We collect records from 38 out of the 67 counties (why only 38? See next FAQ). When the week begins we collect the records from all the tax deeds that are supposed to go to auction that week. From that point on, several things happen that reduce the amount of surplus records we will have at the end of the week:
- Before the auction begins many of the tax deeds are redeemed as people are paying their back taxes before they lose their home so that takes a lot out of the auction.
- During the auction, some of the tax deeds will get no bids and therefore not sell
- Some of the tax deeds DO sell but for only a small amount over the starting bid. Therefore, not enough in Surplus to go after. We offer records where the surplus is over $1,000
Now we are left with “Tax Deeds that successfully sold AND the winning bid was high enough to produce at least $1,000 in surplus”