Tax Deed investment can be a rewarding venture, and you may find yourself with an interesting hobby or even a full-time business, that has great potential for a big return on your investment. If you are a new investor, I urge you to take your time and learn as much as you can about the process. Even for seasoned investors, investing in tax deeds carry some risks, so it’s important to have an experienced Florida Real Estate Lawyer, like myself, in your back pocket.
First, you should understand that a tax deed is a conveyance of real property by the county tax assessor as a result of a property owner’s long-term non-payment of their property taxes. My simplest explanation is that the tax assessor can assert its lien by selling the property and the municipality recoups any taxes owed to it. Now, keep in mind that no two counties are alike, so it’s a good idea to do some due diligence before jumping in with both feet. There are rules and regulations that differ, but once you figure out the ins and outs it is relatively easy to maneuver through the tax deed sale process.
Another important aspect I want you to know about Tax Deeds is that you do not have marketable title. You will need to set aside some funds to hire a lawyer to do a Quiet Title lawsuit. Remember, if you want to sell your property as quickly as possible, don’t wait until closing to find out you need to clear up your title. Once you obtain your tax deed, go ahead and get started with the Quiet Title process. This can take a couple of months or longer, depending on the situation and details of your case. Every case is different, but on average my office takes about 3 months to complete a Tax Deed quiet title. I am an investor and I do not drag things out for my clients. I know that time is money and the goal is to turn this property around and move on to the next investment.
The Law Offices of Robert Peters handles Quiet Title cases all over the State of Florida. Call 904-421-6907 for a free telephone consultation or visit our YouTube channel by clicking here.