All Forum Posts by: Arnie Abramson

Our experience has been about 10% of them are redeemed.  They contact us, within 10 days you are required to respond with a list of redeemable expenses and we also show the 25% markup.  They pay us, we deed back to them.  Done deal.  Fairly simple.  If there happens to be a mortgage company involved, they will almost always redeem it.

When they are struck off in Texas it usually means it was sold to the taxing entity that was the plaintiff.  That starts the clock on the redemption period.    The ownership is usually divided among the entities that were party to the lawsuit.  Bruce is correct every county is different and even within each county each taxing entity may handle it differently.  To answer your question, yes you can buy it if it is struck off but you will have to find out what the rules are in that particular county and with that particular taxing entity.

What county is it?  I have bought in many of the counties in Texas and can probably help you find out how to get it done.

The appraisal district has the owner address.

It depends on the state-every one is different.  In Texas, you buy the property at the tax sale and the previous owner can redeem it-buy it back but must pay you what your costs were plus a penalty fee of 25% if in the first year and 50% if in the second year.  Obviously there is a lot more to it but that is just a quick reply.

In Texas, the amount owed will be what they paid for the tax deed at the auction plus 25% per year.  BTW, if it does not have at least one of 3 exemptions the redemption period is 180 days.  You also would probably be buying the house without a title policy if in the first two years following the sale.  This is just a few of the things you need to be aware of with that kind of transaction.  There are more.  Be happy to discuss if you wish.

Check out tax sales in Texas.  We have them every month.

What state are you in?  There are companies with all of those services in some states.

The IRS has 120 days to redeem at 6%.  My guess is that you will not get a title commitment if you intend to purchase it at a tax sale.  What state are you in?

What state are you in.  The overages laws are different in many states.