OfflineShould I depend on the lender's title search or have my own title search after I've gotten the property under contract? Unknown variable is I don't know when the bank's title search was done.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I'd get one done myself just to be on the safe side. It is worth a hundred or so dollars in the long run.
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
I had ask KW agent for recommendation of title company this what he said "More than likely the seller/bank has conducted a preliminary title search. Therefore we will have to use there title/closing company to close. The contract states that they must convey to you good and marketable title. If there are any title issues with the property, they will be cleared up prior to closing, by the bank. I think it would be a waste of your time and your money to conduct a title search prior to getting it under contract". I want to know what others have done. I wouldn't want any surprises (day of closing) if my offer does get accepted.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I would get it under contract. Once you have it locked up, make sure you have your escape clauses, then I'd get the title search done on my own to be on the safe side, but don't get it if it is not under contract yet, wait until it is finalized then have one done. Good luck and keep us posted.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
I sold a property some time back in 2005. My title company made me pay all outstanding bills for that month owing on the property including taxes that I did not even owe, but still had to pay before I could close on that deal. However, at the end of the year the taxes paid were all returned to me in the form of a check. The seller's title company is supposed to ensure that the property is free and clear of all debts and liens. If all is not possible the buyer must be informed to see if he/she still wants to proceed. However, as Jeremy says you would never know, seek some advice from the title company you will be dealing for further assistance. Good Luck and Gos Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
@Sandra:
Even though I will be potentially purchasing the house before taxes come due next month; does that mean the Seller (lender) has to pay the taxes for this tax year or does the buyer have to pay the taxes for this year? How would the closing costs, work out, if the buyer is buying the house with Cash instead of financing it through a Bank?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Well, they let me pay the remaining taxes for that tax year ending in December even though the property was changing hands. At the end of the year they income tax office sent me a note on the refund to claim on the tax return. Since the property was in Baltimore, MD, I was required to file taxes in New York and Maryland. As a cash buyer, you could work with the title company to take over the taxes immediately if that is what you choose to do. However, as a cash buyer, you may want legal representation to alleviate any problems that may arise. If this is a good deal go for it. I was happy to clear all debts to avoid the buyer having any issues after purchase, that just how I am. Good Luck.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
is having enough money when I go to closing table but possibly having some monies left over to purchase those things that essential before me moving in. What costs can I ask the lender to pay if the property is a REO?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Alana, even if it is an REO, you could still request closing cost part of total and renovation based on inspection. With this, that could put you in business. Good Luck.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
So if I see a house were List price is $12k and I offer 35% of that price would I ask for % that I didn't pay back as seller concessions or would I offer them their full asking price than ask for a certain amt of that back as costing costs? I'm confuse as to how go bout writing up the offer.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Hello everybody,
Control is your friend,So throw the coin away and take the chance of your life!
It is your call what happens.
I have found something out in my deals of life...There is no correct,ANSWER!!
I only bring this up because,When i was younger! I asked people of age...What would you do different?
Nobody could give me an...ANSWER!
Atlcamel,It is your call,Friend!
P.S. We control the action!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Invest in yourself!
I understand it's my call I'll just ask my agent to give an ideal of my closing costs.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.