Tax Lien Sales?

By
Mortgage and Lending with OneVoice Communications
I would be interested in some advice on what to look for in tax lien sales. My understanding is you are buying someone tax debt and then you have to offer the owner the oppurtunity to pay you back with some interest or the property becomes yours. Is this correct and what is the timeframe to let the owner pay you back before you can take control of the property. Any other advice on this subject would be greatly appreciated.


P.S. I would be looking at properties in Maryland and Virginia mostly if that effects your advice as far as how the law works in these states. Thank you.

Comments (5)

Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS
The book called the 16% Solution by Joel S. Moskowitz JS will help explain this.
Nov 13, 2006 03:00 AM
Stefan Scholl
Buyer's Broker of Northern Michigan, LLC - Petoskey, MI
Northern Michigan Real Estate
My advice is to not even think about doing this without professional legal advice.
Nov 13, 2006 04:51 AM
Anonymous
John smith
I've bought tax liens and usually earn an 18% rate of return or more.  You can learn about tax liens and specific laws by buying books online on Amazon.  The best one I've got is Investing Without Losing: The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions by Don Sausa.
Nov 13, 2006 01:07 PM
#3
Melanie Montague
Keller Williams Select Realtors - Waldorf, MD
You need tyo know the rules of that area.  In Maryland each county has different rules that apply.  Check it out closely before you actually try.
Nov 19, 2006 01:01 AM
Anonymous
Anonymous

Hello! My name is Lanre Folayan. I am a realtor with Exit Premier Realty. I am still learning some things about real estate. One topic I just discovered recently was tax liens? Can you tell me what is it? Also,are they any books,CD's on this topic that you would recommend? Please reply to this e-mail at your earliest convenience. Thanks

 

 

Best regards

 

 Lanre Folayan

www.ernalrealestate.com

 

Jan 10, 2007 02:48 AM
#5