Buying Tax Liens on Properties in Nassau County NY ?

Foreclosures, Short Sales, Tax Foreclosures
1

Hello! I am interested in buying tax lien properties in nassau county. I’ve lived in Nassau County for 30 years so I’m really familiar with the area. I’m not really interested in acquiring properties, I’m more interested in the 10% per 6 month return. I’ve been reading the messages in this board and I was wondering if it’s really necessary to have an attorney in order to invest this way. Please let me know what you think. Thanks :slight_smile:

2

Hi,

So you want “Tax Lien Certificates” to make the interest on for a period until the owner hopefully steps in and pay’s up there taxes! There is no need to have an attorney when you buy them as the certificate is issued by the government and are legally against a property in tax default.

Now if a property owner fails to eventually pay there taxes and the certificate matures and the property is defaulted to you for the certificate, then you may need an attorney to get people out and take possession of the property!

                      GR
3

The tax lien sales in NY are held in April or August and all auctions are through competitive bidding. Remember that there are two types of tax liens investment these are tax lien certificates and tax lien deeds.

tax lien certificates give property owner enough time to look for funds needed to pay for the property, investors are permitted to pay the tax debt in this cases and that the owner of the property must pay the investor in specific time, in case the property owner failed to pay the investor, the ownership of the property will be transferred to the investor.

tax lien deeds on the other hand, put property into auction, with no waiting period for the highest bidder to take ownership of the property.

In any of these tax liens transactions you should seek help from attorney or people professional in the field to processes all the legal papers and understand the rules of buying tax liens.