Are there any differences between buying at a public auction versus buying from an “Transfer Of Ownership”?
Though the actual certificate is the same, buying at auctions and getting a good deal can be difficult. Listed below are the reasons why: 1. You might get outbid after spending so much time on research. 2. Many parcels listed in the tax sale list never get auctioned off. 3. Because all of Florida’s county’s have their auction in the beginning of June many auctions are held simultaneously. 4. You will also have to wait a full two years before you can begin the foreclosure process. 5. If the tax lien certificate was bid down to ΒΌ % and the certificate gets redeemed in the first year, you make a small profit. When you buy through an assignment: 1. Certificates may already be earning 18%. 2. You are able to calmly buy in an unhurried and pressure-free atmosphere versus that of an auction. 3. In almost all cases comprehensive research yield results, because nearly all certificates listed are sold. 4. If your certificate is two years old, the foreclosure process can begin immediately.
