Has Anyone Done Tax Deed Auctions in FL?

[Bob Asad]

Anyone done tax deeds in Florida or participated in the auctions?

What are the watch outs or steps that you recommend?

Often times, there's houses or land worth $500k listed with an opening bid of $30k which is a fantastic deal; however, if you were to win the auction, there may be multiple liens and $100s of thousands of hidden fees that you have to pay at once (based on what I read online). So it may end up costing you $400k within 30-60 days without any financing options.

How do people overcome this when you do your due diligence? Do you hire a title company for all the properties you're interested in before the auction? (ex. you like 20 properties, would you pay $150 x 20 properties before the day of the auction?) In other words, you would have already invested thousands prior to the auction just to research the properties and their titles.

What is your recommendation because without doing a proper title search (which sometimes takes weeks and passes the auction date), how would you know if what you're buying is a good investment?