Tax Deed Newbie Miami
Hello! I am new to BiggerPockets and a newbie to tax deed sales.
I had a general question, if a bid is won on a tax Deed property, is all lien associated with the property cleared/wiped off?
Thanks in advance!
Most Popular Reply
Your original question was about liens being wiped out. In Texas all the non-governmental liens are extinguished. There is one minor exception that is almost never done. Redemption has nothing to do with whether they are knocked out or not. Boyd was correct about the sale being voided if all parties with an equitable interest in the property were not notified and given an opportunity to pay and then can prove it. Reality is it almost never happens as the law firms are very diligent in performing the necessary tasks to notify but as he also said most title companies will not issue title insurance policies for at least 2 years and some for 4 or 5 years. It is for this reason that we feel it is best to buy tax deed properties in Texas with the idea of keeping them and renting them out until the waiting period is over and then decide if you want to sell, keep or cash out refi