Home Buying in 34601>Question Details

Juanita, Home Buyer in Florida

i am looking at tax deed auctions. If there is money still owed on the property, is the new owner responsible for the debt?

Asked by Juanita, Florida Sun Dec 4, 2011

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3
Hi Juanita,

Technically the past due HOA and Condo fees may be limited to 1 year past due on a foreclosure or 1% of the first mortgage, but I"m not an attorney so there may be more legalities.

Here's an interesting site about buying in an HOA or Condo association and some of the pitfalls. It also has helpful legal info and recent ruilngs:

http://www.CCFJ.net

All the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Mon Dec 5, 2011
In Florida, condo and HOA fees must always be paid. Other liens are discharged in a foreclosure.
0 votes Thank Flag Link Mon Dec 5, 2011
Hi Juanita,

It depends.... I've heard nightmares about buying condos and the associations attorneys will come after you for amounts owed prior to the foreclosure...

There are certain liens that will survive the Tax Deed Sale so you'll need to do a lot of homework on any property--especially if it is within a Condo or Homeowners Association.

All the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Sun Dec 4, 2011
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