ferdilverdil Posted March 21, 2007 Report Share Posted March 21, 2007 Property my father owned in Arizona was recently sold at a tax lien sale. Any suggestions on how to proceed to get back the property? Are you stuck paying the total + interest +fees+ penalties? Or is there any hope of settling for less? Any chance the lien holder will sell it back for what they paid for the lien or close to it? I believe the lien sale was less then a month ago. Link to comment Share on other sites More sharing options...
willingtocope Posted March 21, 2007 Report Share Posted March 21, 2007 I've been reading about this thing on the internet. It's supposed to get a farily expensive piece of property cheaply. I'm not sure I understand the whole deal, but the impression I get is that if there's a tax lien, and someone else pays it...they own the property...period. If its at all valuable, I'm sure they're gonna want a substantial profit. Link to comment Share on other sites More sharing options...
ferdilverdil Posted March 21, 2007 Author Report Share Posted March 21, 2007 That is what I initially thought, and that's the impression you get from the infomercials they have on tv.However, what happens is after they purchase the tax lien, they now have the 1st lien on the property should it be sold. They also have the right to foreclose after a certain period of time which I suppose varies in each state. Arizona is 3 years. Link to comment Share on other sites More sharing options...
willingtocope Posted March 21, 2007 Report Share Posted March 21, 2007 That sounds right. So, I guess what you need to do is get in touch and see how much they want. I'm sure they had to pay the full amount of the taxes and there are probably some additional fees. I can't see them cutting you a deal... Link to comment Share on other sites More sharing options...
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