If you purchased owner's title insurance but did not get a copy of the title policy in the mail, the company you purchased it from will be stated on the HUD-1, and file a claim with them asap as I think the lender commitment documents stated they (and I) had a year to file if the closing wasn't done properly.

Once you decide on what you believe the value to be, you can submit this (best done with proper evidence such as appraisal by registered appraiser -preferably MAI or SRA) to the title company as a insurance claim.

Originally posted by Brian Burke:You can ask, but I suspect that you'll come up with little cooperation in that regard.I agree and going back to the point that you failed to properly perform your due diligence and run title, they will say it is your own fault.

You'll also have responsibility to ensure that everyone is insured appropriately to protect yourself and the investor/client/homeowner.The other option is to serve solely as a "paper contractor" or "construction manager" (same thing, different terminology).

I would verify that the accessory unit is legal before purchase and ensure it can be licensed.

They don't have the contracts to use, they don't understand the process, they don't know how much to accept as an option consideration, and They Definitely don't know how to properly qualify a tenant that will have the ability to purchase in the near future.

What they did is proper, paid off the old loan with the new one and a new dot.

If for any reason, you and him are not on the same wavelenth, you can be rest assured, you will have to really really go the extra mile to ensure all the i's are dotted and t's are crossed during the various phases of a deal.

Replacing toilets with 1.6 gal (not the cheapest ones, you can get good ones for about $180 that also save you money and still flush properly) low flow shower heads, etc.

I believe that for wholesalers to serve investors the best need to be able to properly estimate rehab costs, estimate ARV, and analyze a deal just as if they were going to purchase it themselves.