New Alabama Lien Auction Procedure 2019

[Andrew Kelly]

Under this Alabama new lien auction investors bid down the interest rate instead of overbidding, so the person who bids the lowest interest rate wins. Additionally, the investor receives no possession rights for 3 years but the investor can forclose after 3 years and get a clean title. This makes an investor wait possibly three years and most likely with an interest rate lower than 12 percent while it keeps the taxpayer in the property for at least 3 years with option to pay that lower rate at anytime. Unless I'm understanding it wrong, when three years end the foreclosure process/quiet title is still on the investor and versus the old procedure you could have had possession early in process. My oppinion is big advantage to delinquent taxpayer because it is more options available for making money renting and preservation improvements in the first 3 years under the old Alabama procedure. I got this from a podcast @Denise Evans posted on her site and I'm interested in what investors think about this change that may be coming to some Alabama counties.