The City of Pineville, Louisiana

WHAT EXACTLY AM I BUYING WHEN PURCHASING PROPERTY AT A TAX SALE?

When you purchase property at a tax sale you are buying a “Tax Certificate”. The tax certificate conveys certain rights unto the purchaser. Currently the property is placed in the purchaser’s name. The purchaser is immediately entitled to a 5% buyer’s fee plus 1% per month on what was paid until redemption. Also, the tax purchaser may try to acquire the property after three years have elapsed from the recoordination of the tax deed. Acquisition of the property is up to the courts and would depend heavily on the percentage of the property purchased, adherence to notification laws, due diligence, and other factors as determined by the courts. It is the purchaser’s responsibility to familiarize themselves with these laws prior to purchasing at a tax sale.