I purchased a Florida tax lien certificate in 2005…The redemption period ended after 2 years & it hasn’t been redeemed.I found out I have up to 7 years to foreclose but need to go to County Clerk pay $200 & file for foreclosure…and then it goes into a Tax deed sale. Before I do that… my question is, what is the chance of getting the property? Property has 2 mortgages…Do the banks come & outbid & win property at auction? Is there a secondary market whereby I can sell this tax lien certificate wihtout going to tax deed auction.If I was to foreclose & win at Tax deed auction will I be responsible for other debts from previous owner? What is best course of action? Thx

When you foreclose on the tax lien the lender will lose their security interest if they don’t jump in and buy it from you. Unless you’re looking at a worthless toilet of a property that’s not very likely to happen. A tax foreclosure extinguishes any other liens on the property so you would not owe them if the lender(s) didn’t step in and buy the lien from you.