All Forum Posts by: Joan C.

Thank you, Naga,

I was try to figure out what I watch out for if I buy directly from a wholesale, or what should put on contract when purchasing from whole sale.

Hello,

I was approached by a whole sale investor, who is getting the property from bank directly, the price looks better than REOs in the market, but I am not sure if this kind of property has free and clear title as regular REO? and if the tenant stay, I need to evict the tenant.... how much discount (after repair) I should consider? 20% to be worthy of the risk?

What list of things I need to be watch out for if I engage in this kind of transaction?

Thanks in advance for valuable advise.

hi,

I am in contract for an approved short sell, but seller's estranged wife (she is not on the title) won't corporate, therefore I can't see, inspect or appraise the property, I don't see any motive for seller to evict his wife and children.

what can buyer do to move it forward? if I just wait, will contract expire after a while?

Thanks,

Thank you, Bill.

Good point, yes, we want to have inspection contingency even seller provides inspection report ad disclosure.

To my understanding, they don't need to go through probate, since the deceased owner had living trust, will preliminary title report show if it has clear title?

Hello,

I am thinking of making an all cash offer for a trustee sell (owner past away, the executor of trust will sell the house), the trust executor will order inspections (termite, general inspection), should I still make inspection as contingency? do I need specifically add title contingency? what else I need to pay attention to this kind of sale? Do I need to see some documents to make sure the trust executor is the trust executor. The property is located at San Jose, CA

Thanks in advance for your inputs.

Cool, thanks for the advice...

first deal..

Thank you, Marie,

Yes, you are right about the long wait...it is same deal I posted earlier, the lender approved 3 weeks ago, but I have not been given a chance to inspect the property, since seller's divoicing wife does not cooporates, we will have to wait until she moves out.

Besides, what do yu think about the divorce settlement, can escrow, lender or I request the settlement detail, to make sure the wife does not own part of property? she was not on the title.

Good advices, It definitely is my best interest to acquire the property w/o the tenant... it would be stressful that I would have deal with eviction for my first rental property.

there is no rental control where this property is located..

Thanks, everyone,

I was told that it might cost delay on closing if there is anything serious relates to it...

I have been asking escrow to find it out now, but no answer...

Hi, on the prelim title report, there is item that seller name search found as following, but escrow has NOT given me answer about it, I am afraid of that it might be a lien which might shows up later, is there anyway I can find it out by myself?
___________________________________________________________
Any defects, liens, encumbrances or other matters which name parties with the same or similar names as [/b][i]Seller's Name(2 MATTERS). The name search necessary to ascertain the existence of such matters has not been completed. In order to complete this preliminary report or commitment, we will require a statement of information.
___________________________________________________________

Thanks a lot in advance...