View Full Version: How To Convert My Tax Lien Into A Deed

How To Convert My Tax Lien Into A Deed

olgam74
2008-07-29 18:11

Okay, this is my 1st time trying this...I know th property I am bidding on is vacant and has been for over 2 years, so I am bidding 0% for this property. If I win what due diligence do I have to perform to convert my lien to a deed? To who and how often do I have to give notice to take possession of the property? The property became vacant when the unmarried man died and left no will or family named. Please help or maybe you can direct me to a source that can help... Cook County, IL is where the property is located. Thanks in advance.


[ Edited by olgam74 on Date 07/30/2008 ]


fredfred
2008-07-30 02:12

no one can answer that,without knowing what state and/or county the property is in.


MiamisCraziest
2008-07-30 10:03

this is florida's process...it is different in every state, but to give you an idea....2 years after the first lien is filed, the lien holder can then apply for the property to go to the tax deed auction, but you will have to bid on the deed at the auction along with everyone else. However, if no one bids on it, it will automatically go to the lien holder applicant (you).
If you intend to buy proerties, tax liens are not what you need to be doing. you need to skip the liens and go straight to the tax DEED auctions and bid. you do not have to be a lien holder to bid or buy properties at auction.

they happen in every county every month. and the with the current state of the economy, i have NEVER seen so many great deals in the auctions. some props arent even getting bid on, which was unheard of 3 years ago! good luck.

in jan of 07 i bought a lot at auction for 10k...now people are buying houses for 10k. take advantage!


olgam74
2008-07-30 10:51

the property is located in cook county IL


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