In this case the muni may or may not foreclose or may or may not be willing to settle the debt.I'm still curious how FL can collect on code violation liens if they never attach to the tax bill.

Basically, we don't have tax liens we have tax certificates where you're just lending the money to the county for a bid down interest rate, you get no property rights, and to collect after a minimum 2 years you can send it to a tax deed auction.

You could be collecting rent in the mean time.You may be able to buy the note and foreclose or buy a tax lien and foreclose.You could buy his 1/2 and file a partition suit and sell the property and take your 1/2All of these are pretty far out options and may be very difficult to pull off.

I spoke today with a compliance investigator in Colorado Attorney General's office, who informed me that if I purchase a loan in default and eventually have to move to foreclose, I will not be allowed to foreclose without my company first obtaining a collection agency's license.

That is a computer program that collects comps and comes up with a value.

You sell to someone who is willing to pay more because it is owner financed, so sale price 125k, collect 10k.

The rents you collect will also increase as the currency devalues.

If seller cannot prove that deposits were in fact collected, then I would suggest you contact your real estate attorney and see what options are available to you.

You should have no problem.People die, become incapacitated, leave the country and forget to make arrangements thinking the payment letters will be collected by someone collecting her mail.

The reality of my situation was, the guy I bought the property from owned it free & clear, and was happy to collect the rent most of the time as long as he didnt have to do too many repairs..