Tennesse Tax Certificate sale

[Robert Ruiz]

Hi 

I have used Civic Source one other time to purchase tax Lien Certificates, and was curious if anyone knew of how the Tax Certificate sale in the Memphis area on the 19th will work. From what i gather, it will not be a sale with a Percentage winner, but actually more of a "Highest bidder" like a regular auction...

Thanks

[Douglas Skipworth]

Hi, @Alex Craig.

Great questions!  I have to answer succinctly right now.

The tax sale wipes out all other liens.

Title insurance is very difficult to obtain on properties purchased at tax sale.

Yes, several times the former owner "redeemed" the property within the redemption period and we received our money back plus interest (prorated 10% annual).

At the end of the day, I quit participating in tax sales because it was easier to find other properties that didn't have the waiting period or the title insurance issues.  

That said, several of the best deals we ever found were purchased at tax sale.