All Forum Posts by: Sriv Nava
Sriv Nava has started 1 posts and replied 34 times.
Post: mortgage and tax lien foreclosures overages.
- Chapel Hill, NC
- Posts 34
- Votes 25
State specific statutes stipulate how to handle surplus. For example in NC, it is N.C.G.S. 1-339.71
https://robanglelaw.com/foreclosures-what-happens-to-the-surplus-funds
https://www.irs.gov/irm/part5/irm_05-012-005r#idm140437610074368 (search on "guaranteed bidder")
There may be an opportunity here. Since there are so many IRS scams, whatever you do, work with an attorney for advice and follow through.
Post: Courthouse step purchase but 2nd lien on title
- Chapel Hill, NC
- Posts 34
- Votes 25
I believe the OP mentioned that the law firm that handled the FC had documentation showing that the HELOC had been paid off.
"I hired a lawyer. He contacted the law firm who handled the foreclosure, they had documentation from '05 refi showing that the HELOC had been paid off"
Post: Courthouse step purchase but 2nd lien on title
- Chapel Hill, NC
- Posts 34
- Votes 25
Since your attorney "contacted the law firm who handled the foreclosure, they had documentation from '05 refi showing that the HELOC had been paid off", there may be statute in OH similar to the one in NC (45-36.16. Affidavit of satisfaction) which will allow the attorney to submit an "Affidavit of Satisfaction of Security Instrument by Attorney Licensed to Practice Law in North Carolina"
The above is just my opinion, I'm am not an attorney and it is not intended to be a legal opinion or advice :-)
Post: Title Search Company / Attorney in Baltimore Area
- Chapel Hill, NC
- Posts 34
- Votes 25
@Tom Gimer with Masters Title & Escrow who is also very active in BP boards. I have not personally worked with him or his company (I am in NC) but have seen his advice and posts here and I believe he should be in your short list for consideration..
Post: Recommendations for Ceiling Fans for Flip?
- Chapel Hill, NC
- Posts 34
- Votes 25
"I don't want to lose my shirt buying this property" - hire an attorney to do a title search and provide you with a title opinion. Best way I know. Cost about $200-$250 in NC.
Post: What to do with left over materials
- Chapel Hill, NC
- Posts 34
- Votes 25
If there is a local habitat for humanity store (restore) near you, you can donate to them. You will also get a tax receipt for charity :-)
Post: HVAC in first rental not working, need help
- Chapel Hill, NC
- Posts 34
- Votes 25
+ 1
@Tomny Gunter and @Katrina P
http://www.raleighheatingandairservice.com/what-causes-an-air-conditioner-leak/
Post: ‘analysis’ or ‘paralysis’?
- Chapel Hill, NC
- Posts 34
- Votes 25
@V G. If you are going to use a PM to manage your OOS properties, you will most likely need more than 5% for maintenance. Here is an example of a charge I recieved from my PM for toilet flapper change ;-)
Trip Charge - $40
Labor (Minimum 1 hour) - $45
Material -$10
If the property is closer to me, I could have done this myself for under $10 just for the cost of he flapper at Home Depot for $8.99
My PM always finds something to be maintained and requires attention every month ;-)))