Property Outstanding Liens

Question 1

Describe how to navigate to evaluate the property for liens in the property:

Answer 1

Navigate:
USTLA-> title-> Records Search->

Then click Florida->cmnd f POLK->Recorded Document Search-> Red GO button (official records search online)

Question 2

You will need three bits of information to do a records search. What are these three things?

Answer 2

Need 3 things to do a search:

Last time there was a warranty deed
Owners Name(s) - check all owners
Legal Description of property

The legal description of the property is something that you will look at after you’ve searched under owner name and date range.

When you find the liens, you will determine if the property description is what the lien is on.

Question 3

What does LP- List Pendus- mean?

Answer 3

“Foreclosure”

Question 4

There are certain descriptors when searching liens that you must pay attention to. What are the names that might suggest an issue?

Answer 4

Looking for anything labeled:

Lien, Satisfaction, Judgement, Release, Notice– pay attention to those.

Question 5

What do we think about when there is an IRS lien against the home?

Answer 5

The IRS does not want the home but will go after the money after the auction. You’ll want to make sure there is enough in the overage

Question 6

How can overage be a great tool?

Answer 6

You can offer it to the resident who won’t leave.

It’s helpful to pay off the HOA. This will avoid legal actions from lawyers.

It helps pay off IRS liens or other liens.