buy all of the tax liens. I was furious. I see the lose posibility as minimal, due to the fact that you have a redeption right and ability to foreclose if they are not paid. Am I missing something?
Tax Deed sales vs Tax Lien sales, a rundown anyone? I am a newbie investor in Chicago. The Cook County annual tax sale is in progress and I would like to look on only this year. Can anyone give the basics as above, and also anyone made any money from buying these?
Does anyone know about tax lien sales? Does anyone know how to find out when and where the sales take place? I would like to jump into this market. Do I just go to the county recorder and ask them?
Is there someone who is familiar with Illinois tax lien sale? I would like to buy a tax lien but I am confused with the 2 yr redemption period here in Illinois. If you purchased a lien for the tax year 2006(sold in 2008), and the owner did not pay their taxes and failed to pay again in tax year 2007, will you have the right to purchase the 2007 taxes and foreclosed the property OR will it be sold again in 2009 for the 2007 tax sale? Please help THANKS
Do we have tax lien sales in the UK? In Rich dad poor dad, Robert Kiyosaki explains how in the states you can buy tax liens, whereby you pay the outstanding tax bill on a property and are paid a guaranteed high interest on this debt by the property owner in return for the 1st title on the property. This would mean that if the owner defaults on interest payments you could end up owning the house for the cost of the tax bill and receive a high return on your money in any other case. Is this possible in the UK? Do the goverment sell tax debt here too?
tax lien sales? i want to start investing in tax lien sales. but b4 i do this, i need some info. so what are some good websites that will help me out? and is it worht it to do this?
Has anyone ever purchased property in a county tax lien sale? I will be attending our county's tax sale in October, and I was wondering if anyone has any experience buying property at such a sale. Was it a good or bad experience? Did the defaulting owner ever redeem the property? Or did you end up with a quitclaim deed, and if so, how long did it take? Thanks!
Can DBA Business Sales Tax Liens be removed from personal credit report? I have a few tax liens that appear on my personal credit report that are from sales tax reporting forms that were not filed by their due date, and the state estimated the tax and then filed a tax lien for the ridiculously high estimated tax. Since learning of this, I have filed the forms, and the state has sent letters stating that no tax is due and no further action is required.
Does anybody know about tax lien sales on mobile homes and how does this work? Another question. What is or are liens on a mobile home.?? (tax liens too??..) How will I know if a mobile home I want to purchase has a lien on it. As of now, I am located in Birmingham Alabama. Someone wants to sell a mob.home for $3.500, double wide 1981. This is my first time purchasing a mobile home so I want to be smart about this. I heard of escrow.... I just want to buy this home and not worry about any debts or liens I never built.
Tax Lien and Assignment Sale HELP needed by Attorneys and Investors!!!!? Well the tax sale auctions are coming up and I'm in Maryland and in my city if they don't sell a property in the tax sale it goes up to an assignment sale. 1. Can an assignment sale (which you must pay at least one years premium of 18%) be put it directly in foreclosure? 2. What are the cost involved in getting it into foreclosure? 3. What legal documents are required for me to begin foreclosure? 4. What legal documents are required for an assignment or tax lien sale? Thank you for your time and Thanks for answering any and all questions!
How can I use self-directed IRA money to participate in internet auctions for tax-lien certificates? I'm trying to get started in investing in tax-lien certificates using money in my self-directed IRA. I'd like to try participating in online auctions for county tax sales, but many of them require you to deposit some sort of "down payment" as good faith money. Does anyone know if/how I can get the money from my IRA for my deposit, so that my IRA completely holds the entire interest in these assets? Thanks in advance for your help.
How do you purchase tax lien properties? Anyone familiar with the tax lien purchase process? I know the county holds a tax sale for delinquent properties but what happens after you buy a property? If the property has a mortgage lien, what happens to it after the tax sale?
Tax Lien Sale HELP needed!!!!? Well the tax sale auctions are coming up and I'm in Maryland and in my city if they don't sell a property in the tax sale it goes up to an assignment sale. Is it true that once it is an assignment I can put it directly in foreclosure? Also, what are the fees and legal documents I need to do in order for this to work? I'm going to talk to a lawyer next week or so, but I don't want to be cheated or lied to. How much should a lawyer charge? If their was a tax lien of say $500, and the interest per year is 18% how much would I spend on a tax lien sale? on a Assignment sale? Thank you for your time and Thanks for answering any and all questions!
I have a state tax lien from 2005? Hope you guys can help me out, here is my situation. I am 25 years old, I was 20 when I started my own business. The store did well for awhile but I ended up closing it up and I owed money to IRS. I have paid my income taxes I was behind on down to 425.00 and I checked my credit report and I have a tax lien on my report from 2005. I'm sure it's sales taxes from about 3 months where I didn't pay, I wanted to but I was dead broke. The lien was on the store itself and inventory in it but the store's inventory was sold right before the lien was filed so the lien is still on me. The problem is I don't know how much I owe, this was a small business and my taxes wheere usually like 300 a month so I'm figuring I owed about 900 to start with plus late fees. Who do I contact to work out a payment arrangment? & Should I keep my bank account? Yes, I have a personal bank account with all my money in it. I don't want them to take all of it so should I get it out?
Tax Deed Sales in California? I understand that in California, when you buy a property from a tax deed sale, you immediately own the property (unlike a tax lien sale). Now my question is, I've read some places that for ONE YEAR, you can NOT get title insurance and there is a chance to lose the property due to an invalid sale or something. Please explain. Also, Does this mean you have to wait a year before selling the property???
Tax lien sale questions? can property be levied for income tax? or is it just property taxes? If so, will the taxing agency attempt to collect through wage withholding first or will they try to secure the property first? is a lien on the property the last attempt to collect or their first? say someone works for a payroll company and constantly gets tax levies from state and federal agencies and this person knows that there is no way the agency will be able to collect from the wages on this person. could this person doing the payroll then turn around and kind of have "insider information" on a potential upcoming property tax lien? I'd assume this could probably be illegal but it was just a thought that occurred to me. poster #2: i never said i was in the position to obtain this information. it was a thought i had that someone else COULD do it. so take your KARMA and shove it. go judge someone else incorrectly.
Can I sell a property that has a Income tax lien on it? I know that whatever profit there is on the sale would first go to the IRS toward the tax lien, but I am not sure how the tax lien will affect the sale. By the way, after selling the property the tax lien will not be totally paid off. All of the money from the sale will go toward the lien and it won't be enough to pay the entire debt. Does that effect the sale?Will it take longer to close the deal? does the IRS have to sign off on it? How does it affect the marketing of the property and does it affect the buyer in any way?
Tax Lien Property question for Franklin County, Ohio? I heard that Ohio would an excellent state for tax lien certificate sales except that the sales limited to institutional investors that can afford large packages of liens. What is exactly a "institutional inverstor"? is it a real estate agent or something?? Thanks
How do tax deed sales work in Santa Clara County? How do tax deed sales work in Santa Clara County? How do they work in the surrounding areas? I heard that they are auctioned once a year through the county (February) but then websites like foreclosure.com have them listed under the tax lien category (but a rep told me they are actually tax deeds) and it seems like you can purchase them online. (PLEASE ONLY RESPOND IF YOU KNOW WHAT YOU ARE TALKING ABOUT)
Is North Carolina a tax lien state? I've heard yes and I've heard no. Does anyone know for sure? I know that NC has tax deed sales, possibly with redemption periods. In that case you would be paid interest on your investment just like a tax lien, but you would have to put up a lot more money up front. I want to know if I can buy a true tax lien, for just the amount of taxes owed, plus admin. fees and such. Thanks for your help.
Tax Lien Certificates? Has anyone bought tax lien certificates, tax deeds, or tax sales? I am looking into doing this for extra money and would like feed back from people who have done this. Where is a good place to start and find the information? It appears to be a good money maker. Thanks
Florida Tax Lien certificate not paid after 2 year redemption period? I purchased a Florida tax lien certificate in 2005...The redemption period ended after 2 years & it hasn't been redeemed.I found out I have up to 7 years to foreclose but need to go to County Clerk pay $200 & file for foreclosure...and then it goes into a Tax deed sale. Before I do that... my question is, what is the chance of getting the property? Property has 2 mortgages...Do the banks come & outbid & win property at auction? Is there a secondary market whereby I can sell this tax lien certificate wihtout going to tax deed auction.If I was to foreclose & win at Tax deed auction will I be responsible for other debts from previous owner? What is best course of action? Thx
Tax Lien sale Montezuma County Colorado How it works?? I wanted to attend this property auction but I have some questions. First off let's say the property address and the owner address are the same. I am going to assume the owner still lives at the site. If this is so, do I then have to go through the eviction process if i win the bidding? Secondly, let's say I win the bidding on a house for $10,000. I pay the money and the property is mine right? Are there any hidden costs such as if the people owe a mortgage, will I also assume that cost? Will any other costs be disclosed at the time of the auction? Help please! Thanks! Acer, thank you for clarifying what a tax lien sale is, however if you look at my title I am asking HOW it works. I never planned on buying something and owing a mortgage. This is why I came here and asked what it's about.
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