I took Brandon’s advice and decided to make an offer

[Kristin Drumheller]

This is literally the first property I ever emailed on and made a low offer because why not right? Brandon has been in my ear and I decided to just do it even though we have very little figured out.

I found a property on CL for $119,900 that is being used as an Airbnb. I ran some numbers and found that around $90,000 would be our sweet spot. I got in touch with the owner and on the phone he explained that they would be willing to do a discounted rate but we needed to know that there were title issues to be aware of. This being my first time ever really getting involved in real estate I’m already feeling in over my head. He explained that they bought the house from the government after the former owners passed away and the house was not left to anyone. He said if we wanted to buy the house with a mortgage we would have to do a quiet title to get title insurance for the bank. If that we’re the case they would not be willing to do the discounted price of $90k but if we did a cash offer then they would be ok with that.

I’m not sure how common situations like this are but it seems to me like it could end up poorly if a long lost cousin shows up. It could also be a great deal with an easy solution down the road. Help!