All Forum Posts by: Trining R.

@Teri Lurie, any excess funds can be claimed by lien holders in order of priority and then to the the owners. If there are no liens on the property, the owner can claim the excess funds. 

Hey Ivan. In Georgia, Excess Funds are able to be claimed if there are no other liens holding priority. I have not worked excess funds in Fulton county but I have in others and other states. 

If you can find a good Attorney willing to be paid on a contingency basis, some counties file an interpleader for all excess funds claims and since the banks don’t usually show up, you win. 

I just checked on Gwinnett and surprisingly they are having a sale December 5. 

https://gwinnetttaxcommissioner.publicaccessnow.com/Portals/0/PDF/DEC2017TaxSale_weblist_11152017.pdf

Hi @Bruce Edwards. If there is an upcoming sale it will be posted on the county Tax commissioner site. I am not too familiar about Fulton County but I know Gwinnett usually holds there’s in the Spring - Summer months, 1st Tuesday. They usually stop in the colder months but you can always check. Let me know if you need some assistance. 

@Yizhou Pan 3 bed/2 baths are great but if you can find 4 bedrooms, 2.5 baths that will be more ideal. Even though I'm technically in a 3/2, the owner split the Master into 2 rooms making it a "4/2" which is why I was willing to pay $1600. Most apartment complexes out here go up to 3 bedrooms 2 baths so people renting are looking for bigger. But honestly, everything moves in Duluth quickly and the property values are on a steady increase. 3 homes have sold in less than 10 days in my subdivision which is majority ranch style homes. We currently have 2 more for sale but they are over your $170k budget or I would tell you definitely buy!

If I can be of any help, let me know. Especially if you find something you would like to know more about. 

Hello and welcome! I currently live and rent in a Duluth. I can tell you as a renter, the Duluth market is hot. Rentals go very quickly. I pay over $1600 for my 3 bed/2bath ranch.  If you can locate a good deal, Gwinnett County is definitely the area and that includes both cities you mentioned, Duluth and Suwannee. 

The excess funds stay with the county for 5 years before they turn over to the Department of Revenue.  Most counties will have an "excess funds" list on their website. Liens ALWAYS have first priority to the funds. If you are trying to get into the excess/surplus funds business, in GA mortgage holders have priority before the owners. So beware of those gurus selling you the "it's so easy, look at all the money listed" sales pitches. When the owner redeems, they pay purchase price PLUS 20% directly to the buyer and the county is still holding the excess funds paid by the purchaser. This law change a few years ago has been a cash cow for counties because most owners do not know they can go claim the excess funds they paid from the county if they paid to redeem. Needless to say, if done right, it can be a very lucrative business. 

Hope this helps. 

Gotcha! Yes, I agree no law but they are just not willing to deal with individuals or non bulk buying investors. 

@Dan Mahoney hope it works out in your favor. 

Fulton County and Vesta have a very, very, special relationship. Georgia does not allow over the counter Tax Deed purchases (paying someone else's past due taxes for the Deed) and does not issue Tax liens to the small investor. That's the very special relationship Vesta has. If you were to pay the past due taxes at the counter, you would essesntially be doing the owner a huge favor. My suggestion, I'm no expert, would be to watch the Fulton County Tax sales every month and when the parcels show up, bid for them. It's kind of strange for it to have gone 8 years without making it to Tax sale.