Investor Buys Tax Delinquent Villa That’s Actually a 1-Foot-Wide Strip of Land

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A Florida investor thought he got a great deal when he was buying a $177k-valued villa for $9,100 at a county property tax auction, but it soon turned into sour grapes.  According to the South Florida Sun Sentinel, what he actually purchased was not a villa but a 1-foot by 100-foot strip of land worth about $50 (see arrow in photo below).  Now the buyer wants Broward County to void the deal and claims that the photos were misleading and deceptive.  The land actually contains two mailboxes starting at the curb and then runs under a wall separating the garages of the two adjoining villas and then extends out to the back.  Caveat emptor….

“It’s deception,” said Holness, a first-time auction bidder from Tamarac. “There was no demarcation to show you it’s just a line going through [the villa duplex], even though they have the tools to show that.”

FoxNews: Kerville Holness bid at a Broward County auction of tax-defaulted properties $9,100 for what he thought was a $177,000 villa. What he got was a 1-foot-by-100 foot strip of land. (Google Earth)

Click here to read the story at the South Florida Sun Sentinel.

 

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Director of Education & Outreach, National Real Estate Investors Association