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Updated over 3 years ago on . Most recent reply

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Deed on new Rental Property

Posted

I recently purchased my 2nd rental property. My first property was through a turnkey company so this experience is a little different from my first rental. I seems like it may take up to 5 weeks to obtain the deed to the property. I need to line up some contractors and a PMC but I'm curious if I should hold off since I don't officially have the deed yet.

Should I have any concerns with scheduling repairs etc. without obtaining the deed yet?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

I suppose it's possible that something could happen. BUT, I've never waited 2 days, and I certainly wouldn't wait 5 weeks. Title company should have E&O insurance and everyone should have signed saying they would come back to the table to help with closing if anything was missed.

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