From: "dmer" 
Newsgroups: alt.invest.real-estate alt.invest.real-estate.methods
Subject: Re: Question: Please help!
Date: 17 Mar 2005 22:07:49 -0800
   posting-account=RbpOPg0AAADRFIImx3WG3s5DLw1eV-gy

How can you get the deed and still lose the property?

Bubba wrote:

>
> You are looking for trouble buying property at tax sales when you
don't
> understand the rules.  I don't know what market you are in.  In
Florida, in
> only takes a $200 deposit at the time of the sale.  However, you must
return
> by 9:00AM the following morning with cash or local cashier's check to
pay in
> full.  If you are late, your deposit is forfeited.  If you forfeit a
> deposit, you are banned from bidding under the same name in that
county for
> 1 year.  If you do it again you are banned forever.
>
> There are many pitfalls in the tax deed sale process.  If you don't
know
> what you are doing, it is possible to be successful bidder, pay in
full, get
> the deed, and still lose the property.  All I can say, is educate
yourself
> beforehand.  If not, don't pay any more for a property than you can
afford
> to walk away from.  At this stage of the game, I would also suggest
that you
> do not bid on any property that is occupied.