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Senior Member
Join Date: Jun 2000
Location: N. Phoenix AZ USA
Posts: 28,977
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Eric,
Thanks and did not fully explain the situation. The "tax lien sales" are indeed held in Feb of each year and its an auction process.
The amount of the interest can be bid down but after 31 May (last weekend) if there are any properties that have outstanding tax bills against them then they are open for purchase AT ANY TIME. These properties have no bidding on them and if you take the lien you get the full 16% return.
If I buy a tax lien property this week when everything is opened up, eventually I will get either my 16% return on the tax amount or the property when I foreclose on it in 3 years.
THE,
I understand the process just fine. If the above is not correct then please let me know.
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2021 Subaru Legacy, 2002 Dodge Ram 2500 Cummins (the workhorse), 1992 Jaguar XJ S-3 V-12 VDP (one of only 100 examples made), 1969 Jaguar XJ (been in the family since new), 1985 911 Targa backdated to 1973 RS specs with a 3.6 shoehorned in the back, 1959 Austin Healey Sprite (former SCCA H-Prod), 1995 BMW R1100RSL, 1971 & '72 BMW R75/5 "Toaster," Ural Tourist w/sidecar, 1949 Aeronca Sedan / QB
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