All Forum Posts by: John D.

Thanks @Tom Gimer and @Wayne Brooks for the help here! 

 Ah I see. Thanks Eliott. So with a traditional mortgage I can still get title insurance?

Also, is there any particular reason that I cannot get the title insurance if I am wrapping an FHA loan for example? Why will the insurance companies not provide it?

Thank you!

Hi All,

I was recently informed that I cannot obtain title insurance when closing on a property using seller financing in the form of a wrap around mortgage. Can anyone here shed some light on this for me?

Thank you in advance!

Best,

John

Hi All,

I am looking to connect with some good RE attorneys in Savannah GA this week. Ideally some attorneys who have experience with performing closings using wrap around mortgages and seller carrybacks. 

Any recommendations are greatly appreciated!

Thanks!

Thanks @Bruce Woodruff and @Chris Davidson. Good points! The tricky part about this region is that a lot of the city is pretty close to the sea level, but there are definitely areas that a little higher and are unaffected by storm surges. I agree that the loss of a major port city will result in lots being done by local and state government to protect the area, so that is something that gives me reassurance about this region in general. 

 Thanks Simmy. I sent you a PM!

@Allyson Dohan Thank you for your insights! This is very helpful. I was roaming around Bull street last night and it is lovely. The historic district looks like it might be tricky to find deals, but good to know that the elevation there is pretty high. What I am learning about Savannah is that there are almost two different flood risks, even though they are connected. First is the risk of more frequent storm surges combined with rising sea levels over 10-30 years. That could put the low lying areas at risk. The 2nd is the inadequate drainage system in many parts of city which puts those areas at risk in the case of a lot of rain. Which happens pretty much every year. The one thing I am worried about regarding flood insurance is that I heard there was a national government scheme which subsidized flood insurance so that it was not prohibitively expensive. And I heard that the body that provided these subsidies was planning to reassess it's prices/subsidies which could result in am immediate hike in flood insurance prices for property owners. That is anecdotal though, so I need to do more research on that. And yes, I would love to connect and share research and network! I'll send you a PM. 

Thanks @Chris Seveney. I agree that I would not buy in a flood plain either. However, if a significant portion of the city is at risk to major flooding, I worry about the knock on affect on house prices in the surrounding areas that are at less risk of flooding, or are not even in flood plains. 

Thanks @Michael Dumler!

Hi all!

I am interested to investing in Savannah Georgia and I am currently here right now getting a lay of the land. I am hoping that there are some local investors in the area that I could meet over the coming days (or have a phone call with at least) to get some tips on this local market and to pick their brain a bit on what makes this place tick. :)

If anyone out there is willing to lend me 30 mins to ask a few questions, I would truly appreciate it! 

Thanks!

John