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- [Auctioneer] All right, ladies and gentlemen, lets get her goin here. Start me off. Where to go here? How about a$1,000 opening bid? (upbeat music) - Welcome back. Now, my perspective has been developed over 30 years of purchasing as an investor in guiding and training others on how to earn money with tax defaulted property. This government program has been available for over 200 years. So the system is mandated and executed by the local county government, and if property owners dont pay their property tax, the local government, the treasurer, is gonna confiscate the property. And when that property is confiscated, the local government doesnt want it. So what are they gonna do with it? Theyre gonna auction it off for a very low price. Could be only the back taxes. When they do auction it off, theyre actually gonna cancel and wipe out the mortgage. So the local county is getting their direction from the legislature of the state and from the county board of supervisors or the co