Explanation on Buying Tax Liens

By dhinternational  /  August 27, 2013 / Comments Off on Explanation on Buying Tax Liens

Explanation on Buying Tax LiensTax lien is one type of sale for the government to manage the selling of seized and foreclosed properties. The government sells off the tax debt of delinquent taxpayers to potential investors in a public auction. During the sale, investors from different places, try to out bid each other in buying tax liens in order to win worthwhile properties.

Additional information about the tax lien sale is that there are certain states that utilize random computerized systems. The benefit from it is that it provides bidders the opportunities at the liens. While other states use rotational selection which offer liens sequentially to investors in a stacked list.

The tax lien sale doesn’t only give chance to the investors or lien certificate holders. The property owner is given a gracious redemption period to pay up his tax debt. During this time, the holders of the lien are prohibited from contacting the property owners to demand repayment. However, once the redemption period is over, the holders of the lien certificates may initiate foreclosure of the property and get title over it via tax deed sale.

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