All Forum Posts by: Arlan Potter

Don't pay too much.

99.9% real estate

I got to a closing(for a house I was buying) and the Title company asked for the wife's signature for the deed. She got ready to sign and realized the name on the deed was not hers.

The story went - She married the guy 8 years earlier.  But for some reason his prior divorce was never recorded at the courthouse so technically for real estate purposes he was still married to the earlier wife.

Seller said that is no big deal because when they got the divorce that wasn't recorded she signed a quitclaim for the house to him.

Great.

But. It turned out that after she filed the quit claim deed, 8 years ago, the title company found out that the family trust that had sold the house to them had made an errant transfer(wrong trust name) and the transfer to the seller and his wife had to be redone. This was after her quit claim deed therefore making her quit claim worthless.

Ok, now the owner has to find a woman he divorced 8 years ago and has no clue where she is at.

It took a few months, but my attorney was able to locate her and she did sign a new quit claim to the previous husband(maybe still married to) and we got the deal done.

Whew!

Get this.  A few months later the seller died. What a mess that would have been for probate.

Been trying for days to get my password reset.

It is becoming very apparent to me that I can no longer remember all my passwords. Plus all my old ones are no longer acceptable because they are too short or not crazy enough(caps, hyphens, etc.) I just want my old standby that I used for 10 years on all my locations. simple.   Wa, Wa, Wa.

Don't get a partner. You may very well lose a friend. In fact don't hire a friend. Don't hire family. Dont invest with family. 

Think long and hard first.

Pessimistic, yes.     It just could end bad.

I think the lawsuit problem was with leaks at the joints and crimp rings. In Mobile homes. I have been drinking our well water through Polybutelene for 22 years. Tastes like water. No issues.  Like I said before, pex and poly are the same outside diameter. Poly has thinner walls.  I wouldn't worry about it. And changing to PEX is fairly simple.

What about "Lead Paint DIsclosure"  for houses built before 1978

I like the vacation home in the mountains, I bought a few years back. Of course we bought it distressed for a steal. We use it a few times a year, rent it out a lot of the year. It actually makes a profit.

Polybutalene was a for-runner of PEX   Close to the same as pex but with thinner walls.

I have had in my home since I built it in 1992. Works fine. They sell fittings to change to PEX from the Poly if you need to add-on(which I have done). The  OD is the same as Pex.

Wouldn't bother me

You need the owner to carry 20% on a 5 year AM. A bank to cover 70% on a 20 year AM and you to have 10% cash.  The deal looks pretty good numbers wise.