Glossary

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Tax Sale
A tax sale is when the government sells a property because the owner has failed to pay the taxes on it. This is a common procedure when someone passes away and the family cannot pay to keep the house. The property is sold at an auction. Anyone can attend the auction and bid on the property. People who are looking for an inexpensive home to buy or a home to remodel can get a home in this way and save a lot of money. In order to purchase a home that is sold at auction, one needs to have the money to give to the person in charge of the auction; this can be in the form of cash, check or a credit card. After the payment is made, the paperwork can be processed, and the new owner can move in.