Florida Tax Deed Redemption

Comments(6)

• 
  Taxivestor17th July, 2005

  Quidam:
  
  You post as follows:
  
  The cert holder does not automatically get the property, s/he must request the property be sold and pay all costs of the sale. This constitutes the opening bid, and only if no one else bids does the cert holder get the property.
  
  
  Does this mean that the cert holder must put up "...all costs of the sale" prior to the sale being held?
  
  If outbid will the cert holder get back his upfront payment?
  [/quote]
  
  Thank you.

• 
  Taxivestor17th July, 2005

  Quidam:
  
  You post as follows:
  
  The cert holder does not automatically get the property, s/he must request the property be sold and pay all costs of the sale. This constitutes the opening bid, and only if no one else bids does the cert holder get the property.
  
  
  Does this mean that the cert holder must put up "...all costs of the sale" prior to the sale being held?
  
  If outbid will the cert holder get back his upfront payment?
  [/quote]
  
  Thank you.

• 
  J4weelin31st August, 2005

  I have purchased a few TAX DEEDS, the deed is unmarketable, unless you file a suit to quiet title, in florida- but if you hold the property for a couple years and pay property taxes on time, you could sell to an investor on a warrantee deed... so i have been told.
  
  anyway, people dont pay taxes then certificates are sold to cover those taxes, and after no less than 2 yrs no longer than 7 years the holder of such certificate can demand reimbursement, with interest calculated by tax collector. if owner does not redeem himself by paying all back taxes plus interest and penatlies, then it goes up for a tax deed sale (or auction) to the highest bidder, the costs of holding the auction and advertising the auction everything is included with the back taxes and filing fees to get the starting bid price.... if it sells for more than what the starting price is, the "leftovers" after all fees and blahblah are paid goes to the owner before the tax sale as profits on the sale.... so with all that said, there is no redemption after the tax deed is recorded with the local tax collectors office, but there is always the chance the tax collector didnt really do all they were supposed to do to let owners know it was going up for auction...thats when things get tricky, and is why they require a suit to quiet title.

• 
  quidam1st September, 2005

  Taxivestor--Yes, the cert holder must pay all the costs of the sale. First, the cert holder must pay the title search and application deed fee, plus buy out all other cert holders and pay current taxes owed. Then, if not redeemed, must pay costs of sale.
  
  Those costs constitute the initial bid (except on homestead properties where 1/2 assessed value is added). The cert holder can attend the sale and make a higher bid if s/he wishes. If outbid, all the costs will be reimbursed.

• 
  ironworker116th September, 2005

  Any help would be appreciated

• 
  krish21st September, 2005

  I have the book/CD as well as email updates.
  Not bad for the price of the material. Have never
  implemented it though.
  -Krish