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If you are making a tax lien investment, having an attorney to guide you through the process is critical. From maximizing ROI to clearing tax sale title issues, our competent tax liens lawyers will provide you with invaluable support every step of the way.
When someone in Maryland cannot, or refuses, to pay their property tax, the government imposes an obligation on them: pay up or face foreclosure and repossession. That is what the Tax Lien represents, that threat of foreclosure and repossession. (Lien essentially just means debt; you can translate Tax Lien as a Tax Debt). Read More
Tax Lien Certificates make for a fascinating and potentially quite lucrative investment opportunity. They offer a number of advantages and benefits. Read More
Investing using Tax Liens in Maryland is relatively straightforward, but it is important to understand the steps involved. Read More
Maryland’s Tax Lien system offers excellent investment opportunities, but you still need to be careful. Having a real estate tax lien attorney advise and guide you through the process is the best way to ensure that your investment goes smoothly and profitably your way. Read More
It is entirely possible, and occasionally quite lucrative, to buy foreclosed homes in Maryland. These are properties that have been (or are being) seized and reclaimed by lenders to pay for debts on the home (often mortgage liens or tax liens).
You can buy the property before the foreclosure occurs (pre-foreclosure purchase), much like you would acquire any home. Alternatively, you can wait until it is put up for auction during the foreclosure process. Finally, for homes that were not purchased at auction, you can buy them directly from the bank or other lenders after the foreclosure.
Each option has its own advantages, constraints, and costs. As a result, working with an experienced local real estate foreclosure attorney is advisable.
If a property owner fails to pay their property taxes in Maryland, a tax lien on that property will eventually be put up by the government to try and collect what they can from private investors. The exact amount you must be behind on and the period of time before which the government can put that tax lien up for sale depends on the specific Maryland county.
Generally, however, the government has to give property owners a thirty-day notice before advertising the lien for a Tax Sale auction. Then, they have to publish that lien in one or more local newspapers for four consecutive weeks before it can be put up for auction.
Finally, once it is purchased at the Tax Sale auction, the government has, generally, six months to provide the Tax Lien certificate that allows the purchaser to collect on those unpaid taxes, plus fees, or force a foreclosure on the property within two years, after which the certificate expires.
An IRS tax lien on the home means that the current or former owners failed to pay their property taxes, and now a debt, sometimes quite significant, is tied to the property. If you buy it, that debt passes to you, so you should proceed with extreme caution (and legal advice).
Buying property with a lien on it is often frowned upon by real estate agents and banks alike; it significantly complicates the process and can end up costing you more than the property is worth. This is because you will then have to repay the lien or end up losing the property to foreclosure.
On the other hand, that lien is also an opportunity. By working with a real estate tax lien attorney, you might be able to buy the Lien instead of the property and foreclose on it yourself. This could allow you to get the property at a far lower cost and not have to worry about the lien.
Paying taxes due on a property allows you to obtain, from the Maryland County government in question, a tax lien on the property. This is an obligation for the current owner to pay you back for the taxes you paid, plus extra fees over time.
It also allows you to pursue a foreclosure on the property if the owner does not pay you back in time. This can be an extremely affordable way to acquire property in Maryland. Especially if you work with an experienced tax lien attorney to help guide you through the different costs, procedures, and legal steps required in Maryland’s counties.
The tax sales process is typically straightforward, but if complications arise, it can be challenging to manage them on your own. It is our goal to ensure that you receive property rights with minimal complications and financial stress.
From the bidding process to filing foreclosure actions, our legal professionals are here to oversee the entirety of your tax sale investment proceedings. With our knowledgeable advice, you have the ability to secure your investment and protect it if any roadblocks emerge.
At LewisMcDaniels, we aim to prevent problems before they happen so that you can finalize your tax sale efficiently and easily.
The redemption period can make or break an investment. Our firm is equipped to step in should challenges arise involving homeowners, servicers, mortgage companies, and any other interested parties.
Our strong negotiation skills ensure that you are getting the most out of your investment. Once you choose to invest, we speak with external parties on your behalf so that any roadblocks that may come up along the way can be avoided.
The skilled attorneys at LewisMcDaniels manage every part of the tax lien foreclosure process – from drafting the required documents and notices to the completion of all pleadings and motions.
Your return on investment is a vital part of the tax sales process. Our firm gives you the peace of mind you deserve by ensuring that your investment is worth it.
Whatever issues may arise along the way, our competent team at LewisMcDaniels is here to come up with practical solutions so that we can successfully close on your investment.
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When dealing with a potential investment, it is important to have an experienced advocate on your side. This streamlines the overall process and allows you to focus on closing a successful deal.
At LewisMcDaniels, we are pleased to offer our clients a comprehensive approach to tax liens and tax sales. Our services for investors typically include:
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The timeline associated with the lien process can vary in Maryland. Depending on the nature of the tax sale, the transaction process can take considerable time to complete. By working with an adept lawyer, you can be sure your tax sale investment is completed as quickly and successfully as possible.
Upon paying the pending tax amount as well as accrued interest, penalties, and expenses associated with your investment, you will be provided with a certificate of sale. It is important to understand that you do not have the right to ownership right away, however.
Under Maryland law, if an individual’s property is auctioned off in a tax sale, they have the right to purchase it back within a period of six months. This six-month timeline is commonly referred to as the redemption period. During this time, it is more important than ever to have a legal representative on your side to ensure that any threats to your investment are prevented. Read More
Attorney
Ryan Lewis is the principal partner at LewisMcDaniels. His practice focuses on Real Estate law, Complex Civil Litigation, and Tax Lien Foreclosure, among other areas of law Ryan has been honing his craft as an attorney since 2011. Before founding Lewis...
Attorney
Nicholas R. McDaniels is a managing partner at LewisMcDaniels. His practice focuses on Personal Injury, Family Law, and Estate Planning, among other areas of law Prior to co-founding the firm, Nick was a solo-practitioner with LewisMcDaniels…
Our capacity to make on-the-spot strategic decisions enables us to advance the position of our clients and come out on top. Over the years, we have helped countless individuals successfully navigate the tax lien and tax sale process – and we are prepared to do the same for you.
If you are looking to take advantage of the financial opportunities associated with tax liens, you need to work with someone that has experience in real estate investors law. The adept attorneys at LewisMcDaniels keep up to date with the dynamic tax liens market, allowing us to inform our clients on the most beneficial financial decisions to make.
We believe in empowering our clients by providing them with the resources necessary to make clear and educated choices about their investments. Our devotion to proactive communication allows us to stay on the same page with our clients every step of the way.
