Florida-PreForeclosures
What Pay For Access Sites Don't Want You to Know

Florida-PreForeclosures
• You can locate them for free
• You have access to property lists/info 60-90 days before it appears on commercial sites.

What can be achieved in one county can be duplicated in others, the research required is the constant. The number one thing to know about locating Florida-Preforeclosures is "Lis Pendens". This single source will tell you everyhting you need to know.

For more on this see my PreForeclosureFinder page, it too is free. To locate the official records for any Florida County use the interactive map here for free:
Florida-PreForeclosures/Find Official Records.

Let's look for Florida-PreForeclosures in Brevard County!
Brevard county is very typical of what you will find in many counties. I am searching the records on 2/10/2009 so your findings may differ from mine but the basis for locating the information is the same.

Link to Brevard Official Records

Use Official Records to Find Florida-PreForeclosures

Follow this Progression
Select:"Search January 1981-Present", search "Records by Document Type", use the down arrow to select "Lis Pendens" then select start date of 02/05/2009 end date of 02/10/2009, select "Search Records"

211 Lis Pendens were recorded for the given dates.
No.1. on the returned list, click the First Direct Name and view the Lis Pendens for this case. Write down the name of Plaintiff, Defendant, legal description of property and address.

Return to search page and search records by name: last, first of Defendant. Begin date of 01/01/1981- end date of 02/10/2009.

Note: Many times individuals don't use their complete legal name when applying for a mortgage or conveying a property. It would be in your best interest to also seek out derivatives of a name. Example, search on Kim instead of Kimberly for a first name so that all derivatives of the first name starting with Kim will be returned, I also conduct the search without middle initials.

As you make your way through the documents, you are matching mortgages with satisfactions, making sure the Borrower is the right person and the property of concern is the one you are interested in. Run the same query for each Defendant.

What did you find? I found a first mortgage and lien which aren't yet satisfied.

Return to the search page and Search Records by Doc Legal Search; this allows a search by property legal description. Again, for purpose of our search the start and end dates should be 01/01/1981 and 02/10/2009. Enter the lot, block, and name of subdivision.
Find anything new?

By sorting the deeds by date, you can easily follow the chain of ownership. Notice that only mortgages, deeds and case were returned. This is why I find it important to have the ability to search by name and legal description. It makes research errors less likely, you can cross reference one list against the other.

Sometimes if a lien is attached to the owners name it does not show up in the search performed by property legal description.

So now it's off to the Property Appraiser's Website to locate: a property map, property value, sales data, current address of owner, aerial view, property features.

Property Appraiser/Brevard

Follow this Progression
select "Property Research", "Accept", Real Estate Records By "Property Address", enter street name and number that you pulled from the Lis Pendens.
Note: Many times you will not find an address on the Lis Pendens so you will need to search by Name of Defendant or property legal description, Select the account number for your address.

Looking at this property I would say it is not a good prospect for buy direct,but all is not lost. This property will likely go to auction  because mortgage amount far exceed value of property.  If no one bids at the auction, title will be issued to the bank.  If I were truly interested in this property, I would track this property through the cycle. After the auction, if bank is to receive certificate of title, you can contact the bank and make an offer.  The attorney for Plaintiff who signed the Lis Pendens will have the contact information for the bank. I have additional information about this on my BankAuction page, see Being First and Getting the Property. BankAuctions and Lists For Free

While this  property is a bust, there are 210 others in this same 5 day time span.  Eventually you will become familiar with specific subdivisions and areas that you prefer and become very comfortable with the research.

QUICK TIP for Florida-PreForeclosures, save time by locating properties with the greatest potential for direct owner purchasing.

As you run through the list of 210, if you see a Mortgage Company,Bank or a Commercial Lender listed as a Defendant and another Bank/Mortgage Company/Commercial Lender as Plaintiff move on. All mortgages will need satisfying if you buy directly from the owner. The property will likely have a second mortgage and there will be little equity in the home. This should cut your list by 70-80%.

One final note: NEVER TRUST A SINGLE SOURCE FOR INFORMATION.

The information found here is my opinion and should not be interpreted or construed as legal or professional advice. No legal or professional advice is being given and the use of this information is at the readers own risk and peril. It is advised that those considering this investment should seek qualified legal and professional services.

Florida PreForeclosureFinder
A single document source for success.

PreForeclosure Tutorial (You Are Here)
What Pay For Access Sites Don't Want You to Know. A free guide to finding Florida-Preforeclosures before anyone else.

FloridaPreForeclosure Tutor
Another instructional tutorial on doing due diligence and finding pre foreclosures in Florida.

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