Posted by Kimberly Taylor on March 08, 2005 at 07:54:42:
This is very helpful. Thank you!
Tax lein purchase -Holding period - Posted by Robert Jones
Posted by Robert Jones on March 01, 2005 at 19:08:45:
When buying a property at auction (tax lein) and receiving a {quit-claim deed) is there a time period I must hold the property before re-selling it??
Re: Tax lein purchase -Holding period - Posted by Bill H
Posted by Bill H on March 01, 2005 at 23:38:35:
Depends on where you are and what you actually bought…a lien…or a resale.
Good Luck,
Bill H
Re: Tax lein purchase -Holding period - Posted by kimberly Taylor
Posted by kimberly Taylor on March 07, 2005 at 09:57:50:
Does Georgia have a waiting period before reselling a tax lien property? What is the difference between “a lien” and a “resale?”
Re: Redemption VS Right to Challenge Validity - Posted by Gary (CA)
Posted by Gary (CA) on March 02, 2005 at 19:43:57:
One more thing you need to be aware of. Some states give the former owner a right to redeem their property within a certain time frame, and others have a time frame during which the former owner has a right to challenge the validity of the tax sale. These are not the same, but many people get them confused.
Study the laws affecting the tax sale, learn how to check title at the local county recorder’s office or courthouse, get copies of plat maps at the assessor’s office and drive by to take a look at the properties you are bidding on before you bid. Bargains are out there, but you have to do your homework. Most people who show up at tax sales don’t do their homework - that is why you’ll hear stories about the guy who bought a piece of land 5 feet wide and 500 feet long, or another who bought a parcel featuring a slope worthy of Mt. Everest.
Re: Tax lein purchase -Holding period - Posted by Bill H
Posted by Bill H on March 07, 2005 at 22:04:10:
Have not checked in some time but if memory serves me Georgia has a couple of tax lien statutes. One calls for a two year redemption period and the other is a 60 day period…much shorter because the city/county has deemed the property an eyesore and a health/safety hazard to the community. Before you purchase, check to see which applies.
Tax Lien…you are loaning the citu/county the $$$ to pay the taxes for someone else. Normally comes with a redemption period.
Tax Resale…Means that this property has been up for sale before, the redemption period, if any, has expired and the county as the owner will sell it for whatever they can get for it.
go to …http://www.gtsweb.com/faq.htm… and you will find a nice guide for tax sales in the state of GA.
Good Luck,
Bill H