Okay so the lien can wind up costing more than
the purchase price, correct??? and then there would be the cost of foreclosing on the property should they not pay the lien-correct? so, how does this turn out to be the great investment Ihear about??
Is there a way to weed out situations so I can keep
my lien investent to minimum??? Any courses on
tax liens/saes you can recommend??? Youhave been very helpful, thank you.
If I invest in a tax lien and the lien goes unpaid
and I get the property do “I” need to pay propety tax on that property till I can get it sold??? Is it better to try an flip i to an investor instead of at a lower profit or put it on the market at a
price lower than appraised???Help! Reply to email
would be helpful, Thanks, Steve.
I just saw on the dop/nyc site that tax liens are not for sale to the general public in NYc area, how
ca I then purchase, I want to become a tax lien/tax
forfeit property investor in NYC, Help to both questions. steve @ stephenchaleff@webtv.net
if you become owner of the property then you are responsible for your propery taxes. The good news is if you did your due diligence properly you should have
acquired that property at a mere fraction of its value. This would allow you to sell it below market value (which means it would sell quickly) but still at a huge gain.
I just saw on the dop/nyc site that tax liens are not for sale to the general public in NYc area, how
ca I then purchase, I want to become a tax lien/tax
forfeit property investor in NYC, Help to both questions. steve @ stephenchaleff@webtv.net
if you hold a tax certificate, the property owner is still responsible for the taxes, as lienholder you merely have the option of paying them if the owner continues to be delinquent.
NYC properties are far too valuable for the city government to let get away so they don’t sell liens or properties. However, the surrounding parts of NY do. I believe Nassau County, Long Island just had their sale.
Look into other counties in Long Island.
Ok, my research shows no tax liens sales in NYC, o I;ll go to long Island NY. In NYC they have Tax
forfeit property sales???if so great. I get the paying of taxes on property I’ll pick up at
property (deliquent) sales, but I’m not sure of the liens—I have the option to pay if the property owner does not???why would I want to pay, would
not paying jeapordize my lien??
Thaks to all you help. Steve
In many states, not keeping current with the taxes will reult in a NEW lien being sold on the property.
This lien will have priority over yours and ultimately
they will foreclose on the property, wiping out your lien.