Tax Deed or Tax Lien Both Generate Profits

By dhinternational  /  November 6, 2014 / Comments Off on Tax Deed or Tax Lien Both Generate Profits

Tax Deed or Tax Lien Both Generate ProfitsTax deed is a unique kind of foreclosure on delinquent properties performed by the taxing authorities and local government. For most people, foreclosure generally means a house, condo, or an apartment being sold by the banking institution for failure of the owners to pay their mortgage.

However, there is another type of foreclosure that happens when homeowners fail to pay property taxes. It is called tax lien sale. When this happens, the county places a lien on the delinquent property and sells it to the highest bidder at a tax sale.

A tax lien does not give the holder rights of ownership to the property yet. Redemption period on states that conduct tax lien sales can last as long as two years before a deed would be issued. It is standard procedure that deeds would only be issued after a public auction.

Tax deed or tax lien, an investor can benefit from both. Good profits also await those who wish to spend time doing research on tax delinquent properties. Just waiting for the right owners to come and bid on them.

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