gpooch and I did some research on tax liens today! They are not what they used to be! Back 3 years or so ago I could walk into the county office and buy them without attending a auction! Now they all sell at auction! they paid 13% intrest now they pay 1% per month! So after this finding I would honestly agree with going to auction and seeing if you can get them at lien price and with that low intrest I would not pay more then face value!
Hi Reo(emailed you),
I checked a little into it last night and, depending on the state, the bidding appears to work 1 of 2 ways: certain states set it up so the highest bid in dollars for the tax lein itself, and then the % is set, or 2) other states set it up so that the bidder that bids the lowest percentage on the tax lien wins. And you’re right as it is a bidding process.