All Forum Posts by: Eric Roloson

BP members who have experience with these are encouraged to comment!

If I am the winning bidder on a property and I am issued a quitclaim deed at closing, is my property marketable? Being the weekend I cannot reach out to title office. It is my understanding that they will not even issue title insurance on this. Is this always the case?

The property went through foreclosure. Am I on the hook for the outstanding mortgage or subordinate mortgage, and liens? All, none, or some?

Also it is an occupied property? What is Oregon law? Do I take over lease agreement and have to honor, or can I evict after I give notice to occupants?

The goal is to rehab property in 6 months and sell. Can I work with a good title company and attorney to work through issues?  Or should I stay far away from this, as it will inevitably lead to huge problems and lengthy time constraints?

@Saji Ijiyemi What happened regarding this property? Can you provide the details and timeline? What strategies did you use that worked or did not work?

@Michael H. could you tell the whole story/timeline? Looking at an occupied auction property now

@Michael H. I have the same question. Do you now know the answer?

All of you have added so much value to this forum. BiggerPockets and YOU all ROCK!!!

@Curt Smith this is extremely helpful! Thank you so much! 

I will be adopting these strategies immediately. Again, thank you for sharing.  

@Vaughn A Wiebusch bypass listing agent and contact the seller?

@David Dachtera I completely agree! I did speak with listing agent directly before I put in an offer. But once I had a buyers agent I was advised not to speak with them. I disagreed because they were not doing their job in finding the sellers needs and developing a rapport with them. I posted earlier in topic regarding this. Now I am about to put a second offer in without this buyers agent using another more competent agent. Should I contact the listing agent first or let my new buyers agent do it. Note: I already spoke to listing agent before I ever had a buyers agent and was informed the sellers were fairly motivated and to submit an offer. No response to my offer. No feedback from other agent who dodged my question if they even spoke to listing agent at all. 

@Marci Stein do you find most of your deals on the MLS or privately? So no large rehabs? I haven't done too much with rental properties but I'm interested in shifting to more of these. Have you done much owner financing on rentals or any package deals on multiple units?

@Lesley Resnick great comments and perspective! There appears to be a lot of contention between agents, buyers, and investors regarding this specific property. I ran the numbers and know what its worth to me based on the investment I have to put into it. How would you suggest I "lay that on the table"? It was suggested I attach a letter to the offer explaining the reasoning of my offer, would you agree this may help?