HOW TO SELL A TAX DEED PROPERTY IN FLORIDA
Want to know how to sell a tax deed property in Florida, and sell it fast? Ted Thomas will show you an outside-the-box, win-win strategy that generates amazing wealth!
I’m Ted Thomas, and for the past 25 years, I’ve been involved in teaching tax lien and tax deed property investing.
Today I’ll show you how to sell a tax deed property in Florida and explain how to make money in this business of tax deeds and tax liens. For newcomers, I’ll explain the difference between tax deeds and tax liens, which is substantial.
I have a free gift for you, a streaming video mini course that will teach you the basics of tax lien certificates and how to make big profits in tax defaulted property. You don’t want to miss this. It will only take about an hour of your time and contains life-changing info.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – A 200-YEAR OLD BUSINESS
The business of tax liens and tax deeds has been practiced by the government for over 200 years.
County governments need money to pay employees and run many departments. The funds to run the county government come from individual property owners. All property owners are required to pay property taxes.
Some states have very low property taxes, like Florida and Texas. Conversely, some places like New York and New Jersey have high property taxes.
Markets and populations shift. People move away from high-tax states to low-tax states, and they sometimes abandon property because of the high taxes.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – WHAT IS A TAX DEED?
To know how to sell a tax deed in Florida, first you need to know what a tax deed is. What are they trying to sell?
Starting at the top, the state legislature authorizes counties in Florida to levy and subsequently collect property taxes.
If the property owner fails or refuses to pay property taxes, the county is authorized to seize, that is to confiscate, the property and sell the property at a public auction then use the proceeds to pay the county’s property tax bill.
Property owners forfeit ownership in the property if they don’t pay property taxes. The county will seize the property and sell the property at an oral bid auction, which might be on the courthouse steps.
Does a mortgage survive a tax deed sale in Florida? No. The act of the government seizing, confiscating and reselling at auction wipes out and deletes any mortgage by following strict rules and procedures.
The property owner will have received multiple notices and may have been served notices by the local sheriff.
This process of notification and notices is referred to as due process of law as defined here. The public auction is exactly that.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – WHAT IS A TAX DEED SALE?
Anyone may attend a tax deed auction, also called a tax deed sale, and the auctioneer in most counties is an employee of the county.
The bidding starts at very close to the back taxes already due in most counties.
In states that are desperate for money, like New York, rather than start the bidding at the back taxes, the county will add significantly to the base price and get extra money for the county. This may add significantly to the price,
In addition, they will use a commercial auctioneer which will also add to the price. The increased price will be in the area of 10% to 11%, which they will disguise as a premium bid, although this is really a commission.
My point is that some states will mark up the price. However, most states sell the property just for back taxes and late fees.
I’m not slamming New York. I’m just explaining the real world of doing business so that you are aware before you attend the auction and before it’s too late.
You need to understand the various risks of buying tax deed properties, including the quirks of the individual states and counties which can affect the price.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – TAX DEED AUCTIONS
Before we get into detail about how to sell a tax deed property in Florida, let talk a little about buying a tax deed property.
At the auction, the highest bidder wins. Florida will issue the bidder a tax deed, usually within 30, possibly 40 days. Once you have the deed, you can legally sell the property.
I instruct my students not to waste time after the auction. Immediately start the marketing process and engage whatever methods that you are already aware of to sell the property.
Do not wait for the county to issue a tax deed. Let the world know that the property is in transition and the property is for sale.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – SELLING PROPERTY
Be sure to watch this 5-minute video above that’s loaded with tips on advertising property and how to create a buyer’s list.
Consider multiple signs, Craigslist, ebay, all electronic auction sites, and Facebook. The more people who are aware and notified, the more and better chances of sale. Marketing the property is your key to success.
I’m not an attorney, a broker, or a CPA and don’t need to be to sell property. Selling real estate on your own is perfectly legal.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – DON’T WAIT TO SELL
It’s okay to promote and market the property while you are waiting for a deed from the county. Advise the new buyer while you are waiting for the deed that you are waiting.
Your success will be determined by many factors. Don’t wait. Get involved with the selling process. Don’t wait for the broker. If you do, expect many delays and excuses.
Selling must be in the front of your mind constantly. For example, change your ad on Craigslist daily. Use display ads on ebay. If you have a broker, talk to them every day and request a progress report.
HOW TO SELL A TAX DEED PROPERTY IN FLORIDA – BUY LOW, SELL LOW
Here’s how to sell a tax deed property in Florida or anywhere else: Buy low, sell low. Do it fast.
Auction properties sell quickly if they are priced correctly.
Think about my Walmart strategy. I’m just like Target, Costco and Walmart. I buy it low, sell it low, and sell it fast, then move on to the next property.
CONCLUSION
We hope you enjoyed Ted’s lesson, “How to Sell a Tax Deed Property in Florida.”
What gives you an edge when selling tax deed property is that you can purchase it for pennies on the dollar at a tax deed auction. This gives you a significant margin for profit.
Everyone loves a deal. You got one at the tax sale, and now you can sell that property fast by offering the buyer an irresistible deal too.
You can buy it low, sell it low fast, and then move on to the next property. This is Ted’s famous Walmart Strategy. It’s tried and true, and it’s a big win-win.
If you want to know how to sell a tax deed property in Florida, this is a way that works quickly.
Ted Thomas, who is Florida-based, has done this successfully countless times in Florida, and across the country, and can show you how to succeed at it too, like he’s shown many others.
If you’d like to know more, there is no one more qualified than Ted Thomas, America’s leading authority on tax lien certificates and tax defaulted property investing, to show you how to buy bargain real estate and sell it quickly.
For over 25 years, Ted’s been teaching students how to make big profits from investing in tax delinquent property and provides full support & complete training with home study courses, Q&A webinars, live tutorials, workshops & web classes, and personal coaching.
If you want to know how to find the best deals in real estate and profit beyond your wildest dreams, Ted Thomas can show you the way.
Want to learn more about bargain real estate? Would you like to buy nice homes for pennies on the dollar, and without a mortgage? Or earn outrageous interest rates secured by real estate? Then you don’t want to miss the FREE Master Class.
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