All Forum Posts by: Robert Kennedy

@Jeff Spahn Look at Alabama ACT 2018-577 and Alabama ACT 2018-494. Currently 4 Counties are going to use alternative laws provided by ACT 2018-577 FOR 2019 Tax AuctIon. They are Shelby, Baldwin, Calhoun and Cullman. Alabama ACT 2018-494 lowers tax rate for counties usIng current law to 8% starting in 2021.

@Jeff Spahn

Originally posted by @Denise Evans:

@Robert Kennedy, sometimes the delay is caused by there being people ahead of you in line, who previously requested a price quote. 

The reason I did not take that into account because the property was sold to state for taxes over ten years ago. It is possible though.  

@Johnathan Williams

Jonathon if you have a Facebook account search for "ElitEstate Realty Group." When you find the page use the Videos link. You can also search using GOOGLE to find the video. Make sure you include the parentheses in the search. 

I will say I requested a quote from the state on a property in the middle of May 2018. I have not received a reply from the state. I am assuming they are still busy from the County Tax Auctions. 

Originally posted by @Tasha Pams:

Hello everyone. I have found some really nice vacant tax deed properties in Birmingham and need some recommendations on how to get, I guess, a finders fee. I don't have the money to purchase them so how do I make sure that if I show them the properties they don't go around me and purchase them? 

Thanks in advance!!

There is an attorney in Birmingham that gets the quote from the state then tries to find a buyer. He then negotiates a price for the deed/lien, signs a contract with them and takes a down payment that will cover the price of the lien/deed from the state. Once deed/lien is in hand they close on the deal and he reassigns the deed/lien to the buyer. None of your money is used.  

Originally posted by @Anastasia Jordan:

 State now has this new stupid rule where you have to agree to not sell it back to the owner or anyone who had redemption rights.

I can understand the States reason for this rule. You purchased a Tax Deed on property that owed $11,000.00 in back taxes for $500.00. If you were to sell the property to the owner or anyone with redemption rights, then everyone could win on the transaction except the State. The property owner/ the people with redemption rights would save thousands of dollars on taxes they did not pay if you gave them a good deal on the Tax Deed. I feel sure there is a way to sell the tax deed to the owner or someone with redemption rights if they paid all the back taxes previously owed ($11,000.00 minus the $500.00 you paid) to the State. 

Sounds like the the pump is cavitating which can cause loud noises and vibration.  Google "cavitating" for more information.  

Jamie O'Brian it appears that these recently passed Acts are in conflict with each other.  SB257 reduces the interest from 12% to 8%. Yet HB354  amends language in  §40-10-184 (b) to read; "The  beginning interest rate bid shall not exceed a rate of 12 percent and additional bids may be made at a rate less than the immediately preceding bid." 

We can always depend on our State Legislators to screw things up by passing conflicts in the law. 

HB354  passed both houses and was delivered to the Governor at 8:08 p.m. on March 28, 2018 for her signature.

Link to enrolled version that will become an ACT. 

http://alisondb.legislature.state.al.us/ALISON/SearchableInstruments/2018RS/PrintFiles/HB354-enr.pdf

There is a Senate Committee Meeting this morning about this Bill. The meeting is at 11:45am in Room 727 and HB354 is the second Bill to be heard. If you would like to listen to the committee meeting click on the following link. 

http://alisondb.legislature.state.al.us/alison/AudioVideo/Audio/FandT/FandTAudio.html