Florida Foreclosures
I recently read an article regarding foreclosures in Florida. Part of the article was about buying at the courthouse. In the article there was some discussion about looking (doing a title search and checking that they would be purchased with a clear title at the courthouse auction) at all the properties that were coming up at a given auction and waiting to see which ones if any would be “discounted†which are the ones they targeted. I assumed that the “discounted†properties were those that the bank decided not to buy at the outstanding mortgage balance but now I am not so sure of that. Also, I am curious how one finds out in advance which ones would be “discounted†and which would not.
Could someone enlighten me about what “discounted†might mean and how you would find this out ahead of the auction ??
[ Edited by JDPugh on Date 12/28/2010 ]
Good to get go with this so that, it can be really helpful of being the part. I am even looking for the online resource that is for open house from where I can look for the foreclosed house.
We conducted a "quiet title" workshop here in Cape Coral recently. The day AFTER the workshop, the Fort Myers News Press had a headline story on the front page whereby a realtor and an attorney paid a bank $ 151,000 for a property that the bank did not own.
There were provided a "special warranty" deed which only covered the property from the time that the bank had possession. This was "stupid" on the part of two real estate professionals not doing a proper title search and filing a quiet title action. The story is still in the archives of the newspaper.
I have recently had my "quiet title" workshop approved by the Florida Bar for continuing education credits. Email me if your wanting information.
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