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Updated 7 months ago,

User Stats

21
Posts
7
Votes
Jack Raine
7
Votes |
21
Posts

Tax Lien interest (too good to believe?!)

Jack Raine
Posted

I have the most basic question (I understand the "basics" of Georgia tax sales):

So, a property owner needs to pay the sale price plus 20% interest on a tax sale I purchase at auction in order to redeem it. Is that "sale price" the opening bid, or the final auction price? I've looked everywhere I can think.ot, including these forums, to answer the question but can't find a clear one. It seems to me that this price must be the starting bid...? Correct? Ie if it is listed as $1000 and sells for $2000 the redeemer would need to pay $2200 to me? As opposed if it were the final auction price they'd owe me $2400 (20% of 2000)?

the follow up question is whether or not it's possible to recover your "own" excess funds?

Thanks for helping out a dummy. 

Jack

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