How does the Alabama Right of Redemption Law work?

Asked by Cestes, Naples, FL Thu Aug 23, 2012

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rstokesneeson’s answer
rstokesneeson, , Fairhope, AL
Sat Aug 25, 2012
The Alabama Redemption Law is possibly the most misunderstood law in Alabama. Foreclosed properties or property bought on the courthouse steps can be an exellent investment with downsides that can be minimized by prior research. The fear of redemption is grossly exagerated. Out of 1118 foreclosure deeds issued in 2010, there were NO redemption deeds issued on these properties that I could find. If you would like a detailed explanation of why foreclosures can be an excellent investment vehicle, email me at or call me at 251 591 2568. I'm not an attorney, but I do understand foreclosures.

Roland Neeson
Keller Williams Realty
Fairhope, Alabama
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Mary McNair, Agent, Foley, AL
Thu Aug 23, 2012
Another critical thing to be aware of when buying a foreclosure is that you don't get clear title until the one-year anniversary of the property being sold on the courthouse steps (i.e. foreclosure sale).

You'd have to keep detailed records of everything you did to the house to make it safe to occupy. Things like changing out functional countertops with granite may not be considered a reimbursable expense if it was a preference change. But fixing the roof, replacing appliances that weren't working or unsafe, replacing carpet that was beyond salvage, etc., are examples of things that should be reimbursable, but you have to prove it was necessary. So take lots of pictures of the before to back up your case.

The longer a property has been on the market, the less likely you would have to give up your home. But it does happen, although very rarely. You basically have to ask yourself if you are willing to risk being one of the very few that it does happen to.

Also, don't assume foreclosures are the best deals. It can be worth paying a little more to own it with a clear title from day one.

Give me a call if I can help you with your home search.
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