inherited vs probateInherited means that title has already been transferred to an heir or heirs.A Probate lead indicates that title is in limbo subject to the court process that will determine the transfer of title.

It's a home almost identical to the one I'm looking at which is also in the same neighborhood.

You'll understand state laws, deeds, transactions and settlements, marketing, financing, title issues, appraisal techniques and valuations along with how agents must function, what they can and can't do.

It was just titled and mortgaged to both of us.

Do I have to get a title company involved?

@Luis Plaza -- I have an EM check over at my title company.

For those of you who are title experts (or have experience dealing with HOAs), I got to thinking about a hypothetical scenario today and I wanted to get some outside opinions to make sure my assumptions were correct....Scenario: Suppose I owned a house or condo that was part of an HOA.

You would have to exercise your option and immediately sell the underlying property (of which by exercising your option you have just obtained ownership of) to complete the transaction.The owner of the property would have to sign a warranty deed transferring title to you.

The more you have, the more options you have.You will need a construction team, an escrow company (or closing agent - attorney in some states), and a title company.Having access to REO and short sales prior to them hitting the market is a key leg up in this market, use that to your advantage.

Like the title suggests I’m originally from Marietta, Ga but have lived in NYC for over 3 years now.