Foreclosing on a Property After Purchasing Tax Lien

[Kei A.]

Hi all,

I talked to an attorney about investing in tax liens because I am planning on purchasing in the upcoming sale in either Baltimore City or Prince George's County, MD.  He stated that if someone buys a $4,000 tax lien on a property that is assessed at $100,000 and foreclose on the property because it is not redeemed, they would have to come up with the remaining $96,000 in order to receive the deed to the property.  Is this accurate? This was not my understanding of how the process worked. However, I want to be absolutely sure.  Any advice would be greatly appreciated!

Thanks,

Kei