tax certificate - interest rate negotiation
Is it possible to negotiate the interest rate of the tax certificate? here is my situation. I am planning to bid on a auction property that is being foreclosed by the primary mortgage (first). there are no other liens other than tax certificate. Assuming I am the highest bidder, what are my chances to negotiate the interest rate with the tax certificate holder to obtain clear title. This is for multi unit rentals and the taxes are in 50,000 range. the interest rate charged was around 25%.