Every year in the spring, dozens, hundreds, or more tax liens on Baltimore real estate plots or buildings are put up for auction. For anyone looking to invest in Baltimore properties, this is an exceptional opportunity. However, it is an opportunity best navigated with the help of competent tax lien sale attorneys like the specialists at LewisMcDaniels.
An IRS tax lien is Uncle Sam threatening to seize a property until its owners have cleared their property tax debts. In Maryland, these liens get filed with the Circuit Court or County Clerk, and the county or city will auction them off to the highest bidder to try to recover as much of that essential tax revenue as possible.
These auctions are called Tax Sales, and in Baltimore, they happen in May. But if you are interested in making money or acquiring property through a tax lien sale, you should start earlier in the spring, in late February or early April, when the list of liens is made public.
After all, a lien means that if the debt goes unpaid, the holder can eventually seize the property.