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Rainmaker
1,201,477
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

First thing is speak with a real estate attorney

Apr 09, 2019 06:35 AM
Rainmaker
2,399,888
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Cry? Tim Nguyen I would NEVER advise a client to do owner financing without a solid contract written by an attorney.

Apr 09, 2019 07:05 AM
Ambassador
5,060,488
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Depends on your state laws. Check with an attorney.

Apr 09, 2019 07:20 AM
Ambassador
1,292,019
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Most sellers will seek legal assistance from an attorney and foreclose on the property. The HOA most likely will place a lien on the property if dues are not paid. If taxes were not paid, the county will place a lien on the property too. 

Apr 09, 2019 07:47 AM
Rainmaker
4,900,966
Richard Weeks
Dallas, TX
REALTOR®, Broker

Seller can foreclose, just like a mortgage company could.

Apr 09, 2019 07:42 AM
Ambassador
3,349,349
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

What are the laws in the state of Texas pertaining to property taxes? 

What do the governing documents for the HOA say about collections and foreclosures?

I wish you all the best with your real estate studies. 

Apr 09, 2019 06:27 AM
Rainmaker
1,056,237
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I can't speak for Texas and your deal has many moving parts that would require legal counsel.

But I have done many seller carryback deals and consider it to be most important that an impound account be set up for disbursements to make sure taxes, insurance, assessments and association dues are collected along with the monthly payment and disbursed by a qualified account servicer.

Apr 09, 2019 07:53 AM
Rainmaker
5,238,979
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Follow the laws of the state of Texas regarding default and foreclosure. Seek the advice of the competent legal counsel.

Apr 09, 2019 07:33 AM
Rainmaker
5,112,371
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Depends on the laws in Texas.

Apr 09, 2019 07:27 AM
Rainmaker
2,221,377
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Great question for a real estate attorney in your area Tim.

Apr 09, 2019 04:56 PM
Rainmaker
759,485
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

An HOA lien can prevent the seller from presenting marketable title. 

Apr 09, 2019 01:08 PM
Ambassador
6,417,184
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

That should be addressed in their contract.

Apr 09, 2019 01:58 PM
Rainmaker
469,510
Dan & Laurie Pittsenbarger Team
Keller Williams Western Realty - Bellingham, WA
Lakeside & Coastal Single Family Homes

They can do lots of things. Most likely they should get an attorney and they may want to pay any back taxes or HOA dues to protect their lien position. Hopefully their security instrument (whatever that may be) has some teeth in it for such a situation.

Apr 09, 2019 07:51 AM
Ambassador
2,187,587
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Only a Texas real estate attorney can answer that AFTER carefully reviewing the contract of the sale.   Remember, not all attorneys specialize in real estate law.  Be sure to hire an attorney that specializes in Texas real estate.

Apr 09, 2019 07:47 AM
Rainmaker
1,092,947
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

You question is pretty vague and ambiguous. You need to talk with a Texas attorney who specializes in real estate and can review your situation in it entirety. What you are asking is not something we are qualified to answer.

Apr 09, 2019 09:57 PM
Ambassador
5,253,385
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I'm not in Texas so, I can only advise to seek counsel from a Texas real estate attorney.

Apr 09, 2019 07:48 PM
Rainmaker
5,583,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

call a real estate attorney.... 

Apr 09, 2019 12:54 PM
Rainmaker
7,862,645
Roy Kelley
Retired - Gaithersburg, MD

You follow the terms of the agreements.

Apr 09, 2019 09:15 AM
Rainmaker
556,536
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

It depends on how the finance paperwork was drawn up. Time to lawyer up.

Apr 09, 2019 09:11 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Wayne Martin has this one!

Apr 09, 2019 08:56 AM
Rainmaker
1,506,013
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Best to speak to an attorney in your state.  I know what happens in California and there are quite a few different things that happen for property taxes versus hoa dues.

Apr 09, 2019 08:13 AM
Rainer
52,597
Krista Jenkins, REALTOR®
klm Real Estate - Lubbock, TX
Residential sales and retail & office leasing

The owner/lien holder could call his/her attorney. That would be the first step.

Apr 09, 2019 08:07 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Get an attorney, and know Texas laws.

Apr 09, 2019 08:04 AM
Rainmaker
1,241,754
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

You mean seller default?  I do not get it.

Apr 09, 2019 06:47 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I would foreclose of the buyer was in default, however use a real estate lawyer to do it right. 

Apr 10, 2019 05:44 AM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Great answers. 

Jun 18, 2019 04:08 PM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

An attorney will have an asnwer.

Jun 18, 2019 03:40 PM
Rainmaker
5,877,309
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would contact a good real estate attorney.

Apr 24, 2019 02:38 PM
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