The value of the property under a tax lien could be worthless or have a very low value. Maybe the property owner has not maintained the property, or it’s been damaged by a natural disaster. If you buy the lien and are forced to go through the foreclosure process, you may spend time and money on an asset you’ll have to pay property taxes on and will likely have trouble selling. The foreclosure process can also be slow, and the property value can drop during this time. Be sure to do your homework on the specific property and the real estate market in the area surrounding the property. Finally, if the property owner files for bankruptcy, the tax lien could be considered one of the debts they owe, and the lien could be tied up in bankruptcy proceedings for a long time.