Luanne
Admin
Admin
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Re:explanation how it works - 2007/03/19 14:01
Hi Pat!
Sure, I'll be happy to explain to you how tax liens work. Keep in mind that every county has different rules governing the process of tax lien and deed investing.
Basically, when investing in a tax lien you are only purchasing the taxes owed and the property owner repays you with interest over time. If however the owner does not repay you within a specified time period then you may go through a tax foreclosure proceeding, A.K.A a tax deed auction. Here you have a chance to actually own the property. However, you will be bidding amongst other investors.
You could however bypass the lien investing and go straight to tax deed investing where you won’t have to wait and can bid/purchase on a home to own.
You will have to go through the county in order to participate in an auction. Some cities have auctions online, others take place on the courthouse steps, etc.
Hope this helps and feel free to ask any further questions whether on the forum or directly by using the contact form on the site.
Thanks,
Luanne
TaxLiens.com Admin
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