InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I'd plow on... Posted by Ward-CA- on February 11, 2004 at 8:11 AM In Reply to: Not sure I have a good contract... posted by Stu on February 10, 2004 at 2:55 PM : I signed a contract with a lady to buy her house in DC, and it turns out I have to beat a tax sale foreclosure on the house because she hasn't paid taxes in years. In exchange for signing the deed, she would get 1/2 of the profits of the house after I cleared everything up for her and sold it. I would have to put no money down except for lawyer fees which will come out to about $5,000 (for other issues). : The problem is that someone else has now claimed to have a contract with the current owner that precedes mine. The owner denies ever signing anything - she says they offered to help her over a year ago, but never got anything done. When I spoke with this other interested party, he refused to allow me to see the contract because, he said, he was worried I would find ways to beat it in court. : The taxes now have to be paid soon. I need to act quickly. And I don't know who to trust. : Is there a way I could have the title put under the name of Title Holding Trust, or an LLP in case there are title disputes? Will this effect my credit in some way? How could this come back to haunt me and what can I do to protect myself? : Thanks for your help. : Stu ======================== Stu, If the owner unequivocally claims you’re the only one she has actually contracted with, and the pretender won’t show you otherwise, then I would believe the owner. If the pretender really did have a solid deal don’t you think he’d want to show it to you to convince you to scram? The fact he thinks showing you his paperwork would weaken his claim to the title would simply embolden me. I’d proceed as if the pretender didn’t exist. Hope this helps. Follow Ups: Re: I'd plow on... Stu 5:29 PM, 02/11/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I signed a contract with a lady to buy her house in DC, and it turns out I have to beat a tax sale foreclosure on the house because she hasn't paid taxes in years. In exchange for signing the deed, she would get 1/2 of the profits of the house after I cleared everything up for her and sold it. I would have to put no money down except for lawyer fees which will come out to about $5,000 (for other issues). : : The problem is that someone else has now claimed to have a contract with the current owner that precedes mine. The owner denies ever signing anything - she says they offered to help her over a year ago, but never got anything done. When I spoke with this other interested party, he refused to allow me to see the contract because, he said, he was worried I would find ways to beat it in court. : : The taxes now have to be paid soon. I need to act quickly. And I don't know who to trust. : : Is there a way I could have the title put under the name of Title Holding Trust, or an LLP in case there are title disputes? Will this effect my credit in some way? How could this come back to haunt me and what can I do to protect myself? : : Thanks for your help. : : Stu : ======================== : Stu, : If the owner unequivocally claims you’re the only one she has actually contracted with, and the pretender won’t show you otherwise, then I would believe the owner. : If the pretender really did have a solid deal don’t you think he’d want to show it to you to convince you to scram? The fact he thinks showing you his paperwork would weaken his claim to the title would simply embolden me. : I’d proceed as if the pretender didn’t exist. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455