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My cousin was sick for a few years and out of work and Florida is auctioning his house. Will he get any money from it after the taxes are paid?

My cousin was sick for a few years and out of work and Florida is auctioning his house. Will he get any money from it after the taxes are paid?

(post is archived)

[–] • 7 pts

Yes, but expect exaggerated and unreasonable fees from the lender and county. They will be Jews with a capital J if you let them handle the sale.

If you can't pay what's owed, my advice would be to hire an attorney to help you deal with the foreclosure and sell the place yourself. You'll get to keep the proceeds minus any liens (like the delinquent property taxes), judgments, and loans owed.

[–] • 0 pt

The lien amount, tax owed plus interest and penalty if applicable, and net of unreasonable fees noted above, is satisfied from the proceeds of the sale. Remaining proceeds should be distributed to the owner of the home and failure to do so would be a crime of theft.

[–] • 1 pt

Correct, but I can see how I worded my original comment that it could imply that the proceeds wouldnt be theirs if they allowed the foreclosure to happen. They would still get their proceeds, just likely less since they wouldn't be able to shop anything including the buyer and purchase price.

[–] • 2 pts

FAR better to sell it and get out vs. letting the gov't take it at auction. You will get extra screwed there.

[–] [deleted] • 1 pt

Property taxes aren't usually a massive amount. If it's not possible to borrow money from a friend or family member then better to sell the place to someone you know than to let them auction it off.

[–] • 2 pts

Anybody who buys a decent house in Los Angeles or San Francisco has a property tax bill over $2,000 per month.

[–] [deleted] • 2 pts

Holy shit! That is fucking insane. You could rent a 5 bedroom house for less than that in the suburb I live in, and I live in a good upper middle class area.

[–] • 1 pt

For example:

https://www.redfin.com/CA/Los-Angeles/2054-Kelton-Ave-90025/home/6800962

Scroll down to the property taxes.

[–] • 0 pt

They let you go for like 3 or 4 years iirc. It's not a crazy amount but 4 years of taxes can easily be A lot more than many people can afford. Uhg this reminds me I have to pay my property taxes. God I hate doing that.

[–] • 0 pt

Why do people insist on paying taxes to a government that clearly doesn’t represent them or their interests?

[–] [deleted] • 0 pt

Just looked you the statutes in Florida. Here's a couple links. Short answer is yes, he will get what's left if he files for it after the sale. He will have a year once sale is final.

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0100-0199/0197/Sections/0197.582.html

https://www.sarasotaclerk.com/e-services/online-property-auctions/tax-deed-services/surplus-tax-deed-funds

[–] • 0 pt

I read it. It says noticed will be mailed to the address. Does that mean it will be mailed to the address of the house he just left? Should he just contact them? Also how does he find out how much it sold for

[–] [deleted] • 0 pt

Says notice mailed to last know address. Just call the county courthouse. You should be able to get answers from the assessor's office.

[–] • 0 pt

Does that mean it will be mailed to the address of the house he just left?

Shouldn't be a problem if you set up mail forwarding. Go to the post office website and set it up, costs $1 I think. ($0 if you do it in person).

[–] • 0 pt

Depends on how much was paid off, minus what he owed on mortgage, back taxes, auction fees, and what it's actually sold for.

[–] • 0 pt

If the property increased in value significantly, no worries. I've literally seen people underwater on a loan walk away with money post foreclosure because the sale value exceeded the loan.