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All Forum Posts by: Brian K.

Brian K. has started 5 posts and replied 11 times.

Your resolve in waiting 8 months is impressive, @Ryan D.. Why did it sell for so little, compared to the ARV?

AirDNA is not very accurate in my experience.

AirDNA is not very accurate in my experience.

Great advice. I hadn't checked auction.com in a little while and it had since been canceled. Thanks.

A house will be sold at a trustee's sale this Tuesday. The Georgia State Dept of Revenue has filed two notices titled "State Tax Execution" against the owner and her house. One covers 2015, another covers 2013 and 2014. I've been to the Georgia Tax Center to look up the rest, but would need her SSN or tax identification number. I'd like to know the amount owed for other years. Is that possible?

Post: Very short bridge loan needed

Brian K.Posted
  • Posts 11
  • Votes 0

I'm looking to secure a very short term loan of $250k wired to my bank today or tomorrow. I will use the funds to buy at a Texas trustee's sale this Tuesday.

I need this last-minute loan because two closings on houses that I own that were to happen today have been pushed back, one to Tuesday and the other to Friday of next week. The sales prices of the houses are $247k and $328k, and I own them free and clear.

I recently sold a house and my bank, BB&T, wouldn't let me create a cashier's check from the wired funds that same day (and is still impeding things two business days later) because:

  • I move all the time and don't have a permanent address
  • They claimed not to have a record of me making similar requests (I'd made at least 5 in the past 1.5 years)
  • It was a large amount
  • The title company could withdraw the wire after BB&T had given me the cashier's check

They asked me stupid questions to authenticate me like, "How much money did you initially deposit when you opened your account 1.5 years ago?" which I couldn't answer. Do you know of a bank that would've done a better job in my situation, or is generally quick in granting access to wired funds? I'd think if BB&T had optional steps in their process, such as a retinal scanning, they could decrease risk and serve customers better.

@Greg H. she had only received a receipt at the auction, she, the grantee, had not received an executed deed.

@Greg H., does this not contradict you? The deed must be delivered, not merely executed: "There is no requirement that a deed be recorded in the county clerk’s real property records in order to be valid—only that it be executed and delivered to the grantee (this may be done privately), at which time the transfer is fully effective between the grantor (seller) and the grantee (buyer). As between a grantor and grantee, deeds are valid even without a valid acknowledgement. Haile v. Holtzclaw, 414 S.W.2d 916, 928 (Tex. 1967)." -http://www.lonestarlandlaw.com/deeds_in_texas.html

I've seen a house that's scheduled for foreclosure at a trustee's auction in Texas next month and has a Master brand key safe on the door, but is still being lived in. Do you know what the purpose of the key safe is?

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