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Updated 2 days ago on . Most recent reply
Purchasing a property after the tax lien sale
Has anyone had success purchasing a property during the redemption period after a tax lien sale? I have the list of properties that were auctioned at the tax lien sale and I am thinking about reaching out to them to see if they would be interested in selling. I understand I would need to factor in the unpaid taxes but is there anything else that I am missing? Would appreciate some insight from some of the seasoned tax lien folks.
Thank you!
Most Popular Reply
@Sebastian E. Maryland is a state that has pre-foreclosure laws. It is along story and a case of bad facts make bad law. many sates copied the MD law. This law passed before the 2008 meltdown. I wonder how many people last their homes because RE investors weren't able to help them.
That said, unless there is a state law prohibiting it, you simply buy the property from the owner and the tax lien gets paid off at the time of the sale.
Potential risk, the tax foreclosure could be competed while you are under contract. Not only would you be out of a deal, potentially a seller could come after you for any delay that gave the tax foreclosure to be completed.