What is a Tax Lien? : The Real Estate Bloggers

What is a Tax Lien?

August 28th, 2006 • Related • Filed Under

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As more and more homeowners are facing financial pressure on their homes, the use of tax liens to acquire distressed properties is going to increase. Typically, when a property owner is late on paying real property taxes, the local taxing authority will issue a a tax lien on that person’s property.

If you live in certain  states, the tax lien can be purchased and then sold. It also will serve as the first  lien on the property.

The sale of tax liens for back taxes is becoming common and will continue to be a way to acquire property relatively cheaply.

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There Are 3 Responses So Far. »

  1. Comment by Kathy on 28 September 2006:

    I hold a Certificate of Purchase on a piece of property that I have been paying the taxes on for 3 years. Does anyone know how I go about foreclosing on the property?? Thanks.

  2. Comment by Edward Carmin on 11 October 2006:

    Kathy, While I have not had the fortune to be able to foreclose on someone I can offer some advice. It depends on what state the property is in. I bought this tax lien investor package from http://www.govtaxliens.com that has specific information in it by state.

  3. Comment by darryll on 31 May 2007:

    i would like to know how to place a lien on a piece of property seconds after paying the taxes on it so when the time comes to foreclose on it ill be in the best position to take the property if not i at least get my moneyback

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