If title insurance already protects against:
- survey errors
- legal description errors
- negligence
- forgery
- liens

and negates the need for:
- zoning compliance certificate
- tax certificate
- hydro/water/gas certificates
- law society levy

what value does a real estate lawyer add on top?

Is it just for wading through the legalese in the Offer and the Agreement?

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I just had a tax lien filed against my husband and I and I’m worried that I will never see the money that we just settled on from the insurance company regarding a car accident? Can anyone tell me if I will get my money or not?
We were paying on our back taxes until I and my husband became unemployed.
I’m just worried that somehow they will get our insurance settlement (not much) before we even see it.
We need this money to pay bills or we will be homeless and no way of paying bills

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I am graduating college with no debt and will probably be working at a large defense company making a good starting salary. My question is about investing my hard earned money. Which way should I go, get into the market try to research a mutual fund that has low fees and is emphasizing on buying undervalued stocks in the long term or try to get into a foreclosure that isn’t trashed in a decent neighborhood and try to fix it up a little. I would like to do both. I am eligible for a VA loan that requires little down and locks in lower fixed rates, but I think there is some stipulation with insurance, but I am not looking for this to be a long term house. I will likely sell it once the market rebounds. I am also going to try to start a company on the weekends that researches viable tax liens. Any advise would be appreciated.

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I purchased a property 7 years ago and have never been late on my mortgage, insurance or my city taxes. I have no other liens and this is not an IRS or federal issue at all. An investor bought a tax lien certificate from my county from taxes that I didn’t realize I owed. I moved out of state shortly after purchasing the property and never received anything from the county in 7 years. Now I am getting a letter from the investor’s attorney that I owe approx 6 times what my normal tax bill amount is (after adding interest and fees). The property is actually in a real bad neighborhood and needs a ton of work and I have not been able to sell it now and I’ve been trying for 6 years. I still owe about ,000 but if they were to foreclose and auction it I doubt they would get more than a couple thousand for it.

My question is 1st of all, can they foreclose on it and if they do, can I buy it back for let’s say ,000 plus pay off the tax lien, and save myself over ,000 plus interest in the long run? If they go along with this scenario would it be legal?
It has been over 2 years since the tax lien certificatge was sold and I can no longer pay the county because my delinquent taxes were paid off by the 3rd party investor. I don’t owe the county anymore and I’m current except for that one year (2002).

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My fiance and I have plenty of $ for a down payment on a house, but can not obtain a mortgage. A seller is offering financing @ 8%, and after 1/2 of it is paid (30k) he will give us a deed for trust. If we fall behind and don't pay for 30 days, he pockets all of the money we have invested and we're evicted. He has offered to pay taxes/insurance and just add it on to our principle.

He said that he has "been doing this all of his life". What do you think?
We would be dealing w/a real estate attorney as well (for the documents).

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I am very interested in getting into the real estate market. I had planned to deal with sub prime buyers. However the recent news about the sub prime market has changed my mind. I have an idea, and I am curious what some real estate people think about it! I have the credit score to be able to invest in real estate properties. I am thinking that I can finance residential properties, and then turn around a finance them myself to a buyer via a contract for deed, or something similar. I am figuring I can clear 0-0/month per property.

Here is what I think are the benifits…

1.) I don't have to maintain the property like I would if I rented it.
2.) I get a down payment so the buyers are more likely to stay in the house, and should have a lot higher retention rate.
3.) I build a residual monthly income.
4.) If I do take back a house, I refinance it for another 30 years
5.) The buyer will be responsible for all taxes, insurance, etc.

So what do you think? Good or Bad Idea
I think the people would be more likely to stay as they would be buying the house, and they would have an initial down payment tied up in the house.

Personally if I have to take back the house thats fine, I just don't want to do it every couple of months like with renting…I think doing it this way most people would stay in the houses 5-7 years before they default.

I know my uncle made millions by financing land like this in south georgia.

I also think it comes into investigating the people your selling too, check them out and make sure they half way decent people with a good job history. I also plan on staying with the lower end houses to start with, so I don't have so much tied up in each property.

But, please keep the opinions coming…and thanks!

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