Posted by Jeff Bliven on February 09, 2001 at 09:56:43:
Remember, “delinquent tax” sales are handled differently in EVERY STATE, so the answer to your question would be literally a book think to cover them ALL!
But the basic process is you pay the back and/or present taxes for a period of years, then the taxing authorities will issue you some sort of a Deed, to which there may or may not be a re-course period from the original owner!
The interest rates will vary greatly from state to state, as will the terms for repayment!
I do know that there are people that with a little effort & KNOWLEDGE are making tremendous returns as far as interest is concerned (when the owner pays his delinquent taxes with penalties & interest). AND then as a “kicker” sometimes they get a piece of property instead… for a fraction of the cost!
Hope that helps??