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Updated almost 12 years ago on . Most recent reply

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5
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Joi Maxey
  • Real Estate Investor
  • Orlando, FL
0
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5
Posts

Question on a potential Title Issue

Joi Maxey
  • Real Estate Investor
  • Orlando, FL
Posted

Well after a hiatus from trying to do Wholesaling 3 years ago, I am trying to get back on the horse...I am I guess still a 'newbie', nevertheless I have a question:

I have a an Absentee owner, who wants to get rid of her 2/1 SFR property that has been vacant for 2 years. There are back taxes owed of $4,900.00. The home is in a rental area that rents from $500 - $550/mo. There is about $15k in work needed and she only wants $3,500.00 in her pocket, the ARV is around $45k-$48k. The issue is, there is another person on the Mortgage Deed along with the Seller. I asked her if he woulld be able to sign off on the contract? She states that the individual is a "crack head" (her exact words) and she hasn't seen this person in years. My question is, will this preclude me from doing this deal since the unreachable party on the Deed wouldn't be able to sign the contract?

Do I have any alternatives in this situation?

I only have exactly 12 days to get this deal done if it is a viable one as it will be Auctioned off for the back taxes.

Any feedback would be greatly appreciated.

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