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Updated over 8 years ago,
Tax sale- How do they work?
Hi everyone,
I got a lead on a property owned free and clear. It's a 2 unit building with tenants that are currently not paying rent in a B neighborhood. When I spoke to the owner, she said someone bought the pin or the taxes on the property.
I'm not really sure how a tax sale works. Does the sheriff auctions the property just like they do with foreclosures? Is taking title on the property any different than a regular sale? I'm assuming I'll have to pay at least taxes+ interest to the person who bought the taxes.