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Government Tax Sales

What is a Government Tax Sale?

The sale of a tax deed or a tax lien on a property by a government authority to satisfy the non-payment of taxes.

Government Tax Sale Process

In order to pay off delinquent property taxes, accrued interest and associated costs, a government authority will offer for sale to the public a tax lien or a tax deed to a property. The process starts with the publication of notices by the tax authority providing property description, the owner�s name, the amount of taxes due and the delinquency period. These notices serve to inform the property owner of the action being taken against it and to also provide the public with information on the tax sale.

In the case of a tax lien, usually the delinquent property owner is given a period of time to remedy the default and stop the action being taken against it. Should the owner not remedy the situation within the prescribed delay, foreclosure proceedings would be initiated by the tax lien holder to acquire ownership of the property. In the case of a tax deed sale, usually the owner has the right for a specific period of time after the tax sale to repurchase the property. If the property is not repurchased as prescribed, the right to repurchase expires.

Government tax sales are generally open to the public to ensure a fair market price is obtained. Anyone not disqualified by law is eligible to participate in a tax sale. In most cases the a tax sale is made to the highest bidder.

Benefiting from Government Tax Sales

Real estate agents and investors can benefit to a great extent even before a tax sale is conducted. A published tax sales list can be used to contact delinquent owners to see if they are motivated to sell. Older lists may be used to locate owners looking to flip their newly acquired properties.

Government tax sale investors can profit from high returns on their investments, whether they end up being the ultimate owners of the properties or not. It is essential though, to prepare by properly researching and familiarizing ones self with the issues surrounding each tax sale.

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