Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 9 days ago, 11/21/2024

User Stats

12
Posts
5
Votes

Tax Lien Sale Courthouse Steps - Really weird - Why did this happen????

Russell R Massey
Posted

Atlanta.
Referencing a small corner property, 45'x20', zoned Residential. Planning says nothing can be built there (well it could but it is VERY VERY VERY unlikely it would be approved per zoning). Long established residential neighborhood and used to be a corner store. Completely demolished and no slab left for 40+ years. Vacant for 40+ years.
In other words, anyone who buys it is buying the right to pay taxes on an unsellable lot forever. 
I had looked for the relatives of the deceased owner before with no success. 

It went up for tax sale Nov. 2023.

Somehow, a quitclaim was made from the sole heir just 5 days before  the tax sale - and recorded in the deed book the day after the tax sale.  

The tax debt was about $7k on the property. The property tax lien sale amount was $80,000 on the courthouse steps!!! So, they are close to $90k in. I own the surrounding lot and was the second bidder. Based on similar lots, it should have gone anywhere from not purchased to 3-9k. 

Can anyone clue me in to what the heck is goin on here? 
I will be glad to send you a $50 Amazon gift card for a really plausible theory

Prior Theories:
It could be turned commercial (no)
A residence could be built there (no)
They bought it to sell to me at a profit because I am the only one who cares about this. (Plausible for a $5k win. Not plausible for $80K+back taxes which gets up to $90k. If I would have paid more, I would have bid more)
They made a mistake and thought it was a different property (there are several with the same roadname but not the same Parcel - and this was professional who was bidding on several properties)

Can anyone clue me in to what the heck is goin on here?





Loading replies...