I'm not 100% sure, but I think you can get a list of past due property taxes (FIFA?)and pay them off yourself. You can collect 1% per month and foreclose the right of redemption after so many years. If you buy the tax lien, then you charge 20% and they have 1 year then you can foreclose the right of redemption. I'm not sure this is exact though (or even close). Even the people at the court house were not sure. I went to the county tax sale yesterday and I noticed most of the tax liens being auctioned were from other tax investment companies who were selling taxes from 1995 and 1996. I was looking at one property seriously, but while doing my research, I found out that 1997-2000 taxes were paid by other investors and 2001 & 2002 had not been paid at all. I wasn't for sure what would happen in this situation so I passed. If anyone has any info, please share.
Well, I have no notion of what a FIFA might be. That is probably some local abbreviation for something. It reminds me of "FIFO" which is "first in, first out," a phrase used in taxation of investments. So I wonder if "FIFA" means "first in, first audited?" [joke alert*** you have been assaulted by a weak attempt at humor ***joke alert]
You are right not to proceed forward when you are unsure of what is going on, in my opinion.
I suggest that you need to study the state statutes on collection of delinquent property taxes.
From what you say, I don't have an understanding of what is going on here.
Previous tax liens can be a warning sign that either:
1) The owner is struggling financially and may go into brankruptcy.
or
2)The property has some problem which makes it undesirable.
OIne thing you should find out is if the previous tax lien(s) where ever paid off. If not they are likely to be "primary" and any other tax liens "secondary". Which means that they will be paid first, or can attempt to acquire title before the secondary liens.
A fi. fa. (short for fieri facias - a Latin term for “cause it to be done” and also used
interchangeably with TAX EXECUTION or EXECUTION) is a tax lien or writ, authorizing the
Sheriff or Ex-Officio Sheriff to obtain satisfaction of unpaid taxes by levying on and selling
the delinquent taxpayer's property. These documents are recorded on the General
Execution Docket ("GED" of the Clerk of Superior Court. (OCGA 48-3-1 and 48-3-3)
JDC21--(GA)------------
So, what is FIFA?
Good Investing************Ron Starr************
I'm not 100% sure, but I think you can get a list of past due property taxes (FIFA?)and pay them off yourself. You can collect 1% per month and foreclose the right of redemption after so many years. If you buy the tax lien, then you charge 20% and they have 1 year then you can foreclose the right of redemption. I'm not sure this is exact though (or even close). Even the people at the court house were not sure. I went to the county tax sale yesterday and I noticed most of the tax liens being auctioned were from other tax investment companies who were selling taxes from 1995 and 1996. I was looking at one property seriously, but while doing my research, I found out that 1997-2000 taxes were paid by other investors and 2001 & 2002 had not been paid at all. I wasn't for sure what would happen in this situation so I passed. If anyone has any info, please share.
Thanks
JDC21-------------
Well, I have no notion of what a FIFA might be. That is probably some local abbreviation for something. It reminds me of "FIFO" which is "first in, first out," a phrase used in taxation of investments. So I wonder if "FIFA" means "first in, first audited?" [joke alert*** you have been assaulted by a weak attempt at humor ***joke alert]
You are right not to proceed forward when you are unsure of what is going on, in my opinion.
I suggest that you need to study the state statutes on collection of delinquent property taxes.
From what you say, I don't have an understanding of what is going on here.
Good Investing*********Ron Starr************
Previous tax liens can be a warning sign that either:
1) The owner is struggling financially and may go into brankruptcy.
or
2)The property has some problem which makes it undesirable.
OIne thing you should find out is if the previous tax lien(s) where ever paid off. If not they are likely to be "primary" and any other tax liens "secondary". Which means that they will be paid first, or can attempt to acquire title before the secondary liens.
I (try to) avoid these situations as too risky.
Glenn
[addsig]
A fi. fa. (short for fieri facias - a Latin term for “cause it to be done” and also used
of the Clerk of Superior Court. (OCGA 48-3-1 and 48-3-3)
interchangeably with TAX EXECUTION or EXECUTION) is a tax lien or writ, authorizing the
Sheriff or Ex-Officio Sheriff to obtain satisfaction of unpaid taxes by levying on and selling
the delinquent taxpayer's property. These documents are recorded on the General
Execution Docket ("GED"
Hpe this can help