When it comes to tax and liens, many do not have full understanding of it. This is why a lot of individuals are not aware that they can actually earn money by simply purchasing tax liens. To help you out, let us define what tax lien is first.
A tax lien is like a security interest approved over a property to secure the payment of the money owed or taxes that were not paid. Individuals who are delinquent in paying taxes owed or taxes on their personal property or real property are obliged to pay tax liens.
For some people, they can actually earn money by simply purchasing real estate tax liens or tax certificates. You are probably asking yourself why it is wise to purchase tax liens. Well, for one thing, if you are in the state of Florida, you can earn interest of up to 18%. You also have a guaranteed return on investment and lastly, you can acquire
property by only paying the back taxes. How great is that?
Now you might be asking where and how you can purchase tax and liens. In the state of Florida if the lien is left unpaid after 22 months, the tax certificate holder has all the right to apply for a tax deed and instigate a tax sale. Once a tax sale is initiated, it will be or auctioned and the highest bidder gets it.
Having said all this, it is now time for you to take time to take a closer look at tax and liens. Who knows, this is your chance to earn tons of money.