FAQ — AVM Enterprises

Question 1

What are foreclosure surplus funds (overages)?

Accepted Answer

When a foreclosed property sells at auction for more than the total amount owed on the mortgage and any other liens, the extra money is called a surplus or overage. That money legally belongs to the former property owner — not the lender, not the county. Unfortunately, many people never know it exists, and unclaimed funds are eventually absorbed by the state.

Question 2

How much money could I be owed?

Accepted Answer

Surplus amounts vary widely depending on the property's auction sale price and the outstanding debt. We have seen overages ranging from a few hundred dollars to well over $100,000. The only way to know your specific amount is to research your case — which we do for free before you commit to anything.

Question 3

Why didn't I know this money existed?

Accepted Answer

Courts and counties are required to notify former owners, but notices are often sent to the foreclosed address (where you no longer live), get lost in the mail, or are buried in legal language that is easy to overlook. Many people move on after a foreclosure without ever learning a surplus was generated.

Question 4

Is this money really mine to claim?

Accepted Answer

Yes — provided you were the property owner at the time of foreclosure, or a qualifying heir or lienholder. Surplus funds are not a gift or a government program; they are your equity that was left over after the debt was satisfied. The law protects your right to claim them.

Question 5

Who is eligible to claim surplus funds?

Accepted Answer

Former property owners are the primary claimants. Heirs and estate representatives may claim on behalf of a deceased owner. Surviving spouses, junior lienholders (such as second mortgage holders or HOAs), and certain judgment creditors may also have a right to a portion of the surplus depending on state law.

Question 6

What if the original owner has passed away?

Accepted Answer

Heirs and estate representatives can still file a claim. The process typically requires probate documentation or letters of administration to establish your legal right to the funds. We guide families through this process and work with estate attorneys when needed.

Question 7

Can I still claim if the foreclosure happened years ago?

Accepted Answer

Possibly — but time is critical. Each state has a statute of limitations on surplus fund claims, ranging from 1 year to 5 years or more after the foreclosure sale. Once that window closes, the funds are forfeited to the state permanently. Contact us as soon as possible so we can check your deadline.

Question 8

What if I had a second mortgage or other liens on the property?

Accepted Answer

Junior lienholders (second mortgages, HOA liens, judgment liens) may have a claim to a portion of the surplus before the former owner receives the remainder. We research the full lien history of your property to determine the net amount you are entitled to.

Question 9

What does the recovery process look like?

Accepted Answer

We start with a free case evaluation — we research your property, confirm a surplus exists, and calculate the estimated amount. If we find funds, we prepare and file all required legal documents on your behalf, communicate with the court or trustee, and follow up until the funds are disbursed. You receive your check once the claim is approved.

Question 10

How long does the process take?

Accepted Answer

Timelines vary by state and court workload, but most claims are resolved within 60 to 180 days after filing. Some straightforward cases close faster; complex cases involving multiple heirs or disputed liens can take longer. We keep you updated throughout the entire process.

Question 11

Do I need to appear in court or travel anywhere?

Accepted Answer

In most cases, no. We handle all filings, correspondence, and court interactions on your behalf. You may need to sign and notarize documents, which can typically be done locally or through a mobile notary. We will walk you through exactly what is needed.

Question 12

What documents will I need to provide?

Accepted Answer

Typically: a government-issued photo ID, proof of ownership at the time of foreclosure (such as a prior deed or mortgage statement), and any relevant estate documents if you are claiming as an heir. We will provide you with a complete checklist once we confirm your case.

Question 13

How much does it cost to work with AVM Enterprises?

Accepted Answer

Nothing upfront — ever. We work exclusively on a contingency basis, meaning we only get paid when you get paid. Our fee is a percentage of the recovered amount, agreed upon before we begin. If we do not recover funds for you, you owe us nothing.

Question 14

What percentage do you charge?

Accepted Answer

Our contingency fee varies depending on the complexity of the case, the state, and the amount involved. We discuss and agree on the exact percentage with you before any work begins — there are no hidden fees or surprise deductions.

Question 15

Are there any hidden costs or upfront fees?

Accepted Answer

No. We cover all filing fees, research costs, and administrative expenses as part of our contingency arrangement. You will never be asked to pay anything out of pocket before or during the recovery process.

Question 16

What happens if the claim is denied or unsuccessful?

Accepted Answer

If we are unable to recover funds for any reason — whether the claim is denied, the deadline has passed, or the surplus is less than expected — you owe us nothing. We absorb the cost of the work. Our success is tied directly to yours.

Question 17

Which states do you serve?

Accepted Answer

We currently serve claimants in Florida, South Carolina, Ohio, Nevada, Tennessee, Pennsylvania, and Georgia. Each state has its own surplus fund statutes, claim procedures, and deadlines — our team is experienced in all seven.

Question 18

How do state deadlines differ?

Accepted Answer

Claim windows vary significantly: Florida allows up to 2 years, Ohio up to 3 years, Nevada up to 1 year, South Carolina up to 5 years, Tennessee up to 2 years, Pennsylvania up to 2 years, and Georgia up to 5 years from the date of the foreclosure sale. These deadlines are strict — missing them forfeits your right to the funds permanently.

Question 19

My foreclosure happened in a state you don't serve. Can you still help?

Accepted Answer

At this time we are only licensed and experienced to operate in our seven service states. If your foreclosure occurred elsewhere, we recommend contacting a surplus fund recovery specialist or real estate attorney licensed in that state.

Question 20

How will I receive my funds?

Accepted Answer

Once the court or trustee approves the claim and releases the funds, you will receive a check or direct deposit for your net share after our contingency fee is deducted. We confirm the disbursement method with you in advance.

Question 21

Are surplus funds taxable?

Accepted Answer

Surplus funds may be considered taxable income depending on your individual tax situation. We strongly recommend consulting a tax professional or CPA regarding how recovered funds should be reported. AVM Enterprises does not provide tax advice.

Question 22

What if someone else has already filed a claim on my funds?

Accepted Answer

This does happen — third parties sometimes file claims on surplus funds before the rightful owner is aware. If we discover a competing claim, we work to challenge it and protect your right to the funds. Acting quickly is the best defense against this scenario.

Your Questions, Answered

Understanding Surplus Funds

Eligibility

The Claim Process

Fees & Our Contingency Model

State-Specific Questions

After the Claim

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