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Troy Snowbar…, Renter in 10027

How can I purchase a tax lien in NYC?

Asked by Troy Snowbarger, 10027 Fri Apr 15, 2011

Help the community by answering this question:


Unfortunately, New York City does not sell properties offered at lien sales to private citizens. Unless there has been a change to rules as I understood them this is still the case.
1 vote Thank Flag Link Wed Apr 20, 2011
NYC sells property liens on delinquent property taxes, water, sewer, and other property-related charges and accrued interest. A lien for the entire delinquent amount will be sold in the annual lien sale, unless the property owners resolve their debt prior to annual sale deadline.

When the City sells a lien, it is not selling the property. The lienholder does not take title to the property. The lienholder purchases the right to collect the money that was owed to the City. Ultimately, however, if the property owner does not pay what is owed, the lienholder can begin a formal foreclosure proceeding in court.

Once a lien is sold, the property owner then owes the taxes, charges, and accrued interest to the new lienholder, not to the City. The amount the property owner owes automatically increases once the lien is sold, because the lienholder is entitled to receive a 5% surcharge on the entire lien amount, plus 18% interest, compounded daily and payable semi-annually. The property owner may also be responsible for paying other administrative costs associated with the lien sale; for example, legal and advertising fees.
1 vote Thank Flag Link Wed Apr 20, 2011
Mitchell Hall, Real Estate Pro in New York, NY
Hi Troy!

I've been digging around researching property tax liens as well, although my searches have focused primarily outside of NYC.

As you probably already know, the availability of property tax lien certificates (and the laws governing them) vary widely by state and county.

If you haven't already done so, I would recommend picking up a copy of "The 16% Solution" (make sure you get the updated version), and reading it carefully. It's not exhaustive, but it has quite a lot of useful information and resources.

Good luck!

0 votes Thank Flag Link Sun Dec 22, 2013
you must have a tax lien certificate list first
0 votes Thank Flag Link Wed Nov 13, 2013
New York City Tax Liens are sold as a bulk sale to one buyer. You will not be able to buy NYC Tax Liens.

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0 votes Thank Flag Link Thu Sep 6, 2012
Tax liens are definitely tricky and it's a competitive investment market in Manhattan as there are less foreclosures and failed payments here. Queens is probably a great place to check out as the foreclosure rate was quite high compared to the other four boroughs. I do believe there are auctions that are held here that you can bid on such auctions and would search local papers for those.

Hope that helps!

0 votes Thank Flag Link Wed Apr 20, 2011
Yes, it can be complicated, therefore do consult with an attorney...
0 votes Thank Flag Link Sat Apr 16, 2011
Sorry, I didn't explain clearly before. I'm interested in purchasing liens for investment purposes. It seems like this is perhaps more complicated in NYC than it is elsewhere.
0 votes Thank Flag Link Fri Apr 15, 2011
the same procedure almost for any state
Flag Wed Nov 13, 2013
Are you referring to tax lien certificates, if so do consult with an attorney who specializes in such matters and inform yourself well...
0 votes Thank Flag Link Fri Apr 15, 2011
A tax lien is a lien against the property. you can pay off a tax lien against property you own or find out what the lien is against a property you wish to purchase. Please clarify?
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0 votes Thank Flag Link Fri Apr 15, 2011
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