All Forum Posts by: NaDean Bowles

I messaged you with a name and number. 

@Ned Carey, Uninsurable!  I didn't think about that.  I'm so glad I asked, I'll have to check on that.  

Not going through the title company did make me skeptical.  Their guarantee is that if the title doesn't work out, they will refund whatever money I have paid them.  However, that doesn't include any money I will have paid for the rehab.   

I did already consider asking for a lower interest rate.  I was thinking of a lower rate until they get the title quieted.

@Roy Oliphant, the last tax sale was in May and I'll check but I believe this property is from the tax sale last May.  I will not be able to get title insurance until the presumably soon to come quiet title happens.  I don't know, can you get title insurance after the sale?  Doubtful.  

My biggest concern is the title not being quieted.  They guarantee to refund the monies I've paid to them if it doesn't work but not the money I have used to fix up the house.  

I'm all set to sign a contract for a seller financed property. When I asked what title company they used, they said they don't use a title company. This is a set of investors who work with a real estate agent. I've known the agent for a while through my REIA. They have been working together a long time, basically trust has been established by association. They do this all the time. The investors buy tax deeds, clean up the title, and sell them. Well, apparently they sell before getting the title quieted. Apprently they will turn over the clean, quiet title as soon as they get it. They anticipate that to take about 6 months. Right now though, it does have a $500 lein on it.

Does anyone have experience with this?  They are seller financing but at a high rate with the understanding that in a year or so I will finance through the bank.   Of course, that's with the title clean.  I will be putting money into the property that they are not guaranteeing if the title fails.  Would you be comfortable with this?

Have you attended the CARREIA meetings?  

I didn't know that was an option either.  Thanks @Eric Metz!

I'm glad it's working out so far!

Beautiful work, great job!

Great job!