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One of the great ways to earn money is by investing in tax liens. However, many people are not aware of the process behind this investment. The tax lien is nothing but a lien imposed by the government when the owners fail to pay the tax amount. So, if a homeowner fails to pay these taxes the government will place a lien on the property. Usually, the tax lien goes to the bidder who is ready to accept the lowest interest rate. For more details. visit https://premiertaxliens.com/
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Tax lien investing- Things you must know while investing in a tax lien
Contents • Introduction • Things to know while investing in tax lien • Aspects of attending the tax liens • Benefits of Tax lien investing
Introduction One of the great ways to earn money is by investing in tax liens. However, many people are not aware of the process behind this investment. The tax lien is nothing but a lien imposed by the government when the owners fail to pay the tax amount.
Things To Know While Investing In Tax Lien • The Default interest rate • The Bidding process • The redemption period • The tax lien expiration period • How subsequent taxes are handled and • The penalties
Aspects of tax liens Assessing the property If you are purchasing the lien not the property itself, it is tempting to go ahead without bothering the view of the property.
Market value of the property The value of the property is affected by many ways. These include the city restriction, location, flood plain paths etc., and considering these factors is essential.
Benefits of Tax Lien Investing • Tax lien is a high priority lien which takes important over the mortgage liens, trust deed, judgementliens and more. • The interest is always 16-24 percent according to the state law.