All Forum Posts by: Chris Mcmahan
Chris Mcmahan has started 5 posts and replied 28 times.
Originally posted by @Caroline Gerardo:
Don't pay for attorney. Ask in writing with an email (there is a form too fill out as well). They will send you an answer. You and whoever else signed the agreements (there are several you signed) need to reside there which is cross checked by: driver's license, IRS taxes, utility bills, USPS, etc need to have the address.
Is your posted name here the name on the deed...
Not sure what youre asking about name on deed, it is in my name yes
Originally posted by @Greg H.:
Was this a document you signed at closing OR is there an actually deed restriction in place? Check you deed to see if there is an actual restriction. If not, there is no restriction in place to keep you from selling the property now. The chances they come after you are slim to none
dont see anything in the deed, maybe worth calling the title company to doublecheck
Thats why I wonder if its worth involving a lawyer, if i knew legally what constitutes primary residence... ive been living on the road for the past 2.5 years using my brothers house as primary residence yet i was never there. thats why if i kept things in my name and just had my buddy move in as "caretaker" or something until the year is up. that way he isnt renting and im also not selling prior to the 1 year
great advice you guys thanks so much. I definitely dont want to do anything sketchy that could make things worse... I have been thinking about calling FM to plea my case but didnt want to put a target on my back by doing so. I figured if i called and they said no id be under extra close scrutiny.
Hey guys, i really messed up. Out of desperation i bought a house for my family, we were pushed out of the west due to housing prices. Its a freddie mac home that requires us to keep it as our primary residence for 1 year. That was our intention but one month in we hate it here. We have been struggling with what to do in life and where to go for the past 2 years and buying this house made me realize IT IS NOT HERE. We have decided to follow our dreams and move to Hawaii where we will both be starting new lives and careers but dont know how to handle the house situation. Here is how the contract reads.
I actually just met someone that wants to buy it as is for what I have into it, so i wouldnt be making a profit but if FM finds out they will stick me with 10k fine. Is there a way we can structure a deal to sidestep this penalty? I paid cash for the house and have considered offering him seller financing. Technically I cant even rent to him. My idea would be to keep the bills and everything in my name, he would move in and I could pay him like 1$ to be my live in caretaker while we take off for hawaii. When the year is up we would make the transaction. I dont want to pay the 10k but I also dont want to be illegal. Can anyone advise? I just want out.
Its on my calender, planning to be there!
Is anyone still doing the meetups? I am returning to the area in a few weeks and would love to join the group!
Post: Seeking Buy & Hold investors or House Flippers
- Posts 29
- Votes 9
Same/bump.
I have been looking quite vigorously and unsuccessfully for the past two years all over western montana. I had to retreat to stay with family all winter but im heading back out to kalispell in 3 weeks and im done messing around. I need help, first and foremost I need a place to live!
Post: How to title search for free on foreclosures and REOs
- Posts 29
- Votes 9
Originally posted by @Ricky Hale:
@Chris Mcmahan how do you find REO's list? Or get them from a bank?
countless hours online, you can visit all of the national and local banks websites... seems about half have REOs actually listed. also sites like auction.com, and hubzu. Then of course theres HUD homes and many others. Theres better ways, but they cost money.
Post: How to title search for free on foreclosures and REOs
- Posts 29
- Votes 9
Originally posted by @Amy Rose:
Chris, I wish I had someone with this problem in my city. We have a lot of foreclosures, too, but investors usually have someone to help them with this. A title attorney here can easily pull those titles for you ahead of time. Are you really buying that many at one time? You should be able to hire someone. I would love to have this kind of problem!
No, just looking at a lot, its hard to even wind up buying a single one, theres so many bigtime investors that the price gets driven up way too high for me to compete, but i still have to analyze the properties before the auction.