I Need Enlightenment

Comments(5)

• 
  JeanMarie21st October, 2004

  I guess I should also say that I don't really even know what a tax lien is. Or a tax deed or a tax lien sale or tax deed sale.

• 
  ray_higdon21st October, 2004

  For questions like this, the best approach would be to start by going to www.google.com and typing in things like:
  
  What is a tax lien
  
  How to buy tax liens
  
  etc.

• 
  JeanMarie22nd October, 2004

  Thank you Sara! That was very insightful and educational. Have you ever bought a tax deed, or a tax lien? How long have you been investing?
  This site has been so helpful in helping me understand more and more how real estate can make you money.
  Thanks again for all your time and effort!
  SIncerely,
  JeanMarie
  PS I will definitely be studying up on how to work with tax liens and deeds.

• 
  sara8122nd October, 2004

  I actually haven't invested yet. I am very cautious about getting into things like this until I feel I really know the industry! I haven't bought a deed or lien yet. I bought this manual called the Comprehensive Guide to Tax Lien and Tax Deed Sales and it's been really really helpful. (I found it on www.taxsale.com under their educational materials section.)
  I know what you mean about this site being so helpful! I have learned so much just from reading all of the posts!
  
  
  Quote:
  On 2004-10-22 10:03, JeanMarie wrote:
  Thank you Sara! That was very insightful and educational. Have you ever bought a tax deed, or a tax lien? How long have you been investing?
  This site has been so helpful in helping me understand more and more how real estate can make you money.
  Thanks again for all your time and effort!
  SIncerely,
  JeanMarie
  PS I will definitely be studying up on how to work with tax liens and deeds.

• 
  GeneralSnafu25th October, 2004

  Quote:
  On 2004-10-21 15:19, sara_t wrote:
  OK, I'm not an expert but here's some of what I know:
  
  Taxing jurisdictions hold tax deed and lien sales to get their delinquent taxes and to bring the properties back to the tax roles. By holding tax deed and lien sales, taxing jurisdictions are able to collect the outstanding taxes much faster than waiting for a payment from the delinquent property owner.
  
  A tax deed is a written document used to convey title to real property after property is sold at public auction by a local governmental authority for nonpayment of taxes. Basically, when you have the winning bid for a tax deed, you are purchasing the property itself.
  
  
  Sara, I'm afraid that you may have over-simplified your reply and omitted some very important details. The process is not quite as cut and dry and simple as you imply. As I see you have mentioned Florida before, I will respond with Florida in mind here.
  
  When you have the winning bid for a tax deed, you are not purchasing the property itself. In Florida, you could best compare a "tax deed" to a "Quit Claim Deed." You are only purchasing whatever rights "the clerk of the court" has in the property.
  
  After obtaining the tax deed you will need to do one of two things. Get quit claim deeds from all parties holding an interest in the property or, ask the court to eliminate all other claims to the property via a "Quiet Title" lawsuit.