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Foreclosure in Sarasota County : Real Estate Advice

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  • Local Info4
  • Home Buying72
  • Home Selling3
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Activity 71
Fri Feb 22, 2013
Tammy Hayes answered:
This condo is not listed for sale. It is a pre-foreclosure. The owners have received a notice of Lis Pendens which is public record. This is posted by RealtyTrac. When searching on Trulia for homes you want to look up in the right corner above the price. If the home is for sale it will say the words For Sale. They have several listing types on Trulia such as Pre-Foreclosure/Lis Pendens, For Sale, For Rent, Public Record, etc. When an owner has received a notice of Lis Pendens they could catch up on payments or they could let it to go foreclosure. It could take years for it to actually be listed for sale.

I would be happy to send you listings of interest if you could send me your search criteria. Or you can search the MLS on my web site at If I can answer any questions or help in any way, let me know.

Tammy Hayes, Realtor
RE/MAX Palm Realty
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Thu Nov 1, 2012
Tammy Hayes answered:
Hi Judi,

I would be happy to help you find a home in North Port of Warm Mineral Springs. Our agency is located near Toledo Blade Blvd. If you could provide me with your search criteria, I can set you up in the MLS to receive listings automatically. You can also search my web page for homes and you can search by short sale or REO/Bank Foreclosure at I will send you an email to follow up.

Tammy Hayes, Realtor
Green Lion Realty
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Wed Oct 31, 2012
Raffie Hamilton answered:
There is currently a few on the market. I would be happy to give you info. Call or email me
Raffie Hamilton, Broker
0 votes 4 answers Share Flag
Tue Oct 2, 2012
Hjrosenbergsara asked:
Is this house for sale? Is it now owned by the bank?
0 votes 1 answer Share Flag
Wed Sep 19, 2012
Tammy Hayes answered:
Go to the Sarasota County Clerk of the Circuit Court -

Tammy Hayes, Realtor
Green Lion Realty
0 votes 2 answers Share Flag
Mon Aug 27, 2012
Brian McGreevy answered:

Have no idea how it works in Arizona because real estate laws are different from state to state. However, in Florida you must have a real estate license or be an attorney to receive money from the sale of real estate for someone other than yourself.

2007, 2008, 2009, 2010 & 2011 Five Star Award Winner- Best in Client Satisfaction
Sarasota Home Realty
2100 Constitution Boulevard
Sarasota, FL 34231

Phone: (941) 544-6763 FAX: (941) 866-7588
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Wed Aug 8, 2012
John Woodward answered:
I have never seen a foreclosure that was a rent-to-own. When a bank lists a foreclosure, they generally just want to be rid of it. Some sellers offer lease-purchase or seller financing but that limits what you can look at. There is a specific way to search to these and your buyer agent should be able to get you a list of these homes. We are always happy to help.

John Woodward
Sarasota Real Estate Group
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Wed Aug 8, 2012
Daniel Barto answered:
That is a good example of a time when a realtor with experience in the market over the past 5 years pays off. Knowing the market is very important. My suggestion get yourself a good broker or agent that typically works with investors/buyers and closes bank owned deals often, just
Besides the shameless plug- when it comes to REOs your first offer is your only offer. Highest and best on the first offer. Your agent should provide you with comps quickly so you know exactly how much fair value is, then you go for it. You need to work fast, very fast. My rule is trying to get bids/offers in within the first 3 days. The offer should be submitted in the format that the listing agent and seller prefer with all paperwork lined up and ready to go, so that when your offer is accepted, you can sign the bank addendums quickly, get escrow in and on towards closing. It's tough, you may not get the first one, but with the help of a professional, you will get a good deal and yes cash matters. So does closing date, inspection waivers, size of escrow, etc... Place yourself as the seller. They want it gone but would rather see a solid cash deal through to close than risk not closing a high offer mortgaged deal.
Hope that helps! Take a look at my website on the investor page- that may help answer some questions too.
Best of luck and if you would like some additional info send me a direct email by clicking on my profile or through my site. Danny Barto
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Tue May 22, 2012
Tammy Hayes answered:
Here is the Sarasota County Web Site where you go for county foreclosure sales. There could be other public auctions that are advertised by agencies as well.

Tammy Hayes, Realtor
Green Lion Realty,
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Fri Jul 13, 2012
Helena Nordstrom answered:

yes there are 7 bankowned properties in the Gulf gate area. 1 Conod, 1 townhouse and 5 single family homes.
I can email you a list if you would send me your email. Please contact me on

Per Nordstrom
Premier Sothyby's Intl Realty
cell 941 228 1080
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Tue Feb 28, 2012
. answered:

I strongly suggest you seek the advice of an attorney -- if you need a name call me 941-228-1315.

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Sat Feb 18, 2012
Ann Ryan answered:
Al, the bank and the HOA will need to negotiate this issue, and the home buyer definitely should not be liable.

Do you have an agent?

If not, would you like me to check the current tax and other public records for the property? I just need the address. ... more
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Mon Jan 30, 2012
Teresa M. Fellows answered:
Hi Magdalenagra,

You may ask any realtor here about any specific property. Find one you feel comfortable with and contact them. I would urge you to contact an agent who is very near to the location of the property in question as they would be more knowledgeable about the area.

My best,

Teresa M. Fellows
ERA Waterside Realty
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Tue Dec 20, 2011
Ron Thomas answered:
Deed in Lieu is an exchange of the Deed for the Debt: The Bank is agreeing to disolve and forgive the Debt in exchange for a quick resolution: Be sure to get a letter from them saying that the Debt is paid in full, and that they will not come after you for the Deficiency!
If you do it right, they will not sue for the Deficiency.
It hurts your credit a little but not nearly as bad as a Foreclosure.
No, according to the Debt Forgiveness Act of 2009, the IRS will not seek taxes on the paper gain.
You probably should involve a professional in this process, either a Realtor or an Attorney; it is too important.

Good luck and may God bless
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Tue Dec 13, 2011
Ray And Karen Levy answered:
Hi Joannes!

Be sure to have your proof of funds or pre-qual letter ready to go.

Have Fun!
0 votes 12 answers Share Flag
Mon Nov 28, 2011
Alma Kee answered:
No, not unless you're a wholesale investor with millions of dollars to invest in a large portfolio of homes.

Otherwise you have to pay "retail" or show up at the courthouse with ALL CASH and take the risks of condition problems, title issues and liens that survive the foreclosure when the lender auctions it at the foreclosure sale. Some lenders will allow a sale below their final judgement amount. Again you must pay ALL CASH within 24 hours or less so if you're not an ALL CASH buyer this is not an option for you.

Bank Asset Managers will eventually list a property for sale and the more prudent ones will require a minimum 7 day exposure on the market to ensure they sell for the maximum price.

If NCUA is a credit union, you may be able to contact them directly but they would be foolish not to list a property on the open market for all buyers to bid...

All the best,
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Mon Oct 10, 2011
Pamela LeVine asked:
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Thu Sep 22, 2011
Scott Godzyk answered:
If the house was foreclosed, they do not own the house any longer to be able to quit claim the deed to anyone, the bank would now own the house.

If you have mor einfo just come back on leave it under the answer button ... more
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Mon Aug 29, 2011
Jim Soda answered:
Ususally the HOA will file before the Bank does. I suggest you engage a Foreclosure defense atty. Some HOAs are negotialbe, some have no sense of humor at all. You may want to discuss a Short Sale with an experienced Realtor and real estate atty. Doesn't sound like your bank has filed against you yet?
Jim Soda -
Keller Williams Realty International
Sarasota - Lakewood Ranch
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Sun Jul 31, 2011
Danielle Sharp answered:
We are not attorneys and cannot give legal advice. With that said, here is an idea....

It's common practice for lenders to force place escrow for taxes or insurance if neither have been paid. The municipality or insurance company will send the mortgage company a notice that a policy hasn't been renewed or taxes have gone unpaid. Without knowing exact details of your situation or status of the property in FL no one aside from your attorney can really answer the question. Typically in FL if you have filed BK, the foreclosure is on hold until discharge is recorded and then starts up again. You may still be receiving notices from BoA because technically you still own the home and it has not reverted to BoA's possession yet. ... more
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