All Forum Posts by: Corwyn Patterson

@Derrick E. AVR is at $115k to $125k. I found out the home is actually in provate as well and they want to sell it right after it’s complete. Don’t want to live in the memories.

So I have a situation I need some advice on. I have a seller who has a home mortgage free. They are looking to sell soon. Apart from being mortgage free the home has new roof and new windows throughout. Home is currently valued as is $104k and would sell for $105 to $115 on current market.

Seller is asking $80k cash and home needs some updating which is estimated at roughly $20k. What options do I have? I was considering doing a flip but I’m more into wholesaling it with an investor. Is this a deal an investor would go for?

Al Wilson thank you for the information. I called my attorney to get some advice and he indicated it should be ok but when we do the title search we will learn more. 

Hello everyone, I am looking into a deal in Alabama and the seller is looking to issue a limited warranty deed. I know the dictionary definition and Google definition from what I've found so far but would like some first hand feedback. Is there anything wrong or any reason a limited warranty deed would be issued apart from protecting the seller? Is there anything additional I should look into before securing this deal and what other considerations of cautions do you recommend? Thank you in advance for the help. Corwyn

Toxey McDavid Thank you for taking the time to respond to my post. I spent hours last night in the research mode finding various sites and scrolling through the Alabama and Jefferson county sites. Lots of information and lots to learn. I visited Denise Evans website today and it has a lot of resources. I will be exploring her books and webinars. 

Denise Evans no discouragement here at all. It's better to know the good and the bad side so I can be well informed. It does sound like a lengthy process in terms of taking possession and doing this for the first time might be somewhat overwhelming. Could you elaborate on where the quiet title comes into play in this process? Ideally I am looking to buy and hold my first few properties for the intentions of monthly cash flow then go into rehab and flipping. 

So if I am correct once I receive the tax certificate I can begin proceedings with a lawyer to gain possession of the property via quiet title and so on? Also the owner has 3 years from the date of possession of the property to redeem? 

Hello

     I've been following this thread and have been gaining some much needed information. So if I am correct once I receive my tax certificate I can begin the possession process and current owner has 3 year redemption period? Sorry this was to be posted to a thread for Birmingham AL but its not posting in the correct thread.