In Florida, if ad valorem payment is not received by May 1st, a tax certificate is issued to fund local government – which can lead to confiscation for a delinquent taxpayer.
However, those certificates also create potential. For tax certificates are liens and are sold annually in Florida by Tax Collectors. Tax certificatespay interest at varying rates, with certain foreclosure possibilities, and with considerable risk – becausetax certificates expire.
And beware! From our observations, typically the amount to acquire a tax certificate is minor compared to what it may cost to acquire a tax deed, then end up with marketable title. Lots of cash may be required and substantial amounts of time may be involved.
We strongly advise before making any decisions seek advice from an attorney who is experienced in this field. For herein is one the ways you can profit OR lose your shirt in the real estate world.