All Forum Posts by: Matt Shields

For those participating in Arizona trustee auctions here is an interesting article:

https://www.asreb.com/2018/04/laying-law-supreme-court-rules-claims-wrongful-foreclosure-must-filed-prior-trustee-sale/

BTW. Realtors rely on title companies and may be hesitant to do a title search even if they have records access because of the liability issues. Agents often get themselves into trouble by working outside of their field of expertise. 

 Keep in mind that a title search is NOT title insurance, and if something is missed, or you're not first position, it's your problem. As always, seek professional advice. 

 I'm in Arizona and can only speak to our trustee sales. If a trustee auction allowed any sale to be retroactively canceled and the buyer's money not refunded, I can't imagine anyone participating. HOWEVER, there are plenty of other ways to lose money at a trustee sale.

 Generally, Realtors rely on title insurance companies to search title history. The only situation where I have heard of a foreclosure being reversed is if the homeowner can prove a mistake was made or if they are in bankruptcy. Even then, the buyer of the foreclosure would have their money refunded. 

Okay great! I'm in Phoenix, Arizona and work with Canadians. I just thought I would see if you were looking here. Good luck!

Where in the US?

Some multifamilies don't have separate utilities and can be very expensive to install separately, but I think most investors prefer tenant paid utilities. 

It has both positives and negatives. Everyone knows the pluses so I'll point out some minuses. (I'm in Arizona so your results may vary) Compensation can only be paid to a licensed broker so you can't pay "finder fees" to unlicensed bird dogs or wholesalers. You must disclose that you are a licensed agent in all transactions and many people do not want to work with agents. If you find yourself in court you will be held to a higher standard and could lose if determined that you used your superior knowledge to take advantage of a non-licensed person. You will have to pay mls fees, licensing fees, national association fees, local association fees, and broker fees. You will have to pay for and attend CE classes to keep your license current. If you violate any rules you will suffer the wrath of the department of real estate. Investor agents don't always save as much money as they think they will after paying broker commissions, fees, and doing all of the work. If all I did was investing I would consider canning my license.

None. If I included utilities it would encourage tenants to waste them and create more work for me. I don't see any upside.