Cook county tax sale
Hi all! Can we talk about the cook county tax sale? The listings are released this week - I've put the link below
Anyone have familiarity or insight with this? I have no intention on buying anything but post this topic here in hopes of learning something.
When someone buys here, do you hold first position? If not, what's the point? I just read a 2017 federal court decision where a tax sale purchaser lost its pre-bankruptcy petition position and instead received a contractual right to (partial) repayment of the debt owed to the tax lien purchaser. The result of that case would make me stay away from this but I'd like to hear what any of you have to say.
FYI - the tax listings came out yesterday and in today's Sun Times
http://cookcountytreasurer.com/annualtaxsale.aspx