Got Armed Guard!
If you are buying tax deeds and paying with a cashier’s check you may want to make sure that you check with the county on their policy regarding when your tax deed will get recorded. Recently we bought a property and usually the way it works is that you pay your deposit at the time you win the auction and return either that day or within 24 hours to pay the balance off. Ordinarily the clerk’s office accepts cash or a cashier’s check and they promptly record your tax deed. Well not this time at this particular auction. They are now putting a 10 day hold on cashier’s checks.
Turns out someone burned them at a foreclosure auction, perhaps they stopped payment on a cashier’s check. Now the clerk in this particular county will not issue the deed until 10 days later if you are paying with a cashier’s check unless you are paying with cash. I guess you can bring cash, but… Got an Armed Guard? — to come with.
Originally posted to Blog on 2/9/2012