Tax deed sales are property auctions conducted by counties in the state to recoup unpaid taxes and associated fees and interest penalties.
If an owner does not pay their property taxes for a single year or more, the county has the right after two years from the year of the unpaid bill to place the property up for auction in a tax deed sale. However, the county is not required to do so and sometimes it is only after many years since the delinquent tax bill that the property is put up for sale at auction.
The county is required to notify the owners of an upcoming sale. However, it is only required to mail notice to the address on file with the tax collector or tax appraiser. Counties are not required to search for a current address or undertake more extensive means to locate a property owner.
The opening bid for each property in a tax deed sale represents the amount of money that the county must recoup--which includes all outstanding taxes, interest, penalties and fees. Any amount beyond that paid by the winning bidder is considered surplus. Surplus monies are held by the county. The owner, along with mortgage holders and other lienholders, are notified by means of addresses on record. Surplus funds are held by the county for one year. Afterwards, they are transferred to the state.
At Capital Recovery Services we are dedicated to recovering tax auction surplus funds for our clients and preventing unrightful claimants from collecting a portion or all your funds. We have decades of experience in this field, and an unblemished reputation for reliability, honesty and excellence. The counties holding these funds are not expert in assisting owners/claimants and are limited in their obligations (and knowledge) in providing guidance. Working with us best ensures success.
Our staff are experienced at using internet and software technologies to locate owners and/or family members. We also make use of information provided by the counties in contacting clients.
Capital Recovery Services is only paid when we succeed in retrieving your surplus money. Our payment is a percentage of that retrieved surplus agreed to in contract with the client. All costs in the process are paid by us out of that percentage. There are no out of pocket costs to our clients.
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