Quick Guide to Snagging a Property in Forsyth County, Georgia
Interested in securing your dream home in Forsyth County, Georgia, through tax sales? You’re in the right place. Let’s walk you through the essentials of buying a property via tax deed sales in this charming part of Georgia.
Forsyth County Tax Deed Sales
What is a Tax Deed Sale?
A tax deed sale in Forsyth County happens when properties with unpaid taxes are auctioned off to recover the owed amounts. The highest bidder at the auction wins the property. The starting bid includes the total tax due plus additional costs. If no one meets the minimum bid, the Tax Commissioner can bid for the county.
Redemption Period
Once you buy a property at a tax deed sale, the original owner, creditors, or other stakeholders have one year to reclaim it. They must pay the purchase price, a 20% premium, and any post-sale taxes or fees you’ve paid. If they don’t redeem the property within a year, you can start foreclosure proceedings to secure full ownership.
Payment Methods
Winning bidders must pay the full amount immediately after the auction using cash, certified checks, or money orders. Additionally, they need to sign a statement confirming the purchase at the bid price.
Steps to Start Tax Deed Investing
Research Local Laws
Understanding local laws is crucial. Familiarize yourself with Georgia’s tax sale laws, particularly those in the Official Code of Georgia Annotated (O.C.G.A.). This helps you navigate the process and avoid legal issues.
Visit the Forsyth County Tax Commissioner’s Website
Pro Tip: Pay post-purchase taxes promptly. This helps protect your investment from additional liens or another tax sale, which could weaken your position as the deed holder.
FAQ in Forsyth County Tax Sale
Q: What happens if no bids meet the minimum requirement at the auction?
A: The Tax Commissioner may bid on behalf of the county.
Q: How long do I have to redeem a property after purchasing it at a tax deed sale?
A: There is a 1-year redemption period for property owners, creditors, or other stakeholders to reclaim the property.
Q: What forms of payment are accepted at the auction?
A: Payments must be made in cash, certified checks, or money orders.
Have more questions or need help with tax lien investing? Feel free to reach out. You can book a call with our experts or access free resources to help you along the way. Let’s start your real estate investment journey together!
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Learn how to get 18-36% returns on your investment and buy property for as little as $500 with tax lien and tax deeds.
Lien Sales Annually Oct – Nov. Deed Sales Are Held on a Needed Basis and Only on Properties That Were Not Sold at Lien Sale and Were Held by the County for 18 Months
10% Penalty if Redeemed in 1st 6 Months, 15% Penalty if Redeemed in Months 6-12, but Only on the Taxes and Fees Not the Overbid. Overbid Amount Receives 5% Interest.
Redemption Period:
1 Year if Sold at County Sale, Liens Not Sold at County Sale Are Certified to Commissioner and Sold in “Commissioner’s Certificate Sale” With 120 Day Redemption Period
Online Auction:
Yes
Over the Counter:
No but There Is a Second Auction Called a Commissioners Certificate Auction With a Shorter Redemption Period of 120 Days
25% Penalty Per 6 Months for Non Homestead or Special Land Use Properties. If 2 Yr Redemption Period Applies 25% for 1st Year and 50% Penalty for 2nd Year
Redemption Period:
6 Months for Most Properties. 2 Years for Homestead and Special Land Use Properties
Online Auction:
The Vast Majority No, but in 2019, Two Counties (Victoria & Orange)
“Upset Sale” First With Premium Bidding Which Does Not Extinguish Other Liens, Followed by “Judicial Sale” Where All Liens With the Exception of Irs Liens Are Extinguished
Frequency:
Annually Throughout the Year. Upset Sales Typically Held in the Fall. Judicial Sale Typically in the Spring but Could Be Anytime After the Upset Sale.
Interest Rate / Penalty:
N/A
Redemption Period:
N/A
Online Auction:
Very Few
Over the Counter:
Yes Through “Repository” List With County Acceptance
Forsyth County
Quick Guide to Snagging a Property in Forsyth County, Georgia
Interested in securing your dream home in Forsyth County, Georgia, through tax sales? You’re in the right place. Let’s walk you through the essentials of buying a property via tax deed sales in this charming part of Georgia.
Forsyth County Tax Deed Sales
What is a Tax Deed Sale?
A tax deed sale in Forsyth County happens when properties with unpaid taxes are auctioned off to recover the owed amounts. The highest bidder at the auction wins the property. The starting bid includes the total tax due plus additional costs. If no one meets the minimum bid, the Tax Commissioner can bid for the county.
Redemption Period
Once you buy a property at a tax deed sale, the original owner, creditors, or other stakeholders have one year to reclaim it. They must pay the purchase price, a 20% premium, and any post-sale taxes or fees you’ve paid. If they don’t redeem the property within a year, you can start foreclosure proceedings to secure full ownership.
Payment Methods
Winning bidders must pay the full amount immediately after the auction using cash, certified checks, or money orders. Additionally, they need to sign a statement confirming the purchase at the bid price.
Steps to Start Tax Deed Investing
Research Local Laws
Understanding local laws is crucial. Familiarize yourself with Georgia’s tax sale laws, particularly those in the Official Code of Georgia Annotated (O.C.G.A.). This helps you navigate the process and avoid legal issues.
Visit the Forsyth County Tax Commissioner’s Website
For detailed information, visit these links:
Check the Auction Site
Tax sales are conducted using the steps of the Forsyth County Courthouse. For upcoming auctions, visit:
Contact the County Office
For more questions, you can contact the Forsyth County Tax Commissioner’s office:
Here’s a handy reference table for Forsyth County tax deed sales:
Pro Tips
Pro Tip: Pay post-purchase taxes promptly. This helps protect your investment from additional liens or another tax sale, which could weaken your position as the deed holder.
FAQ in Forsyth County Tax Sale
Q: What happens if no bids meet the minimum requirement at the auction?
A: The Tax Commissioner may bid on behalf of the county.
Q: How long do I have to redeem a property after purchasing it at a tax deed sale?
A: There is a 1-year redemption period for property owners, creditors, or other stakeholders to reclaim the property.
Q: What forms of payment are accepted at the auction?
A: Payments must be made in cash, certified checks, or money orders.
Useful Links
Need a Hand?
Have more questions or need help with tax lien investing? Feel free to reach out. You can book a call with our experts or access free resources to help you along the way. Let’s start your real estate investment journey together!
Sign up or log in to view the full content.
Join Us
Learn how to get 18-36% returns on your investment and buy property for as little as $500 with tax lien and tax deeds.