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
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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