Caveat Emptor
Know before you bid: Florida Tax Deed insights
A series of articles helping prudent tax deed investors maximize profit through essential pre-sale research of Florida tax deeds before bidding at auction. Even though due diligence may not uncover everything, going into a sale unprepared is highly risky.
This article focuses on Assessing Publicly Available Records – county and municipal resources – that may be assessed online, by phone or in person, depending on the specific office policy.
County Resources
- The Property Appraiser may document property improvements, indicate market volatility, provide a map-based (GIS) search to verify boundary lines or show ingress/egress, and show environmental and wetlands designations.
- The Tax Collector sometimes provides information on nuisance liens or outstanding homestead tax liens directly on their website, other times a phone inquiry might be required.
- The Clerk of Court Official Records contain data about open code violations/ municipal liens, demolition orders, resolutions, special assessments or utility liens, some of which survive the sale and remain the responsibility of the successful bidder. (See Fla. Stat. ยง197.552 for more information).
- The Tax Deed Department can provide documentation related to the specific property, including a property information report summary.
Local Ordinances
The tax deed statutes preserve the validity of easements and restrictive covenants that control use of the land. Contact the city and/or county office the property is located in, and they will be able to direct you to the correct department for your question: planning & zoning, code enforcement, community improvement, etc. These will help you determine if the property is buildable. (See A to Z Props., Inc. v. Fairway Palms II Condo. Assoc., Inc., 137 So.3d 453 (Fla. 4TH DCA 2014).)
Proper due-diligence takes time, and some investors consider having a title/lien search company run a report regarding encumbrances to help narrow down the best properties available. We are happy to provide recommendations upon request.
BE INFORMED and HAPPY BIDDING!
Winning the auction does not guarantee insurable title but Clear to Sell is here to solve this problem quickly and efficiently.
Call our experienced Customer Service Team on 855 680 4908 for more information. Or email them here.