buying tax liens

[mrprezz]

On forclosure.com how do I buy tax liens from the website
I live in Mass. and I also was wondering where the office is to purchase tax liens from if anyone would know please help me.

[will1green]

I live in California and I am looking for the same information...

[ROI_10]

Hi Mr. Prezz!

You have to purchase tax liens from the county- normally at auction. The site just lists them so you know whats available.

Will: In California they don't offer tax lien certificates but you can attend a tax deed auction and purchase the property to own.

I just watched the on demand webinar on this. It was pretty helpful as the whole tax liens thing is really confusing at first.

[mrprezz]

thank you but what is the name of the office or locate where i could go and talk to someone about the tax liens

[ROI_10]

The office would be the county tax collector. :geek:

[bgrea]

Question...
Where on foreclosure.com can i find the rules and regs to buying tax liens for a particular state? For example: if I wanted to buy in Texas what is the redeemtion period and at what % can the owner redeem the property?

[ROI_10]

I don't think that is available on the site, as I have checked before. However, I do know TX rules.

Texas

First off, they do not offer tax lien certificates only tax deeds.
Unlike many states there is a redemption period of 6 months even after the sale. However, if the property is redeem you will receive 25% interest during that time.

[kwhite34]

Interesting article about Tax Lien Sales...I was not aware there is more than one way to purchase the liens at auction.

Also, How can you find out dates/locations/information of local tax lien auctions?

From Bankapedia.com:
http://www.bankapedia.com/mortgage-encyclopedia/residential-mortgage-terms/410-tax-lien-sale

"The sale of tax liens for delinquent taxes on real estate, orchestrated by a governmental agency, typically at an auction. In a tax lien sale the purchaser buys only the lien on the property, not the deed. If the lien is then not paid back by the homeowner for whom the lien had been previously levied, plus interest, then the new lien holder can file for foreclosure and be first in line to be paid off, ahead of any other liens including mortgages.
Just like in a Tax Deed Sale, there is a period of redemption in which the original owner has a window to pay back the lien.
In a public (or online) auction, in the event that more than one bidder is pining for the same lien, the winner is decided in one of five ways, depending on the state.
(1) Lowest Rate of Return: The bidder accepting the lowest rate of return is awarded the lien. If more than one bidder accepts the same low rate of return, they may use a random number generator to decide who is awarded.
(2) Random Selection, usually by computer.
(3) Rotational Selection: bidders are handed out numbers, the number one person may chose to accept the lien or refuse, if they refuse, it is then handed to the bidder with number two, and so on.
(4) Premium: The bidder willing to pay the highest excess amount above the lien (or premium) wins the lien.
(5) Lowest Bid of Ownership: The bidder willing to purchase the lowest percentage of ownership, say 90%, meaning they will own 90% of the lien and the original owner will own the other 10%, wins the lien."

[investoroftaxliens]

For anyone needing detailed information regarding tax auctions (ie, exact contact information, when & where the next auction is, auction listings, etc.), www.Tax-Lien-Database.com has all the information you need. Their database is also dynamic, meaning it continually updates with the latest information and they have an actual active discussion board (Admins answer questions). The site also provides a service for investors to buy and sell liens/deeds between themselves. The whole site is $10/mo, but the first month is free and is definitely worth a shot.

[bedrolyles]

On forclosure.com how do I buy tax liens from the website
I live in Mass. and I also was wondering where the office is to purchase tax liens from if anyone would know please help me.