Arizona is a tax lien state. The interest rate starts at 16% and the redemption period is 3 years. The interest rate is bid down at the sale. Tax sales are the responsibility of the County treasurer’s office and are held in February of each year.
Arizona is a tax lien state. The interest rate starts at 16% and the redemption period is 3 years. Tax sales are the responsibility of the County treasurer’s office and are held in February of each year. To bid at any of the Arizona tax lien sales you must first fill out a bidder information form and a W-9 form.
What do you need to know about the Arizona tax lien sales?
What You Need To Know About The Arizona Tax Lien Sales. Arizona is a tax lien state. The interest rate starts at 16% and the redemption period is 3 years. The interest rate is bid down at the sale. Tax sales are the responsibility of the County treasurer’s office and are held in February of each year.
Can a tax lien be rescinded in Arizona?
You should know that the tax lien which you wish to purchase may be rescinded due to a pre-existing stay order from bankruptcy court. In this case, only your purchase price will be refunded to you at such time as the existence of the stay order affecting a particular property is made known to Maricopa County and the Maricopa County Treasurer.
When to foreclose on a property with a tax lien?
Once an investor owns 4 years of tax liens (3 years from the date that the first lien was offered for sale), it can foreclose on the property, taking free and clear of any other junior encumbrances. Because tax liens are a creature of statute, they require an attorney who has dealt with this specific type…
Can a tax lien have priority over a mortgage in Arizona?
Amazingly, tax liens have priority over even a first position deed of trust (commonly referred to as a mortgage). About the only lien that has priority over a tax lien in Arizona is a state mortgage on a property, which is a very, very rare instance.
