preforeclosure sales
Anyone have any knowledge of the set
of laws here in florida regarding pre-foreclosure sales? thanks
Anyone have any knowledge of the set
of laws here in florida regarding pre-foreclosure sales? thanks
BUCS14:
Wassup Partner?
To answer your request:
While there is nothing in the civil codes about buying someones house for a discount from market value, and then selling it for a profit Knowing the LAW and it's requirements pertaining to US (REI) Investors is TOTALLY SMART!
First Off---What you can't do is lie about it, or hide it, or tell someone you are buying their house for full market value, when you are not.
Secondly, the laws are all about full disclosure, and giving the owner a chance to change his mind (the 5 day cancellation rule in CA). There is a lot more to it of course, but that's the SKINNY for now.
BUCS14, take the time to read the Civil codes for FL and then ask an active, practicing real estate attorney their interpretation.
I'm sure it will help you in your REI efforts!
Click here to read :
FORECLOSURE LAWS By STATE
http://www.foreclosures.com/pages/state_laws.asp
Hope this Helps!
Derrick Ali
[addsig]