Tax Deed

Some counties interpret this law in the favor of the delinquent property owner and even allow them to redeem right before the Tax Deed is signed over to the highest bidder. Because of this the investor in the lien has no guarantee of securing the deed.

There is a saying in baseball – three strikes and you are out. So far there has only been one strike – the Sub Prime strike. The second strike, the ARMs strike, is what is just now starting to unfoldĀ  and the prime rate strike is looming on the horizon against those who were once good payers of their monthly mortgage and have now lost their jobs. The banks know it and are preparing for it. Why do you think they asked for the $9 trillion? Expect the next fiscal year to reflect this disaster.

Most of the foreclosed property in tax deed sales is sold through public auctions where the property is sold to the highest bidder directly. Though tax foreclosure sales of deeds are not as highly advertised in the foreclosure market, but it is possible to find some great deals through this avenue.

Generally speaking those who invest in the Tax Lien Sales are investors with larger sums of money, or the ‘institutional investor’ who may have millions of dollars in which to invest in the Lien Certificates. For the complete Florida statutes see Florida Statue 197.542 Sale at public auction.

A:Only deed states that award the excess proceeds to the owner of record of the property at the time of the tax sale. Keep in mind that you have be the owner of record at the time of the sale, which means that the deed needs to be recorded a couple of weeks before the tax sale. This can be difficult if the tax sale list is not published until 4 weeks before the tax sale. Another way to do this more efficiently is to use the delinquent tax role instead of the tax sale list. You can get the delinquent tax role at any timeĀ  not just before the tax sale, but you may have to pay the county to get it. Also you need to contact the right person to get this list.

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