All Forum Posts by: Hannah Williams

My current tenant has been living in my rental for 2 years. She has expressed interest in purchasing it off of a land contract. I'm a beginner when it comes to land contracts. Have you had any success with land contracts?

I would like to order a FOIA report to see what possible title issues I could run into with the purchase of a property I'm interested in. I would also like to order another report on a property I already own. The county asks for what specific documents I want to order, and I'm not sure what to say. Should I be asking for any/all liens or judgments on the property? Should I ask for a title commitment? I'm ordering these documents from Wayne County, MI to be specific. 

Thank you in advance for any advice! 

I purchased a home that has a badly cracked front concrete and brick porch. It will need to be replaced entirely, and is around 10' X 10'. The concrete stairs also need to be replaced. I got a quote for $4,000 to completely replace and rebuild the porch. I'm wondering if this is a good price, since this isn't something I have done before. 

The policy says they have to clear title because a Discharge of Mortgage was never recorded and/or it was never discharged.

I purchased a home in a tax foreclosure a year and a half ago. I now have a sales contract on the table, and we are currently waiting on title work. I was just informed that there is an issue with title. I called the title company to see what I should do, and they said they are not responsible for clearing title. Um, isn't that what a title company DOES? Now, we're at a stand-still with this contract. I'm going to try to figure it out myself (I used to work at a title company), but the title company is telling me I need to hire an attorney. There's no money in the agreed sale price for that.

My real question is, isn't a title company responsible for clearing title? 

I purchased a home in a tax foreclosure a year and a half ago. I now have a sales contract on the table, and we are currently waiting on title work. I was just informed that there is an issue with title because the county didn't give proper notice to the mortgage company upon issuing the quit claim deed to me before auctioning it off. I called the title company to see what I should do, and they said they are not responsible for clearing title. Um, isn't that what a title company DOES? Now, we're at a stand-still with this contract. I'm going to try to figure it out myself (I used to work at a title company), but the title company is telling me I need to hire an attorney. There's no money in the agreed sale price for that. 

My real question is, isn't a title company responsible for clearing title? 

My strategy is to purchase distressed properties and renovate them to get them ready to be rented. Then I rent them and hold on to them. I have had success in this, but I'm considering buying property out of state for better return on investment. What should I know about before taking the step to purchase out of state? (I will have to get a property manager.)

Thanks Parker. I will speak with an attorney, very good advice. 

Someone is interested in one of my properties that is listed for sale, but they want to do a land contract. I've never done a land contract before. I have some questions about them:

1) What are the typical terms of the contract in Detroit, MI? How much is the down payment and how much per month (as a percentage, in general)?

2) Who obtains insurance on the property, me or the tenant?

3) Are there any legalities I should be concerned about that I might not be aware of when doing a land contract? 

Any help would be so appreciated!

Thank you!

I just found out a tenant of mine was incarcerated. I've never run into this situation in the past. I posted a notice for back rent, but am I still obligated to go through with eviction proceedings? Is there any way around spending thousands to evict?