All Forum Posts by: Fergus Clare

@Ted Li, thanks for your reply. I’m working in Illinois. I do know that fees for servicing the ownership of the lien are reimbursable at redemption. Based on your feedback for the specified states, the interest is on principal only which makes sense.

In an example I’m thinking off, if I were to purchase the certificate from another investor, any legal fees I accrue as part of obtaining that investment, to my knowledge, get wrapped into the total debt due at redemption with only the principal lien amount earning interest. If I have this wrong, lmk. Naturally I’ll consult an attorney before moving ahead but curious if any of you have had this experience.

Appreciate everyone’s replies.

If I purchase a Tax Lien or Certificate from another investor, are the fees and the actual cost associated with that purchase included in the principal upon which I may earn interest or am I only entitled to interest on the original Tax Lien amount with all fees added to the amount to be paid by the property owner after the fact?

@John Matthews, did you end up pursuing this? I’m in Chicago and am currently working on similar steps. Would be great to hear from either of you on how your experiences went.