All Forum Posts by: Vera Log

Could anyone please recommend an inexpensive and reliable dumpster rental company. The key work is inexpensive/budget. Preferably if you personally hired them. Thank you.

Hi community, I have what might seem like a simple question. Let's suppose a person is willing to sell a property that needs significant repair, but he is willing to sell for cash only. What might be the reasons for this and why wouldn't this person be interested in "mortgage buyer"?

What problems/issues might be associated with such a cash purchase for the buyer. They buyer has enough funds to buy with cash but is slightly alarmed that the seller is only looking to sell for cash. Thank you.

Thank you for your answer. I have a follow-up question, though. How does one get title insurance on a property bought at an auction? What is the process? When does this need to be done? Immediately after you buy the property at an auction or when the deed is transferred to your name as a buyer? Thank you

Hello fellow investors,

I was researching a certain property being sold at a sheriff’s auction and came across the following scenario. The property is a duplex. The mortgage and title is in one gentleman’s name.

The chain of title did not show any obvious gaps or anything obviously problematic.

However, further research showed that the man is now deceased.

I am not sure, in a scenario like this, would not the property be inherited by his heirs through probate or a will. Would you attempt to bid on such property at an auction or would you find this scenario problematic knowing that there might be claims to this property from the heirs?

Thank you.

Thank you for your answers. Then, I will follow up with another question. The house I described in my original question may or may not be appraised for $40 K. We think it could be sold for $60-$80K but as far as appraised value, we are not sure.

So there is another option...We have a condominium worth around $80 K that we are most definitely selling in a year. Is it possible to get a mortgage on that property , even though we know that it will be sold in a year? We are confident that it would be apprised for at least $50K.

When this condo is sold in a year (by then we would have had a mortgage for just one year), we would have to pay the bank loan back in a lump sum? I apologize if my questions sound too ignorant to you, but that is why I joined this community – to learn.

Hello fellow investors,

I have the following question.

We own a rental property (single family home) which was bought at a sheriffs auction and is being rented out currently.

The full price  was paid  for this house, so there is no mortgage being paid on it.

Is it possible to get a mortgage on this house as a collateral and what kind of mortgage we would apply for in this case?

The purpose of getting a mortgage on this property is to invest the funds in the next investment project.

Thank you.