All Forum Posts by: Shawn Moore

I completed my first tax deed purchase, the redemption period has expired. I do not plan on.selling the house. However, I am not listed as the owner on the Fulton County GA Tax website. It does show that I purchased the house. How do I change this?

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I purchased a tax deed, waited the redemption period, completed affidavit in newspaper about redemption. I currently have no plans to sell the house. I have it insured. However, on the tax website for Fulton County, the previous owner is still listed and has received the upcoming tax bill. Is there something Inshould do, to get my name as owner. It shows that I Purchased the home at the auction. Please help!

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Hello From Georgia!

I placed my required ad in paper for 6weeks notifying the world about the opportunity to redeem. No one cane forward. I did this through an attorney. My question is..what's next? I have no interest in selling the property. When I look online at our property abd tax assessor pages, the previous owner is still listed. Is there something else I need to do to get my name to appear? My name shows as the grantee via auction, but corner owner is still listed at top of page. Please help

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Thanks...

I guess I am still confused as I can't seem tho get the danger response from two people. I will take a look at the Schedule E tonight.

Originally posted by @Linda Weygant:

If the property is ready to rent, then your basis in the property is going to be the amounts you paid for the tax liens, plus amount to get clear title such as attorney fees or whatever else is involved.

If it's not ready to rent, then expenses incurred to make it ready to rent will also be included in the basis.

For an understanding of what's deductible, go to the IRS website and take a look at the Schedule E. That is a great list of what you'll be able to deduct. Once you've done that, if you've got additional questions feel free to post then.

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Originally posted by @Linda Weygant:

If it's not ready to rent, then expenses incurred to make it ready to rent will also be included in the basis.

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Hello All,

The right to redeem a property I purchased ended 9.3.15. I have served all interested parties and advertised the barment. My tax deed covered 2009-2013. I just recently paid 2014&15 back taxes.

My plan is to rent the property.

What can I write off in regards to the IRS? What publication should I read?

I am in Georgia.

Thanks in advance!

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Thanks everyone!!!

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Originally posted by @Tom Yung:

@Richard Thayer

In GA, after the 12 months is over, you have the right to bar the owner from redemption.

During this baring period (45 Days). The owner still have the right to redeem, but the interest are additional 10% in year two. After this 45 days, if nobody redeems, they lost the right of redemption. If you want to sell the property, you still need to quiet title; if the purchaser need conventional financing to get title insurance.

Tom,

If you don't want to sell the property, what are the necessary steps to get house in your name?

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All Forum Posts by: Shawn Moore

Shawn Moore has started 6 posts and replied 13 times.

Post: Georgia

Post: What's Next

Post: What's Next

Post: Georgia

Post: Right To Redeem Has Passed

Post: IRS Tax Write Offs

Post: IRS Tax Write Offs

Post: IRS Tax Write Offs

Post: Bar Right to Redemption

Post: Georgia Tax Deed