Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

127
Posts
20
Votes
Kay March
  • Gainesville, FL
20
Votes |
127
Posts

Purchase by land trust listed as a deed correction, not as a sale

Kay March
  • Gainesville, FL
Posted

I'm looking at a possible fix and flip. The former owners defaulted on a private mortgage. Foreclosure proceedings were halted when the property was purchased by a land trust which paid off the mortgage. Now the land trust is trying to sell the property for $170,000, but before the land trust purchased the property, the outstanding debt plus charges only came to about $50,000. I don't see a way to find out what the land trust paid for the property. The transfer is not listed in the property records as a sale but rather as a deed correction with a $100 "price," so the transaction doesn't appear in, for example, Zillow's price A history of the property. Is there a way to estimate the price paid by the land trust, given the known outstanding debt? Is there a formula that is typical for this kind of situation? 

Loading replies...