Posts Tagged ‘Face Value’
transfer fee on small tax lien?
Friday, February 26th, 2010Some EBay auctioneers are Counties selling tax liens for land at ridiculously low prices. Liens can be purchased for 1 penny with a "face value" of about . Face value is the property tax owed by the current land owner. Problem is that the County requires a transfer fee of about 0. If the lien is redeemed by the current owner and you get for your winning bid of 1 penny, don’t you lose money after paying the County transfer fee? What am I missing here? Are bidders hoping that the owner won’t redeem and will then proceed to acquire the deed for property worth 00s?
