What is tax lien foreclosures?

Tax lien foreclosures are a process in Washington that is used to collect unpaid taxes from property owners, as outlined in Property Tax Law. This process occurs if a property owner fails to pay their taxes for at least one year. The county that the property is located in will sell the delinquent tax to investors as a tax lien, which is a lien placed on the property to secure the repayment of taxes owed. The investor then must pay the taxes owed, with interest, and the property owner must repay the investor the principal, interest, and any associated costs in order to retain their ownership of the property. If the taxes still remain unpaid after a certain period of time, then the investor has the right to foreclose on the property, repossess it, and then sell it to recoup their investment. This process is meant to protect the county’s right to collect unpaid taxes, while also helping protect the investor’s right to recoup their investment.

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What is tax lien foreclosures?

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