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Updated about 5 hours ago on . Most recent reply

User Stats

98
Posts
23
Votes
Joe Henry
  • Flipper/Rehabber
  • Jacksonville, FL
23
Votes |
98
Posts

After buying a mortgage auction can you use excess auction funds to pay HOA payoff?

Joe Henry
  • Flipper/Rehabber
  • Jacksonville, FL
Posted

I am between lawyers and would prefer not putting down a 2k retainer to ask this question, so I'm asking here in case this is an easy or common thing to do.

I purchased a property at mortgage foreclosure auction - own it free and clear now except for the ~$2,000 HOA payoff, which in Florida follows the property.

I already sent a check to the HOA's law firm before I had this idea:

Since I paid for the house ~20k more than the judgement was, there are excess funds to be disbursed. Can I put a motion in for the HOA payoff to be paid out of those funds since they are essentially an unrecorded lien? Or in this case, get reimbursed for that payment?

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