All Forum Posts by: David Wurzel

Should he record an Affidavit and Memorandum of Agreement with the court, now?

So, the PR and the buyer enter into a Purchase Agreement.  The court reviews it to make sure it's close to being reasonable.  Nothing like selling it for $1.00 or something.  (Usually a good rule of thumb is to keep it at least close to the tax assessment if you want a deal and court approval.)  THEN record the Affidavit and Memorandum of Agreement with the court.  Remember, Purchase Agreements entered into by the PR prior to the PR being appointed is invalid because they have no legal right to sell anything.

Your 'sole heir' should be appointed the PR long before the HOA foreclosure gets near being finished. So no need to worry about paying off the HOA. Just do that when you close on the property itself. And the PR can sell the property before the probate closes. Once appointed PR and with Letters of Administration they can enter into a contract to sell the property. As with any contract, once entered into, it's extremely hard to break. You can always record an Affidavit and Memorandum of Agreement with the court that could cloud the title if not released.

Sorry forgot
@Eliott Elias
@Kris Kempe

I'm going to guess:
How much do they owe?

How much do they want?

The foreclosure has been filed.  The owner is 8 months behind on payments.  The loan has been accelerated.  There's no equity to be had.  The house will soon to be sold at auction.  What's your strategy to help out these owners and how?

@Jerryll Noorden

Thank you so much.  I'm just finishing watching you at BPCON2021.  Just really great info!!!  Your thought processes are awesome and so logically thought out.  Finally there's someone who looked at the data and said, "This shotgun approach and the returns on DMM, cold calls, and texting is laughable."  What you teach makes so much sense.

@Jerryll Noorden

Apologies.  After further research found your post from 4 months ago.  Will read through ALL your posts and if I have further questions will DM.

@Jerryll Noorden

I've been following your logic and what you say certainly makes a lot of sense.  Congrats!!  

Challenge:

You state: 
or you can say.. wait that actually makes sense. I wonder how he does it, and I will happily tell you right here on this forum 100% free for no cost.

So, without links to anything, without vague references, without appeals to subscribe or purchase and with specificity and preferably in chronological, if not, then just logically, the order in which a company would build a system based on human psychology and behavior so that when someone actually becomes motivated they are intercepted into a funnel because they behaved in a certain way when they became motivated.

@Kerry Baird @Doug Smith
The HELOC will be taken out on a primary residency that is paid off. The line of credit then to be used for flipping other properties.