All Forum Posts by: Jim L.

Each situation is unique, of course, but seller occupancy after closing is common. Often an MLS or attorney-vetted brokerage form for Seller Occupancy after Closing may be sufficient, and your real estate agent should be able to help you fill in the blanks. If the situation calls for something more exotic or specialized (e.g., you want to include specific provisions not covered by the standard form), you'd be best off with an attorney. (A non-attorney real estate agent would be risking liability for unlicensed practice of law if they do more than fill the form.)

At the , it means Residential - 4 dwelling units per acre. There are other restrictions that go with the zoning, which will require some sifting through Title of the county code, or you could shortcut that search by talking with the local planning department as noted above.

As Nik notes above, individual cities may have their own zoning codes.  For example, Redmond's zoning code describes R-4 . (It's basically the same as the county, with some additional restrictions and/or provisions; e.g., setbacks, maximum heights, etc.).

Naturally, you can try and get the property re-zoned if the current zoning does not appeal to you, but this can take awhile.  Some municipalities have growth plans that may facilitate such a re-zoning.

A lot of what you're asking for would constitute legal advice.  Although an investor in your jurisdiction might have experience with similar actions, to get the best up-to-date information (and save others the risks of unlicensed practice of law) you're best off talking with an experienced real estate attorney barred in the appropriate jurisdiction.  Past experience suggests that even experienced investors sometimes dispense wrong information about the legal requirements for their own areas.  The questions you're asking should be answerable in a few minutes, for minimal cost.

Interesting.  
As far as I can tell, the trust came to be before the QCDs. The property has been abandoned for years, so is possibly neither owner-occupied nor a primary residence when the QCDs were obtained.  Perhaps the investor is working under knowledge of the trust details after all.

Thanks for the insights!  What a resource this forum is.
I like the idea of ordering a trustee's title report.  At least then we'd  have a better idea of current legal status.  We're still trying to track down the trustee.  It's a bank foreclosure, and (at least one of) the heirs has a copy of the QCD she signed, apparently believing that personal debts of the decedent would take all value out of the property.  (I see no major liens recorded, however.)  We hope to get the trust itself, but no one seems to know much about it.  As you all likely have seen, sometimes there is a soap opera going on behind the scenes.

Very helpful response, Tyler.  Thanks!

I've been looking at pre-foreclosure properties and came across one where heirs of the deceased owner of a many-years-abandoned home with significant equity were persuaded a couple of years ago, for substantial $, to quitclaim the property to an investor (the heirs think he is an attorney, but he's not).  The quitclaim deeds appear to have never been recorded in the subject county.  The property was conveyed to a living trust before the owner died, and one of the heirs appears to be the trustee.  The property is now slated for foreclosure auction some weeks away against the estate and heirs.  Something seems shady here even beyond the apparent impersonation of an attorney, particularly since the heirs could have immediately sold the home even 10 years ago for much more than they got for quitclaiming.   The quitclaim deeds erroneously indicate that the heirs received unbiased counsel regarding their options (but sheer ignorance may account for their approving that statement).  

So, my questions are:

1) Why would an investor go after quitclaim deeds before acquiring title?

2) Would the quitclaim deeds have any affect if someone simply contacted the trustee and bought the property?

3) Isn't the "attorney"/investor risking that someone will bid up the property at foreclosure?

4) How do such quitclaim deeds relate to or affect a purchase of redemption rights from the same heirs or trustee?

This response is way after the fact, but I hope to clear up a few things in the thread.  Until the foreclosure auction completes, the owner still owns the home and is the one who can accept any offer just as in a normal sale.  If the offer is equal to or more than a payoff amount (owner should get this from her lender, and is the principal owed + outstanding interest, fees, etc.), it is not a short sale.   You'll need to involve the lender in the offer/acceptance only to the extent that you may need to have them suspend/cancel the auction sale.  Once you've closed, the lender gets its payoff and you own the property.  

Any title company can do a title search.  A quick search for title companies in King County WA should give you a good start.  Costs per search are typically around $400-500.

Looking for advice on how to contact someone who can make a decision. I'm looking at a pre/mid foreclosure property for which the deed of trust has been repeatedly assigned, with the latest assignee being a collection processor. I phoned the last-recorded assignee to see what I could learn, but was told merely that all properties associated with the assignee are with a HUD auction site. The property does appear on a HUD auction site, but with no details about auction date, opening bid amount, etc. I called the "bidder information" number provided on the auction site, and learned that that the firm merely handles the auction, once they receive more information. (I.e., the date/location/etc. of the auction is TBD.) So, it seems there is not straightforward way to offer on a property for which the assignee is collecting. The owner has been out of the property so long I sincerely doubt that s/he even cares enough to know much. Realizing the answer may depend on where, who, etc., is anyone aware of a means, at this stage, to make a pre-foreclosure offer on this property?