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Updated almost 7 years ago on . Most recent reply

Account Closed
  • Lender
  • Tampa, FL
168
Votes |
543
Posts

FL MORTGAGE BROKER: before you make an offer on property

Account Closed
  • Lender
  • Tampa, FL
Posted

Before you make an offer, contact your title agent partner to run a search in advance to find out what all my be going on internally with the seller and the property.   If there are a bunch of liens or Lis Pendens , then you may or may not want to proceed

Also, find out how much they owe and to see if their are 1 or 2 mortgages on the property.

You can usually determine how much the seller owe by simply looking at the amount of the mortgage, the date of the purchase, then use a rate of around 4% to 5% and do an Amortization Schedule of the months since the mortgage was recorded.

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