I recently have heard about purchasing tax liens in New Jersey and how you can earn interest or take control of the property if the taxes aren’t paid by the owner. Does anyone know how this process is different in PA? I keep seeing information about tax deed auctions but I don’t know the difference between that and tax liens. Thanks!
@Edward Fordyce. I purchase NJ Tax Liens you can take control after you foreclose. You can’t move to foreclose until after 2 years.
I don’t know much about PA. I am interested in learning.
Got it thanks!
Pennsylvania is very different. I believe pennsylvania is a tax deed state where they don’t sell the lien but you bid on the tax amount to get title to property
They first have what is called an upset sale where you are bidding on tax amount BUT are responsible for any mortgages on the property.
If a property does not sell at upset sale it goes to judicial sale where all other liens are essentially wiped
That is it in a nutshell but do your research
Ok great thanks for the help!
@Chris Seveney any idea where I could read more about PA’s process?
For information on New Jersey Tax Liens read "The Complete Guide to Investing in New Jersey Tax Liens," by Michael Pellegrino, Esq
I just bought a few tax liens in Wyoming. Have to be the first lien holder and wait 4 years here. Going through the legal process now on foreclosing on my first. All of the last 3 years have been paid so I got my investment back plus interest.