What? I think you’re in the wrong place.

You had better do a lot more digging on the"To my knowledge, there is no other liens on the property and no mortgage on one of them. The other one has a open end mortgage taken out in 2003, for $ 100,000. And Matures in 2043"
Case number 1, how did you determine that there are no liens or a mortgage?
Case number 2, a 40 year mortgage sounds a little out of the norm.

Usually, foreclosed homes are a nightmare.

There might be others on here who will know better.

I like you area, my family used to have a condo in Stuart.

There was this restaurant/bar a little north of Staurt that had the best blackened grouper sandwich. I can't remember the name of the place, but that had pool tables...I want to say it's called Jensen Ale House.

I believe, in simplest terms, if you purchase a foreclosed home from the mortgage company you do not owe the balance on a mortgage. That is the point of foreclosure. The entity servicing the debt would like to recoup as much of that as possible and can only do so by selling the asset. Outstanding HOA dues, loans attached to the property, etc. I would image are a separate liability.

BTW - homes that are in foreclosure due to unpaid HOA fees rarely actually end up going through foreclosure.

While not a foreclosure, I purchased a "short sale" home several years ago. It's probably the same with foreclosure, but once you get past any realtor that may be involved and negotiate the actual price of purchase with the bank(S) involved, all you owe is that purchase price agreed between you and the bank(S). It's a brand new loan generated (unless you pay with cash), and has nothing to do with the previous owners money owed. The previous owner would then still be liable for whatever they owed on the house, which is no longer in their possession, or whatever they can negotiate down with the bank(S) them selves.

You should do a TON more research IMHO.

There are multiple types of foreclosures and every property and county will be different.
Lots of buyers so dont expect screaming deals, but rather "deals with risk"
Do you research and you can mitigate that risk to some degree.

I have purchased one foreclosure in the past and would do it again.
The old guy that owned the property went to jail for the remainder of his life and let it go to the bank. He had a son that was not interested int he property or timing of dealing with it and dad had refinanced just a few years before jail (he knew he was going is my best guess).
It was a long drawn out process where old guy was long gone, bank took it back over, bank resold to another bank, and then it came up for foreclosure auction. House went through some deferred upkeep in that 18-20 month time span.

It did not sell for reserve price at auction (typical from my research for online clearing house of bank owned).
Not typical if a county run auction.

You should do everything you can to have eyes on and inside the house before bidding. The more you can know about condition, the better!
If there is a current tenant then pay $ to inspect in advance. If it is vacant then do what you can to legally check it out.

I personally was lucky enough to see the son cleaning out some furniture one day and got to inspect the property so I knew much more about condition than everyone else.

You will need full purchase price on hand once you win. Typically payment in full is due that day or within 48hr depending on auction.
You will need to secure the property immediately upon ownership and be ready for so much more than you ever planned.

Buying a foreclosure is way more leg work up front, but it can pay off.

Fair warning that I know others that have taken a huge bath. Things like rotten subfloors from slow leaking toilets in vacant homes over the past 2 years.

If you are serious, then the very first thing I suggest is attending an auciton where you have no $ and no plan/ability to purchase. Spend the time watching how it all happens. It will help you remove any emotion, have knowledge, and the county people will be happy to answer questions when you tell them you are interested but nit buying currently. Just trying to learn.

Do some research on what an HOA foreclosure really means in FL.

Typically it just means the process for putting a lien on the property, not to take possession. An HOA lien is usually secondary to any financing lien by a bank, but would need to be removed before transferring ownership of the property.

The lien is transferable, and can be sold like selling debts to a collector. Is this what you are seeing on these properties?

in short... nothing

longer answer, you... If you are buying an occupied property, then be prepared that anything can and will happen.
I personally would rather make contact with an occupied owner that is approaching foreclosure and help them to get out of a bad situation and get me into the house safely. We are all humans here and anyone getting foreclosed on has likely just had some bad luck and could use a hand.

While I have not done so yet, I would research and then reach out to someone in the midst of foreclosure to try and see if you can help each other out.
Best case example:
200k value of home
Owner owes 170k and is 6 months behind so owes an additional 7k in back due and late fees.
You make contact and agree to take over mortgage, pay the back fees, and help get them moved into a new place to rent/live.
I have read many stories of this working in the past.
You get the house for 180k in total so 10% under market.
They get out without losing it all and a lifetime hit on credit history.
The house it not trashed.

You could also negotiate renting to them. Risky since they already cant make home payments, but possible.

Stay away from investing In things you have no knowledge about ...there are tons of flippers in your area that destroy you ..it’s never a good idea to invest in something your not familiar with ..if you have cash now ..hold onto it ..things may get worse and you should hold onto your liquidity

I'm a member of our HOA board and at least here in my area, if the homeowner goes in to bankruptcy all action related to overdue HOA fees stops

I bought my house from short sale 2 years after it was foreclosed on. Just make sure the title is free and clear of all liens and debts, mine had 900k and 300k liens against it from previous owner. So it had to be cleared from 2 different mortgage companies before moving forward and took the 2 mortgage companys 2 years to decide who got what, second mortgage company lost there ass on it. The lady pulled a fast one that owned it and when she had the original mortgage down to 300k took the second lien of 900k in 2007 before housing market crash and bought a second house at 850k and went bankrupt and kept the 850k free and clear, scam artist. What im really trying to get at is just get a title worker to make sure the titles are clear able and your good.

i bought a foreclosured home and live in it. banks don't care about anything other than $, it will be turn into a bid war for the best offer. Do your home inspections and see whether or not it's worth it. pretty simple.

All I know is she bought house with mortgage at 450k for the house then paid it down to 300k and had another mortgage company take a lien against the house at 900k. She must of known somebody at bank like a inside job. My title broker couldn't believe anybody would have done that unless it was a planned out scam. So when I was researching the house I found her name and new address and found out when she bought the new 850k house with no mortgage, you could put the dates together when she bought the new 850k house and when she got the 900k lien and see it on paper that the dates all matched. Then i found she filed bankrupt not long after my house went into foreclosure. Shady people out there man so watch your ass!