I have had many calls recently with people who were first contacted by a Third-party Surplus Recovery Company who said they had thousands of dollars sitting in the Clerk’s registry. Many of these people I speak with are just looking for clarification and guidance on what to do and whether they actually have any surplus money owed to them from a Florida Foreclosure Sale or Tax Deed Sale. So, what should you do if you are contacted by one of these third-party surplus recovery companies?
First, don’t sign anything! Many of these third-party surplus recovery companies talk a big game and try to pressure people into signing over their rights to the Florida Foreclosure Surplus Funds. And that is exactly what it is. You would be signing over your rights to them and they will tell you they will give you the money for a percentage after it has been recovered. But once they have it, what is to stop them from just disappearing?
Next, once you get them off the phone, do your own research. They get your information through public records. They will look at different foreclosure and tax deed sales all over the state and try to find people who have not yet hired an attorney to retrieve these Surplus Funds. If they can get the information from public records, you certainly can. I had a client contact me recently who said a third-party recovery company told her she had over $20,000 in surplus funds from a foreclosure sale that happened many years ago. When I looked the case up, there was really only $1,300 remaining. This company hadn’t done their research at all. If they had, they would have known exactly how much there was. I go through the entire case and look for any other potential claims from subordinate lienholders or additional requests for funds from the Clerk or the lender and I can give you a much better idea of how much (if anything) is remaining from the Florida Foreclosure or Tax Deed Sale.
Once you have done your research, the next thing you should do is contact a qualified Florida Foreclosure Sale and Tax Deed Sale Surplus Attorney. I will give you a free consultation and let you know what your rights are and how I can best help you. I am also bound by the ethical rules and regulations set by the Supreme Court of Florida and the Florida Bar. I will not ask you to sign over your rights to the surplus funds. You hire me and I only get paid if I am able to recovery any of those Florida Foreclosure Surplus Funds. I work for you. You won’t get the same guarantee from a third-party surplus recovery company.
If you have been contacted by a third-party surplus recovery company who says they can get those Florida Foreclosure Sale Surplus or Tax Deed Sale Surplus Funds, don’t sign anything and give me a call. The consultation is always free. I will give you an honest assessment of what you can recover and if you choose to hire me, I will do everything I can to make sure you get the maximum Florida Foreclosure Surplus or Tax Deed Surplus funds you have coming to you. And remember, I work for you. You don’t sign over your rights. And I only get paid if I recover funds for you.