All Forum Posts by: Jeff Spahn

 Denise can I sell a tax deed property that I have been in control of for more then 8 years if  take a down payment and carry the note on the property?

Thanks for the Info, for me unfortationally  all my properties are located in the largest county Jefferson County and they love to put out of state big investor companies so they can put the extra money in their account and if you get behind on the propert taxes 1 year they require that you pay the overbid interest amount AND THE NEXT PROPERTY TAX BILL TO REDEEM,

That's a big hard ship on the common resident to come up with 2 years of property taxes and Over Bid plus 12% interest daily

Blessings to All

I didn't read all the replies but, I don't think it's a problem, Most Mortgages want to know that you are living on the property for Owner Occupied status, Not an Investment Property (Rental) your case it is Owner Occupied because you are owner occupying the subject property that the mortgage is on.

Mainly this is for 2 reasons  1 the Interest rate is lower for Owner Occ. and  2 the lender wants to be able to sell your loan as Owner Occ. 

Don't make a big deal or worry about this and it will be fine AS LONG AS YOU ARE OCCUPANCY IS THERE !

Blessings,

Great information, I knew you could sell them to another investor But didn't think about Selling with a payback if redeemed, 

 Most of my Tax Deeded properties are 3 to 5 year seasoned as a Deeds. The properties were vacant  and needed to be totally rehabbed  so the redemption cost and cost of Taxs,Ins. / Rehab would be more than the value of the property 

Thanks for your Professional Expertise Denise !

Thanks for your quick response, do you have to have a quiet title done ?

Purchased them from the State of Alabama over 3 years ago

I have a number of Tax deed properties are the able to be depreciated on tax return ? 

Can you include cost to make properties live able for renting ? 

Any information 

on this conversation would be appreciated

Thanks and Blessings to All !

'm sorry not to get anybody excited, I'm specially talking about Alabama (Jefferson County to be more specific there was a lot of talk about changes in excess bids of Tax Delinquent Properties and they had a lawsuit judgement in 2007 and the county lost $28 million case for excess over bids

Just wanted to know if all s still the same with the Jefferson County Alabama allowing 15% of the value of the property to over bid the taxes owed and receive 12% int. on their entire investment when property is redeemed .

Blessings to all,

I'm sorry not to get anybody excited, I'm specially talking about Alabama (Jefferson County to be more specific there was a lot of talk about changes in excess bids of Tax Delinquent Properties and they had a lawsuit judgement in 2007 and the county lost $28 million case for excess over bids

Just wanted to know if all s still the same with the Jefferson County Alabama allowing 15% of the value of the property to over bid the taxes owed and receive 12% int. on their entire investment when property is redeemed .

Blessings to all,

Are there any recent changes to the Property Tax overbids ? Any pending lawsuits etc. I haven't seen any updates for over 3 years on this site.

Any info please reply,

Thanks and Blessings