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How to Collect a Tax Lien

A tax lien assures that a tax debt owed on real estate is paid. Tax liens are sold at auction for the price of the lien to third-party investors. Successful bidders receive a tax lien certificate that is equal in value to the amount of the tax lien plus interest for a defined period known as the redemption period. At the end of the redemption period, the certificate holder is entitled to full payment for the amount of the lien plus all interest accrued during the redemption period. The normal route to collecting on a certificate at the end of the redemption period is to initiate foreclosure proceedings against the property owner.

Wait for notification of the sale date. The clerk sets the date of sale after you pay all charges associated with the sale. The clerk will notify you as the certificate holder, the property owner and all other lien holders of the sale date by way of certified letter. The clerk will also advertise the pending tax sale in a local newspaper.

Pay the fees computed by the county clerk as the cost of holding a tax sale. Typical charges include the clerk's fee, advertising fees, sheriff's service fee and certified mail fees.

Expect to receive payment for your tax lien after the clerk advertises the pending tax deed sale in a local newspaper. If you have not received payment for your tax lien from either the property owner or from the mortgage lien holder after public announcement of the tax sale, the auction will proceed.

Request a tax sale by filling out an application and by presenting the original copy of the tax lien certificate to the county tax collector, who certifies your application and forwards it to the county clerk, who computes the fees you must pay.

Collect payment in full for the tax lien certificate, or take title to the property. If the property is actually sold at auction, you likely will not receive the property, as it will be sold to the highest bidder. You can expect to be paid in full for the value of the certificate, all accrued interest, plus the cost of holding the tax sale. In the vast majority of cases, the tax lien is paid either by the property owner or the mortgage company long before the actual sale date.

Attend the auction if you intend to actually bid on the property. The property will be sold at auction in accordance with the statutes of your state.

Difficulty: Moderately Easy

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