Floriad Tax Liens Question?
I dont understand one ****Must Reach Senior Investor status before posting URL's*** Florida when you but a tax lien, after the redemption period .they put the property back on auction(In balt the property becomes yours) Whats the sense in buying if you cant keep
Hi tjbab,
The "sense in buying if you can't keep" is to make the penalty and interest. You can't keep the property in Florida because you didn't have it in the first place (you only acquire the TLC at the first auction). You can still get the property by being the highest bidder at the second auction. My guess is that you would'nt acquire it cheap though. If you are after the property, Florida may not be the best state for you.
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[ Edited by rajwarrior on Date 11/02/2003 ]
What about struck off properties in florida
thanks
tim
I've been looking at the properties that didnt sell at auction. So far the ones i've checked out have alot of liens against them for a variety of things. They're not bad deals, but not that great either. They're primarily vacant lots too, so if that's what you're looking for they're good. You have to have all the cash to buy the property for whatever the county wants, and then most of the lienholders are satisfied with payments since they're not getting anything the way it is. The lienholders that i've talked to so far charge fairly high interest though on the liens, like 10%. Anyway, I thought I had the perfect property from a tax list, but the liens against it werent worth having to put out all cash in advance when I could buy another property without strapping myself financially. If you happen to have the cash, they're probably great.