Confused
Hello i'm new to the forum and i have a couple of questions. I live in st. petersburg fla and i have my eye on two properties that are up for tax deed sale in october ,i would like to purchase one or both of them. I called to have a title check on the properties i was told the cost to be around 150 dollars each is that about right? Also he said depending on the search ,there may be more people with claim to the property, how does this all work?
If you are in FL, please explain. In FL you buy tax leins at a tax lein auction, which means you are only putting a lein on the property. you do not get the property. It is a First lein, which is great.
But to get the property you would have to be buying it at a sheriff sale which is if the person does not pay his tax bill in two years the county foreloses and the sheriff sells the property. You may buy it at the auction which pays or wipes out all other leins. If you buy the tax lein in FL you cannot foreclose on the property.
So are you buying a tax lein or at a sheriff sale.
If you are buying a tax lein then you do not need a title search, If you are buying at a sheriff sale, ask the sheriff if the proerty becomes free and clear if you purchase it at the sale. if it does no title search is needed. If not pay the money it is about normal, or go to the court house and do it your self. all leins are recordrd there.
Thanks for reply. As far as i know it says tax deed sale . If i'm not mistaken there is a diffrence right.
You are correct, if it's a tax deed sale, which they have all the time in Florida, you will get the property. Just do your comps and settle upon a price that your willing to spend, you will be bidding with other people, so good luck.
Check for unpaid balances on the property for city utilities, those liens placed on the property by the county also come do to get the deed, ie.
you win the auction property for 6,000
property value 10,000
good buy.. but you didnt know it had a 3,000 unpaid balance on sewer..
you just paid 9,000 for that property..
due diligence
good luck with that
MT
[addsig]
Yes i plan to go to courthouse monday to research the properties. The properties appear to be in average shape. How long would i be required to hold properties before i can sell?
Hello guys today i drove by one of the properties i,m interested in and someone was there cleaning the property does that mean the owner sold the property or that he's going to redeem?
I was going to ask you if you had tried to contact the current owners to see if they would sell it to you before it went to the auction?
You may be able to get a better deal than at the auction, so many people buying at those things now and they have deep pockets.
I was thinking of contacting the owner of the property , but was'nt sure if that was the right thing to do. I got his name maybe I will try to get a number and see whats going on . The property seems to be pretty clean no major leans on the property and it may be free n clear didnt show a current mortgage note.