Updated over 9 years ago on . Most recent reply
Tax Liens on County Owned Property
I'm looking at purchasing some properties that are currently county owned. I'm just getting into real estate investing so I have a few questions. I have already determined market value, but now I'm trying to determine if there are any additional liens on the property. The most common thing I'm seeing are liens for maintenance or mowing by the city. Does that mean I would need to pay that off once we purchase the property? Any advice would be appreciated! This is my first foray into real estate and it is a bit overwhelming!
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Hello Jenna...most liens are wiped away through a tax deed but that is where your due diligence and check with the county to see what needs to be paid. Not sure how it works in OK, but here in FL we pay the code violations after the tax deed. You would need to pay the liens prior to selling it and usually there is interest that accrues while they are not paid off. But you can certainly buy the property, rehab it, and put renters in there and have them help pay off the liens and for the cost of the quiet title if you go that route. Just some ideas. Good luck!