If you are an investor with an eye for profitable opportunities, tax lien lawyer Ryan Lewis can help you navigate the upcoming tax sale in Frederick, Maryland.
In Frederick, Maryland, on the second Monday of May, an auspicious annual event takes place. It isn’t a crowd-raiser, nor is it a big draw among Marylanders or DC residents. But it does draw in wealthy folks and companies from around the world.
It is the annual tax sale for tax liens of properties that are substantially behind on their taxes, during which investors from around the world can acquire these tax lien certificates. The tax liens they will acquire during the tax sale are not only a profitable investment but also a very real chance at acquiring Maryland real estate properties in Frederick.
Whether you are hearing about tax lien sales for the first time or are an old hat of the tax sale world, Maryland lawyer Ryan Lewis is here to walk you through the Frederick tax sale process and timeline, which has changed somewhat over the last few years. But first, for those who are not familiar with the concept, a brief introduction.
For those who are not yet in the loop about tax sales, time to be let in on one of the Maryland real estate world’s best, worst-kept secrets. While Tax Sales don’t drum up a lot of noise and press, they are certainly worth paying attention to.
They occur each year to help the County government recover losses from unpaid property taxes. The liens of the delinquent properties are put up for auction, and the highest bidders walk away with a certificate of that lien after paying the taxes owed. Now, the property owner owes that amount to the investor who covered their debt, plus interest and fees, or they risk losing their home or business to that investor via foreclosure.
Since these tax liens are sound and solid investments with a reliable rate of return and a potentially substantial payout, they are often bought in bulk by big investment companies or specifically targeted by contractors, renovators, house flippers, or even international investors looking for a foothold on US soil.
Frederick, as Maryland's second biggest city, only a short hop from DC, with a reviving historic district and an influx of Biotech money, is a particularly tempting spot at the moment as rising property values and taxes push even more properties into default, all while making them even more attractive purchases.