From: "Nancy" 
Newsgroups: misc.invest.real-estate
Subject: Florida tax certificates
Date: 27 Mar 2005 08:50:51 -0800
   posting-account=GyIzmAwAAACRj6tLTZpTkWH7f1edXNps

     I have been bitten by the bug of buying tax certificates in
Florida. I am just learning about it and figure I can try it and the
worst might be that I loose $2000 if I buy one certifcate near that
price, as long as it is not on property that is on the cleanup list for
toxic wastes. I figure to get started I would stay with inexpensive
condos. That way the title should be good since the time the condo was
started, say 20 years ago. Thus title search could be done by myself. I
would have to watch for condos that are not operating in a good fiscal
manor. I have one or two questions that I am having a hard time finding
answers for after having read the statutes and FAQS.
     1. It does not appear that a tax certificate that is purchased
records a lein on the property. I see the tax deeds recorded, but not
any leins. I guess before buying any property a potential home buyer
must check the tax status before closing, but you would think a lender
would want this information recorded.
     2. I don't quite understand the situation where a property is
delinquent for the first time. Say I buy that tax certificate. While I
am holding that certificate for a minimum of 2 years, the property now
goes delinquent on the taxes for a 2nd time. If Joe Blow buys the 2nd
tax certificate, must he pay off me and my tax certificate from the
prior years. If this is the case, it would seem worth while to study
the heary hitters in this field and maybe only buy a 2nd tax
certificate after the heary hitter bought the first. Maybe just bid a
low interest rate to get the 2nd one but it would seem that it should
be a fairly safe one.
      Would appreciate any comments anyone might have in this regard or
other tips for a newbie at tax certificate auctions. I see where some
counties in Florida will be conducting their auctions on the web, such
as at www.bidleon.com. Thanks.

Nancy Snyder