Staten Island, NY · Member since 2016 · 10 posts · 1 vote
Hello BP community,
My partner and I are looking to market to home owners in NYC with delinquent taxes.
Here is my question:
Once the property tax lien was sold at the tax lien auction to tax lien servicing company like TCM, can I still buy the property from the home owner? I.E. does it make sense to continue marketing to my tax lien list after the auction? or I will need to deal with TCM?
Any feedback on this topic is greatly appreciated, I am also using other sources to research this topic, so if I find out anything, I will be sure to share as well.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
9y
I don't know NY specific law. I general if a tax lien is sold yes you can still buy the property from the owner. The tax lien simply gets paid off at settlement. However if a tax foreclosure has started then you have a deadline and need to get the deal closed before the foreclosure is final or pay the taxes off in advance of settlement.