All Forum Posts by: Britt Clark

Chris- thank you. I did send an email to my attorney as well and awaiting a response. I think something is missing from the story as well. But, I want to research and see if there is a remedy. If so, I might could use that as leverage to get an even better deal if I'm willing to do some legal leg work to protect myself. My wife's dad is an attorney too. So, we are also asking him. There is no way I would ever buy any property without title insurance. I really appreciate the advice.

Thanks for the responses. I do realize utilities easements are common. But, this house was actually “moved” to an area that used to be an old factory. The owners have had the house for 38 years and told me a few deals fell through with people trying to buy. They brought up the matter of the easements preventing bank loans to buyers. My radar went off something is amiss. I’ll keep digging. FYI- The sewer easement runs straight under the house. 

I found an off market deal with a seller who is willing to do owner financing. The seller disclosed the property sits on two easements, one for a water drain and the other for sewer. I am concerned with being able to get a clear title (and title insurance) or the ability to sell later to a future buyer who might use conventional loan. Has anyone dealt with this before? What are the gotchas and solutions? The property is located in Opelika, Alabama. Thanks for any advice.

Be careful when buying umbrella policies. Some will have language that excludes any “business activities” from being covered. I have a $1million USAA umbrella policy I bought last year (before I even got into real estate investing) just to protect my net worth in case of any lawsuit from daily life. It’s only $224/year. You never know when you might be involved in a bad car accident that might have a lawsuit that goes beyond your routine auto coverage. I noticed a paragraph in the policy that explicitly stated the policy did not cover any ‘business” lawsuits. So, be sure any umbrella policy you buy explicity does cover business activities such as real estate investments.