All Forum Posts by: Sean Peabody

Hello,

My father is looking to sell his house but wants the profits from the sale to go to me in my name. Is this possible without a quitclaim deed? The property is in NYS if that means anything.

Thank you!

Hello,

I am trying to do a quitclaim deed on a property my father owns in NYS ( not in NYC ). He is giving me the property for free. I was told to draft a deed, complete for RP-5217 & complete form TP-584. I'm not sure exactly how to fill out the TP-584 its amd individual transferring to another individual but I'm confused about what option to choose for Condition of conveyance. Also I'm not sure if there are any taxes I'll need to pay upfront.

Thanks!

@Matt Cartwright I tried to do some digging and really couldn't find anything besides what you told me. So by using hard money if you want to buy and hold the property how would you refi out of that hard money loan?

@Matt Cartwright thank you for that info. So is there any other type of loans that I can use to refi under LLC besides conventional or hard money? I'd prefer any investment property not be in my personal name or on my personal credit but I'm not to sure of my options as I'm new to this.

Hello,

I just wanted to know if it was possible to refinance an investment property out of my personal name and into an LLC?

Thank you!

Hello,

I have a question on refinancing a home. I'm in the process of a subject-to the existing mortgage deal. I will have a quitclaim deed done and the house will be in my name. Is there a waiting period to refinance? Would I be able to refinance out of that mortgage right away or wait 6 months? I would like to do a cash out refi because there is about 60k left on the existing mortgage but the home is worth around 140k and I want to pull out equity to invest in another property.

Thank you!

@Steve Vaughan its a quitclaim deeds. Its been 6 years since we did the deal. All the water bills, tax bills etc come in my name. We do have all i's dotted and t's crossed.

@Chris Seveney Thank you!

@Wayne Brooks Yes it is in my name.

Hello, I own a home in NYS. I took over the property on a subject-to the existing financing deal. The deed is in my name and the mortgage is in the prior owners name and I'm going to be selling it soon. My question is will the profits from the sale go to me or will it be split between me and the prior owners since they are on the mortgage and I'm on the only one on the deed? Thank you!