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Updated over 6 years ago on . Most recent reply

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Julia Dugger
  • Rental Property Investor
  • Jacksonville, FL
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FL title question -- seized property?

Julia Dugger
  • Rental Property Investor
  • Jacksonville, FL
Posted

I'm interested in a Florida property showing as on the docket for auction next week -- in looking at the transaction history on the property, there's a Certificate of Title (unqualified) in October of this year for $200 that shows the following:

GRANTOR: (JANE DOE) ETAL/UNITED STATES GOV TREAS DEPT ETAL

GRANTEE: BANK OF NEW YORK MELLON TRUSTEE ETAL/ CWALT INC ALTERNATIVE LOAN TRUST 2006 OC1 ETAL

The property is currently listed for sale but showing an "offer accepted" designation. The auction is scheduled for next week. 

I'm trying to understand what's happening here -- it doesn't look like a typical foreclosure sale took place but clearly something happened. Maybe it's a federal asset seizure of some kind? 

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Well, it looks like the foreclosure did occur in October, though usually the “price” is $100, not $200, when no one bids due to the revealed max bid.

You need to look at the foreclosure file for the sale back in October, I assume the case no.s for the one in October and the one now are the same....that October sale was likely set aside for some reason, and rescheduled for now.

One somewhat confusing point, Who (as the owner...is it an REO listing or not)has the property for sale now, that shows pending?

Reading the foreclosure file, or at least the case events, likely online, should tell you.

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