All Forum Posts by: Kiet N.

@Joseph Berhane

Here is the piece I wrote about your backyard....

https://www.biggerpockets.com/forums/20/topics/440...

This is my first time getting the "foreclose of the redemption". Would you share any contact info ? The property is located near Atlanta, GA. Thanks for your helps !!!

@Juel McGhee you were attending Fulton County "Tax Sale" , and GA is a tax deed state (hybrid to be exact) . Is there a typo in your OP regarding " buying tax lien" ?  

In tax sale this morning, I did buy a clubhouse with a swimming pool on a 4 acres lot.  

Get your swimsuit ready, pool party is coming. All BP's invited ( exclude the HO's in the neighborhood - they haven't paid HOA fees)

@Ned Carey Thanks for the reply ! Your explanation is head-on for the clear-cut scenario (No fund to pay taxes)

Could this scenario happen ( Escrow fund fully exists - Bank fails to pay tax - then goes after the excess fund ) ?  

I am reading in the forum that bank and mortgage company would go after the overbid when the amount is large enough, and a question just popped: How about the home owner,  who pays monthly into the escrow ? Clearly the bank/mortgage is at fault (for not paying taxes from the escrow) - now just because the overbid is large, HO just loose the house ?@#$@ 

Your thoughts on this angle ? Thanks for sharing !!!!

I guest here is where the "tax deed state with redemption period" become handy. The recent-lost-deed-homeowner has last chance to pay-or-loose the house or at least a period of time (1yr for GA) to absorb the shocking news before facing the ultimatum. 

Get it fixed now and deal with the bill later. The longer the wait, the messier it gets. You do not want to have things go into the commode, not getting to the drain, and ends up on the floor.  

if the problem can be identified and caused by the tenants (baby cloth wipes, toys, grease ... in drain)  - bill them.

all others causes are just cost of doing business. 

Agreed with "depends on the state". For GA, the premium is 20% of the purchase price, plus any other fees (new tax payment, etc...)

For redemption:  at one of the county, the redeem check was sent directly from the bank to me. The county does hold the overbid, excess fund but washes its hands on the redemption transaction.