House With $160k Equity, But Title Problems.

What is your take?

Would you, as an investor be interested in a house
with $160k equity, that has title clouded by a lawsuit?

Comments(5)

  • billinseattle1st April, 2005

    Depends.
    What is home worth, what is debt and what is the lawsuit about? Does it have a lis pendens that is clouding title or is it just the suit?

  • RE_investor1st April, 2005

    Quote:
    On 2005-04-01 22:44, billinseattle wrote:
    Depends.
    What is home worth, what is debt and what is the lawsuit about? Does it have a lis pendens that is clouding title or is it just the suit?


    The home is worth $630k, the debt is about $470k. It has a suit, claiming fraud clouding title. The house was taken in pre-foreclosure. The Homeowner is trying to take it back. No lis pendens.[ Edited by RE_investor on Date 04/01/2005 ]

  • sanjosee3rd April, 2005

    the HO is probably going to claim she was taken unconscienable advantage of in the transaction. CCC 1695
    I would try to negotiate with the former HO & find out what she wants. Maybe you can strike a reasonable deal with her & still profit. If she is on a fixed income,getting a quick & sure cash settlement now may be very appealing compared to a drawn out legal battle.

  • ArtieFort4th April, 2005

    RE_Investor,

    You mention above, "The HO was given a lease with an option to by (not a very smart thing in California especially)"

    Why do you say this?[ Edited by ArtieFort on Date 04/04/2005 ]

  • RE_investor4th April, 2005

    Quote:
    On 2005-04-04 11:50, ArtieFort wrote:
    RE_Investor,

    You mention above, "The HO was given a lease with an option to by (not a very smart thing in California especially)"

    Why do you say this?

    <font size=-1>[ Edited by ArtieFort on Date 04/04/2005 ]</font>



    Because, the property was in pre-foreclosure, and if lease with an option to buy is done, it could be interepreted as usurious loan by CA law.

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