Updated over 10 years ago on . Most recent reply
Would you buy? No clear title..
Is there ever a situation where a deal is so good you would buy it without a clear title?
Heres the situation- $50k duplex, needs $5k repairs, $1400 rent, ARV $90K+. Cash purchase.
Foreclosure and the units towards the front "land lock" the units for sale. Also, the sewage comes from an offsite pump station not owned by the complex. Legal proceedings are currently taking place to square everything up, but the process is moving extremely slow. I spoke to one attorney involved and he thinks they will eventually get it straight but there is no clear time table. Does the price justify all the issues?? ARV is based on having clear title.