Tax Lien Certificates - Posted by BR

Real Estate Investing Real Estate Law
1

Posted by BR on November 04, 1998 at 19:14:54:

Thanks for the info. Homeowner not in a friendly mood at this time. Doesn’t want to talk about situation.

Buyer of tax lien certificate not recorded. I guess I’ll have to dig a little deeper!

Thanks again neighbor.

BR (MI)

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Tax Lien Certificates - Posted by BR

Posted by BR on November 04, 1998 at 14:23:04:

Interested in a home next to my mother that will be going thru foreclosure soon. I know there was a tax lien sale but I can’t find out who purchased it. I’d like to purchase the tax lien certificate then purchase the home when it goes thru the foreclosure process. (At this time, the guy won’t discuss it).

How do I find out who purchased the tax lien certificate? I contacted the Treasurer’s Office and was told that I couldn’t buy the certificate from the buyer. She wouldn’t give me any information, just kept telling me I had to pay them.

If I pay the Treasurer’s Office, all I’m doing is paying this guy’s taxes!!! The tax lien certificate would provide me with some sort of interest in the property. Am I correct, or is she ‘out to lunch’.

I’m just trying to get my ducks in a row.

Thanks.

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Re: Tax Lien Certificates - Posted by Tim Pannabecker

Posted by Tim Pannabecker on November 05, 1998 at 14:00:16:

BR,

If your primary goal is to acquire the property, have you thought about trying to purchase the delinquent note from the lender? (at a significant discount). As for the tax certificate, if you buy the house you will then be able to redeem the certificate. (However, I would try to buy the cert. at a discount from the investor). I know that you attempted to negotiate with the homeowner. You may wish to continue trying, structuring the deal around his interests with your investing parameters as a foundation. He/She may take paper for the down/cash to loan.

Good Luck,

Tim

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Re: Tax Lien Certificates - Posted by Ben

Posted by Ben on November 04, 1998 at 16:00:51:

The tax lien certificate should be recorded at the
County Courthouse.

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Re: Tax Lien Certificates - Posted by J.Hyre in Ohio

Posted by J.Hyre in Ohio on November 04, 1998 at 16:00:03:

What state are you in? The state taxation statutes will determine whether the treasurer must disclose the buyer of the certificate. If the buyer is smart, (s)he’ll record the certificate with the county clerk, so try there.

Also, find out how much the buyer must pay to redeem the certificate. You may be able to convince the buyer to pay off the certificate with your money (for a fee to the buyer) and convey the property to you. This should be done in escrow so that the buyer cannot walk with your money. Also,if there are other liens on the property, have an attorney check to see whether those liens survive redemption of the certificate (they probably do).

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Re: Tax Lien Certificates - Posted by BR

Posted by BR on November 05, 1998 at 18:29:08:

Thanks Tim,

With the holidays right around the corner maybe the homeowner will become more motivated.

I’ll start working on locating the purchaser of the tax lien certificate until,or, if that happens.