First Time Auction Help!

[Sean McKee]

Hello BP!

I’m attending a tax lien auction next Monday. I’m mainly doing this to check it out and to get a blue print going forward. I’m not really looking to make a killing.



However I wanted to make sure I steer clear of certain risk. Specifically I wanted to know about the lien holder’s right to walk away from lien and not foreclosure if they choose? If for some reason the property ends up being worthless, I would prefer not to be forced to own it.

Thanks for any advice!

[Chris Seveney]

@Sean McKee

If you buy a tax lien you are not forced to foreclose on it - you have specific parameters to follow and statute of limitations - you can just do nothing and let it expire and walk away

You would lose your investment in that situation