Six deals, start to finish
Non-Judicial — the same list, two very different deals
A 3-bed brick ranch in a stable Macon neighborhood comes up for non-judicial foreclosure. On paper it looks like a dozen others on the list.
Chain of title clean back to the current security deed. No senior mortgage, no IRS or federal tax lien, no judgments. Title risk: LOW. The foreclosing firm reliably proceeds.
Estimated after-repair value sat comfortably above the recorded balance; only light cosmetic rehab needed. The recommended max bid left a healthy margin.
The investor bid within the recommended max and won — taking immediate title, because non-judicial sales carry no redemption period.
When the title is clean, a non-judicial sale is the fastest path to a deed. The research is what tells you it’s actually clean.
A larger home on the same list draws a crowd — the recorded debt looks like a steal against the home’s value.
Two problems. A recorded IRS federal tax lien against the owner, and a second security deed. The foreclosure was on the second-position deed — so the senior mortgage and the federal lien would survive the sale and follow the buyer. Title risk: high. Recommendation: do not bid.
Add the surviving senior debt to the winning bid and the “steal” was actually above the home’s value.
A bidder without research saw only the low apparent entry price, won — and inherited tens of thousands in senior liens. The bargain became a loss. Our member passed.
The hammer price is not the cost. On a non-judicial sale, senior liens survive — and the only way to know is to research the title before you step into the circle.
Judicial In-Rem — redeemed vs. kept
A court-ordered in-rem tax sale. The investor wins the property for not much more than the back taxes owed.
Clean court order; taxes and parcel confirmed. In-rem sales carry a 60-day right of redemption for the owner of record only — and it pays no premium: a redeeming owner simply triggers a refund of the winning bid. This owner had active family.
Worst case: the owner redeems and the investor gets the bid refunded — two months of tied-up capital, nothing earned. Best case: keep a property bought for back taxes. That math only works if you actually want the house.
Within the 60 days, the owner’s family redeemed — and the investor received a refund of the bid, nothing more. Under O.C.G.A. § 48-4-81 an in-rem redemption pays the investor no premium.
Know which sale type pays you to lose. On a sheriff’s levy, redemption is a 20% yield; on a judicial in-rem it’s only your money back — so bid an in-rem only on a property you’d be happy to own.
Another in-rem sale, similar profile — won near the tax amount.
The owner was deceased and the estate inactive; redemption looked unlikely, but the 60-day clock still had to run. In-rem foreclosure clears most prior claims.
If no one redeems, the investor finalizes and holds a property for a tax-sale basis far below market value.
The 60 days passed with no redemption. The investor finalized and took title.
The short, court-backed in-rem window makes it the most reliable path from tax sale to ownership — when the research says redemption is unlikely.
Sheriff’s Levy — the patient lien play
A sheriff’s-levy (Fi Fa) sale. The investor buys a tax lien — not the property — for the back taxes.
A 12-month right of redemption at 20%. The owner was active and the home occupied — redemption likely.
If redeemed: 20% return over up to a year. If not: the path opens to foreclosing the redemption and taking the deed.
Around month nine, the owner redeemed — paying the lien plus 20%.
Sheriff’s levy is a patient lien/yield play first. The 20% is the base case; ownership is the upside.
Another levy purchase at a deep discount — back taxes on a vacant property.
The owner was unreachable and the property abandoned — redemption unlikely. We mapped the 12-month clock and the steps to bar the right of redemption.
Hold the lien 12 months; if no redemption, foreclose the redemption right and take the deed for a fraction of value.
Twelve months passed with no redemption. The investor barred the redemption and took title — a property acquired for pennies on the dollar.
The longest game pays the biggest discount. When the research says redemption won’t happen, a sheriff’s-levy lien can convert into ownership at the deepest basis at the auction.
The October 6 list is live
Every property on the next sale, with the parties and what we found in the records. See how these stories start, before the gavel. See this month’s list.
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First Tuesday Report publishes research and analysis on properties advertised for the monthly Bibb County, Georgia foreclosure and tax sales. Before you use it, please understand what it is and what it is not.
- It is not legal, financial, investment, tax, or appraisal advice. Using this site does not make us your attorney, broker, appraiser, or fiduciary.
- It is not a title search, title opinion, or title insurance. Our title and lien notes are research compiled from public records. They are not a substitute for a licensed Georgia attorney or title examiner.
- Auctions change without notice. Sales are postponed, cancelled, redeemed, or withdrawn, sometimes on the morning of the sale. Opening bids, values, and property condition may be incomplete, out of date, or wrong.
- You are responsible for your own verification. Verify everything against the primary records and consult a licensed Georgia attorney before you bid.
- No outcome is guaranteed. Nothing here promises profit, clear title, or any particular result.
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