Updated over 7 years ago on . Most recent reply
Buying a property with a tax Lien
What do you know about purchasing a property with a tax lien? What are the pros and cons? Things to consider?
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@Kristen Ray I believe what the person who told you that, was referring to was to buy a tax lien and then foreclose on the property. In theory you can own a property for just the cost of the taxes. That is a tremendous deal.
The reality is tax liens are sold at auctions. It is rare to get one simply for the amount of the taxes. Also there are cost to foreclose on the property. Yes it can be a great deal, but just like any other way of finding deals, it is not a guarantee of being a good deal.