All Forum Posts by: Ted Thomas

Hi Johnny,

If you want to know about the foreclosure process and you don't have an attorney to help you, go to the statues that the legislator has created, it's free, read the process, its simply the matter or sending the right letters with the right information. 

Respectfully,

Hi Travis,

If you redeem your property, the person is required to accept your payment.

Respectfully,

Hi Janelle,

It sounds like you are on track to check the county records and the property research, that is always good. The owner that's defaulted will loose there property as you know. The laws of the state will tell you whether the family members can take over.

Respectfully,

Ted Thomas

Hi Ed,

You are certainty in a difficult situation, each state has its own rules in regards to Surplus. You can research on the state site and find out those particular rules, sorry I couldn't answer your question, I don't know what state you are in.

Respectfully,

Hi George,

FYI, Tax Title Services is definitely associated with many title companies. A Quiet title process is a legal process you can hire an attorney to do that, my recommendation is you find someone who has accomplished the process many times. Most attorney's have not performed the service and will refer you.

I have done this for 25 years and you need to do your homework before you order your quiet title. 

Respectfully,

Ted Thomas

Hi Stephanie,

Tax lien certificates are a very viable investment, they have been around for over 200 years. Depending on the state in which you invest the rates could be as high as 16%,18%,24%. Tax deeds are tax defaulted properties, those are properties that property owners did not pay there tax and the county has seized and will sell for very low prices, sometimes 10-20 cents on the dollar. The counties in Massachusetts and all of New England sell either tax deeds or tax liens. The information is easy to access from the county Treasurer. 

Respectfully,

Hi Sherry,

In Georgia, they actually sell a redeemable tax deed at the auction. So you are buying the deed, however it is redeemable  which simply means the owner at any time could come forward and say they want the property and the owner would then be required to pay you whatever you paid for the redeemable tax deed and a 20% penalty profit. Most people think it is an interest rate in Georgia, but it is a penalty return, and you would earn that the day the owner redeemable and it would always be 20%. 

Respectfully,

Hi @Nicholas Cruz

I can't get all the questions answered at once, a tax lien is filed against the property, when you purchase a property the title company of the escrow office, or attorney, depending on who does that in your state, would require the seller to pay all taxes so you will receive the property without encumbrances, if you put a encumbrance on that would be a mortgage or a deed of trust.

Respectfully,

Hi Richardo,

To look for upcoming tax lien auctions in Detroit you would check out Wayne County Treasurer website.

https://www.waynecounty.com/elected/treasurer/forfeiture-foreclosure.aspx

From there you will be able to look up the upcoming tax lien auctions.

https://www.waynecountytreasurermi.com/OutOfService.aspx

The tax list is available August 2019 for auctions

You could also check out Oakland County because parts of Detroit are in Oakland County.

Respectfully,

Hi Hannah,

Tax Auctions for property are based on a number and the crier-auctioneer will auction off a number. In Alabama as while as other jurisdictions, when they auction, they auction off a property tax number.

Respectfully,