All Forum Posts by: Spencer I.

 I thought the same, but we have one good sibling who brought everyone on board with the sale. Everything was ready to close up until this issue. 

 Yes. We verified with the last 4 of his ssn. He is on a payment plan and is paying it every month. I think he wasn't paying at first, they put a lein on him, and put him on a payment plan. Would they be willing to lift the lein even though he is paying it down?

I have a property under contract ($31k) with 9 heirs, one of them has a child support lein for about $55k. Is there a way for this heir to relinquish his rights to the property so we can wholesale it? I have a buyer ready at $37k,  but we don't know how to get around the child support lein. They want it paid in full before the sell. Any and all suggestions welcome. 

I have a deal with a great potential profit. The property has been vacant for a few years, and the seller is highly motivated. Title came back with a lein for $65k from the original mortgage company. The seller informs me the mortgage has been paid off. Come to find out the mortgage company sold the lein to another company, who sold the lein again. The seller has proof the mortgage is been paid off, but as you know all the title company wants is a release of lein. Is there a way we can get a release? Or is the deal dead and she will be stuck with the property? 

$750 - $800 / month

The property was in very bad shape, almost tear down. Also in a rental part of town. Fixed up would probably be worth $50-$60k 

I have a deal in the works. They property has been fixed up to like new condition, and the seller's mother in law has been living there rent free. There was no rental agreement, the property was given to her to live in with a warranty deed. The seller also had her mother in law sign another warranty deed which will deed the property back to the seller. Now the seller and her husband are getting divorced, and the seller filled the second warranty deed with the city to take the property back and put it in her name. She contacted me, and wants to sell the property. Most likely the mother in law will not want to move out so an eviction must be done. She wants me to close on the house, and deal with the in laws once we close. I negotiated a much better price on the house because of this. I know I can get $65k for it, and got her down to $42.5k. 

My question is how should I go about wholesaling this deal? Should I offer it to my buyers with the mother in law still there, and let them handle the eviction? Should I start the eviction process myself? I wont be able to see the inside of the property, so it will have to be sight unseen.  

Any advise will be greatly appreciated. 

 I hear you. Thanks for the motivation. 

Wayne,

Thanks for the info. Just asked my title company, and got the same answer. The lein is from citi bank for about $17k. I'll give it a shot, but I don't think the deal will close. I have it under contract at $12k, so they would have to settle for considerably less if the seller wants to get anything for the property.

Hello all,

I have a question. I have a property under contract with the seller and the seller's brother in title. The seller's brother has a lein on his name that will pretty much kill the deal. Using a general warranty deed, can we have the seller's brother grant the seller sole ownership of the property so it can be sold? Is there another way to do this? or should I just move on from the deal?

Thanks in advance

Spencer