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Development Services How much deposit is required to purchase property from the City? A cashier's check or money order in the amount of the bid or $1,000.00, whichever is less, plus the deed recording fee is required with the proposal packet. For bid amounts greater than $10,000.00, a deposit equal to10% of the bid amount is required. Do I have to attend the sale? No. For results, phone the Real Estate Division office after 1:00 P.M. on the day of the sale or stop by our office at 320 E. Jefferson, Room #203 to pick up a copy of the results. The results are also posted on our web page. How often are sales held? Surplus property sales are held two to three times a year. Tax Foreclosure sales are held every two to three months. What is the redemption period? According to the Texas Property Tax Code, the redemption period begins at the date that the Sheriff's Deed conveying the property to the City of Dallas and the other taxing entities is recorded. For non-homestead properties, the period lasts 6 months. For homestead properties, the period lasts two years. The prior owner can redeem the property by paying the purchaser the amount he paid plus 25% in the first year and 50% in the second year. Am I responsible for taxes and liens after I purchase the property? The taxes and liens included in the judgment are cleared by the foreclosure process. The purchaser is responsible for all taxes as of the date of the execution of the quitclaim deed conveying the property. What if the property is occupied? A prospective bidder is not allowed to go on the property or enter a structure. Once the sale is complete, it is the responsibility of the purchaser to obtain a lease with the occupant or begin eviction proceedings if occupant will not vacate the property. What is the Landowner’s Bill of Rights? If your property is needed for a public use you may wish to review the Texas Landowners’ Bill of Rights on the Attorney General of Texas' web site. |
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© 2001-2006 City of Dallas, Texas.
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