What type of ownership document is issued at the auction?
A receipt evidencing your bid amount and your deposit amount will be provided the day of the auction. Upon the Court’s confirmation of the sale, you will be notified of the remaining amount due for your bid, if any, and the costs necessary to be paid for the recordation of your deed.
What happens to the properties that are not sold at the auction?
If the properties do not sell at the auction or if confirmation of the sale has been denied by the Court, the property may be advertised again and the sale process will be attempted for a second time.
How do I find out the results of an auction, including which properties were sold to whom and for what amount?
The information is public record and can be found in the records of the local Circuit Court Clerk’s Office. The information is contained in the Decree of Confirmation.
Can a previous property owner reclaim property after I have purchased it at the auction?
Maybe. There is a short redemption period to allow the previous owner to be heard by the court. TACS cannot provide any legal advice regarding this matter, except to advise you to seek your own legal counsel if you are unsure about the redemption period applicable to the property.