cook county

cook county

Chicago Cook County Tax Sale Auctions| What is a Tax Sale?

2d ago
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In this video I talk about Cook County Tax Sale Auctions and how they work. I also wrote a detailed blog post at http://www.soniafigueroarealtor.com/tax-sale-chicago-cook-county/ The county will offer the property up for sale at an auction as a “tax sale” to help generate the lost tax income. Cook county in this case will set up an auction date for those property owners that are delinquent on their taxes to sell the taxes owed on their property. In return the purchaser of the tax sale will receive a tax certificate. It seems a little confusing doesn’t it? Redemption Period Prior to the time of sale, the owner and any other parties with a legal interest may redeem the property and stop the sale by paying their delinquent taxes, applicable interest and publication costs. Successful purchasers at the sale are those who offer to pay ALL outstanding fees. The successful bidder must pay with cash, cashiers check or certified funds. Upon payment the purchase receives a CERTIFICATE OF PURCHASE. The certificate will ripen int a TAX DEED if no redemption is made within the statutory period. A tax deed must be recorded within one year after the expiration of the redemption or it becomes null and void. There is also a county clerk brochure for the tax sale process here: http://www.cookcountyclerk.com/aboutus/Documents/CCCO_TaxRedemption_eBrochure.pdf