All Forum Posts by: Matthew Morton

As an attorney, I would recommend having a business attorney write this for you, or at the very least, look over any agreement you intend to use. There are a lot of unintended consequences that can catch you by surprise if you aren't careful. The laws do vary by state so I would recommend using one in your state or in the state in which you intend to incorporate.

I would definitely pay to have a title search done by a title firm as they will confirm whether there is a mortgage or other judgments or liens that would attach to the property.  Also, state employment taxes as well as IRS liens/taxes would also attach to a property.  That is why the title search is important.

Good luck.

Matthew

I would concur that a motion to disburse the funds would be the way to go.  The clerk takes out its fee and then the rest would go towards the judgment.  So, if you got $6,500.00 back then your judgment gets reduced by that much and the property gets reset for sale.  In some counties, the clerk is backed up enough that they don't immediately reset the foreclosure sale so you have to pay attention to that as well.  

Matthew

No, there is nothing different between a private party lender and a bank sale.

Thanks for all of the encouragement and information. I am looking forward to learning more from you and others here. Thanks again. Matthew

Hi all. My name is Matthew. I have been involved in real estate law for several years and am just getting involved in learning more about investing and property management. I have had the privilege to meet a few investors and counsel some as well in legal proceedings but am looking forward to learning about the ins and outs of the business side. Thanks for your patience and understanding as I learn. Matthew D. Morton