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Lake Tax Lien/Deed Auction Information and Property Listings

County Location

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Due Diligence
Property Listings
Local Legal Advice
Online Auction Information
County Contact Information
Listing Newspaper Information
Local Realtor Contact Information
Tax Lien/Deed Auction Information
Local Investment Agent Contact Information

Property Listings

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Current Property Auction List	lake-FL-taxdeedsale-09-14-2010

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County Contact Information

County Information
State	Florida
County Name	Lake
Responsible Entity	Clerk of Court
Address	Lake County Clerk of Circuit C :: 550 West Main Street :: Tavares, Florida 32778
Entity Contact	Neil Kelly
Phone #	(352) 253-2621
Fax #	(352) 253-2626
Email	webmaster@lakecountyclerk.org
Website	http://www.lakecountyclerk.org/faq.asp?subject=faqtaxdeeds

Completing Due Diligence

Links are provided to aid in your due diligence activities. www.Tax-Lien-Database.com does not guarantee the accuracy of the various sources and is not responsible for inaccurate information.

Due Diligence Resources
Lien/Deed Type	Tax Lien & Tax Deed
Bidding Procedures	Bid Up or Premium
Liens/Deeds OTC*	No
Return (State Maximum)	N/A
Penalty	None
Redemption Period	2 Years
After Redemption Period	The tax lien holder must apply for a tax deed. The tax deed is then sold at public auction (tax lien holder may bid) to cover the costs of the tax lien plus interest and fees. Once a tax deed is issued, the deed holder has full right of possession.
County Website	http://www.lakecountyfl.gov/
Auction Information	http://www.lakecountyclerk.org/services.asp?subject=Online_Tax_Deeds
Property Assessor	http://www.lakecopropappr.com/property-disclaimer.aspx?to=%2fproperty-search.aspx?
Property Title Search	http://www.lakecountyclerk.org/services.asp?subject=Online_Official_Records
Property Mapping/GIS Information	http://www.lakecountyfl.gov/departments/information_technology/geographic_information_services/
Property Area Information	http://www.zillow.com/
Due Diligence Example Video**	Subscribe Now
State Resource
State Resource	http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=Ch0197/titl0197.htm&StatuteYear=2000&Title=-%3E2000-%3EChapter%20197

*Excess liens/deeds offered Over The Counter (OTC)
**Subscribers have access to training videos

County Process / Terms & Conditions

TAX DEED SALE GUIDELINES
• Registering to Bid
o All prospective bidders must register in order to bid at a tax deed sale. Photo Identification is required to register.
o A numbered bid paddle must be obtained. Please return bid paddles to the marked bin after the sale.
o The initial bid for each property must be a minimum of $1.00 over the opening bid. Thereafter, all bids must be in increments of $100 or more. Increases of less than $100 will not be considered.
• Deposit Required
o A $200 nonrefundable deposit is due immediately after the sale of each property from the highest bidder.
o The deposit must be paid in cash.
o The $200 deposit will be applied to the final sale price of the property and the remaining balance will be due within 24 hours of the sale. Exact balance due will be provided to all high bidders after the close of the sale.
o Accepted forms of payment for the remaining balance are cash, Cashier’s Check or U.S. Postal Money Order.
• Barred from Bidding
o The Clerk may refuse to honor the bid of any person who has previously bid and refused, for any reason, to honor such bid.
o Individuals may be prohibited from bidding at future tax deed sales in Lake County for failure to present a $200 cash deposit as the highest bidder or failure to pay the final amount due within 24 hours of the tax deed sale.
• Cancellation of Bids
o In the event the highest bidder does not have his/her $200 cash deposit, all bids will be canceled. Bidding will restart immediately at the opening bid amount with the previous high bidder prohibited from bidding for at least the remainder of the day’s sale.
• Legal Questions
o The Clerk’s responsibility at a public tax deed sale is only to conduct the sale. All legal questions should be directed to an attorney or legal advisor.

State Laws and Procedures

Florida Statutes, Title XIV, Chapter 197, &quot;Tax Collections, Sales, and Liens.&quot;  Tax Lien Certificate (Sec. 197.432) and Tax Deed (Sec. 197.502).

State Summary

Florida is both a tax lien and a tax deed state. Delinquent properties are sold at the tax lien sale and, if they do not redeem within the redemption period, they are sold at auction in a deed sale to satisfy the lien holder. Tax lien sales are referred to as tax certificate sales and are the responsibility of the county tax collector. 

Florida is the most popular state for tax sales. The maximum interest rate is 18% and the redemption period is 2 years. The interest is bid down in &#188;% intervals. Bidding has become so competitive in Florida that frequently liens are sold at an interest rate of &#188;%. However, there is a minimum penalty of 5%. If you bid less than 5% and the lien redeems, then the 5% penalty is paid instead of the amount you bid, so you are guaranteed a minimum return of 5%.

There is another thing that you should know about Florida; in order to bid at the tax lien sale, most counties require you to register before hand with a large refundable deposit. Many Florida counties are now conducting their tax sales online. The first year that Dade County had an online tax sale, according to the tax collector’s website, the sale was a big success for the county. They had more bidders than ever before and sold all of their tax certificates – all 32,000 of them. Most of them were bid down to an interest rate of only .25%. This was great for the county, but not so good for investors. It’s a good bet that some of the liens sold were for worthless properties.

Most Florida tax lien sales are held in May. Many are held on the same day. The larger Florida counties do have their tax sales as well as tax assessment information online. Most of the Florida counties have their tax sales on www.RealAuction.com, but a few use Grant Street Group for their online auction platform. You can find these county auction by going to http://www.grantstreet.com/clients and looking under tax collectors.

Summary courtesy of Joanne Musa's State Guide

Listing Newspaper Information

Newspaper Information
Local Newspaper	Leesburg Daily Commercial
Address	212 E. Main St. :: P.O. Box 490007 :: Leesburg, Florida 34748
Phone #	352-365-8200
Fax #	352.365.1951
Email	billkoch@dailycommercial.com
Website	http://www.dailycommercial.com/