Tax Liens Sales

What's the deal with a TAX LIEN SALE and how do you profit from them?

I want to know what happens if the land owner defaults and how they can default and how you can end op owning that property.

Public Comments

1. Tax Lien Sales sell the property at the minimum bid of what the other owner owed in taxes! If the property is desirable & not too beat up the price may rise! http://www.willyblues.com/
2. Varies by state. In Texas and Florida, the last tuesday of every month, they hold auctions on the steps of the county courthouses. They start the bidding at the owed taxes and work up from there. You must have cash in fist or a certified check available.
3. This is Carlton Sheets' scam. Most tax sales are swept up by the mortgage holder, if there is one. Tax sale real estate is usually of the less desirable variety, run down buildings, often uninhabitable residences. It can also include essentially unbuildable vacant lots. They can also have zoning, health and safety tags against them, which means you'd have to clear the violations before being able to sell. Worst of all, you often have little or no opportunity to inspect the property. You can get bargains, but you have to work very hard and very long to find one, and you can always get burned.
4. Tax lien sales are the selling of the lien on a home after the owner becomes delinquent on his/her payments. Tax lien investing is profitable and in fact is a win-win situation. If you buy a lien on a property, either two things can happen. The owner pays you the amount he/she owes plus an interest rate set by you or the house is sold for auction. Either way, you will still make a profit no matter what the outcome is.