All Forum Posts by: Rich Baer

@Aram Schwartz I still stand by my comments. Hire a local title company who knows about liens in your jurisdiction. Have them contact Auction.com. By the way your contact allows you to choose who you want. Just fill it in. Really pretty simple. Any title issues you don't close until they are resolved.

@Lara Gonzalez

No one has responded because your post is not clear. First paragraph says you are bringing on a partner. Second paragraph says you are buying out a partner. Please start over with more detail.

@Joshua Contee

Probate lists do not work. Tax sale lists do work but a million people do it. Lists are available in each county or online. Also in the newspapers in each jurisdiction.

@Troy Smith

The insurance company is going to get over on you whatever scenario you have in mind. They are not just going to give you a check for $60K. They will require you to renovate the house. They won't allow you to demolish it. They may also say the repairs can be made for $40K. Many scenarios could occur and you will be disappointed in all of them. I had a similar situation many years ago and I ended up losing money in the end. If you want to sell as is they will subtract the money from your proceeds. I would hire an Attorney or Company that handles claims to assist you.

@Cesar Mundaca

It's a very good question. This scenario occurs all the time. You need to find a real estate Attorney to file a specific performance suit. Once filed he can file a lis pendens in the Land Records putting any future Buyer's title company on notice.

@Lynne Smith

It is Chase who will draft the deed. It will say Quit-claim deed. You can choose to skip the title insurance if you like. Unless you specialize in title searches I would recommend buying title insurance. If you choose to sell it and an issue arises the deal may die unless you clean up the debt or issue.

@Kyle Kipka

Find an Attorney or Company near you that specializes in insurance claims

@Yawo Akoussah

I would be happy to give you guidance.

@Kristopher Lamy

Give me a shout. I can assist you. I will add you to my mentor list.

@Alexander Felice

Looks great. However, I am assuming you did not get permits and inspections. In such a scenario where the fire is public knowledge, if anything goes wrong with the house and the tenant sues you, you have practically no defense. Your insurance company will also most likely refuse to defend you. Cross your fingers and remember this in the future.