All Forum Posts by: Kevin Polite

We were under contract on a short sale tha fell through. It was purchased at the courthouse steps by someone else. The selling agent told me the guy bought to wholesale and all he has is his first name. Any suggestions on how to find him? I know in this county it takes sometimes weeks to months to record.

Thanks for all the great info. The folks on this site have so much knowledge and more importantly experience. The more you do the more you know I'm finding out after one year

Buyer pays for title insurance. In this case the property is in metro Atlanta. The attorney is the buyers son,but the attorney is from a smaller county 90 miles away and is unfamiliar with the area.

Do I have any recourse against my attorney? Shouldnt he have resolved those when I closed as the buyer? My original attorney office acts as one of three attorney offices that handle courthouse sales and Ive used that firm but not that attorney before.

We got title insurance when we purchased it from the original seller. Now that we are selling it to a buyer they are saying there are title issues. My question is why can't they get title insurance if I got title insurance without a problem?

We purchased a home before it went into foreclosure directly from an individual. We used an attorney and got title insurance. We remodeled and have a solid contract. The attorney for the buyer is the father of the couple.
He keeps trying to complete the title back 20 years even though we have a title insurance. Our P&A states they only need to be able to get title insurance. The seller to us had no liens, but there 2 other people with similiar names, but different addresses and he wants a "No Me" Affidivat.

Am I missing something here? Is he being overzealous? we gave them 45 days to close, their loan is fine, their due dilligence is completed, if they don't close on scheduled date should we refuse unless they lower the closing cost we offered? I'm sick of their agent and they backed out once before. We had 3 offers on 3 consecutive days AFTER we signed the deal with them so I'm confident we can sale, but we're getting close to the holidays.
Help Bigger Pockets!

Bill, all good questions.

I had specifically asked the other agent, I'm the selling agent & investor, if there was a 2nd mortgage. Bad on my part for not checking further to verify. BOA owns the 1st and have approved.

Chase owns the 2nd. The 2nd was to be included in the bankruptcy but wasn't approved. I was not expecting to payoff 2nd as we didn't know about it and the amount owed wouldn't make the deal work.
Still waiting to hear back on this part of it. 2nd has been notified of sale.

The other deal is a flip that we are selling and we'll use the money from that for another project. pro

We found a property, if we can still buy it at the agreed price, would have been a great deal to buy & hold in an area that is rapidly changing for the better. House down the street rented for if we get the same would be 20% return.

Yet the agent just informed us that they discovered on the day before closing a 2nd, the seller is in bankruptcy and the Bankruptcy attorney didn't know seller was selling the house & no one has contacted the 2nd. the 1st mortgage had approved the sale. I would have moved on long ago, but this is in my target area, well below my target price, however, who knows when this will if ever be resolved.

We can only, at this point, do 2 deals at a time and we have a contract on the other. Should we move on or wait to see how this plays out. We are in month 4 on the short sale.

I've had success with signs in the yard, but rentals or midscale and I'm afraid I wouldn't get the type tenants to call on signs posted on anywhere. If I'm wrong please give let me know your successes with that

Another is a Google Ad Words campaign. When you sign up for a gmail account or Google Analytics you usually receive a $100 Free Ad Words campaign. Use target words like "house for rent Jonesboro" I got a surprising amount of leads from this.