This will be my first tax lien sale. With that said, I have a question I haven't seen addressed on this board. What happens to any money bid over the outstanding minimum bid? Let's say there is unimproved property valued at $100k, with taxes due of $15k, which in Texas would be the "minimum bid". Someone comes along and wins the bid at $25k, does the extra $10k go to the former property owner or county?
Hi John!
This will be my first sale in Texas also, I have bought tax lien certificates in Louisiana for about three years. I'm going mainly as an observer Tuesday so I will be interested in reading others reply to your question.
Good luck on your sale in Montgomery County! Write and let me know how it goes!!
Mike
I will be at the Montgomery County auction.
This will be my first tax lien sale. With that said, I have a question I haven't seen addressed on this board. What happens to any money bid over the outstanding minimum bid? Let's say there is unimproved property valued at $100k, with taxes due of $15k, which in Texas would be the "minimum bid". Someone comes along and wins the bid at $25k, does the extra $10k go to the former property owner or county?
Thanks.
Hi John!
This will be my first sale in Texas also, I have bought tax lien certificates in Louisiana for about three years. I'm going mainly as an observer Tuesday so I will be interested in reading others reply to your question.
Good luck on your sale in Montgomery County! Write and let me know how it goes!!
Mike