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Updated about 13 years ago on . Most recent reply

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1,493
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268
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George P.
  • Real Estate Investor
  • Baltimore, MD
268
Votes |
1,493
Posts

Cashier's checks/MO when buying a tax lien

George P.
  • Real Estate Investor
  • Baltimore, MD
Posted

The City requires either a cashier's check or a money order for all tax lien purchases (probably don't trust employees with cash handling). Buying money orders is a real pain cause the grocery stores impose limits on daily purchases and only sell them in $500 increments. Thus a $2,610 lien would require 6 money orders and $6 in fees.
Cashier's check costs me $10 to$15 in bank fee. They issue no more than one check per day. So a $2,610 lien would cost $10-15.
The only reason why I am still contemplating is that these fees reduce my effective return. I'd be leaning however towards the cashier's check but still not the best solution...

How does it work at your municipality?

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