Tax Sales are held yearly by county governments in order to recover the lost income from delinquent taxpayers. When you make a purchase at the tax sale, you are purchasing the real estate taxes on behalf of the delinquent homeowner, not the actual property. Many investors purchase tax sales at auction to obtain the right to collect the lien, plus interest, from the homeowner. If the lien is not repaid within a particular time period (called the “redemption period”), then the tax lien purchaser can go apply for the deed to the home, and oftentimes sell it for a profit. Tax Sales are held at different times of the year, depending on the county.
Our Illinois Tax Sale database contains those properties that have been sold for taxes at a previous time and are about to reach the end of the redemption period. Typically, we give between a 60-90 day lead time before the redemption expiration date.
Mortgage companies and credit issuing firms use tax sale records that are nearing the redemption period so they may solicit the homeowner for assistance in paying the back taxes before the redemption date. Attorneys and investors are also interested in our Illinois Tax Sale Database.