Houses recorded sale at $100 - Posted by rob h.

Posted by Kim (FL) on June 15, 2001 at 16:53:04:

It was refinanced.

Houses recorded sale at $100 - Posted by rob h.

Posted by rob h. on June 15, 2001 at 16:48:05:

I live in gainesville fl and i’m thinking about getting into realestate investing. one of my key sources of information on properties is our county tax appraiser’s web site. On this site, there are some recorded sale of properties at 100 dollars. i’ve tried to do more indepth research and have come up empty. Are there any investers in alachua county florida or anywhere else that knows what the deal is with this.

thanks

rob

Re: Houses recorded sale at $100 - Posted by Dave T

Posted by Dave T on June 16, 2001 at 11:39:14:

Don’t know about FL, but I just sold my OH property to my tenant. The sale was price $58500. The deed I signed states that the buyers paid “$10 and other valuable consideration”.

Perhaps this is what you are seeing too.

Re: Houses recorded sale at $100 - Posted by SandyFL

Posted by SandyFL on June 16, 2001 at 04:27:06:

In my county they record $100 sale on everything from Special Warranty Deeds (REO’s being sold - or foreclosures sold at auction…) for deeds recorded in probate, and Quit Claim Deeds, as in divorce. Is there an abbreviation alongside the $100 that would help you know which kind of sale it is? (SWD, QCD, etc?)

Re: Houses recorded sale at $100 - Posted by David FL

Posted by David FL on June 15, 2001 at 17:59:21:

What you are seeing are leinholders buying the back the houses they foreclosed on. They would bid up to what is owed (since the money comes back to them anyway). Other biders know that and there is probably not enough equity for them to bid on that property. By getting the house back at $100.00 the bank pays less fees. Try going to courthouse auction you’ll learn alot.
Good Luck…David FL