Comments on: What Is A Tax Sale http://bankreotraining.com/tax-sales/what-is-a-tax-sale/ All you need to get REO properties Mon, 19 Apr 2010 12:09:00 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Reo Trainer http://bankreotraining.com/tax-sales/what-is-a-tax-sale/comment-page-1/#comment-23 Reo Trainer Mon, 19 Apr 2010 12:09:00 +0000 http://bankreotraining.com/?p=37#comment-23 If you purchased a tax lien certificate then you do not have any rights to the property so you cannot tear down the structure. The redemption period is two years in Illinois, but you can extend it to three if you wanted. After the redemption period is over you can start the foreclosure proceedings to obtain the deed to the property. Once you have the deed you can then tear the structure down. Contact the county tax collector to find out what is required to foreclose on the property. I hope that answers your question. If you purchased a tax lien certificate then you do not have any rights to the property so you cannot tear down the structure. The redemption period is two years in Illinois, but you can extend it to three if you wanted. After the redemption period is over you can start the foreclosure proceedings to obtain the deed to the property. Once you have the deed you can then tear the structure down. Contact the county tax collector to find out what is required to foreclose on the property.

I hope that answers your question.

]]> By: Cheryl Clark http://bankreotraining.com/tax-sales/what-is-a-tax-sale/comment-page-1/#comment-22 Cheryl Clark Sun, 18 Apr 2010 21:18:11 +0000 http://bankreotraining.com/?p=37#comment-22 I live in ILLINOIS and bought property at a tax sale & received a tax sale certificate. I want to tear down the structure on the land and clear it off, since it connects to my property. I have heard that you have to wait 3 years to get a deed before you can do anything to the property. I wondered if that's true and if you have to get a deed to remove the dilapidated structure on it. I live in ILLINOIS and bought property at a tax sale & received a tax sale certificate. I want to tear down the structure on the land and clear it off, since it connects to my property. I have heard that you have to wait 3 years to get a deed before you can do anything to the property. I wondered if that’s true and if you have to get a deed to remove the dilapidated structure on it.

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