What is a Tax Deed Auction?

By dhinternational  /  July 12, 2012 / Comments Off on What is a Tax Deed Auction?

What is a Tax Deed Auction?In the United States, a property owner who does not pay his taxes religiously would face the risk of having his home taken away by the government. The delinquent property would then be put up in a tax lien sale because of foreclosure or via tax deed sales.

A tax deed sale is a common way for counties in many states to acquire their property taxes and regain lost revenues. Moreover, it is a good way for tax deed investors to get a home with huge discounts which are usually below the market value. This is great news since many people nowadays are looking for a safe and secured investment with amazing return of profits.

You would find lists of tax deed sales in your area when the county publishes it on newspapers, which is usually three to four weeks prior to the scheduled sale. However, due to the convenience that the internet provides, you can find and get these lists for free which are also scheduled for tax deed sales online.

You need to fill out a form and get your corresponding bidder number in order to participate in the auction. Some of the counties do the registration process a few days ahead of time while others on the auction day itself. Furthermore, you need to submit proof of funds as well as bring cashier’s check or cash so that you would be allowed to join.

The simple rule in a tax deed auction is that the highest bidder wins. Also, in a few weeks time receives a sheriff or treasurer’s deed from the county department in-charge of the sale. Whoever wins would be the new property owner and can choose to sell it for more money or take possession of it.

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