if property owner of a purchased tax lien does pay can i own the property free and clear?
Monday, August 1st, 2011 at 1:24 pm
I really need to know……….. I’m getting ready to invest $thousnds of dollars in this.
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If the property owner actually pays the tax lien off within the redemption period (typically 2 years in most states), you will get paid the interest and earn a return, but you won’t own the property.
You should attempt to do due diligence on your state laws or jurisdiction. You should also read more about how it works in terms of the auction process. The best book I’ve read on it can be found below:
Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days by Don Sausa
You need to investigate the laws of each state you invest in.
I believe in most cases, you simply by the ownership of the lien and have no rights to the house. You buy the lien at a discount and get that money back plus statutory interest.