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re: Buying a lot by owner and not financing, help
Posted on 4/21/13 at 9:08 am to Blackbeard
Posted on 4/21/13 at 9:08 am to Blackbeard
quote:
Contact a real estate title company in your area...they will have the abstract done( to protect you from liens attached to the property) and will provide the necessary paperwork to transfer the property.
I would be shocked if an empty plat has more than one mortgage, which being in foreclosure, would satisfy said lien.
Only thing i can see is a mechanics lien on would be that survey, find out who provided survey and contact them before closing.
2
Posted on 4/21/13 at 10:24 am to ItNeverRains
I would be shocked as well if there is more than one mortgage on a lot; but I would be more shocked finding out later that there was another encumberance affecting the property and my ownership interest was reduced or nonexistent.
Always have a title search done before buying any immovable property even if there is a foreclosure or sheriff sale.
Always have a title search done before buying any immovable property even if there is a foreclosure or sheriff sale.
This post was edited on 4/21/13 at 10:25 am
Posted on 4/22/13 at 11:51 am to ItNeverRains
In Louisiana, any personal liens attach to property owned by that person...which means if the seller or whomever donated the property to him have judgments against them in the parish mortgage records...then they now attach to the property. Contact a title attorney...they handle this everyday.
This post was edited on 4/22/13 at 11:53 am
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