All Forum Posts by: Vincent Incopero

@Ben I. I would give an initial consultation for free or for a very fee depending on how much time I anticipated that consult taking. That being said, I cant speak to what another attorney would do. Best of luck. 

@Ben I. contact a WI Real Estate attorney that is familiar with the contracts that are used and the various clauses. 

This is a fact intensive situation and contract provision specific question that you are throwing out to the peanut gallery. 

IMHO - BP is like WebMD, that is, its a good starting point to get an idea of what is going on, but WebMD should never be relied upon or otherwise used as an alternative to the advice of a licensed medical professional. 

@Brya Freeland - Legal advice should come from the attorney that you are working with and be should be confirmed by your accountant so that meshes with what they are trying to do. 

@Anthony MaiI will bet my personal reputation, coupled with the wristwatch of your choosing, that this is a legit 3 unit. No violations or red flags disclosed from my research. 

I would agree with the conclusion of @Henry Lazerow, although for different reasons, and suggest that you bid with confidence knowing that that this is not going to be an issue with the 3rd unit or a headache from a violations standpoint. 

@Nick Weston - A house hack may be a good play as housing is ordinarily a fixed expense with the IRS giving favorable treatment to the gain on the sale of one's principal residence, exempting that amount up to $250k if you are single and $500k if married provided you have owned the property for 2 years at the time of sale. 

@Celivette Saez, I am extremely familiar with ADC. You can bid with confidence that title will be marketable at Closing to allow for resale. Often times, ADC allows purchases to be financed. I suggest that you get preapproved so you are ready to go if your offer gets accepted and hook up with a knowledgeable real estate attorney in advance so you have your ducks in a row if you are the winning bidder! 

Best of luck!  

@Celivette Saez are you referring to Judicial Sales, or online E Buyer auction platforms like Auction.com? There is a drastic difference. 

As @Eudith Vacio stated, Judicial Sales are cash intensive up front as the winning auction bid is due in full within 48 hours of the end of the auction and it is wise that you work with an attorney or a title insurance professional to make sure that title to the property is marketable before you bid. 

@Hanna Parker BackUp offers are just that. Second to the finish line. After waiting 30-45 days with the first Buyer, it is not often that the Seller will move forward with a BackUp that takes 30-45 days to close when the first Buyer, in most scenarios, only needs a few extra days/week. 

@DuBois Othero Toy You should be looking for an attorney, as opposed to a title company. 

@Dan Taylor 

1. Referrals from those you personally know who have worked with others in the past 

2. Recommendations from platforms like BP

3. Reviews on Google/FB/Yelp