Alabama Or Georgia
I wanted to know if anyone knows about these two states. Are they tax certificate or sale states? Also if they are tax cert. states does anyone know of any way to find the court house sites that may list info on tax certificates? Newbie but learning
Hello Newbie! Alabama has tax lien sales, but not tax deed sales. Most of the counties have their auctions in May, The interest rate is 12% and the redemption period is 3 years. All auctions are by competitive bid. Winning bidder pays lowest interest rate.
I think you asked about GA too. They do not have tax lien sales, but actually have tax deed sales with a right of redemption for one year. The interest rate of 20% is regardless of when the property is redeemed within the one year period. If redeemed within one month, the investor still receives the 20 % which results in an outstanding return of 240%. Sales occur on the first Tues. on any month, by determination of the county treasurer. All auctions are by competitive bid. Georgia is a complicated tax lien state because the auctions happen often and, although the redemption period is quick, the foreclosure proces is not easy.
I got this information from my Rogue investor book (2004) so just to let you know this is not first hand knowledge. Good luck to you! Hope this helps some!
AL does OTC certificate sales though the ALA Dept of Revenue. Mostly inner city props in Mobile and B ham.
Update, I did some research on alabama and its a royal pain in the butt to get property there and you are only getting 12%. GA is the much better choice.