All Forum Posts by: Donna M.

Thanks Mr. Ziv!
I feel a whole lot better and I'll check with my lawyer on Monday.
One more question, does it make a difference if there is no mortgage?
Aloha; Donna

I just got the warranty deed to sell my house and using the same attorney as my buyer. I noticed the section that says:

"Witnesseth that the grantor, in consideration of ONE AND MORE DOLLARS ($1.00+) paid by the grantee, hereby grants and releases unto the grantee, the heirs or successors and assigns of the grantee forever, ..."

I've never seen this before and am a little concerned. Does "AND MORE" and the plus sign mean anything? For example, any amount over $1.00? Should there be the exact price I'm selling for, instead? I tried calling my lawyers but there away for the 4th of July weekend. It's gonna bug me til Monday!! Any help? Insight? :crazed:

Also, would I have to wait until the deed gets recorded in my name before I sell? I was told that I would have to and that could take a while.

Sorry to confuse you!!
I had intended to wholesale this house with my fee tacked on. But if I'm able to just buy it, and then sell it at a higher price to my cash buyer, what kind of problems would I run into?

If I'm able to buy a property, all cash, and then resell it for a fee, what are the downsides? Would I have to wait until the deed gets recorded in my name to sell it? Is it a bad thing for the deed to be in my name? Never been able to buy all cash before so I'm clueless!

Usually, after you get a house under contract, your next step would be to open escrow. However, my seller wants to "keep things as simple as possible" and do a quit claim deed, no title company or lawyer. I'm confused as to what my next step should be. Any help? Thanks!!

Mr. Feinen;
No you were not too rude, but just rude enough. Since you were referencing me, I take serious offense to that.

So, to answer the question and settle the argument, it can be done, but with reservations.

Thanks everyone!

Riverside, 92551
SFH 950 Sq Ft, 2/1 ba
ARVs $95k
Purchase price $63.4
Needs $6k in repairs, house is okay, just needs cosmetic updating
Rents $900-1150, good area, near hospitals, military installation, community college, freeways, good schools, parks, shopping

Analysis: $5.4k/$63.4+ 6k= 7.7% CAP

There's a 2 car attached garage so I could possible add on and sell as a 3br/2b. Homes of that size in the area are selling for 115k conservative.

I'm flying to the area next week to check out potential investment properties. Is this something I should be interested in? What else should I look at?

Just to be certain, you can double close with your seller and then double close with your buyer? Thanks!

Thanks! It started getting a little heated! Haha!