Does anyone know how the process of purchasing a tax lein of a foreclosed house, in which you would never have to pay a mortgage payment? What are the pros and cons about this?
explain what is a strawman? Are you talking about an insider who is working with the grantor so they could split the profits amongst theirselves? This is what i am thinking that what my landlord is trying to do with the house that i am renting an apartment in. Read my other post "possible scam going on in the house i live in" I want to beat them at their own game if possible. She landlord purchased the house for $410k in 2004. The house was flipped three times prior to her purchasing it. This was when i got suspicious and had sent the tax information to my lawyer for her to investigate.
You can always go to the tax sale and bid if you have the cash.
The county tax auction here is at the end of the month. There are 4-5 adjacent parcel which total 6600 acres (Yes ~10 sq. miles). There is a $25M note (a fractional note w/ ~150 beneficiaries) and no one is paying the 1.2M tax lien. I think it a total pyramid scheme / scam.
I just had a conversation w/ my atty about this. It was his opinion that unless I was doing more and higher $ transaction it would be worth the cost to form and maintain a REIT.
Thanks for the response. I am not disputing the soundness of the policy, just the manner in which it was implemented in this case. As I stated in my post, I was not reachable (even by phone) when this property was scheduled to close. I had met with all parties before I left to verify that everything needed was in place.
With their refusal to close, I am now saddled with unnecessary expenses and might lose the house if the seller does not agree to extend. More problems than I need.
I see that you are still getting advice to read your CC&Rs then maybe request reimbursment for your tree.
Whether your tree was dead or alive? I dont know, but i can tell you that I was exceptionally hard and merciless on absentee landlords when i was a condo president. Better save your condo fight for something more expensive.
You can send in your tree requests/issues if you want, but youve been warned....
cjmazur
explain what is a strawman? Are you talking about an insider who is working with the grantor so they could split the profits amongst theirselves? This is what i am thinking that what my landlord is trying to do with the house that i am renting an apartment in. Read my other post "possible scam going on in the house i live in" I want to beat them at their own game if possible. She landlord purchased the house for $410k in 2004. The house was flipped three times prior to her purchasing it. This was when i got suspicious and had sent the tax information to my lawyer for her to investigate.
yes that is what I am referring to.
You can always go to the tax sale and bid if you have the cash.
The county tax auction here is at the end of the month. There are 4-5 adjacent parcel which total 6600 acres (Yes ~10 sq. miles). There is a $25M note (a fractional note w/ ~150 beneficiaries) and no one is paying the 1.2M tax lien. I think it a total pyramid scheme / scam.
Why does the unlimited liability worry you?
I just had a conversation w/ my atty about this. It was his opinion that unless I was doing more and higher $ transaction it would be worth the cost to form and maintain a REIT.
Keep the deposit and move on...if you didnt get a deposit, then your loss, re advertise and move on.
I sure hope its a law. Makes sense to me. Come to think of it, I have closed without being in person, but at least a phone call that day.
You may be inconvienced, but the alternatives scare me
rglover,
Thanks for the response. I am not disputing the soundness of the policy, just the manner in which it was implemented in this case. As I stated in my post, I was not reachable (even by phone) when this property was scheduled to close. I had met with all parties before I left to verify that everything needed was in place.
With their refusal to close, I am now saddled with unnecessary expenses and might lose the house if the seller does not agree to extend. More problems than I need.
Oh well.....
JS.
I thought all home HOA specified neutral color blinds, Mine does.
Well JS,
I see that you are still getting advice to read your CC&Rs then maybe request reimbursment for your tree.
Whether your tree was dead or alive? I dont know, but i can tell you that I was exceptionally hard and merciless on absentee landlords when i was a condo president. Better save your condo fight for something more expensive.
You can send in your tree requests/issues if you want, but youve been warned....
Can you spell G-E-S-T-A-P-O?
By the way... here in Southern California, almost all newer single family residences have a HOA. Unfortunately, t’s just the nature of the beast.
You are still a learned professional, so you should disclose to all parties in all transactions that you are a licensed agent in KY.
[addsig]
When in doubt...disclose.
I was going to. Just not sure if I had to.