OfflineSeeking advice from those who know from experience!
This one was going to be a good one:
Seller:Father and Son responded to my bandit sign.
House 1956
3/1
1137 sqft
(NO COMPS available)My investor friendly Broker determins a BPO= 75,000.00 His Buyer was ready to buy at this price! (comps were determined from my investor friendly Broker he uses an appraiser.
Locked on contract= 53,000.00
Double Closing my broker and I spliting profits.
(The sellers had an existing tax lien 17,000.00)
We took to Title company, they processed a "title-commitment" came back 7 days later, with issues on schedule C-- #5-24 all issues need to be resolved before title insurance can be issued. Some of these just dont seem possible some all the way back to 1942, the house isnt even that old, really? My Broker said to take to another title company he uses, worth a try but no guarantee. Any suggestions would be appreciated! 
"You block your dream when you allow your fear to grow bigger than your faith."---Mart Mannin Morrissey
"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
// Trying again,,,,,
"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
We had a similar problem some time ago on a seller financed buy and hold. Our title co. ran a search the day before the close to check on anything that could pop up prior to closing. The fed had just filed a lien for unpaid taxes from a few years back.
Result> We walked away from a steal of a deal on a 3 family. I told the seller if he could resolve his issse with the fed that we might consider doing the deal. He never called back and we walked away from a huge headache and a great deal.
It just happens sometimes. Time to move on and good luck...Jan