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Online Tax Deed Auctions Made Easier
The internet has made a huge impact nowadays on how we make transactions, buy things, socialize with friends, games, as well as communicate to other people. This goes the same with purchasing tax sale properties.
Online biddings and buying of properties is popular due to the benefits of doing it in the comfort of your own home. After checking out the available properties you acquired from the respective county websites, you need to learn the requirements of the sale, and the procedure of the bidding. Back in the old days you need to conduct almost everything personally. From asking around the requirements, bidding, and locating the proper people associated with the tax sale. Today however, you can readily use the internet to check updates and other online notifications from your local county. Also, interacting with fellow investors for some tips, and with the local government holding the tax deed auctions are now a breeze.
It saves you a lot of time and effort using the internet for tax sale transactions as more county offices now allows its people to transact online. This also makes it easier to pay the necessary charges without the need to go to the auction.
Upset Sale and Its Definition
Did you know that there are some counties in the United States that hold an upset sale? And what does this term mean?
When properties in the tax sale are not sold at an upset sale, it goes on the storage list and can be sold to interested buyers at a private bidding process. Then why it is called an upset sale? It is because the minimum bid required in this type of sale is also known as the upset price. This includes any unpaid taxes as well as any municipal liens from the county. Pennsylvania is a good example of a state that conducts an upset sale and is held in the fall every year.
All properties included in the upset sale are subject to any liens when sold. This basically means that you’re responsible for any other unpaid lien on the property when you buy its tax deed. This is important information to take note. It is because there are investors who assume of not worrying about other liens the moment they have bought a property at a tax sale. So, if you plan on bidding at an upset sale, make sure to do due diligence.
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