All Forum Posts by: Douglas Snook

Hi Rob

Over in Bellingham here. Pretty new here too. Looking for info, partners investors someone to talk to etc. Am an attorney and real estate broker. 

Reagrds

Doug

I have not bought anything through them yet but have not had any issues in getting to see the property first before placing a bid. The information can be wrong or missing on the listing. For example, I did a drive by of one property and notice a garage way in the back, not even mentioned on their listing. You do have to do your due diligence, make sure it is a legal three family etc. so you know what you are getting.

I don't know about WA but in MA there is always an owner of the real estate and title passes at the moment of death to someone, even a distant cousin. If you have a Probate Court check both names to see if any estate has been opened. That would give you the name of the administrator that is in charge. Maybe there is no cash for the taxes and they would want to sell. Some other ideas to track down some one who can sell - send a letter to the house or check with the post office to see if there is a forwarding order on file. You said the taxes were behind but does the town have a new or different name or address that they are sending the bills to? Are you able to look at the death certificate? usually a relative has to provide the information such as the deceased parents etc. Sometimes their address is required to be listed. (Again may be just a MA thing) You could try them. Was an obituary published in the paper? That may give a clue as to some current relatives that you may be able to contact. If you can find a relative you might be able to get them to open probate if none has been and then have them ask the court for permission to sell the real estate to you.

Worse case you could just let it go to tax foreclosure and buy it then.

Not sure about FL law but you should be able to approach the owner directly. Sounds like you want a Title Company or lawyer involved to some degree. They can prepare the deed for the seller to sign. The closing can be at either the courthouse (where ever they record deeds in FL) Again a good real estate attorney or title company can help you with all of this. This could be tied up in an estate and in MA that means you need Court permission to sell and have to deal with the administrator of the estate which may or may not be the son. How much you may need to pay for an attorney or title company services will impact your offer. You may want to contact them to get an idea before your come up with a definite offer.

Good Luck!

Ask in advance if there are tenants and if there are leases, what the rents are etc.. You may not be able to see the lease until you make an offer but at least you will know. If the property is vacant, check Craigslist etc to find out what you can reasonable expect the rent to be, don't just rely on your realtor but ask around. I don;t know what they have in New York for landlords but in Boston you can get a book about being a landlord, lease agreements and other forms. You want some of those NOW so you are familiar with them and the landlord/tenant law. 

Something to find out about on your viewing is how the utilities are set up. That will effect what and how the tenants are charged. For example, is there one one oil tank and furnace that both units share? Is there only one electric meter? In MA there should be three meters for a two family, one for each unit and one for the landlord for common areas. Can these issues be fixed or changed, yes but its something to know going in.

Hi Josh, just over the line in Bellingham MA. I know what you mean about trying to make meetings. I have child pick up right when they are supposed to start.

Maybe those of us around here could have our own Saturday meetings (or Sunday meetings)? Just a thought. New here to. Am an attorney and have my MA broker's license. Looking for partners, investors etc too. Feel free to contact me

Hello all

Looking to see if there is/are any RE Investment Group in South Metro Boston area. Norfolk County, Bristol, Southern Worcester area

Absolutely contact the daughter right away. She may have some kind of power of attorney or know who does and can handle her mother's affairs before she even passes. The family may want to keep the apartment (paying the rent of course) for a month or two after she passes while they collect what they want or clean it out. If no one has a POA you may have to wait until an estate is opened and some one is in charge.

Be careful about letting anyone into the apartment unless they are the POA or handling the Estate or you may end up being responsible for all that missing jewelry!

I signed up with them too. Have not done any deals with or through them but have had some long conversations and got a much better idea of how it works. I would stay away from the vacant lots unless it is a place you want to be and get into building a home and then selling it at some point. Also be prepared to spend more then just the back taxes, at least in Florida. There is a cost to foreclose on your lien and that may include paying addition back taxes. For example you buy the 2012 tax lien and then you have to foreclose but you would also have to pay the 2013 and 2014 taxes. One example I ran through with them in Florida the cost of the lien was about $1000 but we figured it would cost about another $8000 to go through the foreclosure and actually end up owning the property outright. This was for a condo that might be worth about $40-50,000.