FLORIDA DEED FLIP RESOURCES PAGE
All information on file submission and rules can be found on the Florida Deed
Flip Referrals Page
http://surplusfundsriches.com/floridadeedflipreferrals123.htm
Click here to view links to some Florida Counties online Tax Deed sales. http://surplusfundsriches.com/fltdsw.html
ATTENTION!!! - STARTING JANUARY 1ST 2017, WE WILL NO
LONGER ACCEPT MORTGAGE AND HOA DEED FLIPS
WITH THE FL DEED FLIP PROGRAM - WE WILL ONLY ACCEPT TAX.
VIDEOS
1. Building Blocks Overview - This will load on your page.
2. Postpurchase overview – this will be a link to use, click link below.
Deed flip - the following is an example of a quit claim deed to use if you choose to do this on your own. This is the update
I spoke about.
Note that is says 'example'. you will have to fill in the strap or parcel number, names on the deed, addresses, county, etc.
It will have to be notarized. If you are paying off the taxes to stop the foreclosure, make sure that you record this first and
get certified copy back, prior to paying off the taxes. In addition, please review state statutes if you are going to attempt to
use this to purchase the property and then collect surplus because you believe that there will be an 'overbid' or surplus
funds amount. Understand the following:
1. Report the actual amount paid when figuring out tax deed stamps.
2. Don't use short legal description - use full description. Look to last deed for that and consult with title company if you
have questions.
3. Don't get cheap. Overnight the quit claim deed for recordation to the physical address. We recommend you call the county
prior to recording to doublecheck type of check they will accept for recording costs and tax stamp costs, their physical mailing
address, and how to make out the check.
4. Doublecheck statutes - there's a reason we left out statute number. There are revisions. Doublecheck that.
5. Remember, laws change. This cannot be used for a mortgage foreclosure, as Florida looks at deed holder when lis pendins
was filed, not last deed holder prior to sale.
6. We recommend you get copy of driver's license and social security card when notary gets deed signed. A photo from camera
phone will work. You want to have proof, in case asked, that you got right person.
This is our offer via email, initially:
First, it needs to be said that the best course of action
for the owner would be to pay off the past due taxes, current taxes, and any
judgment or lien that could also auction the property.
Then, the owner could fix up the property for sale or rent, and get
maximum return for the property.
Having said that, we can offer the equivalent of ((total your expenses, as listed below, here)) for the property. This would result in a check for ((amount you will pay them)) to the owner. This
((amount you will pay them)) would be sent to the owner
immediately following our recording a quit claim deed, and upon our paying off
the past due taxes in order to stop the tax deed auction.
Here is why that is so low:
1. Value - the current tax value for the property is
((insert tax value here)).
With the
tax sale itself flooding the market with property, and therefore competition, we
have to assume that we will be able to sell the property for ((use what you
think is appropriate - usually use 70-80%))% of tax value, which would be ((do
the math)).
2. Costs we will incur - we will pay all of this:
- Past due taxes and current taxes (____) - total of
_______
- Realtor to sell the property, there is usually a minimum
commission - ___________
- Additional judgments/liens that need to be satisfied -
____________
- Mobile notary to get deed signed, costs of recording deed
and paying tax stamps, and cost of attorney to transfer deed into name of buyer
who buys from us - $800
- Rehab costs to prep the property for sale, and to fix any
items that come up as a result of the buyer inspecting the property (we have to
assume at least one high ticket item, like roof or a/c, needs to be fixed)
____________
- Eviction hold back - if there is a tenant in the property
(we will check this), we will hold back $2,000 for eviction.
We would refund this when the tenant left the property, broom swept, no
debris, appliances intact.
The
tenant would have to move out within 45 days.
If there is no tenant, we would not hold this back.
- Payment to you - _____________
That gives total cost of ____________.
With a worst case sales price of _______, that leaves a tight margin.
If you decide you would like to take our offer, please
contact us by ___________ so that we have adequate time to record the deed, and
pay off the past due taxes prior to the tax sale date of __________.
Buying property at auction and, by already having deed, not having to pay more than tax amount (get refunded surplus):
advances to subcontractors on deals - no, we don't do that: