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All of the counties in Utah have their Tax Deed sales on the same day at the same time. Once a deed is purchased from the sale, it takes approximately 30 days for the county to send you the Tax Deed. All Tax Deed properties must be paid for at time of purchase. Some counties will allow you enough time to go to your bank if it is within an hour's time. Only cash, cashier's check or certified funds are accepted. Once a property has gone through the Tax Deed sale and did not sell, an investor can contact the county to purchase a property for the opening bid price. The county will sell a property after it has been delinquent for five years. The property owner has up until the auction starts to pay off his or her back taxes, penalties, and fees. The county will also list the Tax Deed properties in a local newspaper about four weeks prior to the sale. Auctions are conducted at the county courthouse.
Utah uses a public auction system where bids are proclaimed at the time of the sale. All participants must register prior to the sale. The most common method is the Premium Bid. The starting bid will include the back taxes, penalties, interest and any administrative costs. The property will go to the highest bidder. The second type of bidding is is the "Bid Down % of Ownership" method. The opening bid will include the back taxes, penalties, interest, and any administrative costs. The investors will bid down the ownership of the property starting at 100% of the property value. This then becomes a partnership with the previous property owner. The person willing to take the lowest percentage of ownership on that particular Tax Deed will be the winning bidder. All of the sales will be announced at least three weeks prior to the sale in the local newspaper and the county Auditor conducts the sale.
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It is recommended that you further research Tax Deed information for each given state as laws and regulations are constantly changing. We cannot guarantee that the information given here is the most current information.