All Forum Posts by: Michael Paul
Michael Paul has started 5 posts and replied 13 times.
Post: contractor on title in Washington state
- Wholesaler
- Marysville, WA
- Posts 13
- Votes 0
As it currently stands, RCW 18.27 requires a contractor to be on title to fix and flip a property. We have a contractor that we are partnering with on a flip and I have been told that a Tenancy in Common agreement will satisfy this requirement provided it is stated on the title. My question is at what point does the contractor need to be added to the title? At closing? After closing but prior to work beginning?(Can we secure/purchase the property and then add the contractor?). Any thoughts..
Post: private money
- Wholesaler
- Marysville, WA
- Posts 13
- Votes 0
If you have family members who want to invest in your endeavors, what kind of contracts
do you need? Do they need to be on title? Do you use a tenancy in common agreement? If
it's just capital Would a promissory note or some kind of generic private money loan
contract be more advisable?
Post: Deceased owner
- Wholesaler
- Marysville, WA
- Posts 13
- Votes 0
Okay, anyone, I have located a vacant house and my search has confirmed that the owner and his only relative are both deceased. The property is two years behind on taxes and counting. Does the state take possession at some time or is there a legal way to pursue ownership? If it goes into tax foreclosure would the county be able to auction it then? I of course would prefer to secure the property before a tax auction would occur.