Tax certificate Foreclosure Question about other liens and future taxes

Tax certificate Foreclosure Question about other liens and future taxes

Investor · White Haven PA · Member since 2014 · 362 posts · 221 votes

So, I purchased several tax certificates in PG County MD last May and some didn't redeem by the 6 month deadline . A few properties are not worth foreclosing the certificate but a few are worth foreclosing.   My question is about if liens and 2022/2023 taxes which are now due come out of my bid amount or due I have to pay those out of pocket? 

 Bid amount $6700

Certificate for 2021/2022 taxes $1,741 (I Paid this at the sale to buy the Tax certificate)

Taxes due for 2022/2023 $1300

Code enforcement lien $1500 

So, do all those get deducted off my $6700 bid amount?  Are 2022/2023 taxes prorated and paid out of the bid amount? 

Thanks for any input.

Ray

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  • New to Real Estate · CA · Member since 2022 · 1 post · 0 votes
    3y

    Hi Ray.
    How are you doing? 
    I am not an expert in Tax Lien, i bought a dozen of properties in tax deed sale, never took a tax certicate,  but tecnically you dont have the ownership or the rights of the property you are only  the right to foreclose the property, the best is do not pay any tax, before the Foreclosure. 
    Good Luck.

  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    3y

    Subsequent tax years and citations are not included in your tax sale... they will be due in order to record your deed (if you are able to obtain one). 

    Gimer Law516 Reviews
  • Member since 2022 · 9 posts · 1 vote
    3y
    Quote from @Julio Seixo:

    Hi Ray.
    How are you doing? 
    I am not an expert in Tax Lien, i bought a dozen of properties in tax deed sale, never took a tax certicate,  but tecnically you dont have the ownership or the rights of the property you are only  the right to foreclose the property, the best is do not pay any tax, before the Foreclosure. 
    Good Luck.


     Julio,

    I just got my bidder number for Tax deed auction here in Las Vegas next month.  It is my first time, do you have any advice?  

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