Tax Sale Guide Home
How The Tax Sale Process Works
Chapter: INTRODUCTION
Step 1 – View Free Tax Sale Listings Weekly:
View weekly listings of tax sale properties. Visit www.taxsaleproperty.org for free listings. Select any number of properties you may be interested in.
Step 2 – Research Properties :
You found a few properties you may be interested in.
Research the properties you are interested in. Start by viewing google maps of the property. View publicly available photos online. Consider a trip to the general area.
Tender packages are available from each municipality for each sale. Consider a tender package for under $10.00 dollars if you are moderately to seriously interested in a property. It will provide additional basic information.
Step 3 – Further Research:
You are seriously interested in a property and are almost ready
Investigate liens and outstanding claims. Most liens will be removed at the time of sale but federal liens will not. Determine what type of liens, are present on owner/property (if any).
Step 4 – Bidding:
You have researched the property and you intend of making a bid.
Determine the type of sale. The most common is a tender sale where bids are submitted before hand with the highest bidder winning the chance to complete the sale. This information is included in the original listings.
Determine your bid value. Based on your research determine a bid value you are comfortable with. Never bid more than you can afford because pulling out of a tax sale will result in your losing your initial deposit.
Get your money order (or type of payment) together and ensure it reaches the city before the cutoff dates. Consider sending in slightly more than 20% of your bid for your initial deposit.
Step 5 – Winning
You have placed a bid and you have been notified that you were success.
Congratulations on your new property. Quickly get in the remaining money you owe. Now the city can transfer title of the property to you to do as you wish. Outstanding mortgages have been removed.
Go visit your property for the first time.