Due Diligence For Tax Deed Sales
For tax deed foreclosure auctions, not tax lien auctions, I understand you are buying the deed. The training materials I have say you have to make sure there are no federal liens (FHA, VA, HUD, and IRS), since these are not extinguished in a tax foreclosure. In practice, how do you do this? Go to the county courthouse? Does each property have a file with all the liens listed? Also, is it possible there are unrecorded federal liens (e.g. IRS) and what if it is recorded shortly after the auction? Also, are there other types of liens to look out for that are not extinguished at foreclosure? Finally, I am told there are all kinds of exceptions and rules to know that vary by state to state. What are some examples of things to look out for? I am in NY but am interested in all states. Thanks for all help!![ Edited by cmp301 on Date 07/06/2003 ]
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