Posted by Tom-FL on January 18, 2005 at 21:36:43:
132 abandoned houses in one afternoon? Guess you weren’t on South Beach.
Never buy with a quit claim. Use a quit claim when you sell. When buying, insist on a warranty deed. You lock up your deal by bringing abundant supplies of FAR contracts.
Buying an abandoned homes - Posted by Ray Merritt
Posted by Ray Merritt on January 17, 2005 at 22:31:41:
If someone wouldn’t mind…I would like to know the process in florida in buying a home…specifically an abandoned home…The problem is…is that I have no idea what to look for and how to go about negotiating the deal. Here’s where I get completely lost. Let’s say the owner has a small or even no mortgage at all and I offer say…5k for the ugly house. What do I do next? Would a quit claim deed be necessary? What does a quit claim deed do? In other words…how can I lock the deal right then and there? What would be the most important thing to do to lock a deal? I have this crazy obsession of riding around and looking for abandoned homes. I found 132 one Saturday afternoon and said to myself…I have to see if I can buy some of these. I wanna start now…but have no idea on how to go about doing it…what is the first step in securing the deal. Anyway…any help would be greatly appreciated.
Thank You,
Ray