Duluth, GA · Member since 2014 · 47 posts · 14 votes
I've been purchasing Alabama Tax deed properties for several months and I am running out of resources. I continue to receive these price quotes from the State of Alabama for approximately $5k - $7k. Good rental property that may require some cosmetics but a good buy and hold property for $5k - $7k. Can I transfer the price quotes to someone else? If so, what is the process.
Make sure you know the redemption rules in Alabama, and don't over-improve. Even with a tax deed, the former owner can still redeem by paying the taxes plus 12% per annum interest. That redemption period runs for three years after the investor takes possession of the property. If the property contains a residential structure, the former must also pay the value of "preservation improvements" made by the investor, but not additions or upgrades. The investor gets to keep any rents collected up until the redemption.
You must also make sure the tax sale was not void. The most likely culprits are death of property owner before tax sale, or sale of property to someone else but failure to assess in the new owner's name. In other words, the wrong person's name was called off at the auction. If the tax sale is void, the former owner (or heirs) can redeem for the taxes plus interest, but do NOT have to pay you for preservation improvements. Also, you will have to disgorge any collected rents.
There is a house coming up for tax auction and the owners are deceased and no will has been probated and they have 2 living grandchildren and there is no will. Would I be able to get the deed to the land or would this be a void tax delinquent sale in Alabama?
If anyone is still on this thread. Can someone give me ballpark on how long it takes the state to send a quote. I requested several properties over a week ago and no email yet. Is it lengthy wait?
If anyone is still on this thread. Can someone give me ballpark on how long it takes the state to send a quote. I requested several properties over a week ago and no email yet. Is it lengthy wait?
It depends on how many investors have inquired about the property before you and your place in line. I've requested quotes before, and it can take a few days, or months if not years. With each person ahead of you, add approximately 30 days to your waiting time.
If anyone is still on this thread. Can someone give me ballpark on how long it takes the state to send a quote. I requested several properties over a week ago and no email yet. Is it lengthy wait?
The State is so back logged. I called today and they have over 60k applications to put through the system. So patience.
How long does it take for the State to reply with a price quote? Ive sent several request for quotes straight from the 'bama dept of revenue and havent heard anything. I believe its been a couple of weeks. The site said i would receive a confirmation email and havent received anything. Any feedback would be appreciated.
@TIM HUGHES it depends on how many people are in front of you… check the Dept of rev site for the phone number and call & ask how many are ahead of you … assuming nobody purchases the deed before you.