I think they are asking how much more than the price should you have. Example: The starting bid is $10,000 and goes up to $20,000. How much more would they need if they win the bid at 20k.
So if you bid 30k for a 200k property, does the home owner have to pay 36k (30k + 20% penalty on the bid)? If that is the case, then doesn't that guarantee that the owner won't be able to pay it back? If they can't pay a 3k tax, how could they pay 10 times that?
The threat of losing their property makes most people cough up the money. Typically they have it. Rarely do they not have the wealth needed to payoff the taxes
Hi Ted, 2 questions. Can you clear the clouds on the tax deed title by quit claim deed if you negotiate with previous owner? On tax deed properties do you have to foreclose on the previous owner after you buy and wait for 1 year even just for possession? Thank you
Thanks for asking your question. You’re making it a little complicated. The answer to your first question is no you can’t clear the title with a quit claim deed. Regarding your second question, the quiet title will do all the clearing, you don’t have to do anything. I am not giving you legal advice and I am not an attorney. - Ted Thomas
Are the mortgages wiped out if you buy a tax deed in GA?
The investor who buys the tax deed is not responsible for the mortgage.- Ted Thomas team
So Georgia redemption period is just one year? After that the certificate holder can claim the property?
Yes! - Ted Thomas Team
Thank you so much for this information
Are you able to see how much the properties were sold for in Georgia?
Some counties do give you a list of post-auction results, you would need to check with the tax commissioners office - Ted Thomas Team
About how much capital should I expect to have to attend my first auction
If you would like to go to a tax deed auction I recommend at least $15,000 - Ted Thomas Team
I think they are asking how much more than the price should you have.
Example: The starting bid is $10,000 and goes up to $20,000. How much more would they need if they win the bid at 20k.
So you have to wait one year before you can possess the property
Yes you either get paid 20% of your total investment or after 365 days you can possess the property - a win win either way! - Ted Thomas Team
If the tax owed is $500, but the highest bid went to $2,000. Will the redeemer have to pay the $2,000 plus the 20%? Or just the $500 plus 20%?
$2,000+ 20% :) - Ted Thomas Team
Hi, Ted, thanks for this wonderful informative video. How do I go see the property?
Thank you! You can personally go view the property yourself or hire someone to do it!
Wow thank you ❤❤❤❤
Thank you sir!
Thank you!
So if you bid 30k for a 200k property, does the home owner have to pay 36k (30k + 20% penalty on the bid)? If that is the case, then doesn't that guarantee that the owner won't be able to pay it back? If they can't pay a 3k tax, how could they pay 10 times that?
The threat of losing their property makes most people cough up the money. Typically they have it. Rarely do they not have the wealth needed to payoff the taxes
Yes that is correct - you receive 20% of your total bid amount.
From what I’m hearing that is kind of the point. You most likely will end up with the property
Do you get the deed the same day? Also how do you know if they come and pay?
what is the overage deal and how does that work?
Here is some more information on overages: tedthomas.com/overages/
Could you please quote the website where I can get the Over the counter list in Georgia
Most counties in Georgia will re-auction the properties that did not sell the following month since they have monthly auctions - Ted Thomas Team
Hello, can you let me know if I can sell my lot at the tax deeds auction in Florida?
Yes they do sell lots at Florida tax deed auctions
How can i find the websites easy for every county in gerogia ? I tried florida but cant find other states
The auction information will be located in the Tax Commissioner section of every county in Georgia - Ted Thomas Team
Hi, the auctions in Georgia only take place in person, right? Or is there an online auction in Georgia?
One county right now is Online, Glynn County using GovEase.com. But majority of auctions will be held live in Georgia
Thank you so much for this information
Hi Ted, 2 questions. Can you clear the clouds on the tax deed title by quit claim deed if you negotiate with previous owner? On tax deed properties do you have to foreclose on the previous owner after you buy and wait for 1 year even just for possession? Thank you
Thanks for asking your question. You’re making it a little complicated. The answer to your first question is no you can’t clear the title with a quit claim deed. Regarding your second question, the quiet title will do all the clearing, you don’t have to do anything. I am not giving you legal advice and I am not an attorney. - Ted Thomas
@@Ted-Thomas Appreciate it Ted!