Area Foreclosures

Thanks 30ashopper!
Can you elaborate on why its a speed bump and why the lis pen has to be refiled?

The lien holder becomes a grantee claiming rights to some part of the property. The bank (grantor) has to refile it's legal claim against the lien holder and the owner. The lien holder is also given time to decide what type of arbitration to pursue. In cases where the lien is small in value, the holder will basically step out of the way in let things go through. In cases where the lien is large in value, the lien holder may choose to take more direct action. All this paperwork takes time, entities involved have time limits until they must file, etc.. That's the speed bump.

Anybody know the true Priority of Liens in Florida?

Anybody know the true Priority of Liens in Florida?

If I understand what you're asking - they are secondary. An association is entitled to about 1% of the sale price at auction, or what's owed, whichever is smaller.

If I understand what you're asking - they are secondary. An association is entitled to about 1% of the sale price at auction, or what's owed, whichever is smaller.

What I meant was, what are the priority of liens? It's not always first in time is first in line.

I was talking about the good ole' days where you could confront a party and work out your differences on the spot.

http://tinyurl.com/3ougk8

What I meant was, what are the priority of liens? It's not always first in time is first in line.

Tractor-trailer wide legal ???, AA, pre-title Xfer, post title Xfer, pre-deed record notice, post deed record notice, notice how I am dancing around notice.

What I meant was, what are the priority of liens? It's not always first in time is first in line.

That's a good question, I always figured it was first in line, but maybe rank is given based on the type of holder? Not sure how they would break that down though fairly.

Tractor-trailer wide legal ???, AA, pre-title Xfer, post title Xfer, pre-deed record notice, post deed record notice, notice how I am dancing around notice.

I better study up on my Sanskrit.

That's a good question, I always figured it was first in line, but maybe rank is given based on the type of holder? Not sure how they would break that down though fairly.

There are so many types of lienors and I have been wondering about these HOA's and Condo's. I know property taxes jump in front of everybody. Construction liens get special status, etc. Someone the other day posted a cool note about C.D.D.'s and their Bond holders too.

The foreclosure page has now been updated-

http://www.joshmcleanhomes.com/buyer_mistakes.asp

The foreclosure page has now been updated-

http://www.joshmcleanhomes.com/buyer_mistakes.asp

Josh, it is my understanding that there is no disclosure on bank owned properties or, franklly, auctioned properties.

First, does this rule apply to short sales as well?

What about environmental issues with the house. Is there any way to find out if there have been any in the past? (This is a major health concern for me).

If not to the two above, is there any recourse if a home is purchased that has environmental issues after the fact even though it was sold as is? This may be a hidden flaw?

Thanks for your insight in this matter.

Josh, it is my understanding that there is no disclosure on bank owned properties or, franklly, auctioned properties.

First, does this rule apply to short sales as well?

What about environmental issues with the house. Is there any way to find out if there have been any in the past? (This is a major health concern for me).

If not to the two above, is there any recourse if a home is purchased that has environmental issues after the fact even though it was sold as is? This may be a hidden flaw?

Thanks for your insight in this matter.

The person filling out the Sellers Disclosure has to answer it truthfully based on their knowledge of the home.

Josh, it is my understanding that there is no disclosure on bank owned properties or, franklly, auctioned properties.

First, does this rule apply to short sales as well?

What about environmental issues with the house. Is there any way to find out if there have been any in the past? (This is a major health concern for me).

If not to the two above, is there any recourse if a home is purchased that has environmental issues after the fact even though it was sold as is? This may be a hidden flaw?

Thanks for your insight in this matter.

There will be no sellers disclosure on foreclosures. The contract will also be done on a contract provided by the bank. It pretty much relinquishes them from any responsibility after the deal is done. You need to have the property thoroughly inspected before the purchase and do your due diligence. The title company will help you in finding out if there are any liens on the property. The bank should take care of all liens before you purchase the property. Diligence is needed when purchasing any property, especially those owned by the bank.
With that said, I've sold several this year and haven't had any problems. It's all been very smooth.

There will be no sellers disclosure on foreclosures. The contract will also be done on a contract provided by the bank. It pretty much relinquishes them from any responsibility after the deal is done. You need to have the property thoroughly inspected before the purchase and do your due diligence. The title company will help you in finding out if there are any liens on the property. The bank should take care of all liens before you purchase the property. Diligence is needed when purchasing any property, especially those owned by the bank.
With that said, I've sold several this year and haven't had any problems. It's all been very smooth.

Josh, I guess you know I have been watching you from afar. I think it's tremendous that you have found a way to post such huge numbers this year. Keep after it. JC

Josh, I guess you know I have been watching you from afar. I think it's tremendous that you have found a way to post such huge numbers this year. Keep after it. JC

Josh works hard, stays McClean and is cute as a button!!!

The detailed foreclosures page has been updated as of today. To view all available foreclosures and short sales in the area visit this page.

http://www.joshmcleanhomes.com/buyer_mistakes.asp

Josh, Are these all the Bank owned properties in Sowal? Is this a partial listing of select properties or all inclusive? Thanks, JC

Josh, Are these all the Bank owned properties in Sowal? Is this a partial listing of select properties or all inclusive? Thanks, JC

This is a full list of all properties from Destin through Inlet Beach that are listed through the MLS.

Sales and inventory statistics through October are now up.

http://www.joshmcleanhomes.com/gold_custom1.asp

I have updated all area foreclosures. I changed it so that you can see them by area and not by price range. Let me know if this is better.

http://www.joshmcleanhomes.com/buyer_mistakes.asp

I have updated all area foreclosures. I changed it so that you can see them by area and not by price range. Let me know if this is better.

http://www.joshmcleanhomes.com/buyer_mistakes.asp

..don't know if it is "better" but it is unbelieveable as to how much these folks paid (or should I say, how much these banks lent) for these places :shock:

I can't believe that those towers and towers of condos and chunks of dirt bought during the bubble that are now "for sale" (not short sale or foreclosure) are ever going to clear the market.

.

some will eventually become bank owned and sold at the new owners leisure with the help of the trillions of dollars of current and future bail outs.

Any asset wordwide that used leverage by the consumer or speculator to buy or speculate on, is undergoing a revaluation. The governments around the world will try to legislate incentives to make sure the deflation is orderly until the supply/demand, risk/reward, and discounted cash flows bring prices back to a "real value" instead of artificially inflated values.
Business, consumers, and governments are having to clean up their balance sheets and will have to adapt to the coming new world of increased regulation and taxation.
Clearly the arena of second homes is spearpoint of overvaluation, overleverage, and yes overindulgance that the consumer/speculator produced.
Looking at Josh's charts, IMHO, that barring the creation of some artificial legislative incentive ( i.e. tax credits or tax free access to I.R.A. s) for second
home ownership, prices should stop at the inflation adjusted pre-bubble long term prices (this would work out to be around $180 per sq ft)

they will eventually become bank owned and sold at the new owners leisure with the help of the trillions of dollars of current and future bail outs.

...and the "new owners" are going to continue to pay the monthly HOA/Condo fees, maintenance, insurance and taxes "at their leisure" too.

.

Shel, There have been "relatively" few liens almost none on banks by associations. Maybe some property managers can report just how bad it is getting. Lots of investulators paid cash and are listing upside down. Many have sold and the individuals have eaten the loss without "to much" stress to the hoa's. The majority of shorts reo's and foreclosures in the condo towers go quickly once the sales prices are near pre construction prices. Panama City is in the low to mid 200's per foot. One banked owned uber $$$ condo in Seagrove has had a few sales of over a million recently and the redfish group has only had to deal off a few units in the low 200's per foot. As far as dirt goes prices are actually great in a bunch of areas and still not selling. I keep waiting for more shoes to drop. In the past it has always been easy to see the end of the tunel because it was announced with a mother of all absolute auctions. It appears this time the financial institutions are on cruise control. Meanwhile you are probably right about how long it would take to sell existing inventory. long long long...time