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Updated almost 8 years ago on . Most recent reply

User Stats

362
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221
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Ray Slack
  • Investor
  • White Haven PA
221
Votes |
362
Posts

baltimore Tax sales Odd question

Ray Slack
  • Investor
  • White Haven PA
Posted

Okay..  I have a property in Baltimore city that I didn't pay the taxes on and the the tax lien certificate was sold at the last sale for about $5,300.     I was about to pay it off and then I saw the person Bid $55,000 on the townhouse.    I just bought the townhouse for $28,000 6 months ago.  So, $55,000 would be nice profit.


So, if I understand the process correctly if I don't redeem it the certificate holder can foreclosure and pay me $55,00 for the house, right? 

and if he doesn't foreclosure within 2 years his lien is wiped out and I've saved $5,300 by not redeming.  It seems like a win win for me not to redeem it.

Am I missing something? Can he sue my company for the taxes or is the lien  just secured against the house? 

Thanks for any input. 

@Ned Carey I know this is not the kind of question you like to hear from an owner, but I'm SURE you know the answer !!   : )

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