All Forum Posts by: Augustine Garcia

@Michael Zagorsky http://www.leg.state.fl.us/Statutes/index.cfm?App_...

This is the Chapter for Florida Propert Tax Code Statutes regarding Tax liens.

Good luck!

@Ned Carey I just finished reading the Tax Code Statute for Texas and the document states that the auctioned tax sales are of tax deeds. The county has made a judgment of foreclosure against the tax lien. The redemption period is two years with the reimbursement being all taxes paid by the purchaser, and all future taxes, interest, costs(such as property insurance and law care) and if redeemed in the first year an additional 25% and if in the second year an additional 50%. If the sale is of deed vs lien, can I sell the property before the redemption period?

In the meantime the law states that I can rent out he property with the original owners having no right to dwell and no right to any of the income made.

To me this seems like a clear opportunity with most risks being paid by rent or sale(after two years). 

Do you have any advice or any information of anything else I can read up on or research before making such a permanent decision on an unknown property?

I also worry that the property might have a need for some type of health or safety remediation. Like mold or asbestos.

Thanks in advance.

Augustine Garcia

I'm not sure about the attendance at the auction. This will be my first and I don't plan on pulling any triggers unless I can grasp the  full consequences or effects of purchasing the tax lien. To clarify, these are tax lien auctions not tax deed auctions I will be attending.

I've got ten properties in my scope, however, in order for me to foreclose on any of the properties, where can you direct me to learn the fine print.

I hope this makes sense, it's hot outside and this fence isn't gonna build itself.

Thanks Ned.

For example,

I have researched a property with a tax lien of $24k and court costs of $1k. The county appraises the property at $200k and the only lien on the property via the county clerk's records are this tax lien. There are no other liens from any other entities. Is it possible to own the property for a minimum of $25k and resale at market value(theoretically)?

Thanks in advance.

Forum Folk,

I'm reading about tax liens and I think I have it wrong. I assume if your purchase the delinquent taxes then you also own the property. Pretty sure I'm wrong. 

I'm in Texas and if I purchase the delinquent taxes then it seems I own the debt in the form of repayment from the homeowners at an elevated tax rate. 

Is this correct and if not could someone clarify what seems to be a murky area.

Thanks,

Augustine Garcia