Which REO & Short Sale Lenders do NOT have deed restrictions?

Asked by archinvest11, Fort Lauderdale, FL Tue Oct 30, 2012

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Annette Lawrence’s answer
Annette Law…, Agent, Palm Harbor, FL
Wed Oct 31, 2012
From the context of your message it appears you are seeking to purchase distressed real estate which has no deed restrictions. As other noted, deed restrictions is related to the property, not the lender.

Your real estate professional can identify those areas which have NO deed restrictions, often parcels outside of city boundaries. Then there are those communities inside city boundaries that do have deed restrictions. Then there are communities that have VOLUNTARY deed restrictions. And still others with unenforceable deed restrictions.

If you are a serious buyer, a real estate professional can help sort the good deed from the bad deeds to identify the real estate most suitable for you.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes
Nadine Mauro, Agent, Lake Worth, FL
Tue Oct 30, 2012

Yes, its the developer who creates the initial deed restrictions. The properties are sold to individuals who are given a chance to review the restrictions before they purchase the property. Going forward when a Homeowners Board is put in place, there can be a vote to change some of the restrictions.

I hope this helps.
0 votes
John Bennett, Agent, Orlando, FL
Tue Oct 30, 2012
Lenders don't have Deed restriction, the land does. When land is formed into a development , the developer puts deed restrictions on each lot sold. EVERY lender then lends money on the lot, that has the same deed restrictions.

Hope this helps.

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