Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 27

As soon as you purchase a property, either from the homeowners or at an auction, you become the official owner of the property, even though you may not be able to take immediate possession of it. As owner, you’re in charge of insuring the property and paying property taxes. Be sure to do the following:

 Call your insurance agent to obtain a homeowner’s insurance policy for the property.

 Pay the property taxes as soon as they’re due. (You may need to pay back taxes when you purchase the property.)DON’T FORGET THE INSURANCEAs soon as you buy a foreclosure, even if you can’t take possession of it right away, call your insurance agent and buy a homeowner’s insurance policy for the property.I once purchased for $75,000 a house that was worth $150,000. By the time I took possession of the property, the previous owners had taken the carpeting, the entire kitchen (including the sink), the bathroom fixtures, the furnace, the central air conditioning unit, the doors, and everything else they could carry out, hoping to stick it to the next owners. I turned the claim in to my insurance carrier, received $25,000, and sold the house to another investor for $100,000. After expenses and holding costs, I walked away with about $35,000.The investor who bought the property decided to rent it instead of selling right away. He refinanced to pull about $50,000 equity out of the property, used the equity to cover repair and renovation costs, and still had a little money left over. Then he rented the property to cover his mortgage payments.

 File an affidavit proving that you paid the insurance and property taxes. If the homeowners decide to redeem the property, an affidavit enables you to recover any taxes and insurance payments you made during the redemption period.

See Chapter 16 for details concerning your responsibilities as a homeowner during the redemption period.