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re: Tax Lien Auctions have a great return but are they morally ethical?
Posted on 3/3/14 at 3:07 pm to Bear Is Dead
Posted on 3/3/14 at 3:07 pm to Bear Is Dead
quote:
Well one of the issues is that you cannot issue title insurance on tax sale acquired property. If the taxes were redeemed before property actually changed hands, then its insurable. But if owner never redeemed taxes, and tax sale purchaser acquires full ownership, you cant issue title insurance.
The problem is that you eliminate almost all financed buyers from your marketplace, if you were trying to sell that property. Cash buyers probably wouldn't care, but anyone that has to borrow money probably wouldn't get their loan approved.
i don't do this, but i know some people who buy tax sale houses and then make the resident pay them rent to keep from being evicted. no clue about whether this is legal, but it seems to work
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