Deed Auction – Ask The Right Questions
A deed auction is known by several names, and a deed auction can have several meanings. Arguably the most common meaning of a deed auction is simply a property auction in which the property is being sold for taxes. But there are some things you need to know before you make this commitment. One question that’s vital is what kind of deed you’ll be getting in return for your bid. It sounds like a good deal for the bidder. You put in a bid on property and can sometimes purchase it for the price of the property taxes (or other taxes) owed against it. Here’s how the process usually works. The county that is owed the taxes will post a notice of the impending sale of the property. Typically, it’s advertised in the newspaper of general circulation in that county, but it may be advertised in multiple media outlets. Some counties also post notices at the courthouse on upcoming deed auction events. When you see a piece of property that you’re interested in, you will usually place a sealed bid for that property. Some counties may hold live public auctions, but sealed bids seem to be the auction method of choice. After the deed auction is completed, the winning bid will be announced. If you’ve won the property, you’ll be granted a deed immediately upon payment. Note that you should have financing already in place if you need that service. It sounds like a good way to get a great deal, and it is, but there are some questions