I am considering purchasing a tax certificate in an upcoming auction in Florida. I am brand new to this arena, so can someone advise me on the process? For instance, where can I find the physical property address based on the legal address/description? If I have the winning bid, do I take ownership of the property outright? What pitfalls should I look out for?
If you purchase a tax certificate, do you actually take ownership of the property?
Posted in Uncategorized.
– February 16, 2010
One Response
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No, you are not buying a house, you are buying a debt. You pay $xxx.xx for the tax debt and then have the right to collect the actual over due taxes, which are more, from the home owner. You are not buying property.