All Forum Posts by: Randon B.

This hasn't happened to me but I'm sure it happens often.

Say you get a vacant house under contract, and the seller lives out of city/state.

You get permission to have your partners/ buyers to come by and look at the property, possibly state in the contract being able to put a lock box on the house.

BAM! The house gets broken into, all of the copper is missing and the place is trashed. If I was the seller and I got news from someone that was supposed to be helping me out I would be ticked too.

You can't just pointing your finger at buyers, maybe it was a neighbor that realized the place was vacant and took advantage of the situation, maybe all the new added interest in the property got the wrong peoples attention. 

Especially if your using the internet to broadcast your property where essentially anyone could see it.

What are steps that you would take if this happens? Or steps that you could take to prevent something like this from happening?

Thanks guys!

Hey @Brian Stevens welcome to Biggerpockets!

Here's some updated information, I talked with him this morning and he has been working with an attorney and title company in town to clear all of this up, but from what he is saying its all coming down to how the wording in the will is its conflicting with the deed being put in his name, because of his deceased brother and his adopted children. 

The way I think around this is an all cash deal correct? Or buying subject to the existing loan staying in place? I'm not well versed on subject to so I'm not sure if that would apply here completely.  He did have a buyer that was going finance the deal and had put 5k down for earnest money but the contract expired because of the title policy mess.

Not sure where to go from here..

@Dave Metsker  @Josh James  @Ethan Bowen  @George Gray 

Hey thanks so much guys! @Josh James 

 @Ethan Bowen   I'll talk to him tomorrow and see what we can do.

Also, I am just now reading an article that is saying that under Texas law the general deadline to file probate is 4 years.  

@Dave Metsker 

Hey @Dave Metsker  thanks so much for the insight!

So does he not need to go ahead and get the will probated? 

As of right now I believe that he is current on the mortgage and taxes. He's been paying on it for years and needs to get out of it, he doesn't know the sq. ft of the house or when it was built exactly, but he is asking 120k for 26 acres which I should be able to bring him down on price.

I'm going to drive out to the property this weekend to see the house.  

I think I'm in the right forum for this question..

I have a lead in Medina county Texas with some acreage and a house on it.

The heir waited to long and never started the probate process after his mother passed away. The property is still in his mother's name. He is saying that he can't sell because he is unable to get a title policy.

What is the process that we should do to get it put in his name? Or is there a way around that? 

Thank yall!

Great insight guys thank you so much. 

You're really right I guess, as it may not need as much as I'm thinking, New paint, and floors.. the main thing I'm worried about is carport, it leaks and has wood rot, it definitely needs replaced. The original owners had converted the garage into and extra bedroom and made that carport instead.

I need to find out what the deductible is on her insurance.

This thread is fantastic! The last update was a cliffhanger, I can't wait to hear what happens next. 

Great job man, I'm excited and rooting for you!

Hey guys I apologize if there is an obvious answer for this in advance...But I'm not aware of it so here I am ha!

This is my mom's personal residence. She has lived in this house since 1999 when she bought it for 45k.  The loan has since been paid down to 33k on a 8.25% 30 yr mortgage.

This house is located in Odessa Tx, and since the new oil boom the housing prices have gone up in the area. She is thinking about selling the house while prices are up, but it would be beneficial to do some work on the house to get it up to standard. Which I am estimating conservatively to be about 15-20K . Recently sold houses in the area have gone anywhere from 90-130K.  The tax assessment value of her house now is about 86k.

Now here lies the problem,  being a single mother throughout the 90's and racking up school loans and credit card debt, she doesn't have the greatest credit score and has been denied a refinance in the past.. which is what would be the best scenario right?

Is there anything that I could do? I've read about 203k loans, since she would be occupying the house for a while at least. Would I need to buy the house and have it in my name? Is that even allowable? 

What would you guys do?

Again I apologize if this question is below everyone's heads, I'm just trying to figure out ways to help her since she has done so much for me.

Thank you guys