All Forum Posts by: Jason Ross

Ned Carey , thanks for this response. I have learned a great deal from you already by reading your posts, and appreciate your insights. Yes, I will indeed reach out to an OK attorney with experience in these matters before acting. Through the Tulsa County Clerk, I confirmed that the property (commercial multi family) was mortgaged within the last four years; there is likely still a relatively high LTV. Also, the bank has filed an assignment of rents. Whether or not that mortgage lien is wiped out according to OK state law, I'm wondering if the assignment of rents would be treated differently from a mortgage lien. Thanks again to all for your advice.

Thanks Dustin Davis . I've reached out to an attorney friend of mine in the area for a referral to a local real estate lawyer.

Thanks Steve Gregory . I just got access to the County Clerk system. Seems like property owner paid way too much (huge mortgage outstanding) and now can't afford taxes or vendors (as there are mechanic liens outstanding).

I am interested in a property that is set to be sold at tax auction next month. (Happens to be in Tulsa County OK.) I have never purchased a property at auction before. I want to do everything I can before the auction to determine whether there are other liens on the property. And, if I happen to win the property, I want to make sure to protect myself against any claims that may emerge. Before the auction, I intend to review the records at the County Clerk's office. Is there anything else I can or should do? I've also read about people purchasing title insurance and filing quiet title actions. Is this enough to protect myself against any unexpected claims? Any other steps to take? Finally, I happen to know someone who knows the person who owns this property. I could probably get an offer in front of this person before the auction (which occurs in about ten days). Does anybody with knowledge of Tulsa County policy know how soon before auction a tax lien can be satisfied so that the property is pulled from auction? Thanks!

Thank you for posting this. Never encountered him, but this is a reminder to be careful about who you deal with.

I had a similar situation on a recent sale. It seems that the buyer (not an investor, but a would-be owner occupant) actually had multiple contracts out at the same time, and was using an inspector like this to fabricate inspection items and negotiate price. And it seems that Buyer's agent had played this strategy before. Sadly not much can be done. If you think the buyer or his representatives are unethical, though, don't give an inch to their demands. Let them walk on the inspection and expect that you'll find someone more ethical to buy. Good luck.

Thanks all. This is the answer I expected I would get, though given the unusual nature of the comps, I hoped there may be some process for addressing the issue.

I own a townhouse in a new (3-4 years old) 12-unit development, mixed residential/retail. State of Ohio. I am trying to refinance and had an appraisal. As comps, the appraiser used three other units in the development. Two of those units had been sold as finished units by the developer; one of them had been sold unfinished. To estimate the cost of finishing (i.e. cabinetry, carpeting, countertops, lighting, etc.) the appraiser picked a random number. Based on the developer's advertised costs of finishing the units, the appraiser underestimated the cost of finishing this third comp by $10k. This mistake is basically going to cost me $5k in financing. I have asked the appraiser to revisit his appraisal based on actual market data. He won't respond. Do I have any recourse against the appraiser for factual errors?

Hi Brendan Majev ! Welcome to the board. There's a good real estate investment club in NoVA that I could introduce you to. And if you see something that is too small to interest your company, drop me a line. Maybe we can find a way to collaborate.

Brian Roces If other options don't pan out, I am in a position to help, if the deal checks out.