All Forum Posts by: Ashley Oyirifi

Thank you for your input and information. This is quite helpful. Yes, the house is not listed in the MLS. My numbers indicate that it is in fact a good deal (after getting this person to a price point I liked).

She’s now said that the title work was done ahead of time because she knew she’d be assigning her contract to someone. She has provided me information for a reputable title company who will provide the documentation, insurance, etc. So, my next question is how would you proceed? Vet the title company or dig my feet in with the company I know.

I saw a local couple close with this lender within 4 days of signing a contract, so I’m still pondering how that happened if titling takes so long. 

I’m tentatively buying a property through a wholesaler. She’s assigning her contract to me. She’s been telling me the title is clear and when it was time to set up closing … she mentioned that she’s already had the title work completed with a title company that I’m not familiar with.

Do wholesalers typically have title work complete before a deal? The company and agent seem reputable, but what are the risks of using a closing crew I’m not unfamiliar with?

I have an off market deal under contract. It’s a purchase from a wholesaler who is assigning me her contract. I’m using hard money for the purchase. The lender expects me to use a title company. This wholesaler wants to do Lord knows what. Says the title is free and clear and I don’t need title services. I’ve only ever purchased my primary home. What do you do for title services and how do you get hard money loans to close in 5 days if title services take weeks? Should I ask my attorney to work on the title in lieu of title company?

Clearly I’m very green. Any input helps.

I've got a VA foreclosure under contract. On paper it seems to be a great deal, priced $80k - $100k below comps. About $30k - $50k in equity will be left after repairs.

Unless, the following sewer report would result in more repairs. Can anyone help me make sense of this while I work to find a professional who can let me know more about how/if this will impact my rehab.

Summary of report:

Erosion at the cleanout, Stress crack on the hub, Blockage at transition.

Here’s what the report says:

“The camera was first entered at the PVC riser located in the front yard. The camera was pushed 72 feet downstream out toward the sewer main. The PVC riser is a sleave that turns into clay pipe a few feet down the riser. The downstream section of the lateral line is clay pipe. The camera was also pushed upstream from the base of the riser. The upstream section of the line has a lot of settlement and the viewing is obscured. The camera was then moved to the basement and pushed downstream from the base of the stack out toward the clay riser located in the front yard. There is erosion at the cleanout and a thin fracture on the side of the cast iron stack. The camera was not able to push through the debris in the line at the transition from 4 inch cast iron to 6 inch clay outside the foundation wall. The floor was marked with green paint to trace the cast iron sections of the line.

The clay sections of the line that were viewed appear to be in serviceable condition at the time of the viewing. A licensed plumber should review the report and video to make assessment for repair to the cast iron stack and other sections of the cast iron under the floor at the foundation wall.”