Baltimore tax lien - cost to foreclose
Hey BP, and particularly Baltimore folks -
Another BP member, @Kenneth Futrell , and I are thinking of doing some work together on a tax lien that he purchased. We had a couple questions and were hoping some folks who have done this could help us out.
A couple of acknowledgments to start: 1) I understand that 99% of tax liens are redeemed, so this conversation might be a moot point; 2) I understand that tax lien investing has it's own risks and the returns are not what are often advertised in education seminars, videos, etc. I am treating this more of a low-risk intro into the potential of tax lien investing.
OK, now a couple questions:
1) For those that have gone through the entire foreclosure process on a tax lien, what is a range of the costs to go from tax lien certificate to quiet title? The things I would anticipate paying for would be my actual bid, the foreclosure process, the process to obtain quiet title, and any property taxes due during that time. What am I missing?
2) We understand that you can move up the timeline to foreclose if the property is vacant and we obtain a Substantial Repair Order. What is required of us in order to obtain a Substantial Repair Order?
Thanks all, appreciate it.
Brad