If a homeowner fails to pay the required taxes on his or her property, the county will offer the property up for sale at an auction to help generate the lost tax income.

During a tax deed sale, the property is usually sold for the back tax amount plus any fees, interest charges, and court costs. Because property taxes are a small percentage of market value, investors purchasing a tax deed can acquire full property rights at a fraction of the market price.

By law, tax deed sales must be announced to the public, and are usually sold to the highest bidder. The winning bidder purchases the deed to a piece of property, becoming the new owner and obtaining all rights to the property – clear of any mortgages, private liens, deeds of trust, etc. (only liens from The City, County, State or Federal Government survive).

Florida Capital Assets, LLC, offers services to purchase Tax Deed Properties at the Online Auction at the Lee /Charlotte Counties, (other Counties are available upon request) which includes all related legal support services, due diligence, research and analysis of all properties to be sold in the tax deed auction, clearance of property title, tenant relations, residential eviction, county liens, open permits and violations' negotiation and settlement. 

We prepare and provide, monthly preliminary lists per each city in both Counties (Lee and Charlotte), also we prepare a complete list of properties to be sold in auction per area in a specific day, for instance, Lee County holds auctions between 2 or 4 times a month, Charlotte County holds tax deed auctions less frequently, we also prepare an individual analysis per purchased property including all cost and rent ability based on ours client's preferences, as we do in all our services, we enter into an agreement with a contract for services, the client deposits the 5% into the escrow court account set by each county for that purpose, (they can choose to buy with a generic account and the title is issued under their name or we open an account for them only) then, we proceed to the purchase. For further details, we will schedule a meeting or conference call with the client to make sure everything is crystal clear, in the meantime, I will keep on sending our list.  If it is necessary or required by the client, Florida Capital Assets, LLC, will provide an associated attorney at a reduced or preferred rate at client’s expenses.

As with any real estate investment, we thoroughly research the property involved in the tax deed sale beforehand to minimize the risks. It's important to you view the property and research its value before purchasing a tax deed. 

The clients may bid on the properties; first, we must register with each County separately in order to get a Username and Password. We always provide complete review lists of properties to be auctioned with analysis included.   

Prior to the time of the sale, a refundable deposit of 5% of the investment amount is required. The winning bidder must pay the balance of the final bid plus the recording fee and state documentary stamps, within 24 hours following the sale.

According with the County, deposits are made via Wire Transfer, Cashier Check, or Cash at least 24 hours before the auction which requires 1 full business day to be processed and will not be available for bidding until such funds have cleared. 

Final payment is made by Wire Transfer within 24 hours of the sale. Upon payment of the remainder of the bid, the Clerk will issue a tax deed to the property.

Bids may be cancelled or modified (raised or lowered) at any time before the auction officially begins for that property. Once an auction begins, bids may only be increased. Canceling or lowering a bid during a live auction is NOT permitted.

Failure to pay the balance of the final bid plus all fees due by the next business day following the sale will result in forfeiture of the deposit and nullification of the sale. The forfeited deposit will be used to re-advertise the sale.     

Unused deposit money can be used to pay for the advance deposit on future bids, or you can request a refund.

If you would like more information about our consulting services on Tax deed auction sales, please visit our Contact us page.

(Legal Disclaimer)