Baltimore Real Estate Investing Blog

12 responses so far ↓

• 1 Liz Benitez (6 comments.) // Sep 2, 2011 at 2:19 pm

  That was explained very well. Short, sweet, and to the point. When I was getting my Real Estate license this particular subject was beat to death for several days before it was clear.

• 2 William Tingle (1 comments.) // Sep 2, 2011 at 3:53 pm

  I absolutely LOVE the more obscure laws regarding real estate such as the ones on taxes and how they can throw a monkey wrench into the way things are “supposed” to work.

  Looking for the more “out of the way” ways to get deals or get a foot in the door is what I spend most of my time doing these days.

  It is what you know that will get you the big money.

  William Tingle
  http://www.Sub2Deals.com

• 3 Ned // Sep 4, 2011 at 1:18 pm

  Welcome back Liz, interesting, when I got my license virtually no mention of taxes and the consequences.

• 4 Ned // Sep 4, 2011 at 1:30 pm

  William,
  Thanks for stopping by and taking the time to comment. I am with you. I like to know the law and how to use it to my advantage. Working on more obscure or complicated deals cuts the competition way down.

  PS: your comment got caught by my spam filter “Akismet”. I had to fish it out and mark it as not spam.

• 5 josh // Sep 13, 2011 at 2:18 pm

  Hey Ned, I thought it would be nice to see a post about the foreclosure process now that the notices are being sent out. Maybe you can explain the time-line of expenses involved, attorney fees, hard costs, etc…. I’ve seen lawyers charging different amounts and was wondering why that is. I thought there’s a statutory amount.

• 6 Ned // Sep 17, 2011 at 6:22 pm

  Josh,

  That is a good idea. I am surprised to hear about different rates. Others have recently told me the same. There is a statutory amount but that amount is the limit on what a homeowner has to reimburse you for, not a limit on what the attorney can charge. (at least that is my understanding) Judge Cannon seems to be Cracking down on excessive fees. I’ll try to get a post up this weekend on the matter. Thanks fro reading Josh – Ned

• 7 Sire (6 comments.) // Nov 24, 2011 at 8:02 pm

  Hey Ned, great to hear your voice mate.

  So, I reckon it would be pretty important then that you would only deal with reputable institutions when taking out a mortgage huh?

  All in all though it does seem a little rough that the mortgagee loses his property, especially if they’ve already invested a tidy some of money in it.

• 8 Yury // Jan 9, 2012 at 12:29 pm

  Anthony Onwuanibe charges $800 to start and then $875 when/if the deed is delivered. Curious to know what other attorneys are charging.
  P.S. Have anyone tried to complete the process w/o a lawyer?

• 9 David Buck (1 comments.) // Feb 28, 2012 at 2:59 am

  Most people aren’t aware of these tax lien sales. Do you get many of them there? We don’t have that many here in Hawaii, however they do come up every now and then.

• 10 Nicole // Mar 1, 2012 at 2:57 am

  Hi,

  my elderly father might lose his house because he forgot to pay his taxes. his property no longer has a mortgage. if his house is sold, does he get the money over the taxes? what should/can i do?

• 11 Ned // Mar 4, 2012 at 12:03 am

  Nichole,

  Read this post it should give you some help with the situation.

  If the home is in Maryland, you can contact me with more details by leaving another comment or through the Contact us link near the top of the page.

  Good luck,

  Ned Carey

• 12 Ned // Mar 4, 2012 at 12:12 am

  Yes we have a lot of tax liens here in Maryland. I suspect you have few in Hawaii because of the strong demand for property. No one is going to let a property go just because of the taxes.