government e auctions

Government Tax Auction Types

Buy Government Tax Lien and Tax Deed auctions - Different types

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Government Tax Auctions

Government Tax Auctions Types

Before you are allowed to bid at auctions, you will need to register. Some states require you to register before the day of the sale with the County Tax Collector or County Treasurer. This may require you to fill out some paper work and provide them with a taxpayer ID number. Other states may let you register on the day of the auction. In this case you will want to show up at least an hour in advance to make sure you have plenty of time before the bidding begins. Payment for successful bids is usually in the form of a cashier's check, money order, or cash. Personal checks are almost never an acceptable method of payment. Make sure to have your payment method worked out prior to attending the auction. If you are unable to pay immediately following the auction, the property will most likely be re-auctioned and you will not be able to participate.

There are a few different types of auction processes at Government Tax Sales. The minimum bids are usually the only constant in all auctions. The minimum bid is the sum of property taxes delinquent, plus the interest owed and other penalties. There is almost always some sort of administrative or recording fee attached to the minimum bid as a result of the necessary paperwork done by the local government. For a description of the most common types of bidding auctions used for tax lien certificates and tax deed sales . Some states may have variations of one type or a mix of several types.

 

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