All Forum Posts by: Chris K.

@Thomas C Veatch

When they say "licensed property manager," they are really talking about law at the state/commonwealth level. In Pennsylvania, only brokers and real-estate salesperson under a broker can manage a property. There are exceptions to that rule (e.g. if you self manage). But that's going to be the case for most people. 

Now the rub is that sometimes the municipality doesn't really care if you have a "property manager" in the same sense. What they want is just some living human being that they can reach to see where the owner is. In such cases, you could probably get by without having a proper property manager. 

On the other hand, some municipalities do really care that you have an actual property manager. Wilkes-Barre was all-in on this for a while. I'm not sure if they still are. But good to check. 

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.

@Kevin Sobilo

I vaguely recall Scranton deciding to make it 2 units. I honestly can't remember if it passed but @Teresa Ludlow suggests that it did. I wouldn't be surprised.

Do you know @Adam Guiffrida or @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.

@Jerry Brecko

What does the contract say? It should specify what the possible remedies are. 

Assuming it was your average sales agreement, it would probably allow the buyer to bring an action for specific performance. The big question then becomes whether you can get attorney's fees as the buyer if you win. If so, you have a lot more leverage since --- depending on any current mortgages and liens --- the buyer could use the seller's equity in the property to pay off the attorney's fees. 

The other two posters do make a good point: litigation is expensive. It's hard to give any meaningful numbers, but most standard litigation will probably cost between $5k even if you get default judgments. $10k or more depending on the type of action and number of other fees you have to pay. If you have a contested case, there really is no ceiling. Discovery costs can easily get into five to six figures without even trying.  

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.

@Ricky Si

In Pennsylvania, the foreclosing lawyers often conduct a title search on the property during the foreclosure process. As a former lawyer for national and regional banks, it's something I had to do hundreds --- if not thousand --- of times. Now getting the foreclosing lawyer to share that with you is a different matter. But they exist. 

For IRS Tax Liens, it sounds like you are not looking at the correct places. In most parts of Pennsylvania, you should be looking for a Notice of Lien at the prothonotary. Also note that the IRS Tax Lien does not trump a senior mortgage as long as the mortgagee took the correct steps during the foreclosure process. 

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.

Basically what @Tom Gimer said. In Pennsylvania, you can sometimes get the title report from the law firm that handles the foreclosure since they often need to do a title search as part of the foreclosure process. But as as practical matter, you will need to learn how to DIY 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.

@Emmanuel Longo

What kind of property? SFR or small multi-family? 5 to 20 units? 20 to 50 units? 50 unit plus? Such info may help other give good recommendation. Most realtor/broker tend to specialize eventually.

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.

@Jerry Brecko

What state is this property in? State law jurisdiction can matter of these issues. This is especially true when you are dealing with residential transactions. Even in commercial transactions, these can become an  issue. Note that there's a concept called "illusory promises" that all 50 states recognize to some extent. So having a "get out of jail free" contingency can sometimes bite you back if you are not careful. 

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.

@Thomas C Veatch

How big of a property? Are you buying the materials or do you want your contractors to do it? 

Property manager wise, talk to @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.

@Adam M.

That is Jack Bogle - founder of Vanguard. :) 

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.

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