Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago on . Most recent reply
Leander Loan Default in Atlanta Ga
Hello all. The borrower defaulted on a loan that I'm involved in. I'm the only investor and I have the security deed stating I will have rights to the property if the borrower defaults. I also have the buyer's agreement. The house isn't fit to live in. What is my next step? I've hired a real estate attorney to ensure the title gets recorded in my name.
I'm not sure what to do with the property after the title transfer is finalized. Please advise. Thanks in advance 😊
Most Popular Reply
Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,510
- Votes |
- 23,418
- Posts
Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Sounds like a straight up foreclosure. You may want to insure the property, and make sure it doesn't go to a tax sale.