We know of two companies out there that are slightly similar to us, yet extremely different. Please note, we also own TaxAuctionSurplus.com, FloridaTaxAuction.com and FloridaOverbids.com so Company 1 and 2 shown below are not those websites
WHY A ‘NATIONWIDE’ SURPLUS RECOVERY COURSE IS NOT ENOUGH
- Every State has their own laws concerning the Surplus from Tax Deed Auctions
- Every county within that state has their own Claim Form and Process to follow
Therefore, one tutorial that says “do this for everywhere in the U.S.” is grossly misleading. The course may give you the broad strokes, but what you need is a step-by-step course for every county!
FLORIDA COUNTY STATS
Out of 50 states, 36 of them have laws that allow for surplus from Tax Deed Auctions. In those 36 states, there are 2,136 Counties – each of them may have a surplus list, their own claim form and their own process on how to put in a claim.
HOW FLORIDA IS DIFFERENT
In Florida, once an auction is over, there is no redemption period for the property owner. Therefore, any surplus generated from the auction is good to go.
In other states, after the auction, a property owner may have 1-2 years to redeem their property. Therefore, you cannot count on that surplus until the county actually puts out their surplus list (most do 1-2 times per year)
Some Florida Counties hold their tax deed auctions online. We live watch the auctions and along with our pre-research from before the auctions, our results are ready as soon as the auction ends. We give the surplus records along with the owner name and mailing address. We also give the Property Information Reports so you can see if there are any liens on the property that may take the surplus. We also train you on HOW to research the property reports and any liens they may mention.
Someone out there is telling people to “not worry about the liens because in Florida they go away after 120 days”. There are so many misleading statements in that one sentence.
- The new statute regarding the 120 day deadline is good only for those tax deeds that were applied for after Oct 1, 2018. There are still tax deeds being auctioned today that were applied for before Oct 1 and therefore, they do NOT fall under the new statute. You need to know the ‘Tax Deed Application Date’ before assuming the liens will go away.
- It is not 120 days after the auction. It is 120 days “after the county mails the surplus notice”. The county has 90 days in which they need to handle their business. So the true deadline would be 210 days (120 + 90) to be absolutely sure.
- While you are waiting for the liens to expire, our clients already contacted the property owner and had them sign an agreement and now they are waiting out the deadline together. You lost that possible client 7 months ago.
You cannot wait for Florida Counties to put out their own surplus list or you already lost. With our Florida records, they are in your hands same day as the auction.