Thank you for response, @Dan Mahoney ! I was afraid this was the case.
In terms of a leaseback, this specific seller will be a high risk tenant and might never move. I'll need to come up with another strategy.
I'll echo what has already been said many times, thank you for for the plentiful knowledge in this one post and comments that has continued for so long!
One question I have, and this very well could differ from state to state, is regarding the one year redemption time. (specific to Georgia) You mentioned not being able to do anything with the property in that entire period, is that Georgia only? I have heard of other states, Texas for example, where the deed buyer is able to both rehab and rent out the property during that redemption time before moving forward with retail/whatever strategy is implemented? I know you're local to Georgia, but have you heard of this happening elsewhere? Or even in GA perhaps?
Any feedback is appreciated, thanks in advance.
1. Does anyone have any resource for obtaining a tax sale results list from 2018 for Fulton County. Trying to see what the starting bid was for each parcel and what the winning bid amount was for each parcel for each tax sale in 2018. @Dan Mahoney
2. Does anyone have knowledge of the difference between judicial sales (In-rem) vs non-judicial tax sales? Are they auctioned off at the same time? All I can tell online is that the judicial foreclosure sale are blighted properties that only have a 60 day redemption period and afterward the purchaser gets free and clear title vs. 12 month redemption for non-judicial sale.
@Mike Sherman I'm not aware of anyone selling a list like that. You could build it by hand by cross-referencing the ads in Fulton County Daily Report (minimum bid) with the tax deeds recorded in the Fulton County land records (price paid). Probably more useful for researching a specific property vs. trying to build a comprehensive list.
The Sheriff typically cries the non-judicial sales first and then does the judicial sales (there are typically fewer) on the same morning. I'm not an expert on judicial tax sales, but here is an article from a local law firm that may shed some light:
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing