NBC-2 reports on unrecorded liens, a surprise post-closing challenge many buyers of foreclosed properties have faced in Cape Coral.
The current policy in Cape Coral is to not file liens for things like overdue water bills if the amount is less than $500. In the scenario presented in the story, the buyer of a foreclosed building in Cape Coral received two water bills for over $800 that had not been recorded as a lien against the property. Cape Coral’s Mayor John Sullivan vows to fix this issue so that buyers of Cape Coral foreclosures will not be surprised after closing.
A good Realtor representing the buyer would know to call the City of Cape Coral to check on any unrecorded liens.
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Lots of good deals in Cape Coral…but you’ve got to do your due diligence in an economy like this!