FAQs
WHAT ARE THE RISKS ASSOCIATED WITH A TAX LIEN CERTIFICATE SALE?
The purchase of a Tax Lien Certificate is a risky investment. Investors are strongly advised to investigate the property they intend to purchase and know exactly what they are buying before bidding at the Tax Lien Certificate Sale. The Collector gives no guarantees and makes no representations regarding property title or the nature of the interest in the property that is listed. The Collector gives no guarantees and makes no representations regarding prompt redemption or return of the lien amount, etc.
CAN A TAX LIEN CERTIFICATE BE VOIDED?
Yes...Occasionally it may be necessary for the Collector to void a Tax Sale Certificate after award. In that event, neither the owner nor the Collector will pay interest, legal fees, costs, or any other charges to the Tax Lien Certificate Holder.
WHY WOULD A TAX LIEN CERTIFICATE BE CANCELLED?
Some of the reasons a tax sale may be cancelled are to correct errors, omissions, or double assessments or when ordered by a court.
ARE THERE ANY HIDDEN COSTS AT A DELINQUENT TAX SALE?
The dollar amount shown on the delinquent listing and on line advertisement prior to the tax sale is the balance due to date, it does not include any additional costs or interest that may get added by the time the tax sale begins. During the tax sale the amounts you are given will include all costs and interest due.
DO I HAVE TO NOTIFY THE TAX DEBTOR THAT I PURCHASED THEIR PROPERTY AT A TAX SALE?
Refer to La. R.S. 47:2156---Within the applicable redemptive period the tax sale purchaser should send a written notice to any or all tax sale parties notifying the parties of the sale. Due Diligence is highly recommended.
