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In Florida am I responsible for old liens on a foreclosed property I bought from the bank that took title?
Wiki User
∙ 16y ago
You should make sure of the situation before signing on the dotted line--the title company should have provided a clear title (no judgments, liens and so on).
Wiki User
∙ 16y ago
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When a home is foreclosed on who is responsible for paying property taxes?
Well, if the bank has forclosed they are but can seek the monies from the new buyers. If you bought the tax certificate then you do.
Making Smart Real Estate Investments?
With over 1 million foreclosed homes available for purchase in the United States, it is no wonder investors are quickly snapping them up. To get a piece of the real estate pie, you should consider investing in a foreclosed property. Foreclosed properties are also referred to as "fixer uppers," because they can require some maintenance work before they can be sold again. Before you purchase a foreclosure to fix up and resell, consider these tips to make the smartest real estate investment choice possible.Choose a Good Location Just because a foreclosed property is dirt cheap does not mean it will yield a profit. Make sure the foreclosed property is in a good area. If it is in a poverty-stricken area of a large city, then the foreclosed property is not a good real estate investment. However, if the foreclosed property is located in a suburb with a good school district, then this may make the perfect real estate investment.Make Sure Repairs Are Affordable Some foreclosed properties are only thousands of dollars, but they require hundreds of thousands of dollars in repairs. There was a case in Florida, where a proud homeowner bought a foreclosed property for only a few thousand dollars. The property was located in a beautiful area of Florida. However, upon arriving to the property, the owner discovered the house was filled with over 300 snakes. This is just one of the example of what may be lurking behind the door of a foreclosed property. A foreclosed property is not worth the investment if it will require substantial pest control services or maintenance work.Have Cash Ready If you can pay for a foreclosed property with cash, then you may be able to beat out investors. One of the most difficult parts of buying a foreclosed property is beating out investors. If you can pay for the entire home with cash, then you will stand a chance in buying the property.Investigate the AreaBe sure to do your due diligence on the area and make sure no sex offenders are located near the home. Searching the sex offender registry in your area is one way to determine if sex offenders live in close proximity to a foreclosed property. Buyers do not want to buy a home that is unsafe for their children.To make a wise real estate investment, consider these four tips before you purchase a foreclosed property.
What can you keep from your home when its in fed fore closure?
When your home is foreclosed on you are able to keep your personal property such as furniture and clothing. Anything that was in the home at the time that you bought it, like a refrigerator or dishwasher must stay.
Do you know the best way of how to buy a foreclosed home?
The first step in buying a foreclosed property is to get a very good realtor. A good realtor knows the market and he knows houses. He will work to see if this property is worth or efforts and if it is worth the asking prices. A house should not be bought just because of the price tag being "below the market value". The realtor will walk you throught the whole process.
Can a UK citizen who has bought property in Florida open a bank account and get a US bank credit card if he has very good credit?
no
A Great Deal: Realty Foreclosures?
Perhaps you have saved up money your entire life from working. Maybe you are finally thinking about making the choice to buy some real estate. Your choice could not have come at a better time. Currently, there are deals of a lifetime that can be scooped up on the real estate market. Among these deals are foreclosed properties. Many wealthy and affluent people are foreclosing on properties that end up being anywhere from 30% to 70% discounted from the original price. It is to your benefit to consider buying a foreclosed property, especially if you have all of the means to be able to pay for such a property. Many people without real estate experience are frightened or nervous about the idea of buying foreclosed properties. They may be intimidated by this field that seems to be dominated by investors. The truth is that the market of foreclosed properties can be dominated even by people without experience in the field. There are ways you can still buy foreclosed properties without ever having bought one in your life. The key is to involve an experienced realtor in your search for a foreclosed property. An experienced realtor will understand every aspect of the legal and transactional proceedings required to seal the deal. In states like Florida, there are thousands of foreclosed properties just waiting to be bought. Some of these properties are situated in gorgeous communities and even right near the beach. Can you imagine purchasing a luxury beach home for a fraction of the price? It is just amazing what you can find in places like Florida. An experienced real estate consultant can help you sift through all of the thousands of foreclosures that exist and find the one property that meets and exceeds your dreams. Many people think they will have to pay incredible taxes or do a lot of fixing up in foreclosed homes. The truth is many of these homes are realty foreclosures that have already been inspected. They may actually be in great condition. Why not consult with a realtor to buy realty foreclosures with your savings? You may be able to make the investment of a lifetime.
Is it legal to take your central air unit from your foreclosed home?
If you bought it yourself after you moved in, and before the house was siezed and sold.
You bought property you didn't know had liens on it how do you make them pay you?
You have to track down the owners of the liens and pay them. Your local tax office or the tax office in which the property is located should be able to assist you in the location of the holders of the lien. If you bought the property with existing liens attached to it, you bought the liens too and are now responsible for them legally. Your only recourse would be to sue the previous owners for restitiuion of the cost of paying off the liens.
You live in California you bought a house in Florida then filed a short sale in California do you still owe taxes and can they come after my new property?
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What happens to the mortgage loan when bought on a tax deed sale who is responsible or will the bank put a lien on the property?
A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.
Can Americans own a house in Japan?
Anyone can buy property in Japan. You can buy from real estate agents and pay 3% commission. The vendor pays 3% as well. The trick is to buy foreclosed property in Japan because its far cheaper than buying foreclosed property in other countries, including the USA. Many foreigners buy foreclosed properties in Japan, because the locals are not very commercially astute. They have no idea on how to manage money. They mostly leave it to housewives happy to earn 1% on their postal savings. Foreclosed properties can be bought at anywhere between 5-70% discount off market price depending on if you buy in central Tokyo or in rural depopulating areas. The prices range from $10,000 up. The properties are sold through the Japanese prefectural court system. You pay 20% deposit, then you have several months to pay the balance.
What is the word for money paid monthly on a property bought?
A property that is bought by means of monthly payments is said to be paid by installments.
