You can apply, you should ask from the landlord or management company what the criteria is for being able to rent. You should also gather references to be able to submit with your application. Different landlords will have different criteria.... more
The filing of a lis pendens is the first step in the foreclosure process. You probably want to speak with an attorney to discuss all of your options, but in Florida, a foreclosure can take months, even years, to complete. During that time, you still have a lease, and a legal obligation to pay rent to your landlord. There are several steps to take. The first, and most important, is to make sure that your deposit is being held by the landlord in accordance with the Florida Landlord Tenant Act. If you did your lease through a Realtor, you should have received a copy with the lease, but even if a Realtor was not involved, the law still applies.
If, for some reason, the foreclosure happens quickly, you may also be protected under the Federal Protecting Tenants in Foreclosure Act, which - in most cases - guarantees that you can either stay the term of your lease, or 90 days, after the foreclosure is complete (that is KEY - complete, meaning that the bank legally has taken title).
So, no, you do not have to move, and the bank cannot kick out out without substantial notice.
I strongly recommend that you speak with an attorney; if this is not financially possible, there are legal aid services available through many local agencies.... more
I specialize in REO and short sales and I have a lot of clients searching in the same price range for investment purposes. Considering the price range your best option is Homestead (South Miami) where with a little hunting you can purchase 2-3 BR property for 40-45k. Additional expenses you have to consider are: association fee (anywhere between $150-300/monthly), taxes (anywhere between $800-2,500 yearly), and insurance. If you are a cash buyer it's almost a hassle free transaction. Please contact me for more details and I will be happy to assist you with your property search.
Vivienda Miami Realty Group
You may not be if there was a balance, it depends what you signed for your short sale, the prom, note would be released as the asset is no longer used as security. It will depend how you negotiated what happens with teh shorted amount and if you signed anything saying you would pay it back. i would ask your lawyer or negotiator who completed teh short sale on your behalf. good luck... more
find local Realtors and talk to them first. Take a trip out there to visit the area. Ask for Property Management references if you are buying it as an investment. Be prepare to deal with lots of headache for being out of town investor.... more
Every folio that starts with 30 needs a CU if the property was obtain throught a CTI (certificated of title) if is a bank owned or purchased by an investor.
Also make sure you obtain the CU prior to negociated any offer.
The penalty is about $500 dollars a day if you don't have it.
I hope all this information help you.... more
This would really depend on your lending aspects. The mortgage will be requiring title insurance. therefore without title this will not be able to be obtained. There are a couple of good attorneys in Coral gables that I have worked with in getting a "Quiet title" but this too can become complex. I would suggest you inquire to an real estate attorney to assist you.... more
You may want to get in touch with the county code enforcement to find out exactly how the violations need to be taken care of. There may be a daily fee for every day the house is not repaired. In Tampa we have some properties that are accruing $100 per day.... it can add up to a lot of money. Not sure but there may be a way to negotiate down the violation fees.... more
It's possible, but not always going to happen. The best way to avoid that is to have an experienced Realtor, and third party negotiator working on your behalf. If you need the name of someone in your area, let me know. I'd be happy to help.
It is possible that the lender could come after you if they find out that you have other assets when doing a short sale. Lenders usually won't approve a short sale if the seller has assets. One of the requirements of a short sale is that the seller can not have any other assets or walk away from the transaction with money from the sale.... more