Upcoming special assessments for a roof that needs to be replaced or other capital improvement can kill your deal and once you're in, you're stuck with the bill if you don't negotiate the seller to pay it.And last but not least, if the building/association drops to less than 70% owner occupied units, forget about getting a loan in the development until the percentage goes back over 70%, which can kill your exit strategy.I don't mean to rain on anyone's parade, just be careful out there!

It sounds like you will likely have to go to a court to get a judgement on him prior to being able to send it to a collection agency.

Rain,Very pretty name.

Here are my questions: Has anyone out there been sued that has their property in their personal name and didn’t have their insurance cover the attorney fees and/or any judgement?

Be prepared for rain :)And thanks for listening to the Podcasts!

I have read that I need to have a "Pay or Quit" served and then a Dispossessory writ served and then the court makes a judgement and then 7 days later I can evict, but I think I may just pay an experienced lawyer to do it the first time so I don't do something illegal on accident.

We just finished a sale and the home was very well received, we had 6 people come out in freezing rain to see it and got four offers one was an escalation clause contract.

(No judgement, I've climbed out of it from student loans)4.

Make a judgement call about what you feel is the most similar on all levels.

Eventually the court may find against the LLC owning the house, and to satisfy the judgement, the house is seized and sold.