All Forum Posts by: Nancy H.

You are on the right track, talk to banks. Show them your history of savng 2-3k each month.  Nowadays those who have credit do not have the cash for the down payment.  Keep saving that money and be patient. 

This is an old post but just had deal that got away :(  I was comparing the comps over and over.  It was selling for 67500, needed about 20k at the most in rehab, and comps are 125k-135k.  I was going to buy and hold a few years move in then sell this one.

Then a few weeks ago a house that sold for 23k that can rent for 800...looked at it and got back after the weekend and it was sold by then.  Trying to not get down and be patient.   It totally SUX though.  Disappointed--but I hope that this means I am going to be ready when the next one comes along!! 

Welcome! 

You sound like my husband and I! There is a REI meeting in Tulsa every month. I found it through meetup.com. I don't know all the details but I beleive they meet every 2nd Thursday. We just attended our first meeting and they had a speaker on lease options. Going to try to attend the next one to see what that one is about. We are currently looking for our 3rd rental and our next rehab home we plan to move in then maybe sell in two years.

Please send me the details.

What does the following mean?  This is in a property I would like to bid on Auction.com.  Does this mean that I have the option to buy title insurance, before I close?  What are the steps in getting title insurance?  Any advice would be appreciated.

• Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property). If buyer does not purchase title insurance, buyer will receive a Quitclaim Deed or equivalent, with no express or implied warranties of title.

@Brent Blackburn

Well when we asked there at the county treasurers office that is not what we understood, but maybe they were just referring to the Tax Liens?  We might have misunderstood.

 What about other Liens?  We were interested in going to an Oklahoma Auction on Monday BUT from the huge list to the few we narrowed it down to there were other type of liens against the property not just the tax -- it is my understanding the buyer incurs those liens.  Am I wrong?  Did you research this info? 

Hi Brent, my husband and I narrowed it down to 1 property out of the huge list we started of with.  My understanding is that any liens against the property will go to the buyer, so my husband went and researched each of these and they all had liens except one that is a duplex, but only one side is selling.  We are not comfortable nor do we have experiences with duplexes so we decided not to bid, but he will attend to see how it goes.  Good luck to you!  Did you research against liens? 

Thanks everyone!  We have been researching a list of houses, a lot of them the taxes have now been paid.  On the other ones the clerk will be able to tell us if there are any liens, but I also plan on researching county records.  The auction is next week, so who knows if we will even bid.  Any suggestiosn?  I was thinking just really low ball offers for now. 

Ok so my hubbie and I have just rented our 2nd house and we are looking for a new way to find our new temporary home that will be our next rental.  We want to participate in the tax auction, where land owners have not paid their taxes and are listed in the paper.  How does that work?  I understand where to look up taxes owed, but what if there is a lien against the property? 

Do I go to the title company and review myself?  Am I responsible for liens or can I back out if it has a lien?

Anyone participted in these auctions?  Plan to use cash that is all they accept.

Help!