Birmingham, AL · Member since 2017 · 9 posts · 4 votes
I recently purchased a tax lien from the state of Alabama. The tax sale date is 5/23/2017. I went by the property multiple times. There was no indication of someone living at the property while waiting to the certificate. Once I finally received the certificate, I went by and still no sign of someone living there. Power company said the power had been off for three months. I had a locksmith come out. Once inside, i notice furniture is still all over the house. I go ahead and replace the door lock since the locksmith basically just ripped the lock off. I go back the next day and there is a note saying "please don't remove items from house, i want to redeem." Though I was hoping to use the as rental property, i know i have to allow them to redeem.. since all i had done was remove and replace the locks, legally what can i charge on top of the taxes owed for the owner to redeem?
Only interest? At what rate? And is there any way I could add the cost of the locksmith?
You didn't repair anything that was broken. Now if the door was completely missing or a vandal kicked it off the hinges and you replaced it, that would have been a repair.
The original owner of the property still haven't redeemed or reached out after I sent a breakdown on the back taxes plus calculated interest owed. Is it still within reason to add insurance to the property starting the first of next month? I already had a quote done, however after I received the note saying they wanted to redeem I did not proceed to insure the property. From my research, adding insurance not only protects my investment, the previous owner must pay back the full premium plus 12% as well as the taxes owed.
The original owner of the property still haven't redeemed or reached out after I sent a breakdown on the back taxes plus calculated interest owed. Is it still within reason to add insurance to the property starting the first of next month? I already had a quote done, however after I received the note saying they wanted to redeem I did not proceed to insure the property. From my research, adding insurance not only protects my investment, the previous owner must pay back the full premium plus 12% as well as the taxes owed.
I would talk to him, for any affidavit filled out put an expression date.
Do not charge him things that you have not paid. Play fair.
The original owner of the property still haven't redeemed or reached out after I sent a breakdown on the back taxes plus calculated interest owed. Is it still within reason to add insurance to the property starting the first of next month? I already had a quote done, however after I received the note saying they wanted to redeem I did not proceed to insure the property. From my research, adding insurance not only protects my investment, the previous owner must pay back the full premium plus 12% as well as the taxes owed.
I would talk to him, for any affidavit filled out put an expression date.
Do not charge him things that you have not paid. Play fair.
I agree. Definitely trying to play fair. I haven't with through with the insurance yet