what is a "tax deed sale"? when and how often do they occur? any big risk to them? all info will be appreciated. thanks

Asked by kwhatman, Key West, FL Tue Oct 1, 2013

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Hickory & Do…, Agent, Jacksonville, FL
Tue Oct 1, 2013
Each year we receive a bill for the county/city taxes in early November to cover the taxes for schools and for our local government....it is sent by the tax collectors office. We have until April to pay the taxes for that year....example...in November, 2013, you receive the tax bill for 2013. If it is NOT paid by APRIL, 2014, you are delinquent.....the tax collector's office will need to collect money to operate the city/county....so....it sells the "tax certificate" to the highest bidder (whch means the person buying the certificate PAYS the tax due and will be able to charge the interest [the lowest interest bid wins the day] until the date the owner of the property pays the taxes on that property. ....until the time that 3 years of taxes have not been paid by the owner....at which time the property will be sold "on the courthouse steps" ( actually done by computer now...BUT ...it used to be done in the lobby of the courthouse)........The sales are usually done a few times a year....check with COJ.com for more information and dates of sale. You will find a 4 page (in blue) flyer in the tax collectors office in the Yates Building on Forsyth Street (first floor)....diagonally across from the Florida Theatre.
Thanks for your question.

Donna Delegal
"The Real Estate Lady"
Oceanside Real Estate
startpacking@comcast.net
(904) 732-PACK 732-7225
1 vote
Steve Quinta…, Agent, Albuquerque, NM
Tue Oct 1, 2013
A tax deed sale is a sale by the state tax authorities of properties with delinquent taxes. The properties may come with other liens attached. A reasonable person will do a title search of the property before bidding at a tax deed sale to insure they are getting a good deal as opposed to a property that is encumbered by liens.

A reasonable buyer will make sure the risk they take on in a tax deed sale is only what they can handle. Risk can be minimized by due diligence and/or retaining a expert to guide the buyer thru the process.
1 vote
A tax deed sale will give you full ownership of the property after the times mentioned above, ONLY if there is no mortgage. The first mortgage is a lien on the property that will take first position. You need to research any property that you are considering buying the tax deed.
Flag Thu Oct 10, 2013
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