Surplus Funds Scams in Florida: How to Avoid Them and Protect What’s Yours
Let our team verify your claim for free and guide you through every step.
If your property was sold at a foreclosure or tax deed sale in Florida, you may be entitled to surplus funds — the money left over after debts, taxes, and fees are paid. But where there’s money, there are scams. And surplus funds scams in Florida are becoming more aggressive and deceptive every year.
At Visionary Surplus Recovery, we’ve seen too many Florida homeowners lose their rightful funds to shady operators. This guide will help you understand how surplus fund scams work, how to protect yourself, and how to get help the right way.
💰 What Are Surplus Funds?
When a property in Florida is sold at auction — whether through a mortgage foreclosure or tax deed sale — and it sells for more than the debt owed, the excess proceeds are called surplus funds.
Florida law (e.g., Fla. Stat. 45.032 for mortgage foreclosure and Fla. Stat. 197.582 for tax deed sales) says those funds belong to:
The former homeowner
Their heirs (if deceased)
Lienholders (depending on priority)
Many people never claim this money because they don’t know it exists. That’s exactly why scammers target them.
🚨 Common Surplus Fund Scams in Florida
1. Fake Recovery Companies Charging Illegal Fees
Some companies offer to “help you” but demand 30%–80% of your surplus funds — far above Florida’s legal cap.
✅ Florida caps fees at 12% for most third-party recovery companies unless the court approves more.
2. Predatory Assignments of Interest
You may be offered a quick check (say $2,000) in exchange for signing over your rights to the funds. The problem?
💡 You might be owed $50,000 or more, and the company walks away with the rest.
Once that document is filed with the Clerk of Court, it can be difficult to undo — even if you were misled.
3. Forged Claims and Identity Theft
In more severe cases, scammers:
File a fraudulent claim with forged signatures
Pose as you or your legal representative
Collect the money and disappear
4. Impersonation of Officials or Law Firms
Scammers may pretend to be:
The Clerk of Court
A government office
A licensed attorney
They often use urgency and pressure tactics like:
“You must act now or you’ll lose your money forever.”
🛡️ How to Avoid Surplus Fund Scams in Florida
✅ 1. Verify Any Company or Person Contacting You
Search their business name. Check for:
Active licenses
Reviews or complaints
A real website (not just a Gmail or phone number)
✅ 2. Ask About Fees — and Know the Law
Florida Statute 45.032 (foreclosures) and 197.582 (tax deed sales) strictly limit recovery fees.
💡 If someone asks for more than 12%, or requests payment upfront — walk away.
✅ 3. Call the Clerk of Court Yourself
You can call the Clerk of Court in your Florida county (e.g., Hillsborough, Pinellas, Duval) and ask:
“Was surplus generated in my case, and has anyone filed a claim yet?”
They can tell you if:
Funds are available
A claim has already been filed
You need to act to protect your rights
✅ 4. Work With Licensed Professionals
If you work with a surplus funds recovery service, make sure:
They provide a written agreement
They disclose their fee percentage clearly
They use a Florida-licensed attorney to file the claim
🤝 How We Protect You at Visionary Surplus Recovery
Here’s how we do things differently:
No upfront fees — ever
Flat, capped 12% rate with zero surprises
Attorney-guided filings to ensure everything is compliant
Full transparency and document review before you sign
We’ll even review any contract or letter you’ve received to tell you if it’s legitimate — no strings attached.
📩 Think you may be owed surplus funds but don’t know who to trust?
Let our team verify your claim for free and guide you through every step.
👉 Schedule a Free Case Review
