Hello, thank for checking us out. It does not really work like that in most states. The first position lien will be given to the oldest tax lien issued. Once the oldest tax lien has hit the end of the redemption period - they can begin the foreclosure process. So you don't need to create a claim in order to become the first position lien. Tax Liens are a first position lien automatically based on them being a property tax lien. If the oldest lien does not foreclosure on the property, then the next oldest lien owner can foreclose once they hit the end of the redemption period. Hopefully that makes since. We go over this in greater detail on some of our Tax Lien Videos. Thanks, SJ Swenson
What's the best way to find out if the tax deed your researching have any liens like county lien HOA liens and other liens you didn't see while researching? I bought a tax deed property for $4500 and I didn't know it had $7000 plus liens on it, I couldn't sell it so I gave it away to another investor that had the money to take care of the liens...
In Florida once the property has gone through the foreclosure process it will eliminate any mortgages, judgments’, mechanics liens, ect. The one thing that might survive after the foreclosure is another type of governmental lien. Most common would be a water or city lien. As far as HOA liens, it should not be an enforceable lien. There have been several lawsuits in Florida where the HOA lost the case against a tax deed investor. We do recommended speaking with the HOA before deciding to bid on a tax deed condo in Florida. That way you can feel out the HOA and see how big of a pain they might be to deal with. But the law has already spoken, and they should not be able to make you pay the back HOA fees. So what we usually need to watch for is any type of governmental lien. These types of liens can be found by doing a title search or researching the property in the county and court records. Some counties will conduct a title search before offering the property at sale. So you can contact the county and see if they have a title search available. If not then you will need to get a title search done or research the title fully yourself. This is a process of going back through each deed and reading them for any liens against the property. You can also contact the city and ask about any water or other city liens. Jummy, I am interested to hear what type of liens was placed against the property you purchased in Florida? Was it some type of city lien that equaled $7000? Let me know if you have any other questions. Thanks, SJ Swenson
Hi James, as far as insurance it will depend on what your goals are for the house. If you plan on keeping the home then you will want to get some kind of property insurance. But when it come to title insurance you will probably need to go through quiet title if its a tax deed. Thanks, SJ Swenson
@@taxsalesecrets Good video. Is the sales process the same for selling commercial property that was acquired through the tax deed sales/auction? Thanks
Hello, Hi. So I just purchased a tax deed land. I want to sell it, what are the steps? can someone help me out? QTA? TITLE COMPANIES? DO I NEED A REALTOR? WHAT DO I NEED TO DO? JUST GO THE COUNTY OFFICE AND TRANFER THE PROPERTY TO THE PERSON? WHAT ELSE DO I NEED?
Hello, when it comes to selling a property you have different selling options with different steps depending on the option you choose. For example selling "as is" or selling it with a "Warranty Deed' will have different steps. We do have some videos where we review some of the selling steps here on UA-cam. But really it will be our Membership Program on www.taxsalesupport.com where we have videos that review all those types of questions. Thanks for watching, and I hope you sell it quickly!
Hello James, thanks for watching my video. Most of the time you will only have to pay the property taxes from the time you purchased the home until it is sold. So usually the property taxes will be prorated for how many months you owed the property. For example if the property taxes for the year was $1000, and you owned the home for 4 months before you sold it - you would have to pay around $333. Hopefully that answer your question. Let me know if I can help with anything else. Thanks, SJ Swenson
Hello everyone, if you have any questions about tax lien or tax deed investing - go ahead and ask me in the comment section. Thanks, SJ Swenson
Do you teach how to create a perfected claim in order to become the first priority Lien position?
Hello, thank for checking us out. It does not really work like that in most states. The first position lien will be given to the oldest tax lien issued. Once the oldest tax lien has hit the end of the redemption period - they can begin the foreclosure process. So you don't need to create a claim in order to become the first position lien. Tax Liens are a first position lien automatically based on them being a property tax lien. If the oldest lien does not foreclosure on the property, then the next oldest lien owner can foreclose once they hit the end of the redemption period. Hopefully that makes since. We go over this in greater detail on some of our Tax Lien Videos. Thanks, SJ Swenson
What's the best way to find out if the tax deed your researching have any liens like county lien HOA liens and other liens you didn't see while researching? I bought a tax deed property for $4500 and I didn't know it had $7000 plus liens on it, I couldn't sell it so I gave it away to another investor that had the money to take care of the liens...
In Florida once the property has gone through the foreclosure process it will eliminate any mortgages, judgments’, mechanics liens, ect. The one thing that might survive after the foreclosure is another type of governmental lien. Most common would be a water or city lien. As far as HOA liens, it should not be an enforceable lien. There have been several lawsuits in Florida where the HOA lost the case against a tax deed investor. We do recommended speaking with the HOA before deciding to bid on a tax deed condo in Florida. That way you can feel out the HOA and see how big of a pain they might be to deal with. But the law has already spoken, and they should not be able to make you pay the back HOA fees. So what we usually need
to watch for is any type of governmental lien. These types of liens can be found by doing a title search or researching the property in the county and court records. Some counties will conduct a title search before offering the property at sale. So you can contact the county and see if they have a title search available. If not then you will need to get a title search done or research the title fully yourself. This is a process of going back through each deed and reading them for any liens against the property. You can also contact the city and ask about any water or other city liens. Jummy, I am interested to hear what type of liens was placed against
the property you purchased in Florida? Was it some type of city lien that equaled $7000? Let me know if you have any other questions. Thanks, SJ Swenson
What kind of insurance should I have
Hi James, as far as insurance it will depend on what your goals are for the house. If you plan on keeping the home then you will want to get some kind of property insurance. But when it come to title insurance you will probably need to go through quiet title if its a tax deed. Thanks, SJ Swenson
@@taxsalesecrets Good video. Is the sales process the same for selling commercial property that was acquired through the tax deed sales/auction? Thanks
Hello, Hi.
So I just purchased a tax deed land.
I want to sell it, what are the steps? can someone help me out?
QTA?
TITLE COMPANIES?
DO I NEED A REALTOR?
WHAT DO I NEED TO DO? JUST GO THE COUNTY OFFICE AND TRANFER THE PROPERTY TO THE PERSON? WHAT ELSE DO I NEED?
Hello, when it comes to selling a property you have different selling options with different steps depending on the option you choose. For example selling "as is" or selling it with a "Warranty Deed' will have different steps. We do have some videos where we review some of the selling steps here on UA-cam. But really it will be our Membership Program on www.taxsalesupport.com where we have videos that review all those types of questions. Thanks for watching, and I hope you sell it quickly!
What kind of taxes do you have to pay when you sell a house
Hello James, thanks for watching my video. Most of the time you will only have to pay the property taxes from the time you purchased the home until it is sold. So usually the property taxes will be prorated for how many months you owed the property. For example if the property taxes for the year was $1000, and you owned the home for 4 months before you sold it - you would have to pay around $333. Hopefully that answer your question. Let me know if I can help with anything else. Thanks, SJ Swenson