All Forum Posts by: Sid Liso

I would love to know the ins and outs of this as well. Would these be properties without insurance coverage or with insurance coverage? I suppose you would have to wait for any insurance settlement to go through before conducting a purchase/sale? I would love to hear from anyone with experience in this area also. Great question. 

@Wayne Brooks @Esaul Viramontes Thank you both for the responses. Wayne, normally i would agree with you, but not in this case. I would explain more, but will wait for everything to be complete with this transaction. 

Thanks again. 

Just wondering if it is at all possible to get information regarding previous offers on a home? I know you can always ask the listing agent, but is there any other way of getting information on a previous apoffer? Appraisal records, inspection reports, anything at all? 

Thanks in advance 

@Tim FitzGerald Thanks for the encouragement. I did check county records online and it looks like the addition was permitted. Oddly enough though, the doc has 'Owner as contractor' in it. I don't really know how that is possible when electrical work was done, but maybe the owner was a legitimate contractor. 

Right now it looks like a good deal. I will be visiting again and inspecting it thoroughly before putting in an offer. With a creative eye and quality modernization, i could get 30% increase. 

Let's see what happens. Thanks again. 

@Tim FitzGerald Thanks. That's exactly what I thought. They are definitely asking too high a price for the place if you remove the addition from the calculations. I have to check and see if the addition was permitted, but right now I don't think it was. However, like you said, it is a nice negotiation point. 

i am looking at a home here in Fla. I believe there has been an addition to the home that has not been registered with the county. It is approximately 1/4 or more of the sq footage of the total heated space. Is this a big deal? 

How does this affect the price of the home? 

I assume if it is not registered, it may not be up to code. I will get an inspector if I look to buy the home. 

Is it difficult to register the addition? 

Can I use this to negotiate a significantly lower price? 

Thx 

@Wayne Brooks Thanks! Is the language for the subordinate clause obscure and muddled legalese or is it plain language a layman like myself can notice and understand? 

Thanks again

I am in Florida and I was wondering about the county auctions held here. If a property has a 2nd mortgage, are you responsible for paying if you win the property at auction? I know you are responsible for any liens. Can they auction a property with a second mortgage? 

Also, if you are doing your own due diligence, does a second mortgage appear simply as another mortgage in the county records? 

Thanks

@Wayne Brooks Thanks for the quick reply. It's not that I don't want to use an agent, I just wanted to know if it was more or less 'mandatory' to use one. Since I look at so many homes, I don't really want to have to deal with scheduling appointments with different people especially when there is a high chance I may not even be interested in the property. Also, I was under the impression that here in Fla., a good title agent/company is all you really need, but I guess I am mistaken. 

I guess i should get on the phone with my agent lol. Thanks for the info. Have you purchased many homes through these agencies? 

Also on a side note, do second and third mortgages get wiped out at tax deed sales? I read everything, but municipal and utility liens get wiped out, is that more or less correct? 

Thanks again. 

I just wanted to ask those who have experience buying through Fannie, Freddie, and HUD if you used a real estate agent or simply had an attorney and title company work for you? I ask mainly because on one property I wanted to view, the listing agent kind of insisted I have an agent contact them which I thought was odd. I forget which site it was on. Also, I am buying in Florida.

Any advice is greatly appreciated. Thanks.