I was referred to a seller who mentioned she has a property owned free and clear outside of an IRS Tax Lien that she say's should not be on the property.
She is looking to sell but desires to have the Lien Removed from the property.
If you know how this can be done without paying off the lien or producing documents that verifies her claim that the lien should not be, please advise.
In what amounts to a different chapter in the same book of predatory foreclosure practices, thousands of homes in the District of Columbia – and potentially elsewhere across the nation – are going into foreclosure due to tax liens that amount to only a few hundred dollars in many cases.
According to reports, nearly 200 homes have been repossessed due to tax liens by tax lien investors – many of whom come from outside of the District – since 2005, and investors plan to seize over 1,000 additional homes.
In many cases, according to one Washington Post report, the tax lien on each home was worth less than $500.
Tax liens are a great way for an investor with little money to get in to the real estate market. I often encourage a new student to buy a few liens so that they can start putting dollars to work quickly. The returns are very good, usually between 12% to 18%, and the redemption periods are often two years or less.
Where do I start? First of all, you need to find out if the state you are interested in sells tax liens. Some states only sell deeds. (That discussion is for another day.) You then contact the county that you are interested in buing a lien. The office you want to contact is often called the Tax Collector. Find out where a list can be found in order to look at available liens. You will usually make your purchase through this office.
Just like bank pre foreclosures
Tax sale "pre foreclosures" can be very good property targets to go after.
You can contact county treasures office & figure out how to get a list of tax delinquent properties in the area & ask what is the last day these owners have to pay off their taxes before they get foreclosed on. The owners of those properties will have until that date to pay taxes or lose it. So the idea is as it gets close to that date, you can reach out to these owners on the idea of buying their property before they lose it & get nothing out of it.
The owners can be very motivated due to the fact time is not on their side, they will get nothing anyways & something is always better then nothing.
Let me know if you have questions on going after tax delinquent properties.
The state of Pennsylvania is a tax deed state and they have some great auctions.
they have 3 different types of sales for the tax deed properties.
1st they have what is called an upset sell. This means that since it is the first sale they have for the properties you will get the deed to the property but it could come with liens as well. So be careful with these.
The second sale is called a judicial sale. This is the auction for all the properties that did not sell at the upset sale. Since this is the second round all liens and encumbrances will be wiped out but you have to be there in person. These are great auctions if you are able to participate.
So in the realm of tax sales both liens and deeds you will come across properties that do not have a SFH on them or are not of a building shape.
Are these destined for not being purchased just because they are not the perfect shape?
I offer some of the following tips in looking and evaluating these bits and pieces.....
These have been broken out by their profit potential…..Reply with some of your success and ideas
MI is starting their auctions July 30th!
Most counties in MI host their auctions online at the website www.tax-sale.info .
I am a big fan of MI tax deed sales and have invested here for years.
One reason I am a big fan is each county has 2 auctions between now and through October.
They have their first auction where the starting bid is the taxes owed on that property
But then each county has a 2nd auction about 7 weeks after their first one. The properties in the 2nd auction are the properties that didn't sale in the first one.
The attractive thing with the 2nd auction is many properties land/houses have a starting bid of 200$.
We are here to help and answer questions if you have any.
Ask us anything about tax sales that you need help with.
If you want to buy some from dean or if you are looking to buy directly from the county we will help with what questions you have.
Every year all the counties in FL have their tax lien auctions in the month of May, when those are all over, shortly after all the counties in FL sell the liens that were left over 'First come first serve' "county held liens"
This is hands down my favorite time of the year to invest in tax lien certificates! Every year there are thousands upon thousands of great liens left behind waiting to be picked up! FL offers a great interest on your money of 18% with a 5% minimum.
Start by contacting the county Tax collector and asking for "the list of liens left over from their auction that are available to purchase" & then begin finding good lax liens to invest in
The reason I post June-Oct is the good liens in FL wont be available all year long, again 'first come first serve'
A loan made to an individual or a business can be secured by real estate or real property. This is also called real estate lending, or trust deed investing. A trust deed is recorded, putting a lien on the Title to the real estate. This serves as the security for the loan. But what are the risks of trust deed investing?
Trust Deed Investing is not easy, as it requires knowledge of real estate, and in some cases, property management experience. Should the borrower not repay the loan, there is a risk of foreclosure. Depending on which State the real estate is located, the foreclosure process can be fast or slow. Once you are able to successfully take the property back, then you must market it and sell it. Cory Z.
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?