I purchased a tax lien certificate on a home I would like to own. I will begin foreclosure. There are many liens. Is this smart

Asked over 1 year ago - New York, NY

The house is in disrepair and has liens ranging from $6000 to 70 thousand dollars. What is the likely hood that one of these lien holders comes forward?

Attorney answers (2)

  1. John P Fazzio III

    Pro

    Contributor Level 16

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    Lawyers agree

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    Answered . This is one of those situations where you won't know until you go forward. A lot of times, the first to enforce their lien gets paid off first, but since you have a tax lien, that trumps everything else and will be paid first.

  2. Jayson Lutzky

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . I agree with the prior responder. However one additional factor is what is the value if the house compared to value of all the other combined liens.

    For further information you should see an attorney and discuss the matter completely. If you are in the New York... more

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