![]() Most title companies will not provide title insurance until the redemption period is over, making it very difficult to resell your newly acquired investment property until that time. This redemption period may be as short as 180 days or can last for years. For a specified period of time, depending on the type of property, the delinquent taxpayer has the right to buy back, or “redeem”, the property at a premium. ![]() The winning bidder does not have a clear title, but instead takes subject to the homeowner’s right of redemption. Once a bidder is successful, he or she receives a Constable’s Deed to the property, but is not guaranteed ownership. But, while foreclosure sales may seem like a quick and easy way to get a great deal on an investment property, those who don’t adequately research the title before buying can find themselves saddled with more than they bargained for. This is in large part because in Texas, a successful bidder at a tax sale will either acquire full ownership of the property, or collect a large interest premium from the redeeming homeowner. Gaining particular interest from investors are tax foreclosure properties. With property value increasing in Collin County, there has been a surge in those interested in investing in real estate.
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