Foreclosure Surplus, Tax Deed Excess Funds and FS 55
At every foreclosure and tax deed auction a “minimum bid amount” is established for the sale of the subject property. This number is the least that the complaining party (in foreclosures this party is known as the plaintiff and for tax deed files the county establishes the minimum bid) Any amount bid over the minimum is for the purposes of this training is considered “surplus (or excess)” funds.
These funds are available for claiming by the parties in the action generally based on their priority.
In this course, you will learn;
- Where to locate surplus funds information
- How to market your services to the potential claimants
- How to make easy money from information provided in FS 55.
- How priority is established and how to potentially re-establish priority
- Learn about Florida’s Surplus Trustee laws
- Learn how to earn the most from each client by using this easy to remember retainer “pitch”
- How to select an attorney for your business
- How each the tax deed and foreclosure process works
- Learn the best time and the best way to contact potential clients
Surplus funds recovery has always been one of my favorite money making ventures. What could be wrong? You know exactly how much money is in play making negotiations a less risky venture. The parties and their priority is established making it easier to identify the party with the highest claim.
This is a great course for anyone with half-decent computer skills and just a bit of an extrovert. This potential income stream also welcomes partnerships.