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TOPIC: Re: Tax Liens as Investments
#469
Marc ()
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Re: Tax Liens as Investments 5 Years, 8 Months ago Karma: 0  
Lisa...the answer is 5 years. In California, the owner of the property has 5 years to pay you back with interest or they risk losing the property to your tax lien. California is a "public oral bid foreclosure auction" state.
"Typically, the opening bid at such sales is the just back delinquent taxes, any penalties, interest or costs associated with those back delinquent taxes, and the prorated costs of conducting the sale."

Check the association of counties for California. Follow the _link_ to the corresponding county of your choice and you may find the properties available, or a list of dates for any upcoming auction(s). If their is no list, I would either email the office, or go down to the city hall and ask the person behind the counter at the tax assessors office, "which newspaper is the list published in?". Locally, I see the list published every few weeks. There are literally thousands of them every single time too, I've seen at least 3 this year. The waiting period for New York is 18 months. Texas is 6 months with a 25% interest rate of return.
 
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#6302
Re: Tax Liens as Investments 3 Years, 4 Months ago Karma: 0  
you would go to the city hall to find out what houses have back taxes and tax liens in other wise know.. then when you go and scoop out a house you would go back to the city hall or town hall what ever it is called and ask how much the back taxes are and when they was placed on the house. then when you have that info you ask them at the town hall or city hall if you get the deed free and clear when you pay off the back taxes and then find out how long they have to pay the back taxes back. then if they pay the taxes back they will have to pay you the money plus intrest on the investment some people will just let the house go others will try and fight but all depending on the person.......
 
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#6308
Re: Tax Liens as Investments 3 Years, 4 Months ago Karma: 2  
Every state is different. Some offer tax lien certificates, some tax deeds.
 
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#6313
Re: Tax Liens as Investments 3 Years, 4 Months ago Karma: 5  
Just be sure you know exactly what you are buying. I was at a tax sale once (in Ohio, they are done at the same time & location the sheriff's sale foreclosures take place) and a man next to me got all excited when his bid for $3200 (if memory serves) was accepted! I asked him if that was a house. He said it was. I was kicking myself for not investigating further in preparation for the sheriff sale (it had been my experience that most of the houses being sold for back taxes were pulled prior to the sale).
Long story short, the next week, the clerk at the sheriff sale told me the man wanted his money back, but it was too late. When I asked why he wanted his money back, she explained the property was an undeveloped, unbuildable (too small) lot. The man clearly didn't research to know what he was buying and his mistake cost him $3200.
 
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#6690
Re: Tax Liens as Investments 2 Years, 7 Months ago Karma: 0  
Sorry Marc, That's not quite a correct answer you gave to Lisa about California. I am also from the Inland Empire (Riverside and San Bernardino Counties) and learning about Tax Deeds and Tax Liens are my passion in life. California is a Tax DEED state. When the deed is auctioned off, the previous owner (the one who did not pay his property taxes) is just out of luck . This state sends multiple notices and warnings of the pending auction. If they don't pay the amount owed on their tax bill (plus penalties and late fees) by midnight before the auction, they lose it. Riverside and San Bernardino Counties have no period of Redemption. The 5 years you spoke of was how long the counties gave the property owners to bring their tax bills current before they auction off the property.
 
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#6800
alex ()
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Re: Tax Liens as Investments 11 Months, 3 Weeks ago Karma: 0  
debbie i live in los angeles . I can really use some help. www.constructionservices02060206@yahoo.com i would like to talk to you on the phone if possible
 
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