All Forum Posts by: Chris K.

@Eric Eickhof

@Ronald Rohde is your guy!

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Carla Cooper

It depends on the situation. But as a general rule, I would own real estate using an LLC from that particular state. So if you want to purchase a Pennsylvania property, I would use a PA LLC. The NJ LLC could own the PA LLC if you see the need for it.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Jared Hettler

Not sure. Can't say I am familiar with that term in this particular context. Could be a local terminology. 

As for why they don't "snatch" up judicial sales, it's because they are one of the riskiest way to buy real estate in Pennsylvania. If there is a defect during the sale process (which is common), the court will protect everyone else before the buyer. The price thus reflects this risk/uncertainty. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Jared Hettler

In Pennsylvania, the two main tax sales you deal with are upset sales and judicial sales. Upset sales only divest the ownership of the property. So you buy everything subject to all other interests. Judicial sales can theoretically divest all other interests in the property. In practice, that doesn't always happen. 

Repository sales refer to properties that do not sell at a judicial sale. Properties that do not sell at an upset sale can be purchased at what the statute calls a "Private Sale." 

Again, I would stress that judicial sales (and by extension repository sales) can divest the other liens. But the fact that they can doesn't mean that THEY WILL. 

I'm not sure what you are referring to when you say commissioner's sale. The tax sale laws have a mechanism where county commissioners can purchase the property at a tax sale. After such sale, the commissioners could sell it. But I haven't really dealt with that in the past. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Matt Snyder

@Dave Foster is your man!

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Steve Babiak

Great article! 

My only qualm about the article is about rating from Martindale. It's an easy system to game if you know how to do it.

Also the percentages are a bit a deceptive because you need to pay to be listed on there. Before the internet, Martindale was THE PLACE to advertise. So it really meant something when you had an AV or BV rating. 

That's no longer the case. It still has some clout amongst older lawyers. It has basically none amongst the younger generation. For example, a friend of mine is partner at a large law firm with around $5 million of portal business. He is one of the best attorneys to hire for certain legal matters. 

On Martindale, he is unrated because he doesn't pay the fees. 

Now there are awards that are actually impressive. Problem is that most attorneys that appear on those lists will charge around $750 to $1,000 an hour at minimum. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Mike Bonomo

Second vote for @Marc Winter!

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Chris Harper

There's no website that can show you all the Lis Pendens filed in Pennsylvania. You need to instead go to each county and try to find it that way. Note that some counties don't have online records --- so you may need to rely on services like Landex. 

Generally speaking, you will find Lis Pendens in the Court of Common Pleas and also the Recorder of Deeds. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Harry Brodsky

Pennsylvania law does not require any of the members to be Pennsylvania residents. You do need a registered office or a registered agent in Pennsylvania. 

Just note that unlike single member LLCs, it's generally a terrible idea to DIY a multi-member LLC.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

@Jared Hettler

The reason you need a quiet title is that you cannot get a title insurance. If you cannot get a title insurance, you do not have a marketable title. If you do not have a marketable title, you cannot sell it at its maximum value nor can you get a lender to lend on the property. 

If you can find a $200k property for $5k, then sure --- someone will buy it from you without a marketable title. But the chances of you getting such a deal is very unlikely. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.