# Tax Lien Diligence Checklist

Before every bid, walk this checklist. Block the bid if any `high` or `critical` item fails.

## Property identity
- [ ] Parcel ID matches county assessor record
- [ ] Property address normalized and verified
- [ ] Owner name current (cross-check assessor vs. recorder)
- [ ] Legal description present

## Value
- [ ] Estimated market value from at least one provider (ATTOM, RentCast, manual comp)
- [ ] Assessed value present
- [ ] Bid-to-value ratio ≤ 0.5 for bid, ≤ 0.65 for watch
- [ ] Comparable sales pulled within last 12 months

## Encumbrances
- [ ] No senior mortgage liens that survive sale (state-dependent)
- [ ] No IRS liens (12-month federal redemption)
- [ ] No municipal liens unaccounted for (water, sewer, code)
- [ ] No pending bankruptcy on owner

## Title
- [ ] Chain of title clean for 20+ years
- [ ] No recorded easements that impair use
- [ ] No open code violations

## Physical
- [ ] Street-view confirmed (not a sliver, not landlocked)
- [ ] Lot size matches assessor record
- [ ] Zoning confirmed with municipality
- [ ] Occupancy status recorded (occupied / vacant / unknown)

## Redemption
- [ ] State redemption period understood
- [ ] Interest rate / penalty structure recorded
- [ ] Reserves include title, legal, and carry cost through redemption window

## Regulatory
- [ ] Registered for the sale (deposit paid)
- [ ] Meet minimum deposit
- [ ] Bidder-number or account set up in county portal

## Post-bid tracking
- [ ] Outcome recorded in `decision_status` (won / lost / removed)
- [ ] Redemption watch calendar set
- [ ] If won: quiet title timeline set

**Rule:** if any line is unchecked at bid time, update `bid_decision.decision` to `watch` or `pass` instead of `bid`.