All Forum Posts by: Pancham G.

@LeeAnn Owens did you end up using Federa?

@Marc Shin have you tried using them? Anyone else?

@chris  

@Chris Heinmiller Did you use the title search feature of PropertyOnion. Just wondering what your experience was. I am trying to purchase a few properties in bank foreclosures and looking for an affordable way to do a title search.

Hello,

I am looking into purchasing a property at a tax deed auction in Florida. I have a few questions and i would appreciate if someone can help me with them.

1) As per Florida law, the county does a lien search for last 20 years and notifies are the lien holders about the tax deed auction. Is this lien search sufficient or do you guys do a full title search?

2) What happens to judgement liens after a tax deed auction? Are they wiped if surplus is not enough to pay the total lien amount and the lien holders were properly notified about the auction?

3) What happens to IRS liens after tax deed auction? Are they wiped if the surplus is not enough and they were properly notified?

4) My understanding is that all the liens except county, municipality, code enforcement liens are wiped. Is that correct? Are there any other liens that are not wiped?

5) What happens if county's lien search misses a lien holder and the lien holder shows up after the auction? Will the buyer end up taking the loss or will the county correct it by either canceling the sale or compensating the lien holder?

5) Can someone please recommend an attorney who can guide me before and after the auction? 

Thank you

Regards

Pancham

Thanks @Danny Randazzo for the mention. @Anthony Trashani, i do know a few multifamily builders who build in Bronx. If you PM me, I can connect you both. 

Hello everyone...

Hope that you are having a blessed day. I’m looking for an experienced architect who can help us with grounds up development of multifamily in Newark, NJ . Must have experience with the zoning/variance. We are looking to build 12 to 30 units (depending on what gets approved)

Does anyone have a recommendation?

Thanks so much,
Pancham

Thanks everyone for your input. I am hoping that this bill or a variation of it does not get passed with these provisions against landlords.

 Sad but true.

Yesterday, the U.S. House of Representatives passed H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act. The bill, while intended to provide further relief to the American families and businesses harmed by COVID-19, presents both positives and negatives for the apartment industry.

Here is the summary of the bill and its impact to Multifamily by NAA - National Apartment Association - https://www.naahq.org/news-publications/what-you-need-know-about-heroes-act

One big concerning bullet point is 12 months of eviction moratorium. Here is a third bullet from the article above:

"Dramatically extend the CARES Act’s eviction moratorium to apply to virtually all single family and multifamily rental housing and suspend the collection of fees and halt eviction cases due to nonpayment of rent for 12 months from the date of enactment. Additionally, this section would restrict rental housing providers from issuing “notices to vacate” due to nonpayment until after the moratorium ends and prevent providers from requiring a resident to vacate the premises until 30 days after the notice is served."

What are your thoughts?

Thanks @Shannon Robnett! Definitely not a get rich quick scheme :)