What happens if the property owner cannot pay the taxes?
If the owner does not come up with the money within a specified amount of time, you can foreclose on the property. Unfortunately, you may wind up losing out on the deal if you don’t like the property or the house is less than what you paid for the certificate. Also, you have to be able to handle the fact that you might be forcing someone out of her home. While the individual is behind on her taxes, and that is not your concern, you need to prepare for potentially emotional situations. You will also inherit any of the problems on the property, so you might need to pay for repairs. Where can I get tax lien certificates? The process of buying a tax lien certificate will depend on the laws of your area. You can purchase these tax lien certificates at a county auction, which happens once a year. Look for tax sales advertised in your local paper, or contact your city or county’s tax department. Keep in mind that not all states have tax lien sales.
