Hmmm, Worth It, Or Not?
Tax sale is tomorrow. Did my title search today, found out that the property was foreclosed on Dec 1, 2005.
So if I buy this house tomorrow (needs some work, but nothing my hubby and I cannot handle), in the state of GA we cannot touch it for a year lest the foreclosure bank claim the right of redemption. In the case of redemption, the bank has to pay us back all recording fees, taxes, whatnot and whatever else the county made us pay for the property, plus 20% interest.
If they do not claim it, then we can do a "quiet sale" in a year, then we have a clear title and can do as we please (apparently if you do not do the quiet sale, you have to leave the property as-is for four years for the right of redemption?
Anybody have more information for me on GA laws?
Must be nice in N.Carolina where those shows are held - Trustmark Investments buys houses at auction, fixes them up and sells them 6 weeks later. MUCH faster.... oh well!
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