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Updated almost 8 years ago on . Most recent reply

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Melissa Kirchhoff
  • Ottawa, IL
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242
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Purchasing tax liens from an investor?

Melissa Kirchhoff
  • Ottawa, IL
Posted

Has anyone out there done this? I am interested in buying an already purchased tax lien that was already bought at a sale. Could I offer to pay off the full amount (plus interest) to them and go from there? Since I know it will be asked, the why, is basically that I'm hoping to get the property, since I know it's going into foreclosure, and I want to wholesale to area flippers that love snapping up deals in this neighborhood. I don't know if that's stupid, but I'm willing to try for that amount of money, and worst comes to worst, I feel like I can sell it as-is for a decent profit still. Anyone done anything like this and can give me some ideas? Thanks!

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

Yes I have sold a lien prior to getting the tax deed. I contacted the owner and found out they were not going to redeem the property. I sold the property for 3 times what I had in it. I put in writing that if property were redeemed that I would refund them the extra they paid. Just went to tax office and reassigned lien to other person. Very easy.

  • John Underwood
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