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Foreclosure in 33411 : Real Estate Advice

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  • Local Info6
  • Home Buying30
  • Home Selling6
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Activity 6
Mon Sep 2, 2013
Craig Fialkowski answered:
Your rights all depend on when you leased the property and at what stage of foreclosure the property was in if it was even in foreclosure at the time. if you leased a property from the HOA that purchased their lien at sale, you probably have about 30 days to relocate. Chances are the lender that foreclosed, does not want anyone in the property when they are trying to sell it, although you may be able to get the lender to play ball by asking the banks listing agent for some help. ... more
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Tue Jun 4, 2013
Craig Fialkowski answered:
Your closing expenses should be less than $500. If they are not, someone is gauging you.
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Tue Jun 4, 2013
Craig Fialkowski answered:
It's not rent skimming.

When an investor purchases the HOA or Condo association lien, they get a certificate of title, which means they control the property as if they owned it. It will still be subject to all other secured liens (1st mortgage etc..) that can foreclose on the Cert owner.

The new owner does not have to pay the mortgage since they are not the party that is liable on the NOTE.

They can rent for years before the bank forecloses and keep the money. It would be wise for them to pay the Association in order to keep getting the rent.

There is a law in FL where the association can demand the rent for deliquent owners.
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Wed Sep 12, 2012
Jeremy Dysch & Kristine Flynn answered:
We handle multiple bank foreclosures out in Royal Palm, Loxahatchee and Wellington. May be able to give you business.
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Tue Dec 14, 2010
Marsha Mayer answered:
All good advise here. How long have the seller and HOA been negotiating? In my experience the HOA will usually accept 1 year's overdue HOA fees.

I would suggest you find out how much the difference ind...and ask your Realtor or your Attorney to offer a portion of what is considered 'due' in your behalf...if you feel the property worth it !

Good luck and focus on your goal!

Marsha Montoya Mayer- Realtor
Paradise Properties of Florida, Inc.
Cell: 561-329-0428
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