Foreclosure House With Tax Lien
HI I had a quick question I fournd a forclosed house with a tax lien on it .. and i was wondering if there I was a different precdure to follow if the house is a foreclosed house? If not would anyone mind telling me what the legal process was to purcahse a tax lien in GA was
I know that the auction of the lien is held the first tuesday of the month, and I get a 20% return on the value of the lien but is ther e any fourms I have to fill out ? or any special procedures I have to follow to purcahse a lien? This is my first time doing this I would appriciate any responses .. Thanks
Digan
Others may offer specific GA advice, but it sounds to me like your first step should be to go to the courthouse and talk to the assessor and/or auditor. Be earnest, curious, and make these people your allies. Hopefully they will be pleasant and helpful; usually they are. Don't be afraid to ingratiate yourself a little by saying things like, "I'm totally new at this and I was hoping you could help me to understand what exactly a tax lien means and how I could pay the taxes on a house that I'm interested in," etc.
Laclede,
The downside of buying before it goes to auction is that if there is a mortgage on the property it won't be wiped out as it would if you if you got it at the tax lien auction.
1. I would do a title search before buying anything.
2. I would do a warrenty deed instead of a quitclaim deed. If by chance several people own the property and one gives you a quick claim deed. You really only have an interest in the property. Where as if have a title search done and get a warrenty deed you can be confident there aren't other unknown people that can make claims to the property. I think quit-claims are mostly used during divorce when one person get the house.
Good Luck let us know how you do!
Kyle Burke
SWFLA Investments