All Forum Posts by: Roland Thomas

I recently seen taxes available on a few oil leases, I have no idea what that means, can someone help? Have you ever purchased oil lease taxes? What were the results?

@Mark Brogan does that mean you can buy the lien from the city, foreclose and obtain the deed?

Hi BP,

I have come across a vacant property, that was from a foreclosure sale, that I think got foreclosed again and it has a recent lien the city placed on it, because they cut the grass and I heard we can purchase those liens. Has anyone heard of purchasing city liens not tax lien? Can someone point me in the right direction if there is one?

WOW!! Excellent story!!! Super excited for what you doing in your business! I am taking notes.

Originally posted by @Rick H.:

Title company is an insurance company. They insure risk. 

Title companies insure from the last insured transaction, called a "starter" and utilize reciprocal arrangements with prior insured transactions"

In order to satisfy a title underwriter the a secured debt has been paid and eliminated as an exception, besides an affirmative response from the lienholder, including a demand with a zero balance and release and satisfaction or reconveyance, you can alternatively move the risk elsewhere. Here's one way:

Indemnify title company by signing an agreement whereby you take on the risk. I'd inly do this if it was a super bargain deal and the risk made sense. The seller might be able to bond around the allegedly paid debt, at cost and risk to them. After all, they stand to benefit from the sale.

Hey Rick,

Are you saying to sell with "Recourse" on me personally if anything comes back in the future? Or or you saying something else? Please give me an example, I am trying to close these deal this week and if I can come up with something you will be a life saver!

Originally posted by @Wayne Brooks:

Simplest would be to track down the seller who carried that note, and get a release/satisfaction from them.

 That's what we did and the original owners are not being responsive. 

Hey BP! I am trying to clear title on a property and everything has been cleared expect the original Seller Carry Back Note from the 90's. The current owner paid them off, but she doesn't have the documentation. It is too old to pull the archives from the original Title Company. What could I do to clear title, or creatively get around this?

I have been blessed to find numerous opportunities in the Houston area, but I wanted to get a feel of the folks here on BP since BP has been so great to me educational wise. 

Are you a buy and holder or fix and flipper? 

Think about you last 5 deals...what zip codes have they been in and what is was your criteria?

@Jeremy HunsickerHumm...haven't thought of it that way. Thanks for the tip!

@Andrew Meyer Excellent, will do!