All Forum Posts by: Nova Dear

@Nova Dear I buy a LOT of tax liens. It is an extreemly rare situation that I would assign a certificate. I would always expect a premium. That means if the owner redeems the next day I have made a profit and you have a loss.

I don't know how much you know about tax sale, but it is important to understand there is a LOT more to evaluating buying a tax lien certificate than just the face value. How the bidding works in your state, and how the original ceertificate owner bid can make a big difference in the value of the lien.

Good luck.

Hi Ned,

There is more to the story. I wouldn't attempt this route otherwise. This is the path of least resistance unfortunately as the alternative is a messy situation. Thanks so much for your insight it has been very helpful.

1 Vote

Chicago, Illinois

Quote from @Ned Carey:

@Nova Dear in most states yes tax liens are assignable. However generally there is no incentive to assign you a tax lien unless you pay a premium over the present value of the lien. You are at risk of loss if the owner redeems.

Also many tax sale bidders over bid. You could be buying a losing opportunity.

Thanks for the feedback. I finally found language on the cook county website indicating that they are assignable.

1 Vote

Chicago, Illinois

Hi Does anyone know if a tax certificate can be resold or reassigned by tax buyer? There is a property I'm interested in whose taxes have been sold and I'm thinking of offering the buyer compensation for their certificate or tax position.

Hope everything is well Alicia!

0 Votes

Hello,

I'm hoping someone could provide some insight as to the possibility of a tax certificate buyer being able to resale their certificate or reassign their interest and position to someone else?

In essence I'm interested in a property whose taxes have been sold and I wanted to see if I could offer the tax buyer compensation for their interest or position in the property. The taxes sold last November and the current ownership structure is impossible to work with so the tax position would be path of least resistance to eventually own the property.

0 Votes

Chicago, Illinois

Was hoping someone would have a average price for rear porch replacement on Chicago West Side two flat and any recommendations on contractors to complete work. Thanks

0 Votes

My multi member LLC owns several rental units in Chicago. We do not currently owe any money on the units but were looking to get a cash out refinance loan on one of the properties. As of now I am the only member whom can qualify for a loan and wanted to know if it is possible that one member can be the sole applicant of this type of loan? Also any recommended lenders that offer non owner occupied cash out loans?

0 Votes

All Forum Posts by: Nova Dear

Nova Dear has started 4 posts and replied 7 times.

Post: Insurance Brokers Landlord Policy Chicago

Post: Tax Lien Reassignment/Resale

Post: Tax Lien Reassignment/Resale

Post: IL Tax Lein Properties

Post: Tax Lien Reassignment/Resale

Post: Rear Porch Replacement Chicago 2-FLAT

Post: Cash Out Refinance Investment Property Chicago