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Updated over 7 years ago,

Bret Schilling's profile image
Bret Schilling's profile image
Bret Schilling
  • from Pasadena, Maryland
  • Member since May 22, 2017
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Bret Schilling's profile image
Bret Schilling's profile image
Bret Schilling
  • from Pasadena, Maryland
  • Member since May 22, 2017
Connect
Bret Schilling
  • Pasadena, MD
0
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9
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Tax Liens & Mortgage Notes

bidding at tax sale for the first time

Bret Schilling
  • Pasadena, MD
Posted

Is my understanding correct that if you over bid the tax lien amount at a tax sale and the owner redeems, then you could potentially lose a lot of money? lets say the lien is 1000 and you spend 5k on it. If the owner redeems, he/she only has to pay back the 1k and any interest on the 1k. Is that correct or do they owe you the full 5k?

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