All Forum Posts by: Stanley Bronstein

@Kara Beckmann Good job. Sounds like you had an excellent experience.

@Ann North said:

We want to
A) Not end up Owing Money
B) Not have our credit be destroyed with a Foreclosure or Short Sale- we have to buy a house again in our new state
C) Have the Tax damage minimized
D) Not Make Situation worse or more complicated
E) Would like to hold onto house as rental because it's appreciating in SoCal

Ann, if you want to do all of those things, I strongly suggest that you should hire either a tax attorney who has real estate / short sale experience, or a separate attorney who has short-sale experience, along with a knowledgeable CPA who has experience in that area.

You might get some good advice on Bigger Pockets, but if you want to make sure you are covered, I strongly suggest you get experienced legal / CPA help.

@Zoe Lee When you start talking lawsuits, you need to make sure you don't throw good money after bad. The last thing you want to do is start spending thousands of dollars to chase after dollars (unless you think there is a strong likelihood of recovery).

@Zoe Lee It is pretty much the stated mission of the Texas Real Estate Commission to protect the public. Hopefully they will want to open a case in your matter, especially because the property manager is unlicensed.

@Zoe Lee When you contacted TREC, were they interested to know the property manager was unlicensed? You should ask if they might go after him and file a cease and desist (in order to protect the public), from an unlicensed individual who is acting as a property manager in Texas, without a real estate license.

https://www.trec.texas.gov/q-does-property-manager-have-be-licensed

@Wyatt Micheal Chagin It's difficult to give you any type of estimate, as you provide virtually no detail as to the type, nature or complexity of the transaction.

@Adam Philpot There are lots of hoops you have to jump through to get these types of loans, but they can be great, depending on your situation. Make sure you have an attorney who's done a couple of these before, as they'll be able to help you get all the paperwork done.

@Dawit Demissie and @LuAnn Leighton - I usually do NOT recommend quitclaims deeds, except to cure title defects.  

https://www.provenresource.com/quitclaimgonebad

@Robert Wood.  @Greg H. gives good advice.

@Brendan Kortz $1,000 is just an outside estimate. It might be more and it could definitely be less. Think of it as paying someone to cover your bases and to educate you at the same time.

You might need to reach out to an attorney ahead of time, because once you have someone ready to sign up, you need to be able to move quickly. You don't want to have to keep your buyer waiting for a few days while you're finding an attorney and getting them to respond.