Tax Sales For Property Coming Up For Redemption
This database contains those properties that have been sold for taxes at a previous time and are about to reach the end of the redemption period.
- The redemption expiration period means that the person that has the tax lien, on the property, can actually apply for a deed.
- Typically we give between a 60-90 day window before these properties will be redeemed.
- These properties are often selected by mortgage companies or investors in an effort to refinance them and assist them in avoiding losing their property through the redemption process.
- These lists are compiled on a daily basis and offered on our website to our customers on a weekly basis.
We compile these Illinois Tax Sales for the following counties:
- Cook County Illinois Tax Sales
- DeKalb County Illinois Tax Sales
- Dupage County Illinois Tax Sales
- Kane County Illinois Tax Sales
- Kendall County Illinois Tax Sales
- Lake County Illinois Tax Sales
- McHenry County Illinois Tax Sales
- Will County Illinois Tax Sales
- Winnebago County Illinois Tax Sales
FAQ ABOUT TAX SALES
What is a Tax Sale?
Tax Sales are held yearly by county governments in order to recover the lost income from delinquent taxpayers. When you purchase at the Tax Sale, you are purchasing real estate taxes, not property. Tax Sales are held at different times of the year, or more often during the year, depending on the county.
What exactly am I buying at a Tax Sale?
You are paying the taxes to the county on behalf of the delinquent homeowner.
What happens at a Tax Sale?
Taxes are sold in an auction process through either verbal or sealed bids. The bidder that bids the lowest amount of interest wins a lien against the property. To redeem their taxes, the homeowner must pay the county the amount of delinquent taxes, plus the amount of interest that the successful bidder established, along with all penalties and fees that have incurred due to late payment. If the homeowner pays the lien before the reception date, the taxbuyer may receive their principal back plus collect an interest rate. If the homeowner does not pay the lien before the redemption period, the taxbuyer must petition the Circuit Clerk for a tax deed on the property, after first fulfilling all of the legal requirements, and take title to the property.
In Illinois, there is a 2 year redemption period before the investor can file to take title to the property. Illinois has one of the highest interest rates on tax sales in the country, with the maximum being 18%. However, the average successful interest rate bid is usually 0%-4%.
Tax Sale Investing can be a complex process. It is recommended that you seek legal advice before considering purchasing Tax Sales.
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