All Forum Posts by: Ingrid Bailey

Bear with me.

Owner has inherited property, the other heirs signed over their ownership to her. Turns out several of heirs had liens (hospital bills, tax debt). Comps in area range from $37K- $60K. Her house, ARV would be about $42K. Needs $15K in work/updates.

The previous liens total about $15K, which she is trying to quitclaim to end owner in order to sell for about $10K - $18K.

I've done traditional wholesale assignment deals, but I'm trying to see if there is anything in this deal to continue working with owner.  

My husband (partner) says no - I just want to check on creative options we haven't considered (and I've built rapport with the owner, and she needs help).  

So...?

@Wayne Brooks  Makes sense.  Thanks.

Lawyer contacted my company - has a client who wants to sell GROUPS of his properties in three different areas.  I have a buyer and we're ready to put the play in action, but I need to know what I should put in place with seller's lawyer as the designated person to sell the properties??  In other words, how do I protect myself (from buyer cutting us out of deal)?

@Tom Gimer @Wayne Brooks Thank you both - we have a good relationship with our title attorney who handles our closings, so we'll bring it to his attention now to avoid any potential issues.  THANK YOU!

Out-of state seller wants to sell because they have moved out of state. Having trouble because there's paperwork missing from the original sale 10 years ago (via auction) to seller's mother, then quit claim deed to daughter (current seller) who now has title and pays the taxes. But apparently, the power of attorney for the original seller was not permanently recorded?  Any suggestions for us to help move this sale through? (specific scenario below)

Message from seller says - My mother bought the property from a live auction estate sale held by a auction company about 10 years ago. The auction was selling it for a man who had power of attorney on his mother. I bought it from my mother 5 years ago. Both of our mothers are deceased now. The sale went through just fine 5 years ago. I bought the property from my mom she just quit claim deeded it to me to get it into my name as we had no idea about the power of attorney not being recorded . I called the auction house and one lady there specifically remembers the particular sale and stated they 100 percent had a copy of the power of attorney but do not anymore because after years pass, they no longer have to keep documents.