Would you purchase the tax lien on this property for $5547? We did.
We purchased the tax lien on this property on 06/22/2004. We paid $5547 for the tax lien that is the first priority lien on title to this property.
The tax lien will earn 24% per year, which is 2% per month. The earned income will be paid when the lien is redeemed. The county assessor's value of this property is $114,200. The market value of this property is estimated to be $125,000.
We purchased the tax lien at the county held auction in Pottawattamie County, IA. The tax lien was placed on the title of this property by the local county government under their state's laws and is ahead of any mortgage or mechanic debts.
The tax lien must be redeemed by the property owner their heirs or the lenders or any mechanic debt holders on this property, on or before 06/22/2006. If the lien is not redeemed by this date, we have the legal right to foreclose in the local courts and receive a new clear title to the property. We may renovate it to sell this property for a profit.