Debtors often lose real property pre-petition for failure to pay property taxes to their local taxing authority. If a debtor is delinquent on property tax payments, the local taxing authority will place a lien on the property. If the debtor fails to pay the delinquent property taxes after given an opportunity to remove the lien through payment, the taxing authority will seek to recover the delinquent taxes and satisfy the debt owed to it through a foreclosure and sale of the property. Many real estate investors specialize in acquiring property at tax lien foreclosure sales, which often allows investors to obtain property at a price below market value. However, the investment transaction is not risk-free.