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Tax Deed Sales
In New Mexico NM
New Mexico is an ok state for tax deed
sales
Interest
Rate
No
interest rate, 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 numbers of delinquent
tax payers 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
removed by the tax sale.
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