All Forum Posts by: Dena Zeid

@Jeff Bridges  maybe i am rushing it or not.  This house is in the same neighborhood as my sister's and it's a great gated community and the house is in a very good condition.  Did walk through and it looks great.  It's really an investment but also a possible future home that i might move into so that's where the excitement comes in.

@Sebby Gabre Madhin thanks very much for your input. since I am very new to this, can you please explain what an EMD is? (sorry not familiar)

@Charlie DiLisio  thanks so much for your help.   for the below statement on Hubzu, does that mean if i'm paying in cash that i have to settle for their title company?  please advise.  I do not have any experienced people around me but i really don't want to miss out on this great deal.  

Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fees, related search costs and reduced escrow/closing fees, since the seller will cover the charges. The standard charge for title insurance services in Florida is $1,299.32. Please note that buyers making all-cash purchases are automatically opted in to save through this method.  

@Stephanie Medellin thanks for youir reply.

Unfortunately, the auction ends tonight.  

If I can get an inspection before paying the earnest money then i can back out right?  I am not committed until i pay the earnest money, correct?

@Charlie DiLisio

also, would you be able to advise as to what the below means on the hubzu site:

      Buyer has 5 days from receipt of title information to raise any title objections.

not familiar what title objections is about?  

Also, see below:

Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fees, related search costs and reduced escrow/closing fees, since the seller will cover the charges. The standard charge for title insurance services in Florida is $1,299.32. Please note that buyers making all-cash purchases are automatically opted in to save through this method.  

I will be paying all-cash, does that mean i can't chose my own title company?

@Brandon Sturgill  i'm looking for good single family home flips either on Long Island, NY or Jacksonville, FL.  I have access to some cash but it's very frustrating as i haven't had any luck obtaining any good deals and i've been looking for a very long time.  It seems like i have to have some inside connections to grab HOT deals.  Not sure where to begin.  

@Charlie DiLisio  thank you for your reply, it was very helpful.  

When i bid, they already add on top of the bidding price 4% buyers premium, which in my case comes out to 14K.  Is this the same as the 7K fee that you mentioned? 

I just want to make sure there are no hidden fees.  

Also, would you say that all liens on the property are released before listing on hubzu?  

And if i do an inspection/title search and outcome is unfavorable and i haven't yet paid the earnest money, then i'm in the clear, correct?

Jeff bridges and Wayne brooks

well I'm very interested in this property, as an investment because it's undervalue but also a possible home for me.  I would like to purse it.  It would be cash.  You don't think that I can do a title search and inspection in 48 hours after being accepted?

hello all,

I'm a new investor :). I'm looking at aproperty in Florida in a very nice gated neighborhood that's in foreclosure.  The property is listed on hubzu.  The property seem to be in great condition, but no inspection was done.  Termites and mold might be a concern.  The property is 3400 sf.  I did some research and it seems that the property went on the city public auction back in March and ended up with the bank.  The bank is now listing it with hubzu.  Here are my concern so:

1. The bank that foreclosed is not the first mortgage.  The property was bought in 05 with a mortgage of 300kish. This loan was never SAT.  A few years after,  the owners took out another loan for 500kish.  This is the loan that forced the foreclosure.   Again, I'm a newbie, so I'm just sharing my findings.  Should that be a concern?

2.  Is hubzu a legit website? I did some research and got mixed reviews.

3. Hubzu has no contingencies, so I would lose my earnest money if there was an unfavorable outcome to the inspection or the title search.  I have 48 hrs to pay the earnest money.  Do you think I can do a title search and inspection within that short timeframe?

4. Worst case scenario, how much can it cost to treat a 3000 sf house for termites and mold?

Thanks for your time, any respons would be helpful :)