Hi David,
Great question that many people make mistakes. From my experience handling numerous foreclosures in South Florida, I strongly recommend not purchasing these properties in your personal name. When someone loses a home to foreclosure, they often have additional outstanding debts. Creditors and other parties may try to come after whoever owns the property, even if you’re not legally liable for those debts.
That’s why it’s best to buy through an empty LLC or corporation that has n...
Hi Farah,
Tax deed investing definitely has its own details, but it’s not as complicated as it might seem at first glance. The good news is that tax deeds in Florida usually give you an “almost” clean title, meaning mortgages, HOA, and mechanic liens are typically wiped out.
I actually wrote a book about foreclosures in Florida, and there’s a whole chapter dedicated to tax deeds explained in plain, simple language. If you’re interested, you can check it out here: https://a.co/d/4yZlV2r....
Hola Angel,
I assume you're referring to the plaintiff's maximum bid, which some counties display while others don’t. That amount represents the maximum price the plaintiff (usually the lender) is willing to pay to keep the property. It's often equal to the final judgment, but not always.
In your first example, where the plaintiff’s max bid is higher than the property’s value, it likely means the lender believes it’s still a good deal to take it back at that price, possibly expecting ...
Hi David,
Actually, a Quit Claim Deed recorded before a foreclosure auction does not change the legal status or interrupt the foreclosure process. The foreclosure remains tied to the original civil case, and all related documentation (including the parties named) comes from the Final Judgment issued by the court. That’s why you’ll often see the previous owner listed in the foreclosure documents, even if the property was transferred to someone else in the meantime.
If the new owner wants...
Hola Veronica,
Yes, you can withdraw your funds from your auction account. Palm Beach County uses the RealForeclose web platform, which actually makes the process pretty simple. You just request your funds, and after a few business days, they’ll send a check to the name and address you have registered on your account.
Just keep in mind it can take a few days or sometimes even a couple of weeks to receive the money, so double-check that your information is correct on the portal before re...
Hi Avani,
When it comes to private liens, I wouldn’t say most, I’d say all of them are extinguished by a county tax deed sale. Tax liens take priority over any lien created through private agreements, including mortgages, judgments, and mechanics' liens. This principle is rooted in the idea that public obligations, like taxes, override private contracts under common law.
That said, always run a thorough title search before bidding. Even though those private liens shouldn’t survi...
Hi Tania, (I'm happy to find another Alonso in the market!)
Let me walk you through them one by one:
-Where should I go, and who should you contact?
There are several ways to find and buy a house from a bank (But they may also be owner by an Association if the auction came from an HOA Assessment foreclosure):
Contact the bank directly: Some banks have their own REO departments or dedicated webpages listing properties they’ve repossessed.
Check REO listing platforms: Sites l...