TAX FORFEIT/COUNTY FEE LAND SALES


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LAKE COUNTY TAX FORFEIT LAND SALES

FREQUENTLY ASKED QUESTIONS

 1.    What is the date, time and location of your tax forfeit land sales?

Tax forfeit land sales are usually held at 10:00 a.m. at the Lake County Courthouse in Two Harbors, Minnesota. They are held on weekdays.  Auctions are usually held once or twice a year.  The only way tax forfeit lands are sold is at a public auction.

 2.    When and where are your tax forfeit land sales advertised?

Auctions are advertised in the official county newspaper, currently the Bayside Journal.  The list of lands is published once a week for two consecutive weeks, the last publication to be not less than 10 days previous to the commencement of the sale.   Sale notices are also posted on the Lake County Website approximately 30 days before the sale.  www.co.lake.mn.us    Land Sales area.

 3.    How and when do I register for a land sale?

Sign in on the sale day and receive a number that allows you to bid.

 4.    What type of payment is required at the sale?

Personal check, cash, cashier’s check, or money order.

 5.    Is payment in full required on the day of the sale?

No, many sales require 20% down and 4 yearly 20% payments with 10%interest.  Each sale lists terms.

 6.    Does the county offer a financing program?

See above.

 7.    What type of document is acquired through the tax forfeit land sale?

A tax deed is issued through the Minnesota Department of Revenue.

 8.    Once the property is acquired through the tax forfeit land sale, is there a redemption period before you can take possession?

Once tax forfeit property is sold in Minnesota, the repurchase privilege does not apply.

 9.    Do you allow investors to invest at your tax forfeit land sales without attending the auction?

Sealed bids are allowed.  They must meet the minimum and they are opened at the auction and become the first bid.

 10. What happens to the properties that do not sell at the auction, can they be purchased directly from the county?

Yes, unsold parcels can be purchased over the counter for 180 days.  After 180 days they are automatically removed from the sale list.