Tax Lien Sale Next Week....... Some Questions
The county tax lien sale is next week and I have 2 properties I'm planning on trying to purchase the certificates on. Both properties look empty and both properties were in the tax lien sale in 2002, but the certificates weren't purchased. The homes need a bit of work on the exterior, no idea on the interior. The area is decent and the homes are decent IMO. Basically a "renter's" type of area. I researched the deeds on these and one of them has a foreclosure deed dated 2002. Can this present a problem? What would I need to do about it? I'm not concerned about the redemption period, but would that be the only way the mortgage company can get their money/house? Or do they basically have the house due to the foreclosure?
I'm in Oklahoma.
Thanks.
On tax leins it works either two ways!!
YOu either get paid a good return on your money or you get the property after the waiting period in my state 2 years
then I can foreclose.
I would buy them and see what happens.
What is the interest rate in your state?
8% annually with a 2 year redemption period.
I just started looking into tax liens last month, but I think I'm going to buy these certificates if I can. The opportunity has a BIG upside from what I can see because from what I've been told by the assessor, I can immediately start the deed application when I get the certificate. These props went into the tax sale in 2001 initially.
We'll see.
Thanks.