Just wanting to warn everyone about possible issues with using the provided title services associated with a Hubzu auction property.This is what happened to me on a recent transaction on a fix and flip property that I bought in Northern Kentucky just outside Cincinnati.Hubzu’s contract states, basically, that if the buyer uses their designated title agency (Premium Title / Altisource) for title work and closing then the seller will pay the closing fees and owners title policy.

If the material is not current, like this year by a CPA or a law firm (not a guru lawyer) a government agency or a university/school, ignore it!

It's the ethical thing to do.For what it's worth you may want to try and file an Errors & Omissions claim against your insurance company or the agency who wrote the policy.

Really good agency.

Lastly, 1. depending on where the property is located, you might be able to raise rents and still be inside the rent cap. 2. if the property currently has debt, most Agency debt have restrictions that survive the LURA and may further impact you ability to take the property out of the affordable housing stock. 3.Are you under and HAP agreement?

However I know some bougtique fellows that are not realtors will use their sourcing ability and their rehab ability and bring you a deal at cost with a pretty small mark up  usually less than a sales commish to an outside agency.. so there is that program as well.. need cash for that.. in the old days I used to do the Hardmoney loan to help you buy and rehab but most of us lenders won't do that for newbie or out of state investors anymore risk are to high.But get on line check out all the different companies there are 100's  and there are probably 30 plus viable markets ...

Can I also get a collection agency after him at the same time?

Worst case scenario, small claims court to collect the fines, or collection agency.

When a creditor writes off a debt, they are indicating that the debt is no longer collectible by their efforts and it generally is sold to a collection agency for pennies on the dollar. 

Then the State Agency overseeing licensing endorsed disclosure to be a one-liner on closing documents ("HOA Transfer Fee") with no detail, invoice, limit on amount, or justification required.