All Forum Posts by: Account Closed

@Sandy Reddy

I do not think you will have an IRS lien after the sale, as long as they were served notice and the lien was recorded after the mortgage in default.  You may or may not have to pay the back property taxes.  Check with the sheriff to see if they are part of the costs.

@Wayne Brooks

I guess to that I'd say I'd rather be luck than good.  Even with 2 sets of eyes thing get missed.   Good story.  

@Steve Vaughan

Very valuable information.  Thanks.   

@Steve Vaughan

I was just talking to someone about title searches and cross-collateralization yesterday.  So how does that look on the land records?  I would expect a search under the land records could be tricky.  Not only are you looking for the history on the house in question, but you will also have to look at other mortgages held under the persons name to see if the house shows up in those instruments a collateral.  Yes?

I saw Armando Monelongo do it on TV;)

@Sandy Uhlmann

I am out of my area on this, but maybe the current owner could negotiate the balance on the second mortgage down to an agreeable amount.  Lets face it.  If the first forecloses, the second get nothing in most cases.  

@Account Closed

I would have to agree with the seller.  If there was contamination he would be in a world of hurt, and would have to disclose it.  Even if I was almost certain there was no issue I would not do it, nor would my attorney want me to.  Why take the chance?  

If I was in his shoes I would remove the tank and find a new buyer.  Was the tank leaking.  You can tell pretty easily when a tank has been leaking because they rust and the lower part of the tank feels oily.  

Maybe you could write up your purchase agreement, contingent on you being there when the tank is removed and being satisfied with the opinion from the contractor removing the tank.  That way, any doubts you can walk.  I just would not read too much into the seller not wanting the soil test.

@Alfredo O.

Way to go.  Sounds like you are on your way.

I cant find it.  Many folks jumped in and shared the online courses they took.  Was within the last week as I recall.

Thanks.

@Account Closed

You may want to start a new post, not because I feel imposed on being the OP;).  I would think you will get a better response with a new post, and I too would like to hear those stories.