All Forum Posts by: Ray Loveless

@Sam levin, give fig a call to hear about their current projects.  Last I heard they were doing projects in utah and Texas.

The salt lake auction is next week. 

so I'm glad I went it was interesting. All the properties I was interested in ended up paying their taxes last minute. There were some other properties that I thought about bidding on but I didn't know any information about them. Mainly land. The tricky thing about it was that you only had like 2 hours to wire the money after the auction. So you really didn't have any time to do any diligence afterwards. 

I guess I could have paid to pulled title on like five properties I was interest in and just expect that when auction time comes I will only really have one property to bid on... Mainly because the auction list is very long and a lot of owners end up paying their taxes the last minute. So you're throwing a lot of money away when you are researching the properties to make sure they have clean titles. I would say there were 50 land properties and only 5 structures for auction. Most of the land was small slivers of land that no one wanted.

  Another thing I heard was that title companies don't like offering title insurance on those type of properties. So you are taking a risk. Perhaps you could find title insurance...I am not sure though.

This Thursday I'll be attending the Utah County Tax Deed Sale.  This will be my first tax deed sale!!  Has anyone out there attended this particular sale or the sale in salt lake county?  Any tip or trick?  I know you want to do your research and make sure the properties don't have any Judgments, etc. 

Thanks.

I'll let you know how it goes.  Any other BP folks planning on attending this sale?

@Jaiden Olsen, interesting... does the title company usually hold the earnest money or does your agent( the buyer's agent)?  If I were selling I'd prefer the title company to hold the money...

@jackson pontsler, Thank for the clarification.  So.. after I get the signed contract i drop off the earnest money off at a local title company with a copy of the contract?  How does the seller get proof I've put in the earnest money?  Is it something they can call the title company about if they are concerned...? 

Title says it all. Correct me if I'm wrong but(in Utah) on an accepted MLS offer the buyer writes an earnest money check and the check is held by the selling agent's broker's office... and only under certain conditions can they cash the earnest money check.

   How does this work with fsbo offers?  I was going to make an offer to the owner of a 4-plex building near me. I've spoken to him a couple times about buying the property but nothing has ever come of it.. I though I would give him an official offer to let him know I'm serious.  Should I include earnest money with this offer?  If he accepts the offer would I just drop off an earnest money check at his home? 

   Thanks kindly

Do the hoa fees include water,sewer,and garbage? Be sure to include those.

@Cody Steck, @Cason Acor, @Cherie Orellana- This would be a "Exclusive buyer-broker agreement & Agency Disclosure".  There is no addresses listed on the agreement.  I've submitted an offer with them in the past but not on this specific deal.  I'm leaning towards signing the agreement sense they work with a larger property management company and have some good resources in finding off market deals... and also sense they've continued to send me deals.  I haven't heard much from the other agents.

   Would this affect the "for sale by owner" deal I'm working on?

Thanks for the good advise!

@Russell Brazil, - Thanks, good feedback from the agent stand point.