Anyone on BP "crying out" at Georgia foreclosure auctions?

Question

I'm about to move down to the Augusta, Columbia county area of Georgia for 6 months for work and plan on buying a piece of property while I'm there.

I am looking for a source to get pre-foreclosure Notice of Sale (NOS) data. I know I can scour the local paper for legal notices but that's a pain in the rear. Is there something better available?

I need to learn the nuances of Georgia's auction foreclosure process and no one I have spoken with thus far has much to offer. I also need to understand the redemption process and title search process. Trying to lean forward in the saddle and get as much info before I move; any help would be appreciated.

I plan on living on my own construction site for the time I'm down there. Family wont be moving with me and I will some 'extra' time on my hands so I plan on doing much of the rehab work myself.

I am very familiar with the Colorado trustee sales, however I am lost in the sauce when it comes to Georgia.

Any help. Thanks.

Marcello Di Gerlando · Answer

@Josh McCullough

Thanks for the tips. I will check out your suggestions. I will definitely run a title search and do my due diligence before I bid. I am used to doing it here in CO so I have a good idea of what I need to do. However I know I can get myself in trouble; so I will be getting in touch with an attorney who understands the ins and outs of the GA process - before - bidding.

Account Closed

Not sure tax sales are for me. the 1year redemption period doesn't fit my model. I will PM you for your contractor and attorney info. Are you on Global? If so I will find you and contact you on NIPR.

Account Closed · Answer

@Marcello D.

What do you plan to do with the listings?  Just curious.

Richard Balsam · Answer

@Marcello D. You pose a good question. I've heard from other people that Auction.com is not always what they pretend to be. For example, they constantly run "intro" classes - even while the auction is ongoing outside the courthouse, for anyone wanting to learn the auction rules. I attended one just to see what is was about - on a Saturday morning near my home. They talk a great game- but I have one major problem with them. Mainly, how did they get to cry almost every major bank - and displace so many criers? A few year ago- when I used to buy a lot at the auction, only criers working for the attorney offices were present, as it should be. Why do investors have to learn "their" rules? Why are they always instructing others on their methods at the auction? None of this was ever done before, and winning bidders never questioned that they paid a fair market value - based on the number of bidders at the auction. Why do they jump the bid before any investor can offer to beat the bank opening bid? (I've seen multiple times they immediately ask $25K-30K more than the open bid amount - I'm sure it's to just see what they can get). If this isn't working for the banks- nothing is. Remember- when you bid at the auction, any amount over the bank opening bid is supposed to go to the borrower - not Auction.com or anyone else. Or...is this amount actually going to them? Not sure the answer. All I know- I will attend the next auction next week to see if I can spot other irregularities...again.

To answer your question on eviction: The law states that nobody can sue a county after a legal foreclosure has taken place. If they have a problem- they must go after the bank that issued the foreclosure. So- the eviction you file uses the county to remove the occupant - and any item - with a county Sheriff present. The Sheriff signs off when all items are removed, and that there aren't any strange things in the house ( dead bodies, animals, drugs, etc). The ex-owner cannot sue you for anything once you follow the rules. Even a vacant house - can have things "hidden" as I mentioned previously, and they will go after you if missing. Just be on the safe side- it takes usually 4-6 weeks to schedule an eviction, less time in smaller counties. You can always hire an eviction company to perform the removal process - they have a county sheriff with them too. They are usually 2-3 weeks out vs. 4-6 with the county.

Richard Balsam · Answer

You'll find that the auction process in Georgia is very quick - four weeks of advertising in the county "organ" (newspaper that carries gov't information, among regular news articles, etc, then off the the steps on the 1st Tuesday of each month).  No redemption period in Georgia. Auction.com took over the crying on the steps in most counties, and in many states. Many investors know this destroyed the old process of dealing with the individual criers of each foreclosing attorney office. Now- it appears Auction.com works for the banks - not investors - be careful. Their job is to promote bidding "wars" for houses, and quite often raise the bid amount over the initial asking price- just to see what they can get ( I see this regularly). For example: "Open amount is $150K - do I hear $175K?" - in the same sentence - nobody bid anything yet...they try and move the needle up as fast as they can ( I saw this last month too). Used to be individual investors bid up the prices by themselves - a true market value. You pay them certified funds, as you would any auction. MUST evict the house of tenants, items, etc upon winning the bid - or may suffer a lawsuit from the ex-owner ( just fill out paperwork at the Magistrate office at the courthouse-easy). Must not enter the house - Georgia separates "ownership" from "possession" - until eviction is done - you cannot enter the house - or trespass on the property. When cleared by a Sheriff officer, and he/she signs off- then possession is done for the record. Investors don't know this and may set themselves up for a little surprise called a lawsuit in small claims court by the ex-owner... Happens quite a few times - I heard this from other criers at the auction steps and sherriff officers evicting my properties ( not to me!). Good luck!

Josh McCullough · Answer

gapublicnotice.com is the site you need to check out. Narrow your search by county, and notice type. It will show you all of the upcoming properties for auction at the court house steps. If you find a property that your very interested in buying, have a title search done on it so you know what you're up against. Lastly, go to a sale and see how it works! They typically last from 10-4, and representatives from each property show up "whenever" to sell that property.

Marcello Di Gerlando · Answer

@Luis Montanez

Thanks! just checked it out and it looks like it has the info I'm looking for. I never realized that auction.com listed county auction info.

I can't see how they make any money posting this kind of info if they are not involved with sale.

Now I need to find an investor friendly realtor to run ARV and comp data, a real estate attorney and a title company.

Thanks again.

Luis Montanez · Answer

in my area auction.com haves information on most of the homes that will be sold at the court steps. Search for your area and see what you come up with.