Tax Liens Sales

Getting into Property Tax Liens?

I'm considering investing in property tax liens, I understand that there is a risk and that there is only a slim chance of me getting the property. Are there any good on line resources that give a thorough explanation of property tax liens? Preferably in Escambia County, Florida.

Public Comments

1. Just contact the local Tax Collector's office. Most of them have mailing lists you can sign up for, either e-mail or snail mail, and they'll notify you of any pending tax sales. They can also explain all of the local procedures to you. Basically you purchase the right to collect the unpaid taxes, plus interest at a rate set by law. The owner has a period of time to pay you off. That generally ranges from a few months to a couple of years, depending upon state law. If they don't pay, you have to foreclose on the tax lien and have them evicted. Few folks buying tax liens ever wind up with the property though. Most of the time if you do, it's a piece of junk property in a bad area. The few around here that go to foreclosure are so bad that you have to pull down the house if there is one and often clean the property as it's been declared a public nuisance. That can be a nightmare. Keep in mind that any mortgages or other liens are extinguished by a tax sale, so you'll be bidding against any lienholders who are going to be protecting their own interests.