if i purchase a home at a tax sale, do i get immediate possession?

Answer 1

Usually you do not; especially if someone currently is in possession of the property. Actually, you need to get legal advice in your state. Normally, when you purchase property from a tax sale, you have to first purchase the tax certificate after payment. The owner has the right to redeem this certificate through payment, at a pretty high interest rate. You make this interest as a "perk" of your investment.

However, if the owner does not redeem the certificate, then you are issued a tax deed after the necessary time has lapsed by the county or appropriate governmental entity in your state. Up to you to file legal action to clear title, especially if there is anyone in possession of the property, other lien holders or mortgages, etc. That's the only way you can assure yourself that you will have a valid, clear, clean title to the property.

Answer 2

Possibly and possibly not. It depends on your state law. In my particular state, even if a house (property) is sold at a sheriff's sale due to delinquent taxes, the owner still gets a redemption period after the sale during which he can pay off the back taxes and retain ownership of the property.

You will need to check the state statutes for the area in which the property is located.

Answer 3

Probably not. The owner usually has a certain length of time to reclaim the property, meaning pay the back taxes. It might be a few years. Call the sheriff's tax office and ask.