(Note: if you are looking for help releasing IRS or ADOR tax liens, please look under: Practice Area > Taxation.)
Are you an Investor interested in Property Tax Sales? If you live in Arizona, consider yourself lucky. Arizona is one of the best states in the union for buying and selling annual property tax liens. Some of the benefits include:
- Potential high return on investment (up to 16% annually);
- First position lien;
- Statutory foreclosure on the property after 3 years; and
- Court costs and fees reimbursed (upon redemption)
Although property tax liens are generally considered a safe investment, there are potential drawbacks. Investors need to consider statute of limitations, other property tax liens on the same property, and maintenance costs of owning property upon foreclosure. Additionally, the statutory requirements for notice and service of process need to be carefully followed to ensure your foreclosure will not be rescinded.
If you are interested in learning more, either as an investor or as a homeowner falling behind, please contact us and schedule a consultation.