Tax Deed Sales and Effective Title Searches in FL

[Chris Heinmiller]

Morning BP!

Does anyone have any advice regarding doing your own title searches? I've been spending a considerable amount of time researching the tax deed sales process in Florida, and although I'm starting to feel a bit more knowledgeable and comfortable with the process overall, there is still one component that really scares me- title searches. 

I know you can pay an attorney or a title company to run a title search for you, but that can be expensive, especially considering I'll want to run titles on multiple properties at once (in preparation for a tax deed auction). In addition, considering the best time to research the properties in question would be 24-48 hrs before the auction (to ensure you aren't researching too many properties that will ultimately be redeemed/ paid off by the owner), I'll need to turn the title searches around pretty quickly. 

I know how to pull records using the county clerk website and I know it is important to have a clear chain of title, but there is so much info that comes up when you do one of these title searches. What's important? What is irrelevant? Any big gotchas and watch-outs? I have not yet purchased my first tax deed property, so I worry that I'll execute the process relatively effectively, just to realize that I missed or misinterpreted something that will result in having to pay thousands for something on which I wasn't planning.

Thanks,

Chris

[Bruce Lynn]

I would also agree with @Ned Carey, with the exception of governmental liens.  Normally in my area those don't drop off and are not negotiable.  These would be things like lawn mowing liens, demolition liens on crack houses, code enforcement type liens, IRS liens, Federal Terrorism Task Force Liens, etc.  Occasionally if you are a nice guy, pitch the right plan....like I'm cleaning up the neighborhood and want to be a good citizen, and bring donuts and coffee to the people with the lien...every now and then they are nice back and might drop or negotiate with you...maybe 1/2...but I think that is more the exception than the rule.  My guess on most of these IRS will not pursue you for someone else taxes unless it is unusual...like 10,000,000 mansion you bought for $50 at the sale.