Cook County IL Scavenger Sale Question
To all who have participated in or observed the biannual scavenger sale:
The minimum bid for each parcel is $250. If I am the highest bidder, do I only pay only the winning bid amount or am I then obligated to pay off the delinquent taxes on the property as well?
There is a fee called sale indem fund which would be around 5% of the delinquent taxesnull
Fotoskif I don’t think I will be going to the biannual scavenger sale as I live to far away and those savvy folks would eat me alive so to say. But I am curious. Just what it this thing. Anywhere we can go online and read about it
Fotoskif:
The minimum bid is $250. The actual amount you will pay is $485 (which includes all the fees).
The law guiding the scavenger sale is ILCS 35/200 further know as the Illinois Property Tax Code.
Good luck!