Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Bryce Davis

Bryce Davis has started 25 posts and replied 110 times.

Post: Tax Auction in Trust Estate Name

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17
Originally posted by @Tom Gimer:

Trust docs are not public record. Anonymity is one of the goals. Gov't has no obligation to do the research you are referring to.

 So what happens if you buy a property that is not redeemed in a trust or estate.  Can the quit claim deed and quiet title by the lawyer during foreclosure squash any claims.  

Post: Tax Auction in Trust Estate Name

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17
Originally posted by @Wayne Brooks:

It changes nothing......the property is the property.

 Thank you i noticed most do not bid because they are worried about the entire estate or trust being contacted.  Was told that if Suzy or Tommy didn't get notified then it nullified the sale. 

Post: Tax Auction in Trust Estate Name

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17

Quick question.  If the property is in an estate or trust name at a tax deed sale what are the implications.  Are there any methods to buy these properties since others may be leary? 

Thank you in advance 

Post: Foreclosures and Tax Sales in Central America

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17

I have been reading up on foreclosures in central america. My understanding is they also have court house foreclosures auctions. Does anyone else have any information on foreclosure sales or tax sales in central america. I am looking to buy properties cash in several countries in central america. 

Willing to pay for mentoring if you have a lot of experience.

Post: Foreclosures and Tax Sales in Central America

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17

Does anyone happen to know how to bid on foreclosure sales or tax sales in countries in central america. Do they auction off houses on the court house steps like they do in the United States? 

Post: Florida tax sale questions

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17
Originally posted by @Josh Carr:

@Bryce Davis You will get a QCD to the property you have won at the tax sale or tax deed auction.  Once you have the quit claim deed you may want to do a quiet title suit against it so that your property has a clean title.  You can also get title insurance if you get a quiet title which will help you to market the property at full value.  It cost about 1K to 1500 for the quiet title from most lawyers but it is worth it in the long run.  Always check for other encumbrances outside of mortgages such as special assessment liens and IRS liens.  They do not go away although you can work something out to resolve them.   Examples of special assessment would be water and sewer bills, infrastructure bills, weed abatement, demolition liens, anything that the City, County or State have accrued on a property which goes along with the property.  It is always good to check into these things first so you don't get taken by surprise.  These go along with the property and do not get wiped out with the tax deed auction.  They will not be payable until the taxes have been paid or a new owner takes on the property through a tax deed auction.

 I was informed you could perform a quiet title by getting the immediate past owners to sign the quiet title.  The past owners are more receptive to this if you pay them some cash for moving expenses.  What has been your experience? 

Post: Florida tax sale questions

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17
Originally posted by @Wayne Brooks:

@Bryce Davis Buying it from the owners is like any other sale.....any mtg.s or liens remain attached to the property.  The only way to eliminate them, other than just paying them off, is waiting for it to go to a Tax Deed auction, if it ever does.

I meant after the tax sale. Can you perform a quit claim deed on a property won at a tax deed or tax lien auction if there are mortgages owed. Of course this would occur after the redemption period. 

Post: Florida tax sale questions

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17
Originally posted by @John Underwood:

Sounds like an easier route would be to track down previous owner or rightful heir/s and pay them for their time to sign property over to you. A simple Quit Claim Deed will work. This is if their are no other lions or mortgages on the property that you aren't comfortable assuming. Then pay off all the back taxes. That will also give you a clean deed instead of a Tax deed. I would track down the owner then if they are agreeable to signing the property over or selling it cheap, then have an attorney do a title search to make sure there are now major issue with the title search.

Just my 2 cents.

John, you and I have talked about this before. What do you do if they owe money to other liens or mortgages? Can you still perform a quit claim deed? Do I need to hire a lawyer? My understanding is a tax deed / lien trumps all mortgages and liens except state and federal. 

Post: Foreclosure 1st Lien Gave Permission to Be Moved to 2nd Position

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17

I am interested in a property that has an interesting deed recording. US Bank took over 1st lien position per registered deed. The borrower took one mortgage from Fifth Third is 2008 and took another lien from US Bank in 2010. Normally you would look at the oldest lien and follow registered payoffs to ensure lien position. When researching I found a deed that moved the 1st lien to 2nd position and allowed US Bank to take 1st.

US Bank is foreclosing. When following the paper trail it seems if I won the bid at auction I would be first lien holder which would wipe out the 2nd lien. 

Has anyone dealt with a situation like this before? What should I look for? Are there any possible things I am missing?

Quote from the Deed

"The Fifth Third Bank agrees that it will postpone and make junior and subordinate in all respects that a certain mortage by Jeff Smith on May 27th, 2008 for the amount of 108k records in favor of a mortgage executed by Jeff Smith by US Bank for amount 206k. Which mortgage covers real estate described in exhibit A. 

The agreement shall continue in full force and effect so long as Jeff Smith is indebted to US Bank. "

Post: Surviving Liens After Tax Sale

Bryce DavisPosted
  • Los Angeles, Ca
  • Posts 113
  • Votes 17

We do not have that redemption period in SC. I am in the process of hiring a lawyer to consult with to verify legal ramifications. 

Will report back.