Buying Redemption Deeds in Texas & Georgia earning 20%-25%! Tax Sale Review
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- Опубликовано: 18 сен 2024
- www.taxsalesupp... Topic: Replay of the Member Webinar on June 3, 2020 on Tax Redemption deeds. Redemption Deeds are often overlooked in favor of tax deeds or tax liens, which are more common to find. Redemption deeds have their benefits and drawbacks. That's the topic of this week's webinar for all of the members of TSS. Subscribe for more great videos, and to keep up to date on all the hottest Tax Lien & Deed investing strategies and upcoming auctions!
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Could you explain what is a Premium Bid in Georgia please?
What determines the redemption period? Do different counties have different redemption periods, or are the redemption period just circumstantial per house? Awesome video!
Hello, the Redemption Period is determine by State Law! So each state will have a set time period the owners have to pay back the tax lien. Listed below is link to one of our Online Maps with all the redemption periods listed. Hope this helps! Thanks, Stephen www.secretsoftaxlieninvesting.com/state-info
Hey guys the law firms links in TX all go to LGBS , and dont appear to cover all counties ... are there some new ones ? coulc not find them on the site. Regards
This was really great information. Just to add to it, some TN counties are on govease.com and there is one GA county near Savannah that is online on either Zeus or govease. The bid down ownership in LA is such a weird process. Washington County UT was a bust this year, and so was Iron county. I had a question that I cannot find an answer to. Is the property owner responsible for paying penalty on the excess proceed amount in addition to their original tax amount? In otherwords, taxes were $5000, property gets bid up to $30,000. In GA at 20% are they paying back $6000 ($5000*1.2) or $45000 ($30,000*1.2)? Thanks for everything you guys do.
Great question, it will depend on how the state law is written. I will have to look up GA and get back to you. Thanks for watching. Stephen
@@taxsalesecrets was there a follow-up with this question?
Awesome content, thanks for sharing. I do have a couple of questions related to Texas...
What happens to the mortgage once a redemption tax deed is sold/bought at a county auction?
If the taxes owed are $10k, but then it gets bid up to $20k, is the 25-50% penalty on the original amount or the bid up amount? To redeem a property, I assume at least the amount bid up to must be covered (the $20k) plus the penalty.
Thanks so much!
Yes, them talk about this in the video if the BID is 10 k but the winner Pay 20k, the Redemption is in the 20k, for example in TEXAS is the 25% on the 20k and the ancient owner is the pay 25k ( 20k x 25% the Penalty), BUT attention the "normal" Tax Lien is not same in this case is only the preview debt in the property the "extra' do not count for the Interest.
@@melhoresprodutos8899 thanks! I only care about Texas and have bought several tax deeds since I posted this comment.
Hi. Just found your channel. I am
Unable to locate the listings for Georgia. Where can I find it?
The Georgia listing can be found by researching the county websites.
I would be interested in Virginia!
Virginia is done in person and is a deed state.
Hello, like mentioned below Tax Deeds in Virginia need to be purchased in person. We have had a student that did very well attending the live auctions in VA. Good Luck!!
Thanks for the help..
I just bought a vacant lot in a subdivision at a tax sale. Would this fall under a 6 month or a 2 year redemption period? I would like to re sale but I am not sure how long I would have to wait. Thanks
A vacant lot would be considered non-homestead ag. So it would be a 6 month period unless it somehow qualified for the exemption. Google the county name with "assessor" and look the parcel number up there to see if there is an exemption.
Like mentioned below it would be the six month redemption period because it is land. Great job on winning the Lot - that is awesome....
Thanks again....
Do you have to take over old mortgages from past owns if you buy the property
Most places wipe out any private encumbrances during a tax sale. The banks that hold mortgages or loans have the opportunity to pay all the back taxes to keep their lien as a superior lien. So in short in most cases no.
Thanks for helping with the comments.
California
California is a deed state that offers property to the highest bidder after 5 years of unpaid taxes. Slim margins, and BIG $$$ to play ball. Cross over into Nevada to start with a little less money.
HalifaxDreg is right about California. We have been able to get property for cheaper in some of the more rural California counties. But for the big cities you need to have a larger amount of capital to invest in those auctions.
Thanks again..
if i want to purchase redemption deeds in tx which is stuck up (otc) when then do i need to attend a live auction?
So there are only 3 counties currently offering online sales with 4 more coming soon. In order to participate in the other 250 or so counties they require you to be in person. Cameron, Orange, and Victoria counties are all online. (Gulf Coast)
Thanks for watching.. With the Stuck Off or OTC Texas tax deeds you will not need to attend the auction since you are buying them after the sale. The best way to find them is to research the Stuck Off lists that can be found in the Law Firms used to conduct the sales.
I have been looking of how to bid on properties in Georgia. I hear different things such as the are only in person bids. Does anyone know how to bid on properties in Georgia?
Glynn county GA is available online at govease.com and they typically do their auctions in April. I would look on the tax collector or county clerk site to see if it postponed so you can participate in the auction
Hello Crystal, most counties in Georgia offer their tax sales in live person auctions. So in most counties you will need to attend the auction to bid. Hope this help and good luck investing. Thanks for watching...
Thanks for the help..