Tax Lien & Deed
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TAX DEEDS
Tax deeds are sold in almost every state throughout the United States. Every homeowner must pay property taxes. If a homeowner fails to pay the required taxes the property, the county will offer the property up for sale at an auction.
During the tax deed sale, the property is usually sold for the back tax amount plus any fees, interest charges, application fees and court costs. By law, tax deed sales must be announced to the public, and are usually sold to the highest bidder. The winning bidder purchases the deed to a piece of property, becoming the new owner and obtaining all rights to the property – clear of any mortgages, liens, deeds of trust, etc.
The Difference between Certificates and Deeds
The most critical thing to understand is that “tax lien” means different things in different states.
LIEN STATES we are buying liens and can foreclose. Also called "Tax Certificates"
DEED STATES we are buying the deed to the property.