First, I appreciate your article. I’ve done much research and you lay it out plain as day.
However, I just wanted to know if I understand Florida exactly. You said we’re a hybrid state of a sort. Does this mean that if I own a tax certificate and the property owner doesn’t pay, I HAVE to apply for tax deed sale, or can I foreclose and own the property – skipping tax deed auction? That is the one detail I have not been able to nail down, and which state does do that? Georgia? (I only ask about it because it’s close to me.)
Thanks so much!
Thank you for checking out our site and I’m so glad you enjoyed the article. It sounds like you are pretty well versed on the subject of tax liens and tax deeds. Great questions. These laws do vary by state and get quite specific and complicated with certain due dates and default periods. In Florida: A bidder who has the highest bid at the Tax Certificate Sale will be issued a Tax Lien Certificate which means the tax lien will be paid to them plus interest. It doesn’t mean that they own the property at this point. If the tax lien, interest and/or penalties haven’t been paid within two years, then they can ask for a public auction to take place and this would be referred to as a Tax Deed Sale. The money made at this sale is then used to pay off the remaining balance of the tax lien certificate.
If you need more specific information and want to know about redemption periods and more about how the process works in Florida and Georgia, I suggest calling the county clerk, deeds office, office of recording or whatever it’s called in your city. It’s also a good idea to consult with an attorney in your area.
All the best,