All Forum Posts by: Larry Ott

Thanks Peter, I have title insurance on the property, I expect that a title search would pick up only liens/encumbrances that have been filed against the property. Since the HOA has not filed any liens against the title, the title company would have no liability.......is that correct?

Thanks Kyle J for the reading material. Thank you Walter Holmes for your input. Looks like I will be picking up the tab on past due HOA fees.

Thanks Andrew

I recently purchased a SFR property near Ft Myers, FL at auction. It was a foreclosure property purchased through a sheriffs sale. I completed a normal title search and upon sale purchased a title policy. I have a clear title.

It is in a gated community, I contacted the HOA to get set up with them and now find that there is a little over $4,000.00 in back HOA fees that they are looking to me to pay. These fees go back over a year.

My question is: Has anyone had experience with a situation like this, am I am just going to get stuck paying these fees?

Take a look at southern Indiana, Indiana is a well managed state with relatively low taxation and landlord friendly. Louisville, KY, home of the Kentucky Derby, is just across the river, a medium sized city, lots of sports, lots of theater, lots of things to do! You can live in some rural areas of Sou Indiana and still be less than a 30 min drive to downtown Louisville.

WOW.....I thought you had a period of time to get an exchange in place. I didn't realize that it had to be ready to go prior to closing on the original sale. Thanks for the info.

You guys seem to be right on........here's a little different question: I am selling a small tract off of the farm on which I have lived continuously for the last 35 years, the acreage that I am selling will bring substantially more than I paid for the entire farm and house when I purchased it 35 years ago. I will retain approx. 80% of the original property. Will I have to pay capitol gains on the sale or can I do a

1031 exchange?