Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax Liens & Mortgage Notes
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 6 years ago,

User Stats

44
Posts
30
Votes
Dustin Hood
  • Rental Property Investor
  • Nederland, TX
30
Votes |
44
Posts

Buying note for my church...need help

Dustin Hood
  • Rental Property Investor
  • Nederland, TX
Posted
Hey guys, I have a situation I need help with. My church had a contract to purchase a church building in the city I live/ own several real estate properties in. The seller is behind on his payments and heading toward foreclosure, and he’s selling the property for what he owes on it to my church..he’s financed with a local bank. We were getting close to closing, and we find out that an 18 year old grandchild had to sign to get a clear title for some reason or another...WELL the 18 year old had to have his guardian sign also, and THEN...proof of guardianship could not be provided because the guardianship document was kept at a courthouse that flooded. Suffice to say, the deal is off and the bank is going to begin foreclosure process and most likely open bidding to the public I reached out to the bank, and they mentioned I could potentially “buy the note” from them so at least I could secure the property for my church. However, back to the 18 year old, I still wouldn’t have a clear title due to the guardianship document issue. The seller has no intentions of catching up on his note, and he wants my church to get the property. Does anyone have any advice or ideas what I could do here? Our church REALLY wants this building and I want to do whatever I can to help. Thanks in advance!

Loading replies...