How are Tax Sale Properties disposed of?
These properties are disposed through public auctions or public tenders. At a public auction, you simply show up on the announced date and, as at any other auction, you bid on any property you are interested in. As with tenders, the highest bidder is the successful purchaser of the property. With public tenders, you essentially fill in a prescribed form on which you state how much you are prepared to pay for a particular piece of property. Your tender is then put in a sealed envelope, along with a percentage deposit of your tender amount, and brought or mailed to the municipality concerned. On a predetermined date your tender is opened and, if you are the highest bidder, you are the successful purchaser of the property. 2. What happens to the deposit when he or she submits a tender to purchase ? All deposit will be return back except the 1st and 2nd highest bidder.If the highest bidder follows with his or hers agreement with the tender to purchase. He or she 2nd highest bidder will the
