Tax deed in Florida
I was the high bid on a tax deed in a condo-hotel in Florida. I'm not really sure how that happened since there is a significant lien both from the condo association and the mortgage company. Both liens disappear since I acquired the property via tax deed auction.
I know I must perform a quiet action to get clear title so here's where I need some clarificatification:
1. Why the other lien holders didn't buy the tax lien is are real puzzler to me.
2. I want to move forward with a good relationship with the owner's association, but I will not pay the back association fees.
3. There's got to be some surprise waiting for me that I just haven't thought of yet.
Can anyone with experience in purchasing condo tax deeds in Florida shed a light on what I am to expect?
Jean Norton
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#1 General Real Estate Investing Contributor
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- The Woodlands TX / Avon, CT
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#1 General Real Estate Investing Contributor
- Investor
- The Woodlands TX / Avon, CT
This thread is a perfect example of why you must be prepared to deal with many unknowns when bidding on tax sale auctions.
Many gurus and books make it sound like buying at tax sale is easy. It is one of the most complicated and legally convoluted businesses in the real estate industry.
However, it can be tremendously profitable!
- Don Konipol
