16 Jan Redeeming Tax Deeds in Texas
In most states offering Tax Deeds the redemption period ends usually the day prior to the actual Tax Deed Sale. However there are a few noted exceptions like for example the state of
In many counties around
The Distinction of Texas Tax Deed sales is that after the sale, the former owner still has the right to redeem the property for a time period of ½ year under normal circumstances or even up to 2 years if the property was registered as a homestead in the state of Texas.
However, if the original property owner redeems the property within this post-sale redemption period, he will have to pay a steep penalty of 25% of the high bid. So if a property sold at Tax deed sale for $20,000 and the former owner redeems it after only 1 month he will have to pay the $20,000 plus a fee of 25% or $5,000 for a total of $25,000.
So you can make as much as 25% return within only 1 month which equals an annualized return of 300% if all you do is repeat this over and over again.
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