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Updated over 13 years ago on . Most recent reply

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Uwe S.
  • Property Manager
  • Dublin, OH
291
Votes |
1,550
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Tax Lien on propertie - holder want entire pay off

Uwe S.
  • Property Manager
  • Dublin, OH
Posted

Found an mixed use building with 8 units and a tax lien of $28k on it.
Mostly units rented (2 vacant) and bring in some money. I could buy this house but cant pay off the tax lien, so I asked the lien holder for installment plan but he rejected he want all cash.
So my question is, where can i find someone who buy this tax lien and enables a installment with 18% interest?

-Uwe

Most Popular Reply

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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
Replied

Uwe - I think Ned was saying that although you're asking for someone to buy this lien, what you may actually need (and not realize it) is a money partner.

I know you stated that the lien is transferable. But that does not mean it is for sale. In my state, tax liens are transferable/assignable. But that doesn't mean that anyone can come in and purchase someone's lien unless the owner of said lien is willing to sell.

So if the tax lien holder in this scenario isn't willing to sell you will actually require a money partner or Investor of some sort to come in with you and pay off the lien.

Again, I'm guessing (based on what I've read here ) that this is what Ned was trying to tell you. And if I'm correct then I'm also assuming that he was trying to give you tips on finding that money partner without violating security laws.

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