What are the risks of buying at a county tax assessor's auction? What restrictions occur? thanks

Submitted by Kat from CA - 02/22/2010 - 4:42pm

What are the risks of buying at a county tax assessor's auction? If the winning bidder, restriction occur? Which loans does this type of auction wipe out- which ones continue?

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Submitted by Michelle - 03/11/2010 - 5:00pm

Tax lien sales do have a redemption period (typically 2-3 years) but you would earn interest on your money during that time (usually a very high rate). Tax lien sales are rare (if any) in California but very popular in states like Texas. Any lenders with an existing Deed of Trust would have the ability to protect their interest by paying the back taxes during the redemption period.

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