Real Estate

[da1stlade]

What is the name of your state (only U.S. law)? Ga

I purchased some property at an tax sale auction on the courthouse steps. I bid, won and paid for the property. I was told that the legal owner would have 1 year to purchase the property back from me at the rate I paid for it plus twenty percent. It's been 1 year and two months I got the property surveryed, did some land clearing renovations and fenced it in with a privacy fence. I was contacted by an Attorney that the property has (2) liens on it in reference to the previous owner. What are my rights, I live in the state of Georgia.

 

[justalayman]

what are the liens for?

 

[LdiJ]

What is the name of your state (only U.S. law)? Ga

I purchased some property at an tax sale auction on the courthouse steps. I bid, won and paid for the property. I was told that the legal owner would have 1 year to purchase the property back from me at the rate I paid for it plus twenty percent. It's been 1 year and two months I got the property surveryed, did some land clearing renovations and fenced it in with a privacy fence. I was contacted by an Attorney that the property has (2) liens on it in reference to the previous owner. What are my rights, I live in the state of Georgia.

You are going to need an attorney. Tax auction sales are usually subordinate to properly executed liens.

 

[justalayman]

why would they need an attorney? If the liens are not removed by the tax sale, they owe the lien. I have yet to be at a state RE auction that did not provide a disclaimer that property is sold as is and there is no guarantee as to it having a clear title or there were no liens that would still be in place after the acution.


What they need to do is find out what the liens are for and if they can legally carry through the tax repo and sale process. If they can't, then they can take action to have the liens removed. If they remain attached, they can pay the underlying debt the lien is for.

 

[latigo]

why would they need an attorney? If the liens are not removed by the tax sale, they owe the lien. I have yet to be at a state RE auction that did not provide a disclaimer that property is sold as is and there is no guarantee as to it having a clear title or there were no liens that would still be in place after the acution.

What they need to do is find out what the liens are for and if they can legally carry through the tax repo and sale process. If they can't, then they can take action to have the liens removed. If they remain attached, they can pay the underlying debt the lien is for.

This fellow "they" must be inordinately charitable!