Do You Think Buying Up Some Tax Lien Certificates Makes Any Sense?
I’m in Ireland and to the best of my knowledge we don’t have a similar system here (that is why the concept is slighty difficult to grasp) Do they ever pay off, I mean do you think they are worth it overall? Thanks
Tags: Buying, Certificates, Lien, Makes, Sense, Some, Think
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on Thursday, January 21st, 2010 at 11:02 am and is filed under Tax Lien Certificates.
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If someone has not paid their property tax for 2 years, you can go and pay the tax. It is not a gift. A box is marked “subtax” and your bidder number is entered. So the homeowner can not find out who you are.
If the owner does not pay up for 3 more years, you can go to court and get the deed to the house.
If the owner does not pay up for 5 more years, you don’t have to go to court. The County Treasurer hands you a deed. All mortgages are wiped out.
Less than 1 in 1,000 buyers ever gets a deed. The Certificate is what you get to prove that you paid the Subtax..
Yes. it is very secured investment.