All Forum Posts by: Elena Jobson

I lived in that area several years ago, and I would classify it as a D, C- area at best. I haven’t gone back since . I’m sure things have changed somewhat but in truthfulness it was an awful place to live. I believe there are nicer parts of Aurora that would still be on the affordable side. I would look a little further south.

I don't know about lending in Canada however I have never heard of such a thing. In the US the broker Comp is paid through closing and it's usually paid by the lender not the borrower.

I don't think you can lien the property. But this guys sounds like a clown. I would terminate the contract if he doesn't want to release your Earnest Money, take him to court. But you have no grounds to lien.

If you're going through a title company then why would you want to do a Quit Claim Deed in lieu of a Warranty Deed?

Title companies are disinterested 3rd parties, any attempt at structuring a deal to benefit one party would be highly unethical and probably illegal. That said, it's never a bad idea to have your attorney at least look over the documents. You should see if he would sign a note and record a deed of trust to protect you and ensure that you get paid back when he flips this property. Also I would ask to see his numbers so you know it's a sound investment.

I believe this to be true with Fannie/Freddie loans however I also think there may be a loop hole. I know that you don't need to wait the 6 months with a portfolio lender but curious on a conventional Fannie or Freddie loan.

If you're planning to take your proceeds and buy another (multiple) investment property, it would be wise to do a 1031 to avoid cap gains. Just be aware of the time constraints on 1031s. Why pay cap gains when you can tax defer?

I don't see why not.

I am not certain about WA state but you should be able to do a quit claim deed without a title company. You just need to prepare the document (correctly) and then take it to your county clerk and recorder. That's the way it works in Colorado anyway.

I have never heard of a real estate privacy trust, is it true that you can transfer title from an individual into such a trust and the lender cannot call the note due?