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 in our series Considers the Physical Aspects of a Property that should be assessed before bidding.
Where to start? That’s easy. Go to the County property appraiser’s website.
- Sometimes they put warnings directly in the legal description.
- Conduct a GIS search, even though they may not be perfect, they can be a strong indication of property lines… to ensure you’re not buying a property with half of a house on it, or the parcel doesn’t cross into the neighbor’s driveway, or its not only a mailbox (all of which we have seen and could have easily been avoided with proper due diligence).
- Review the “Land Use” or similarly named designation. You do not want to by a lake parcel within an HOA common area.
You can learn a lot from a quick drive by the property, but remember DO NOT TRESPASS
Such as:
- Is there an access point for vehicles and pedestrians? If not, it could be landlocked and there is no certainty that an access can be purchased or leased, without litigation.
- The more rural the property, especially those that are unplatted, the more likely a survey will be necessary, which is an additional cost.
- Are there any notices posted on the land or external fencing?
- Is the property overgrown, used for dumping or parking by neighbors, or otherwise unsightly? This consideration will go into the costs of clearing and gives a strong indication their might be liens that survive the tax deed sale against the property.
- What condition are the properties/lots on either side, opposite and further down the street like? Will your plans for the property fit in with the surroundings?
- Does the property apprear to still be occupied? A writ of possession or even an eviction may be necessary.
Keep in mind*** While exterior condition may give you a general idea of the condition of the structure on a property, always assume the worst for the internal condition (because it will be completely unknown) and make allowances for repair and rehab.
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.
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