Posted by Mike Oldfield on April 22, 1999 at 17:56:03:
In our area the county treasurer offers clear title to the buyer at these tax sale auctions. All other liens are wiped out. There pokicy is that they like to get the back taxes and they have the right to refuse offers below the taxes owed but they typically will take whatever they can get.
I have purchased a property assessed for 90K actual FMV was closer to $40K for $15112 at auction. I was the only bidder. Naturally if there is competition at the auction you cant get a good deal if the other person is an idiot bidding FMV.
Just in case I always bid (Never for the total back taxes always less) If you are the only bidder, its yours. If not, oh well. My mother always said, nothing ventured nothing gained.
P.S. Call the county treasurer in your area. They will tell you there policy and explain what type of title they offer. Its simple and only takes a few minutes