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Updated about 10 years ago on . Most recent reply

Tou V.'s profile image
Tou V.'s profile image
Tou V.
  • from Stockton, California
  • Member since Apr 22, 2014
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Tou V.'s profile image
Tou V.'s profile image
Tou V.
  • from Stockton, California
  • Member since Apr 22, 2014
Connect
Tou V.
  • Stockton, CA
13
Votes |
93
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Tax Liens & Mortgage Notes

How does public tax auction work?

Tou V.
  • Stockton, CA
Posted

Just wondering how does public tax auction work?  If I win at one of these auction do I get title (become legal owner) of properties?  Does the previous mortgages get cleared out, considering the lender had years to redeem the property and avoid the tax auction?  I've seen some houses going to auction for $20k and the winner bidding only $40k for a house worth at least $120k.  Anyone with experience with this?  Thanks. 

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