redeeming tax sale property

[joeframer]

Any body know exactly who you pay to redeem your property sold at tax sale/auction ?

[Carey]

"ONCE A PROPERTY IS ACQUIRED THROUGH THE SALE, IS THERE A REDEMPTION PERIOD? Yes, the prior owner may redeem the property within one year from the date of the sale. If the prior owner contacts you and pays the sale price plus 1% per month interest, he may reclaim his property. As long as contact is made within the one year period, the previous owner has exercised his right and may be entitled to redeem. Please note, the previous owner will contact you directly, the County is not involved in the redemption process."
from:
http://www.hawaiipropertytax.com/docs/FA...50514_.pdf

[Hotzcatz]

I thought they had to pay a flat 12% fee and not necessarily a 1% per month?

If it's a flat 12% then it wouldn't matter when they redeemed it. If they decide to redeem it directly after the tax sale, then it woiuld be similar to them paying their taxes plus a small penalty. They get all the excess money above the taxes owed. So take that money, add in the taxes plus 1% (if they redeem in the first month) and they get their property back somehow.

Wouldn't there be some sort of write up the document fees? Recording fees?

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