Tax Deeds and Tax Liens some of the many alternative options for buying property. There are two options for purchasing tax sale land. One option is a Tax Deed where buyers bid for the actual deed to the property. A Tax Lien is where purchasers bid to acquire the lien on the property and to become the creditor for the lien at an interest rate to be determined.
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There are many types of discount properties that are available for purchase. These include properties available through auctions and tenders. Usually these types of properties will be advertised in a local newspaper or community magazine and will in some cases be listed on the website for the municipality or county.
Before one ventures into these types of seemingly lucrative purchases, one should read up on all of the processes involved and definitely consult with a lawyer.
In some places, in addition to properties being sold at a tax sale, there are also tax lien sales. In this case the the title or account of the ownership of the owed taxes could be put up for sale. The successful purchaser would potentially acquiring the ownership of the account for the taxes to be paid, but would not necessarily be obtaining the property. To be clear on the distinctions in tax sales, between tax deeds and tax liens, one should in all cases consult with a lawyer before venturing into this type of acquisition.
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Disclaimer: I am not an agent or broker and I make no guarantees or warranties related to any of the properties that I might discover during my research and which I may provide for review to a client. All matters related to title, financing and any and all registrations are the sole responsibility of the purchaser. It is recommended that a buyer consult with a Lawyer in good standing before considering an acquisition and definitely prior to submitting an offer.
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