a pre tax sale

[kimesha]

i know we talk alot about a preforeclosure, but what about a pre tax sale. i sometimes just pick a last name out of the air and go on the judgement and lien website for my city. this usually list maybe a couple of hundred names of people in or used to be in financial trouble. one pops up saying that the house is scheduled to go for tax sale. he owes 9700$ ARV 80k. wowser!!! can i stop a tax sale like you can stop a foeclosure :rockon:

[Dan Auito]

Hey Kimesha, I have not invested personally in tax liens YET! But will be looking into them in the future, for now, here are some authorities on the subject. Do let us know what you find out, while we wait for answers here.

www.tax-lien-certificates.net/forum/default.asp (tax lien investors’ forum)
www.tlcinvesting.com (More tax lien info)
www.co.coconino.az.us/treasurer/invest.asp (tax lien Q & A)

I found this statement to be of insight: Go to the Tax Collector and ask what books they used for preparation in becoming a Tax Collector. Those same books are used in training attorneys in performing the Municipal Tax Foreclosure, this is a process, for sure, but if you own the lien, you legally can act as your own attorney. Doing so has made many of us wealthy, for sure.

P.S. I see you haven't downloaded that spell checker yet! Grrrrr

[Frank J. Festa, Jr.]

Dan:

In New Jersey the percentage rate on tax liens is 18%.

I have purchased tax lien certificates for years. Please be advised that all tax collectors and not nice people!

For the past few years the average interest rate collected is about 8%.

I spent 1/2 the day in Ocean County, New Jersey searching a title. I found the title, however it was passed in 2003 over my lien. That Sucks!

I hope I can get my money from the title Insurance Company.

Good Luck, Frank

[kimesha]

in philly i'm almost certain that we do not sell tax lein certificates. there is a deed sale once a month which is what i was refering to. i was wondering if i could try to buy it before it went to the sale to avoid the competition at the sale. i'm not really trying to get into certificates. trying to focus on a minimal amount of things at once :SM119:

[Bill H]

Kimesha:

Unless I am misunderstanding your post. The answer is Yes and NO.....Yes, you can, in fact anyone can, pay the back taxes...What does this get you... NOTHING except the good feeling that you paid someone else's taxes for them.

If you go to the owner and purchase the property prior to the tax sale then that is a normal subject to purchase and you inherit all the taxes, leins, encumberances, etc that are of title. Nothing is cleared from the title untill the tax sale is completed.

Good Luck,
Bill H

[kimesha]

if someone is benind in taxes, just as if they were behind in mortgage, you could offer to pay off taxes and offer them some cash. same as a foreclosure. if they are behind by 5000 and the house is owned free and clear. lets say the house needs 10k in work and has 2 other leins in total of 6000. ( this is all hypothetical) you pay off all liens 11k, repairs 10k, give seller 1000. They obviously don't want it. you bought it for around 21k and arv is 45k. that is what you could get! :SM088: