All Forum Posts by: David Petikyan

@Josh Carr that’s great advice, I appreciate the time you took to write that. I’m going to meet with the broker today and will mention that. I’m hoping that he would allow it to be listed despite the restrictions.

I’ve never done a quiet title action. Is it pricey? My profit margins are pretty tight as is since I deal with vacant lands from the tax auctions

@Wayne Brooks Thanks for explaining that, I haven't had access to MLS yet, so I don't know about it all that much. I have questions for you regarding your response.

1. Are you saying I can post on the MLS and as a FSBO? I always thought only agents can post on the MLS.

2. Or is what you meant, to post it on the MLS with my brokerage but clarify that the owners will not be getting title insurance with the properties? If that's what you meant, would the brokerage be okay with that?

@Joshua Standing Cloud

Thank you for the tip of advice I'll be sure to bring that up when I speak to the broker today. I would not mind disclosing that I'm an agent. My main problem is knowing if talking to the potential buyers about the property will go against the brokers liability policy, even if I'm not the one from the LLC conveying the property to the buyer. That would be handled by my business partner.

@Wayne Brooks I tried selling one of my properties with an agent before and they said title insurance wouldn’t cover it because it was bought recently from a tax auction (past owners have up to a year for property redemption if shown proof they weren’t notified properly) my only way around this is paying $2,400 to get a certificate saying that they wouldn’t be able to redeem it but that cuts too much into the profit margin.

I'm about to become a real estate agent with Keller Williams. They recently told me that I wouldn't be able to sell my personally owned properties as a FSBO for liability issues to the broker I'd be working for.

My problem with that is that I purchase vacant lands from County Tax Auctions, that can’t be listed due to not being covered by title insurance.

My thought as a solution is to have the properties be owned by my LLC and conveyed by a partner when sold. Sort of like a loophole.

I’m just hoping that it would be okay to talk to potential buyers about prices and such without breaking that rule and getting in trouble.

Anyone have advice on this before I speak to the broker about it tomorrow?