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Town set to sell tax liens. Are you ready to buy?

By brainflation

As I previously posted here the town is all set to sell off some tax liens on delinquent properties.

The RFP is here.

What does this mean for you? As I explained a bit in the post referenced above Tax Liens carry a state mandated interest of 18% until paid off. So if you buy one or more of these babies (be prepared to pay at least face value and maybe a few cents over to compete with the professionals) you have a secured interest in real property with a potential to foreclose that is senior to all other claims on the property except older tax liens and federal liens which will accrue 18% interest annually until it’s eventually paid off.

I may just have to run down and get a copy of the RFP packet for this one to share.

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This entry was posted on May 13, 2008 at 4:23 pm and is filed under East Hartford, Misc.. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Town set to sell tax liens. Are you ready to buy?”

  1. A run down on the tax lien sale « Brainflation Says:
    May 16, 2008 at 9:11 pm

    [...] run down on the tax lien sale As previously mentioned the town is in the process of conducting it’s annual disposition of delinquent property [...]

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