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There aren't any really specific requirements for bidding on a tax lien. You simply have to know what you are doing. There are some great programs and books out there that can guide you through this process (http://tax-sale-lien-reviews.com). Knowing how the process works, including the possible risks associated with this type of investing, will better equip you for the auction/bidding process.
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What does Bid Down mean in reference to Tax Lien properties?
Do you mean bidder down? if that is the case it means the next highest bid. There are 5 types of bidding systems when bidding on tax liens... 1) Bid Down the Interest - means that the state sets a maximum interest rate for bidders at the auction, but bidders may bid a lower amount acceptable to them. For example, the maximum interest rate may be set at 18%, the bidding will start at this rate and bidders will "bid down" the interest until there is a winning bid. Sometimes liens can be bid down as low as 1/4 percent. 2) Premium Bidding - occurs when the lien is awarded to the investor bidding the highest premium above the lien amount. For example, on a $600 lien, the winning bid may be $1000 ($600 lien + $400 premium). However, check with that county to see how they will handle the interest rate for both the lien and the premium (sometimes you don't get the same interest rate for both). 3) Random Selection - county official randomly selects a bidder number and to see if that investor wants that particular lien. If that investor does not want the line, the official will randomly pick another investor, and so forth. 4) Rotational Bidding - all investors receive the same number of chances to purchase a lien. The county official will offer the first lien on the list to bidder #1, then the second lien is offered to bidder #2, and so forth. 5) Bid Down the Ownership - investors bid down how much of the property the lien will encumber. For example, an investor may buy the lien accepting an encumbrance on only 50%, 25% or even 1% of the property. == == == == == == == == == ==
what is this lien for?
what is this tax lien for
where do I get a tax lien directory?
where do I get a national tax lien directory
What is a federal tax lien?
A tax lien is when the IRS files a lien against a tax payer in the courthouse where the taxpayer lives. This lien will attach the the property the tax payer owns. The lien will stay in place until the lien is satisfied or the liability is paid. The lien does not need to be renewd.
Who can file Mississippi tax lien?
The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.
What type of lien does not have to be recorded to be valid?
Real estate tax lien
How to find out if you have a Student loan tax refund liens?
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What is the advantage of dealing with tax lien certificates?
There are a couple of advantages of dealing with tax lien certificates. Perhaps the biggest advantage of dealing with a tax lien certificate is a big tax deduction.
tax lien list for Galt, California?
tax lien list for Galt, California
What can lawyers do to remove a federal tax lien on my property?
The only way to get the tax lien off of your property is to satisfy the monetary requirements the government is seeking from you. An experienced attorney will have the knowledge and will know how to navigate the system to negogiate a settlement or make payment arrangements that you can afford.
What does release of tax lien mean?
Tax liens are usually placed on property creating an encumbrance on the property. The result is that once the property is sold the profits from the sale must first go to satisfied the lien holder with the balance going to the seller. Generally speaking if a tax lien is released then the property, personal or real is free of any attachments. Tax lien is a public record and all creditors will be notified about the tax debt. If you have a tax lien, you may be not able to make any big purchases. A tax lien may have a negative influence towards your business. Generally, "release a tax lien" = " resolve your tax debt". Of course, a tax lien can be released automatically within ten years if a new tax lien is not filed. For more information of how to release tax lien, you can check the related links.
Can the state offer a forgiveness against a tax lien?
a Tax lien was issued against a busniss not knowing the tax was collectable.
