Level Up Your Proxy Bidding Skills at Broward County, Florida Tax Auctions

If you’re interested in investing, tax liens and deeds can be a good option. You could get returns between 18% and 36%, and you might even be able to buy property for as little as $500 or 40% to 90% off its market value. This article will walk you through how to bid at Broward County tax auctions, secure valuable tax certificates, and acquire cheap properties through tax deeds.

Investing in tax liens and tax deeds is a unique opportunity that offers high potential returns compared to traditional investments. With relatively low entry costs, you can start investing with minimal capital, making it accessible to many investors.

Understanding Tax Lien Certificates and Tax Deeds Broward County

What are Tax Lien Certificates?

A tax lien certificate is a claim against a property for unpaid property taxes. When you purchase a tax lien certificate, you’re essentially paying the property owner’s tax debt. In return, the property owner must repay you the amount plus interest.

What are Tax Deeds?

A tax deed gives you ownership of a property that has been sold to satisfy unpaid property taxes. If the property owner fails to pay the taxes, the property is auctioned, and the highest bidder receives the deed.

Example of Potential Returns

• One-year investment: You buy a tax lien certificate for $1,000 with an 18% interest rate. If the property owner redeems the lien, you receive $1,180.
• Multiple years investment: If the owner doesn’t redeem within the first year, interest continues to accrue, increasing your returns.

Steps to Start Tax Lien or Tax Deed Investing

1. Research and Understand Local Laws

Knowing the legal framework in Broward County is crucial. Regulations can vary significantly, so ensure you’re familiar with local rules.

2. Visit the Local Treasurer’s Website

Check the Broward County Records, Taxes, and Treasury Division’s website for specific details on tax lien and deed sales:

• Tax Certificate Sale Site
• Tax Deed Auction Site

3. Check the Auction Site

Broward County uses LienHub for tax certificate sales and Broward Deed Auction for tax deeds.

4. Understand the Details

Review the sale schedule, parcel inquiry, and essential details before participating in the auction.

5. Contact the County Office

For additional inquiries, contact the Records, Taxes, and Treasury Division through their website.

Important Details for Broward County

• Tax Sale Type: Tax Lien Certificates
• Typical Date of Sale: June
• Redemption Period: 2 years
• Interest Rate: 18%
• Bid Procedure: Bid Down
• Deposit Requirements: Minimum $200

Pro Tips for Proxy Bidding

What is Proxy Bidding?

Proxy bidding is an automated system that bids on your behalf during an auction. It starts at your set maximum bid and increments by small amounts until it either wins the bid or reaches your limit.

Why Use Proxy Bidding?

• Efficiency: Saves time and reduces the need for constant monitoring.
• Precision: Ensures you don’t bid more than your predetermined amount.
• Fairness: Maintains a streamlined and fair auction process.

Key Notes:

• Zero percent bids are not proxy bids.
• If you’re the sole bidder with a rate above zero, the system starts at 18%.
• In the event of a tie, the winner is chosen randomly.
• Unbid certificates revert to the County at 18%.

Pro Tip:

Bid responsibly and avoid disruptive practices, such as bidding below the displayed high bid, which could lead to a ban from future auctions.

Attractions and Economic Highlights in Broward County

Popular Attractions: Broward County has many attractions, like Hugh Taylor Birch State Park and Everglades Holiday Park, for outdoor activities such as hiking and kayaking. Arts venues like the Broward Center for the Performing Arts and Bonnet House Museum offer shows, history, and art.

Transportation Infrastructure: Broward’s transportation network includes Interstate 95 and Florida’s Turnpike for easy access to Miami-Dade and Palm Beach. Fort Lauderdale-Hollywood International Airport and Port Everglades make it convenient for travel, while Broward County Transit and Tri-Rail help with local commutes.

Economic Development: Broward County has a growing real estate market and rising opportunities in technology and manufacturing. It is also known for logistics and trade, thanks to its strong location and transport facilities.

Community Appeal: From beach activities to family attractions, Broward has options for everyone. Eco-tourism spots like the Everglades offer nature experiences, and historical sites like Stranahan House add cultural interest for both residents and visitors.

Frequently Asked Questions (FAQs)

1. How do I participate in Broward County’s tax lien sale?

Visit the Broward County Records, Taxes and Treasury Division website for registration details and auction schedules.

2. What is the redemption period for tax liens in Broward County?

The redemption period is typically 2 years.

3. How can I start bidding in the tax deed auction?

Register on the Broward Deed Auction website, submit the required deposit, and review the auction schedule.

4. What happens if no one bids on a tax lien certificate?

Unbid certificates revert to the county at an 18% interest rate.

5. Can I visit properties before bidding?

It’s recommended to perform due diligence, including title and lien searches, before bidding on any property.

Useful Links

• Tax Lien & Deed Investing Resources
• Broward County Records, Taxes and Treasury Division
• Tax Certificate Auction Site
• Tax Deed Auction Site

Need a Hand?

If you need further assistance or a customized investing plan, book a call with us or sign up for our free Tax Lien & Deed Mini Course. Engage with us on social media for more tips and insights.

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