Tax Deed Sale Surplus, Excess, Overbids – Unclaimed money being held by the county

Tax Deed Sale Surplus, Excess, Overbids – Unclaimed money being held by the county


Welcome to the video for unclaimed money
held by counties. There are different types of property which
is held by counties not the state, so these things will never
show up in the search results States unclaimed property websites. In
fact most people don’t even know counties
have their unclaimed property division in there regulated by different laws and
have certain limited requirements that they need to fill in order to
notify people about the unclaimed property. If a person does not claim their property
in a set amount of time the property reverts to the county can
never be claimed by the rightful owner. Therefore counties typically do very
little to find people. Two particular types unclaimed property
held by counties are called tax deed sale surplus or excess or overbid and foreclosure sale surplus or excess or overbid. First let’s discuss the tax deed sale surplus. For example your own home you have
fallen behind on your property taxes. You over 7,000 in taxes that you cannot pay. The county will take your home and you
move out. Time goes by and the county sells your home at an auction to the highest bidder. The auction has a starting bid of the amount you owe in property taxes.
In this case $7,373 dollars. Your home has a value
of $236,375 dollars so the bidding goes quite high. In this
case the final bid was $170,000. So you owed $7,373 the home sold for $170,000 and that leaves a surplus of $163,000. Guess who is entitled to receive that
overage… YOU!! By the time the auction takes place, you
have moved on to another residence. The county is required to notify you
that you are owed that money, so they mail a certified
letter to your last known address. Guess where that is? Yep… it’s the home
moved out of many months ago or even a year ago. So
the letter is returned to the county undeliverable and the deadline for you to put in a
claim is looming ahead. The county has fulfilled their
requirements and you have no idea you have $163,000 sitting in their pocket. Look at these real
examples of tax deed sale excesses that are sitting
unclaimed right now. There are tens of thousands of dollars
sitting there about to be released forever into the county’s pockets and those unfortunate people have no
clue it even there for them. Because at the circumstances why
this money is unclaimed the person likely really needs it. Another example is if your home was
foreclosed. If the home sells for more than what you owe, you are entitled to that overage. If you feel any of the situations above
relate to you or a relative please visit w w w . i F i n d F u n d s . c o m click on Search and then choose
County for assistance on searching for tax deed sale surplus or foreclosure surplus. We are also available for hire if you
would like us to perform your searches for you. Just click on “Need Help” and follow the instructions for hiring us. Don’t forget there are many other types
of unclaimed property out there. Don’t just stop at your state’s
unclaimed property website, it goes much deeper than that. Please share
this video with anyone you think may have the type unclaimed property mentioned in this video

2 Comments

  • Tax Deed Surplus & Unclaimed Property

    April 26, 2014

    If you have lost a home due to delinquent taxes or foreclosure, please watch this video. You may have tens of thousands of unclaimed surplus money due to you. It's being held by the county and will never appear on the state's unclaimed property website.

    A lot of counties have deadlines also, so you could be handing over your money to them without even knowing.

    http://www.iFindFunds.com

    Reply
  • Yvenst Simonis

    May 5, 2014

    What if the previous owner "redeems" their property?  Would the tax deed surplus "still" be there for the taking?

    Reply

Leave a Reply