|
Tax Deed Sales in New Mexico NM
New Mexico is an okay state for tax deed sales.
Interest Rate
No interest rate, as the state only conducts tax deed sales.
Redemption Period
Varies, but 2 years is the period of time the former owner has the right to challenge the ruling in court.
New Mexico Tax Lien Certificate Auctions
No tax lien auctions, only tax deeds are sold.
New Mexico Tax Deed Sales
New Mexico tax foreclosure or land sales can be frequent, but do not have to happen at a set time. Some counties have sales 4 times per year. Properties are usually offered when the number of delinquent taxpayers gets large enough to justify a sale.
Bidding Process
Bidding process varies among counties and municipalities, but generally competitive bids are used with a beginning price that is approximately equal to the taxes owed.
State-Specific Information
Each county sets the rules. Be careful in New Mexico because unlike most tax sales in other states, mortgage liens may not be removed by the tax sale.
Visit this resource to learn more:
|
