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Updated about 5 years ago on .

User Stats

258
Posts
141
Votes
Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
141
Votes |
258
Posts

Does this clause in a special warranty deed imply the sale price?

Richie Thomas
  • Rental Property Investor
  • Sedona, AZ
Posted

I received a list of properties from a wholesaler, including addresses and asking prices.  For a certain property on their list, the asking price is $115,000.  I wanted to know if I could find the price that the wholesaler paid for the property, so I could find out how much negotiating room they have on the asking price.  The last recorded transaction was non-arm's length, and there is no sale price recorded, so I'm trying to get creative.

I used the address to look up the transaction history on PropStream, and I found the transaction that mentions the wholesaler's LLC as the buyer. They bought it from Fannie Mae, and the property's transaction history includes a document number for the special warranty deed issued for this transaction.

I then went to the online portal for the deeds office in the county where the property is located, and looked up the PDF files for that deed.  I found the following paragraph:

My question is: what are the odds that this $38,400 corresponds to the price that the wholesaler paid?