Questions On Cook County IL Scavenger Sale
Our scavenger sale is currently going on and I am attending as part of my education. I am picking up most things but a few things still confuse me.
These are liens that were not bid on during at least past 2 annual tax sales. The mortgages do not get extinguished if you get the deeds on this one.
Q#1- Some of these are seemingly valuable properties but the taxes have not been paid for 10+ years but no one bids on them. How can they get away with never paying?
Q2- Looking at a specific property, it is a $250K condo with a $5K tax lien and a $185K mortgage. Seems reasonable to bid on. What is strange is that the current owner who bought in 2002 is listed as owing the tax from tax years 97 and 98. How can this be? The property was sold twice since 2000 but the taxes remain unpaid? Thought they were always paid at closing. Also, how can the current owner by liable and possibly lose his property over taxes that were not his?
Thanks
Eric
A1: Noone seems to want the property.
A2: The taxes are always due and payable. Does not matter who the private owner is. Prior owner might have sent a bad check that they initially thought was OK. Or it could be a mistake and you will get an administrative sale in error.
My guess is the owner will redeem you out after the statutory Section 22-5 notice.
Good luck!