Comments on: Advanced: “Found Money”!

By: Rick Dawson

Rick Dawson — Tue, 25 Oct 2011 17:46:04 +0000

I’ve seen many lists online where you don’t have to pay. You only have to become a PI if you are going to work funds that have been on hand for several years (truly “abandoned funds” as defined by law).

The overages we work have been on hand 0-2 years so no PI license should be necessary. Florida is pretty strict that all liens of record must be paid before they give out the surplus, so look for a title report along with the list online and start with the “clean” ones.

By: roland

roland — Tue, 25 Oct 2011 12:30:55 +0000

Hey Rick………..here in central Florida. I heard might need to get special license (PI)? Lists on line…that sounds great. Have to pay for them?

By: Rick Dawson

Rick Dawson — Wed, 10 Aug 2011 18:01:16 +0000

The actual claims process for foreclosures is more lengthy and requires an attorney. Also, there usually can’t be any other parties on the foreclosure that might have a claim ahead of you (like a second mortgagee for example). By contrast, tax sale overages are usually payable “over the counter”, meaning it’s a matter of submitting a claim form not starting a court action. But once you have an attorney lined up who is used to doing mortgage foreclosure overages, and you’re expecting to wait a bit longer to be paid, it’s really not any more “difficult”.

By: Schneequa

Schneequa — Tue, 02 Aug 2011 04:15:31 +0000

Hi Rick,

Is it more difficult to obtain excess proceeds for foreclosures (Deed Of Trust/Mortgage)?

By: Rick Dawson

Rick Dawson — Thu, 14 Jul 2011 04:59:02 +0000

Arlene,

I don’t keep stats on students and their home areas but California is set up nicely for DeedGrabbing. When a sale is held, this is the last day to redeem all properties on that list. So you can contact the owners prior to any sales you see.

Most are online.

Also, the real estate “downturn” has actually made improved property (houses) “doable” in California again – at least for now!

By: Arlene Estrada

Arlene Estrada — Wed, 13 Jul 2011 23:10:07 +0000

Hi Rick, I’ve been following you and tax sales. I’m in california, so. cal to be exact. Do you have any students out my way, and if so, how successful are they with the program and business?

Best,
Arlene

By: Rick Dawson

Rick Dawson — Mon, 11 Jul 2011 17:29:29 +0000

There are only a few states with overages AND a redemption period.

Each state will be different. Some states say that the owner at the time the tax sale was ANNOUNCED is entitled to the funds, so won’t work there. Others say you have to get additional paperwork in this situation.

Your plan will work much better in some tax deed states if you can get a deed just before the sale.

By: brad

brad — Sun, 10 Jul 2011 20:16:46 +0000

If I can get an owner to “quit claim” me his interest in the property after it was sold at a tax sale but before the redemption period ends, can I record that deed with the county and be in line to receive any tax sale overages as “owner of record” at the conclusion of the redemption period?

By: Rick Dawson

Rick Dawson — Sat, 09 Jul 2011 03:07:31 +0000

Well, yes technically – because Cook County doesn’t have tax sale overages

BUT, the important thing to realize is that we rarely work in our home county or home state anyway. We get the records, contact the claimants, get the paperwork signed, and submit the claim without leaving home, even if we live in Massachusetts and work a claim in Caliornia.

You’ll see that it makes no difference how far away from the area you choose, you actually live. We show you which states have tax sale overages right in the 50-state guide that comes with that material!

Hope to see you on board soon!

Rick

By: Lou

Lou — Sat, 09 Jul 2011 02:14:26 +0000

Hi Rick,

I purchased your Deed Grabber E-book enjoyed the material, considering purchasing your Tax Sale Overage Program should I have any concerns about applying the Tax Sale strategies in Cook County, IL.