All Forum Posts by: Casey Kooiman

thanks!! Will do!

update from seller: The bank acquired the property through a sheriffs deed. So as a foreclosure it went to a sheriffs auction and the bank took it over.

How do I ensure I get a clear title? So as long as I can get title insurance, I will be fine?

I'm waiting to hear from the bank, and I'm also doing some research on my own... But I can't quite figure out what risks I would face with a quit claim deed. Any examples?

Thanks, guys! I'll keep you updated... Just don't want to somehow get left picking up the tab on something or never getting title. I guess my bank would have certain requirements too since I'm financing it?

@Wayne Brooks Thanks! Seller is actually a bank. Would this explain anything else? I'm asking my realtor to ask why they want a Quit Claim deed.  Hoping to get resolution - great price on the place - just figuring out if it will still be worth it. 

Submitted an offer last night for an investment property in Milwaukee (a duplex), and the Seller countered with this:

Conveyance of Title: Upon payment of the purchase price, Seller shall convey the Property by Quit Claim Deed without warranty of title. 

I know this is the weakest of deeds, but I don't know much else about this... Could someone else potentially have claim to the property? How can I protect myself? Why would they request this, and should I not be accepting this counter due to it?

Any advice would be great! Thanks, BP!

@Dennis Cuocci Do you know how I can find out whether I can transfer it to an LLC? For example, where would the due on sales clause be mentioned?

Hey @Nic Badertscher!

I'm here in Eau Claire too - moved here from MKE about 8 months ago. I have 3 units in MKE and just put an offer in for 4 & 5. I've been focusing more on MKE but am interested in looking at this area now for logistics purposes. Maybe we can meet and chat sometime about real estate in the area!

@Emilio Ramirez @Nick L. @Dawn Anastasi @Account Closed - Thanks so much for the feedback and great information! My other duplex does leak (another 1920s home), but at least the drain has been clearing that out. This new property... not so much. Will certainly be contacting some contractors once I close on the place, but at least I feel the solution is manageable. I'm certainly learning a lot here! 

Btw, I did put the offer in late last night :)  

If the properties have mortgages under my name, is it even possible to put them under an LLC?