Buying Tax Lien from Winning Bidder

[Lynn Henley]

Has anyone ever purchased a Tax Lien from the winning bidder? If so, how did you approach them (letter, phone call, etc)?

How much did you pay for the lien (face value + interest or a discount)?

Thanks,

Lynn (FL)

[Ned Carey]

Yes I have both purchased and sold liens. When buying property I have been able to negotiate a discount on tax liens. These were special situations where I knew the lender could not foreclose.

I have sold liens or judgements at a premium to people with an interest in the property that wanted the lien or wanted to redeem after a foreclosure judgement in my favor. I probably have some liens now I would be willing to sell, some at a discount or some with a premium.

I have never bought multiple liens at one time (from another lien holder). When I wanted a specific lien I negotiated via the lien holder's attorney.

The face value and interest rate can be affected by the bid amount so you need to know the local rules.