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How Do Tax Deed Auctions Work?
Tax deeds are then sold at auction in an effort to quickly recoup thelost tax revenue.
No Negotiating
While buying a traditional home requires negotiating, atax deed propertyis a simple auction.
Theres often a redemption period that allows homeowners or even the lender to catch up on back-owed taxes.
If payments are made before this period has ended, the sale is canceled.
The Property Is Sold As-Is
Like all auction properties, a tax deed property is sold in As-Is condition.
This could lead to you paying for expensive hidden repairs and unknown costs.
What Is the Redemption Period?
If the auction is canceled, you would receive a full refund of any amounts paid for the auction.
While tax deed sales arent for everyone they can help you get a property at a low price.
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