Los Angeles Real Estate Investors say, sellers have to produce a clear title before the transfer of real property is conducted.
Be sure a title search is made by an attorney which would be done in judicial states or the title company themselves.
The seller can’t do this intentionally, but every now and then, they try to transfer a property with an actual lien.
There can be times when sellers having a dispute with the IRS, they can put a lien over $100k on a property.
Then what the IRS does is cut a deal with you where you can accept an offer below the lien amount.
Los Angeles Real Estate Investors – Dealing With Bad Communication
Los Angeles Real Estate Investors say, investors should not assume anything and always be thorough in a transaction.
It’s important to have a good base of communication in place, if you don’t it can easily kill a deal.
If possible, try and walk a seller through your contract.
This may take some additional time, but in the end it can eliminate many problems on the back end.
- The Contract Process
- Purchase Pricing
- Money Deposit Procedure
- Inspection Periods
Getting Cold Feet
Los Angeles Real Estate Investors say, this is something no one has control over.
Everyone beats themselves up about a seller wanting to back out from a deal.
Most sellers understand that prolonging things and not take action is a bad sign.
When you sell a home, it’s no different.
This is especially true when they’re emotionally attached to the property.
Sellers want to change their minds.
This is why it’s important to actively listen when talking with the seller during the initial conversation.
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