I found a 'for sale by owner' house ($75k) and was considering just going to the courthouse and doing a warranty deed.
Is there any issues I should be aware of with this approach?
I called a title company and they said a warranty deed wouldn't mean anything unless they do it and if the guy decides to take out a $100,000 loan against the property the day before, I would be responsible.
Anyone ever have any experience with this kind of thing? The title company seems to insist that I go through them and get a clean title and title insurance, but it seems kind of pointless if the warranty deed will do the same thing.
go pay the $3-500 for a consultation with a israelite property lawyer. roasties at title companies are as bad as real estate agents and only know how to find bureaucratic paperwork.
Not even sure what a warranty deed is. There's always something new to learn in real estate
>a warranty deed
I can help you there anon. Among other things, a high quality warranty deed will include a "Covenant of quiet enjoyment". You are in favor of quiet enjoyment, aren't you, anon?
I like this. Tell me more.
OP You should be going through county tax rolls once you've decided where to locate. Someone didn't pay their property taxes on an abandoned home or business, and now it's yours. Don't wait for people to list; now you're competing with unlimited fake jmoney.
>OP You should be going through county tax rolls once you've decided where to locate. Someone didn't pay their property taxes on an abandoned home or business, and now it's yours. Don't wait for people to list; now you're competing with unlimited fake jmoney.
Any good online sources to look at for these that aren't scammy websites?
> how do i do it?
A) Figure out what area, and then which county/ies, you want to move to.
B) Contact the county office and ask them about it. They staff those positions for a reason.
A&B. Simple as.
There are anons on here, that have more real estate experience in a pinky fingernail than I have in my whole body. There's this thread, and a thread about self-building a house in a metro area, where a few reported-in, that what I mentioned was already being done in that area, as it's a much more competitive environment, and as such there'd be little to no chance of an outsider having success.
There was no question as to the validity of the approach - overlooked was the advice to not to do it in any metro area, at all. It was for use somewhere far away from the metrohomoplex. Normal, healthy people should not be anywhere near north american cities. If someone doesn't have that sense, they are beyond the help of this board.
I see several properties that look abandoned in this area and surrounding. I know a guy who recently purchased a whole restaurant in a prime location for retail business for an unbelievably low sum. Listed properties have too much visibility, therefore there is too much competition.
Why would you use a 3rd party website with random results, when you can call the tax office at the local county you are interested in? They are the ones you'd have to deal with anyway.
>Why would you use a 3rd party website with random results, when you can call the tax office at the local county you are interested in? They are the ones you'd have to deal with anyway.
Because I would like to see what is available around me before having to talk to anyone. If there is something nearby I'm interested in then I might actually be persuaded to call up the dumbfricks at the tax office to try and deal with them.
I try to minimize interactions with government employees if at all possible.
>I try to minimize interactions with government employees if at all possible.
One of the rarest but best joys in life is having to deal with a government employee who is helpful and competent. Or any large organization for that matter. Someone who speaks english without an indecipherable accent is becoming rare as well: "could you repeat that?". "I'm sorry, I have a really bad connection, could you repeat that very slowly". "GODDAMNIT IS THERE ANYONE THERE WHO SPEAKS FRICKING ENGLISH"
If your attitude is shit, which is kind of evidenced by your post, you will always get shit service.
If your attitude is not shit, if you're not a victim/victimizer complex (j or one of the golems they created out of your people), if you are sovereign, you come in there with dignity. And if they are having a bad day - diplomacy.
THIS IS THE COUNTY you want to get a house in. If the clerk is shit, it tells you a couple of things:
Have you tried someone else (same county) that is more competent?
Does it reflect on the type of staff in general, and so why would you want to get property in a county so-run?
IF the staff and/or politicians are shit, maybe you will get a screaming price for the property, because no one else wants to put up with the buffoonery. Or, and... you should have several 'plan B', 'plan C' counties.
Start researching these areas, drive around in them. Get a feel for them. Talk to the locals.
No one needs an egotistical jerk.
>having a nice open source database that a person can search for available properties to see if there are any they are even remotely interested in before wasting their time as well as everyone elses time at the courthouse is a terrible idea you egotistical piece of shit!!!!
Uh ok.
> more gay bla bla bla, because you're not man enough to carry on a conversation with a clerk.
Is there any other moron genes hidden inside you, or is that about it?
It's just another way of saying you own the home. A warranty deed is a document which transfers ownership from Person A to Person B.
There's supposed to be a guarantee of clean title in the document, however if the seller skips town there's no guarantee the buyer won't be stuck with a lien or mortgage that was undisclosed and have to go through a civil court case to get it remedied -- IF the seller can even be found. There's also no real guarantee that Person A actually owned the property and had the right to sell it, other than a signature on a piece of paper which is only as enforceable as the county courts can make it. Considering how real estate scams of this nature have been in the news for a while, it's probably better to go through the attorney/realtor channels.
>There's supposed to be a guarantee of clean title in the document, however if the seller skips town there's no guarantee the buyer won't be stuck with a lien or mortgage that was undisclosed and have to go through a civil court case to get it remedied -- IF the seller can even be found. There's also no real guarantee that Person A actually owned the property and had the right to sell it, other than a signature on a piece of paper which is only as enforceable as the county courts can make it.
This is pretty much the entire point of getting title insurance from a title company.
OP, I bought my current house through a warranty deed-- owner financed and using a title company. I have no complaints, and the title company cost about $400. If you really really really don't want to pay for the title search and insurance, then you could get Blacked if the seller had any loans against the property or had siblings etc that claim an interest.
Is the idea here that you can just go to a judge with a check for the asking price, and walk away with ownership?
What you need to do is get a purchase agreement in place with the owner (the state or local real estate association will have something you can use for the contract), then have a title company execute the agreement.
Did you know since the covid forbearance stuff, that there are sneaky little second liens on the end of some mortgages which aren't even on the title? All those mortgage payments they didn't make? It got tacked onto the end of the mortgage invisibly. It's a huge scandal and it's all going to blow up in the news in a few months when banks start coming round for their money.