All Forum Posts by: Elvis Vasquez

search the dade county code enforcement sites (there are multiple).

If you're a smooth talker you might be able to call them and find out about it (however alot of the code enforcement people are completely useless...).

If you need help searching liens,code enforcement ,etc.. PM me I can show you a few tricks since I'm an title examiner in training.

https://www2.miami-dadeclerk.com/cef/

https://www2.miami-dadeclerk.com/cef/mobile/Citati...

2 Votes

Miami, Florida

Originally posted by @Anthony Dooley:

@Elvis Vasquez This is how it usually works. You and your bank are business partners in this deal. You should probably get a real estate agent to write the contract for you. They will ensure that you do not get screwed, so it's worth paying them for the service. Take the contract to the lender. The lender will order an appraisal. If it is a bad deal, they will not let you do it. If they agree to finance the deal, then you are safe. A closing attorney will also be needed to make sure the deed is clear of any and all liens, including back taxes. Back taxes must be paid by either you or the seller before the deal can be completed. In summary, your team is a real estate agent, a lender (bank), an appraiser, and a real estate attorney. With this team, you will win. Without it, you are walking alone in the dark. Good luck.

thank you for your feedback.

I'll update this thread and see how it goes. more than likely I won't go through with this deal... too risky with no enforceable contract due to the impending tax-deed sale.

0 Votes

Originally posted by @Anthony Dooley:

@Elvis Vasquez the liens are paid by the seller with some of the money that you pay them for the house. This happens at the closing table. You will not take ownership unless the liens are cleared. I hope that helps.

how exactly should I go about this? Assuming the property appraises how exactly would I know if my mortgage lender would allow the liens to be paid off at closing instead of being cleared before hand?

he also didn't pay 3 years of taxes (thankfully its not a tax-deed sale yet...)

I have an attorney on retainer so I would assume I would need alot of stipulations to this sales contract if I decide to go through with it however..... long-term wise he would be judgement proof and all those liens (including mine) would disappear (with the exception of municipality liens and taxes) if it goes to a tax-deed sale.

Its a great deal if I can pull it off but its extremely risky...

0 Votes

I have a house that I am interested in and the outstanding liens are currently around 10K.

Is it possible to have the escrow setup in which the liens are taken out of the sale of the House?

Or would the owner have to take care of the liens before I could purchase with an FHA loan?

Let's assume both options are not possible can I pay the lien myself and have the seller contract the house to only sell to me (obv this would be taken out of the sales price).

0 Votes

Has anyone ever used "New American Funding"? If so what was your experience?

0 Votes

I read online that there are a few lenders that actually finance Foreclosure purchases?

I wanted to know how exactly does this work and is it possible to take over the mortgage directly with the LLC that owns the property?

Also are there any companies that "lend" for Tax deed auctions (In this situation I would assume the LLC would purchase the tax deed and you make your monthly payments directly to the LLC and once the amount is fully paid off they transfer the title into your name?).

0 Votes

Originally posted by @Josh Carr:

@Elvis Vasquez A lien in the state of Florida is good for 7 years from the date of issuance. If you are seeing something from the year of 1982 it is most likely not a valid lien. Check on the full bill history once you have plugged the property address or parcel id in the tax system search on

https://miamidade.county-taxes.com/public

This will let you know if the lien is still valid. You may find some newer liens on the property that will allow you to get involved if you are interested. Look at the outstanding amount of bills and it will tell you how much is outstanding on that property. Once you purchase a tax lien, and make sure you are not paying someone's taxes, you will be able to foreclose on the property if you are past the two year redemption mark. The redemption period begins at the lien issuance date. It will tell you on the county site when the lien was issued. You will go to

https://www.bidmiamidade.com/

to purchase a lien at the auction. Over the counter will be through the county.

thank you very much.

0 Votes

in a similar situation bumping for answers.

I'm an accountant in terms of your tax liability you'll be stuck with the property taxes due to local government however on a Federal level you can apply these mortgages to as a tax credit.

if you're going to own multiple properties you may want to start a LLC.

0 Votes

Originally posted by @Andy Mirza:

We bought an NPN earlier this year that went REO during interim servicing. I knew it was going to be bad but the interior was far worse than expected. Chewed up doors, dog feces and urine covering the 2nd floor, and homemade dog kennels in one of the rooms! We thought the previous occupants were raising fighting dogs but a neighbor later told us that a "crazy" lady lived there and took in all the neighborhood strays. We got the NPN for a good price, considering all of the risk, and did very well when we sold it in August.

(Sorry about the sideways pics, I couldn't figure out how to rotate them :))

oh God.....

0 Votes

All Forum Posts by: Elvis Vasquez

Elvis Vasquez has started 30 posts and replied 138 times.

Post: EquityMax FL has anyone used them?

Post: Code Violations in florida weed and grass

Post: Do mortgages allow houses to be purchased with Liens?

Post: Do mortgages allow houses to be purchased with Liens?

Post: Do mortgages allow houses to be purchased with Liens?

Post: Looking for a FHA-loan (New American Funding legit company?)

Post: Purchasing a Foreclosure or Tax Deed auction with a Mortgage/Loan

Post: Tax Auction HUD Lien

Post: Buy Parent's Pre-Foreclosure

Post: How to lose $20k on a Non Performing Ohio Loan