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Updated over 10 years ago,
Florida Tax Deed Auction Question
A family friend knows I flip houses and told me about a house (in FLorida) going up for tax deed auction. There was paperwork posted on a home in his neighborhood. Ive never looked at getting a house this way as I always thought you had to wait 2 years and probably just end up getting interest. But after researching it appears that there are tax certificate sales and then tax deed auctions. It seems all people who buy certificates, wait, then STILL have to put the house through a public auction and subject it to a bidding process? The amount of the sale(i guess auction starting price) is significantly less than what the house is worth and there are no mortgages on it, just some county liens. So im assuming the auction will be just like a regular foreclosure auction in which its the same thing as throwing a piece meat to rabid dogs, they will bid it up much higher than the amount of back taxes due. So I was wondering:
1. Is it accurate the people who own the tax certificates for last 2 years don't have a special right to take property back without auction?
2. By the time something goes to auction, you can actually be high bidder and own it in a short amount of time with a quiet title as long as title isn't encumbered with other liens that don't get whipped out in tax deed sale?
3. Are irs and county code enforcement liens the main ones that done get whipped out? (there is no real HOA in this place)
4. If I contacted the current person on the deed, the person who didn't pay their taxes and offered her X to buy the place, THEN paid off the tax deed, could I forgo the auction process? Is there a better way to do it other than letting it go to auction?
Thanks for any help.