Buying in FL...

5 Replies

Has anybody bought govt reo in fl, the law is a little confusing.

I think its something like the owner defaults with the taxes and you come in and pay for them and after 2yrs you own the house if they have not paid the money back to along with some interest?? does this sound correct?

Hello,
I am not very knowledgable about tax liens. I am researching them myself for my state. I have not considered or heard much about gov't tax liens. I would think that the gov't has an inventory that they may want to get rid of.

That is why I suggested that you continue your research on the matter. If you find out anything, please share your information with the rest of us.

Thank you.

Originally posted by "Eager2Win":
Has anybody bought govt reo in fl, the law is a little confusing.

I think its something like the owner defaults with the taxes and you come in and pay for them and after 2yrs you own the house if they have not paid the money back to along with some interest?? does this sound correct?

You're talking about something else.

1. If you have been paying for someone's taxes for 7 years, you can takeover the property.

2. REO (banked owned properties) has nothing to do with taxes.

3. Tax liens bought in a tax lien sale has a redemption period of up to 2+ years, which can then be converted to a tax deed which will then be auctioned.