Specialist · Phoenix, AZ · Member since 2011 · 698 posts · 629 votes
14y
Eva,
I have bought tax lien certificates from AZ counties that use RealAuction for the last few years. No problems. Really you're dealing with the counties. The counties are just using the RealAuction software. I'm looking at doing some Florida certificates this year and I have been looking at the Tax Deed auctions that RealAuction does for those same FL counties.
Some newer investors may wonder why Florida would have BOTH tax lien certificate AND Tax Lien Deed auctions. It's just a different way to handle foreclosures. In other Tax Lien certificate states like AZ, you could buy the lien certificates on a property for 3 years. In AZ after 3 years, the certificate owner can foreclose on the property and they get the property if no one pays off the taxes (certificates).
In Florida, they sell the certificates. The owner of the certificates can foreclose after a set time period, but all that does is force the Tax Deed auction. The county then auctions the deed and whoever buys the deed gets the property - again assuming no one pays the past taxes (certificates) before the auction. The minimum bid for the deed covers the certificates so the certificate owner gets all their money plus interest back. If the certificate owner wants the property, then they have to bid in the Tax Deed auction and win.
Real Estate Investor · Baltimore, MD · Member since 2008 · 1k+ posts · 268 votes
14y
looks like realauction.com provides solution for counties who would like to sell their tax liens. Essentially they cater to the sellers by providing web-auctions platform to dispose of paper.
You gonna want to approach the county you want to invest in. Your own backyard is the best bet
Rehabber · Fort Walton Beach, FL · Member since 2011 · 240 posts · 48 votes
14y
Eva,
I have several tax liens that I purchased from them. They are basically just the middle man for the counties so they don't have to do all the legwork. I have had no problems with my purchases. Good luck to you!
Bronx, NY · Member since 2011 · 21 posts · 0 votes
14y
hi guys!
thanks for the reply!
Sherry: there is any particlar county that you recommeded?
what do you look at when you purchase them, certificate year, face amount, deed situation, homestead exemption?
also do you buy tax liens on houses/ residential or on vacan land?
i already open and account. It is very easy to set up.
Specialist · Phoenix, AZ · Member since 2011 · 698 posts · 629 votes
14y
Eva,
I have bought tax lien certificates from AZ counties that use RealAuction for the last few years. No problems. Really you're dealing with the counties. The counties are just using the RealAuction software. I'm looking at doing some Florida certificates this year and I have been looking at the Tax Deed auctions that RealAuction does for those same FL counties.
Some newer investors may wonder why Florida would have BOTH tax lien certificate AND Tax Lien Deed auctions. It's just a different way to handle foreclosures. In other Tax Lien certificate states like AZ, you could buy the lien certificates on a property for 3 years. In AZ after 3 years, the certificate owner can foreclose on the property and they get the property if no one pays off the taxes (certificates).
In Florida, they sell the certificates. The owner of the certificates can foreclose after a set time period, but all that does is force the Tax Deed auction. The county then auctions the deed and whoever buys the deed gets the property - again assuming no one pays the past taxes (certificates) before the auction. The minimum bid for the deed covers the certificates so the certificate owner gets all their money plus interest back. If the certificate owner wants the property, then they have to bid in the Tax Deed auction and win.
Investor · Hialeah, FL · Member since 2015 · 41 posts · 9 votes
9y
Hello Everyone! I am looking into purchasing a Tax Deed in Miami Dade County, Florida through Realauction.com I haven't been able to attend a webinar to understand how the system works.
@Jerry K. and @Sherry Lewis Do you know if I would be able to see the bid that other people are placing at the time of the auction? If I win the bid, how do I get the title for the property?
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
Realauction is the state designated auctioneer of tax liens, foreclosure sales, and tax deeds. You can watch the auctions AS THEY happen to see the other bids. You need to post some cash and sign up as a bidder to be able to bid. I can watch them in real time but do not know if you must be registered as a bidder to do so. If you are the high bidder, you have until the following day to pay for the property. You will be given a certificate of sale by the county.