Tax Sales/Auctions - Redemption Period???
Is anyone here pretty familiar with tax sales/auctions ? The question I have relates to redemption periods. When you actually aquire a property at a tax auction and the redemption period kicks in (ie-6mos, 4yrs, etc.) does this mean you cannot continue investing (ie-lease, lease option, etc.) until the redemption period ends?
I don't know how other states work, but in IN until the redemption period is over - All you have is a lien on the property.
During the redemption period, is when notices are sent out and you petition the court for a tax deed.
Until the tax deed is issued, the lien may be redeemed thus removing your interest in the property.
Hope this helps!
dwynkoop is right, the redemption period, expires the moment the new deed is issued, at least in Florida, you can be the highest bidder but the owner or anyone else can redeem before the deed issuance
In Maryland you cannot go near or do anything to the property untill the redemption expires