How To Stop A Property Tax Sale In Orange County Florida
Do you owe back property taxes in Orange County Florida? If so, you might be facing a property tax sale, which is also called a tax deed auction. Today, we’re going to explain how the property tax sale process works in Florida and go over some options to stop a property tax sale in Orange County Florida.
How The Property Tax Sale Process Works In Orange County Florida
The property tax sale process for properties with unpaid taxes is handled according to Florida law, so it works the same way in every Florida county. It all starts when you don’t pay your property tax bill on time. Property taxes in Florida are due on March 31st of the following year. For example, your 2019 property taxes are due by March 31, 2020.
Tax Certificate Sale
If you don’t pay your property taxes by March 31st, the county tax collector will hold a tax certificate sale on June 1st. At the tax certificate sale, tax certificates are auctioned off for properties with delinquent taxes. A tax certificate entitles the holder of the certificate to the unpaid tax amount plus interest.
The tax certificates are auctioned off according to interest rate. The auction starts with a high interest rate, and the interest rates get lower with competitive bidding. The bidder who is willing to receive the lowest interest rate on the unpaid tax amount wins the auction.
Once a tax certificate has been sold for the property, the tax certificate holder must wait at least 2 years before they can apply to force a public auction of the property. During this 2 year period, the owner of the property can come forward and redeem the property by paying off the unpaid taxes plus interest to the certificate holder. This means that you still have time to stop a property tax sale in Orange County Florida.
Property Tax Sale (Tax Deed Auction)
If the property is not redeemed by the owner within the 2 year period, the tax certificate holder can apply for a forced public auction of the property. This auction is called a tax deed auction or property tax sale. It is at this auction that the actual title of the property gets auctioned off to the highest bidder. Once the title of the property is auctioned off at the tax deed auction, you will not be able to stop a property tax sale in Orange County Florida.
The proceeds of the tax deed auction will go to the tax certificate holder to pay off the unpaid taxes plus interest and fees. Any excess funds or overage will go to lien holders, if any. Any proceeds left over after the property taxes, interest, and lien holders have been paid is held by the county and can be claimed by the previous owner of the property.
Options To Stop A Property Tax Sale In Orange County Florida
There are not many options to stop a property tax sale in Orange County Florida. The most straightforward thing to do is to pay the delinquent property taxes, however, that is not something that is easy to do for some people.
Another option to stop a property tax sale in Orange County Florida is to apply for a payment plan with the county. Of course, you’ll still need to be able to make the quarterly payments, but this can be a good option for people who cannot afford to pay the entire tax amount at one time.
If you cannot afford to pay the property taxes in full or make the quarterly payments on a payment plan, it may be time to consider selling the property. Depending on how far along in the property tax sale process you are, you may need to act quickly to avoid having the property auctioned off and sold on someone else’s terms.
If you do need to sell your property quickly in order to stop a property tax auction in Orange County Florida, we can help! We can pay cash for the property and close very quickly, in as little as 7 days! You won’t have to make any repairs and we’ll pay all of your closing costs. There are also no fees or commissions to pay. Contact us using the form below to get the process started.
Why You Should Sell Your Property Before A Property Tax Sale In Orange County Florida
You may be wondering why you should sell your property to a cash home buyer like My Florida Home Buyers in order to stop a property tax sale in Orange County Florida when the excess proceeds of the property tax sale will be made available to you anyways. Great question!
The reason you should sell your property before it goes to a property tax sale in Orange County Florida is because you’ll almost always get more money in your pocket by selling the property yourself. Not only will you be able to sell the property on your terms, but the sale price will usually be higher. That’s because we’ll actually be able to come inspect your property before making you an offer, so our offer will be more accurate and will reflect the actual value of the property. The bidders at the property tax auction will always assume the worst since they cannot inspect the property before the auction, which means you won’t get as much money from the sale.
Need To Sell Your Property In Order To Stop A Property Tax Sale In Orange County Florida?
We can help stop a property tax sale in Orange County Florida! Contact us today for a fast, no-obligation cash offer on your property. We can buy the property in its current, as-is condition. You won’t have to make any repairs or updates or even clean out the property. We can close in as little as 7 days to help you stop a property tax sale in Orange County Florida. We’ll also pay all of your closing costs and there are no fees or Realtor commissions. Get started by using the form below!
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About Orange County, FL
Orange County is a county in the state of Florida, in the United States. As of the 2010 census, the population was 1,145,956, making it Florida’s fifth-most populous county. The county seat is Orlando.
Things To Do In Orange County, FL
Orange County is a large and populous county in Central Florida and is home to Orlando, one of the largest cities in Florida. Because of this, there is no shortage of things to do in Orange County. You could spend days in the City of Orlando alone, exploring its many historic sites, restaurants, and parks. You cannot mention Orange County with out mentioning the many theme parks that call Orange County and Orlando their home. This is the most popular reason visitors come to Orange County and Central Florida.
Weather In Orange County, FL
Anyone who has visited Orange County During the summer months knows how hot and humid it can be. Temperatures in the upper 90s are not uncommon. The humidity levels can also reach nearly 100%, making outdoor activities miserable for most people. The winter months are the best time to visit Orange County when the temperatures are in the low 70s and the humidity is much lower. This is a great time to visit the theme parks as you will be outside most of the time.