The Florida tax lien sales are done for the year. Most of them are over by June 1. But did you know that there are plenty of Florida deed sales online all year long? Unlike other states where deed sales only happen once a year, some counties in Florida have sales as often as once a week! And some of these counties conduct their sales online.
The reason that there are so many deed sales throughout the year in Florida, instead of just one county tax sale each year, is that Florida is really a tax lien state. Their lien sales are held only once a year in May. What’s different about Florida liens is that you do not get to foreclose on the property if the lien doesn’t redeem. Instead, you apply for the property to go into a deed sale. The property is sold at the tax deed auction, and the tax lien is satisfied. There are pros and cons to this system, both for the lien holder and the tax deed investor.
Pros and Cons for the Tax Lien Investor
As long as you do your due diligence on the sale properties and only bid on good properties, you won’t have to worry about getting the property. You can be confident that someone will bid on the property at the tax sale and your lien will be paid. You do have to pay an application fee (which varies with each county) and you will have to redeem any other outstanding liens and pay any subsequent taxes. The bright side to this is that everything you pay from this point on will earn 18% interest until the property is sold at the tax sale, or is redeemed. The property can still be redeemed until it is actually purchased at the tax deed auction.
Pros and Cons for Tax Deed Investors
Since there is a continual feed of properties into the tax deed sales from tax lien investors, there are multiple tax sales a year, perhaps even each month. The drawback to this is that unlike the big county sales in other states there are a limited amount of properties in each sale. Competition can be intense, especially if the tax sales are online.
Want Specific Training For Online Tax Deed Sales Around The Country?
You can find out more about online tax deed sales around the country in Tax Lien Lady’s Guide to Online Tax Deed Sales. Discover where to find the tax sale information, how to register for these tax sales and how to research tax sale properties online.