Hi BP,My uncle and I want to get started investing, he is looking to get his RE license in Saint Cloud (Minnesota), to access MLS and be able to see houses quickly.

Originally posted by Chris Elliott:He also expressed that as my skill progresses over time, and my need of him goes down, that he would be open to negotiating a higher commission.Thanks for the kind words, Chris...much appreciated...To your point above, keep in mind that "negotiating a higher commission" is going to be difficult from your side if you don't have something in writing, as you will have absolutely no negotiating leverage during the year (you'll already have an agreement at 30% for 12 months).While he may very well intend to up your commission at some point in the future, money has a way of clouding people's judgement and he may decide to choose money over fairness when this topic eventually comes up again.So, if the higher commission is important to you, I'd suggest getting something in writing (perhaps scaled up based on the number of deals you do)...

2) To screen an end buyer - Have a mortgage broker screen the end buyer and/or, have them provide a bank statement prior to signing an Assignment Contract with them and allowing them to make an offer.I like the idea of a clause in the assignment contract which disallows a refund unless there is a cloud in the title.

Wayne,No matter if the second sign contact was sign and recorder the first could cloud the title because they had a contract sign first and it would cost everyone money.Joe Gore

I'm up in St Cloud and also new to the forum.

Court info wouldn't make it into the recorded docs unless a court order transferring or clouding title (lis pendens) was recorded.

Should I put a cloud on the title???

We received different responses from different title companies providing insurance with many being unaware of the wording and all being unsure of the effect it has on the title (if a borrower borrows more than 120% is the title clouded?

But you can figure about $6000 in interest and points if you use hard money.I actually just created a new thread dedicated to the hard money calculation, I figured it would be better to start a new thread than to cloud this thread with too many questions.

My question is the following; is it too late to have the prior property owner sign a quit claim deed in order to get rid of the clouded title?