Tax liens for sale in New York, Nassau County

[Wojtek Wlodarski]

Just figured it's a pretty neat way to look into going prices of tax liens and they have a PDF file if you look through the links on the left of the page taht have all the tax liens sold. They have the lien amount, the interest amount, and the $170 fee, and then the final price. Next year I plan on picking up a couple of liens.

http://www.nassaucountyny.gov/agencies/Treasurer/Annual_Tax_Lien_Sale/ann_tax_lien_sale.html#[/url]

[N/A N/A]

Originally posted by "GreenHorizons":

What exactly are tax liens? I never heard about that. :violin:

If a property owner doesn't pay his property taxes, the county doesn't have money to pay for schools and roads, etc. So they let investors pay for the taxes on a short term loan. The loan is secured in a lien against the original owner's real estate.

If the property owner pays the taxes, he has to pay interest. In some states its as low as 4%, some are as high as 25%. That interest and possible penalties all goes back to the investor and the lien is eliminated.

If the property owner DOESN'T pay, in most jurisdictions, he loses his property to the investor. Investing in tax liens is fun and great, but you need a guide if you are a beginner. Don't buy a $3,000 real estate system, instead go buy some cheap books on BN.com or Amazon.