Properties for sale

[John S. Rabi]

quote:

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Originally posted by rbakker

I did wonder what would happen if it turned out that the person who won the auction wasn't able to pay. They say no personal checks etc but anyone can walk in off the street and bid, thinking they can pay later or maybe wth a credit card.

The HPPOA sould try to get their hands on some of the excess and see if it can be used to pay off any outstanding road maintenance fees - if that's legally possible.

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It did happen at the last tax sale and they put the property back on the auction right away.
The proceeds from the tax sale is used to pay off the outstanding balance of the property tax and associated fees first. If there is any excess funds left, it is used to pay off the other liens, including road maintenance fees, provided the HOA filed a lien against the property. If there is anything left than it is given to the original owner of the property.

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
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