All Forum Posts by: Tom Gimer

I don't see marketing in the VA definition. But regardless I don't see how marketing a property you have under contract to another investor would be brokering unless they continue to move the goalposts. When you do it as a principal it’s neither for the seller nor for compensation. 

Just double close. Yes, it costs a little more... adjust your offers accordingly.

The law is a mirage. Very few brokers will want licensed wholesalers under their umbrella.

They will likely terminate before the inspection period expires. If they don’t, my guess is they already have a buyer on the line. 

The solution going forward is don’t agree to terms with wholesalers that have study periods unless the DD period is reasonable and/or you can still market until the $ goes hard. 

@Jay Lam To answer that question [(d)(i)(D)] you will need to identify the named Insured, the members of the LLC, and the consideration stated in the deed.

And even if the conditions for the LLC being covered by the definition of the "Insured" are not met, the policy would not be voided. I would get a second opinion from somebody other than the title insurance company rep providing you bad information.

What @Peter Walther is saying in the "word salad" is that, when a fraudster forges and records a deed, that doesn't actually have the effect of transferring title... only the true owner can do that. A forged deed is generally void ab initio. 

But a forged deed does create an issue that needs to be resolved... either by having the instrument stricken from the land records via court order or whatever the local custom is.

Yes -- if I can help in any way or just want to meet up let me know.

Can't some fool jump in here with a quick "Pace Morby is the best thing that ever happened to me" comment to lighten things up?

Correct. No TI and it becomes an attorney closing. Congrats, you just took a dump on an entire industry.

Yet another decision made by people who don't have a clue what they are doing.

How pissed will people be when they realize the end result benefits LAWYERS... 

Well that went sideways pretty quick... kinda like a poorly planned subto deal!

@Season Price It doesn’t. 

If a property is subject to a registered ground rent, or if the ground rent has been redeemed using the SDAT redemption process for an unregistered ground rent (or a registered rent not being billed), you can generally find that out from the SDAT record. 

But beyond that information of limited value you need to learn to research the land and court records, etc.