Frequently Asked Questions

After a tax deed sale, the winning bidder pays the total amount owed by the previous owner, including outstanding taxes, interest, penalties, and fees. The opening bid at the auction is set at this amount. Any amount paid by the winning bidder beyond the total amount owed is considered surplus, which is held by the county. The county notifies the owner, mortgage holders, and lienholders of the property of the sale and the surplus funds by the addresses on record. Surplus funds are held by the county for one year before they are, usually, transferred to the state.

A tax deed sale is a county-led public auction of real estate property that occurs when the owner of the property fails to pay property taxes. The property is sold to the highest bidder, and the winning bidder receives ownership of the property.

A tax deed sale occurs when the owner of a real estate property fails to pay their property taxes for one or more years. After two years from the year of the unpaid bill, the county may place the property up for auction in a tax deed sale, but is not required to do so. Sometimes, the property is not put up for auction until many years since the delinquent tax bill. The highest bidder at the auction receives ownership of the property.

Properties at tax deed auctions are acquired by various entities, including individuals, investors, companies, and larger investment firms. Once the winning bid is paid, the county issues a tax deed, officially transferring ownership of the property to the purchaser. Should you wish to repurchase the property, it will be necessary to contact these buyers, who will typically expect a profit on their initial investment. Negotiations will be conducted with the buyers to arrive at a mutually agreeable arrangement for the property’s repurchase.

The county is responsible for notifying property owners about upcoming tax deed sales. However, it’s important to note that the county is only obligated to send the notice to the address on file with the tax collector or tax appraiser. This address may be the foreclosed property itself. The county is not required to conduct additional searches or extensive measures to locate the current address of the property owner.

Our firm get information on due parties for additional funds directly from the county. By law they have to notify due parties that the funds exist. Bronze Asset Recovery get a list from the county and helps them find due parties.

Bronze Asset Recovery is your trusted partner when it comes to recovering tax auction surplus funds. Our specialized expertise focuses on preventing unlawful claimants from taking your funds and maximizing your chances of a successful recovery. With our extensive training and commitment to reliability, honesty, and excellence, we provide the guidance and assistance that counties may not be able to offer. When you work with us, you can be confident in achieving the best outcome for recovering your funds.

Once you decide to engage Bronze Asset Recovery for surplus claim recovery, we handle document preparation and hire a local notary for formal agreement signing. The notary returns the documents to us, and we submit all required paperwork to the county. If probate is needed, we engage a specialized attorney to coordinate the legal process with you and our team.

Bronze Asset Recovery operates on a contingency basis, meaning we are only compensated upon successful retrieval of your surplus funds. Our payment is determined as a percentage of the retrieved surplus amount, as agreed upon in the contract with the client. All costs associated with the recovery process are covered by our firm from the agreed-upon percentage. As a result, our clients do not incur any out-of-pocket expenses.

Depending on state regulations, counties are typically required to observe a mandatory waiting period of 120 days from the time of the auction sale and surplus notification before dispersing funds. This waiting period allows for any potential legal processes or claims related to the surplus funds to be addressed before distribution. It ensures that all necessary procedures are followed and provides adequate time for interested parties to come forward and make any applicable claims.

In situations where the owner of a property is deceased, it becomes necessary to initiate a court-supervised probate process. This process serves several purposes, such as identifying the assets and debts of the decedent, establishing the rightful heirs (beneficiaries), and facilitating the distribution of assets to those beneficiaries.

To obtain surplus funds from tax deed sales for heirs of a deceased owner, it is typically required to undertake a probate process and submit the resulting court judgment to the county. Bronze Asset Recovery takes on the responsibility of managing the entire process, which includes engaging a probate lawyer specializing in such matters. The lawyer prepares the required documents and collaborates with the court throughout the probate proceedings.

The duration of a probate process can vary, typically taking between one to two months, depending on the complexity and the number of parties involved. Once the probate process is initiated and the court judgment is obtained, it is submitted to the county to facilitate the surplus claim on behalf of the rightful heirs.

You absolutely can.

While it is indeed possible to submit a surplus claim by yourself in non-probate cases, Bronze Asset Recovery offers valuable experience and expertise that can significantly enhance the outcome of the process. Dealing with surplus claims involves numerous challenges, including fulfilling various document requirements, addressing competing and potentially fraudulent claims, adhering to statutory time limits, and managing other administrative issues.

By engaging Bronze Asset Recovery, you benefit from our extensive knowledge and understanding of the surplus claim process. We work directly with the county, taking on the responsibility of handling all aspects of the claims processing. This includes addressing any issues that may arise, monitoring status changes, and undertaking all necessary actions to ensure the successful retrieval of your surplus funds.

Our expertise allows us to navigate the complexities of the process effectively, maximizing your chances of receiving the surplus money to which you are entitled. By entrusting your surplus claim to Bronze Asset Recovery, you can rest assured that we will diligently advocate for your interests and provide the necessary support to achieve the best possible outcome.