When you purchase secondary tax liens that are ready to foreclose from another investor, it increases your chance of owning a property. Those investors or agents that buy the lien, just get it for the return of profits. Furthermore, some of them are not really interested in owing that particular property. Why is this so? It is because they may be investing from another country or a far away state. Also, they just want to pay the foreclosure costs and flip the property afterwards.
So, what type of secondary lien is worth looking for? When purchasing one, look for a tax lien agent that purchases liens for individual investors like you. Avoid huge institutional lien purchasers because they are not that keen in doing due diligence on each property. It is because they buy in large quantities. They also do not supply to small investors.
The benefit you get from a tax lien agent is getting the assurance that he would look carefully into each lien bought. When you have purchased a lien from him, take note if it is about to expire. Doing so avoids the danger of losing your precious investment. Then, you can go ahead and begin the foreclosure process when the lien is ready for it. This is why secondary tax liens are a worthwhile investment if you are planning to own a property as a new home.