Monday, March 19, 2007

drive by purchase

"When they saw that I had researched that and paid the liens it built a trust and through our discussions they decided to bypass the costly title insurance and then I also persuaded them to bypass the attorney to draw up the deed and in doing so we both saved quite a bit of money."

Let's hope this story has a happy ending. I doubt it. These buyer bought a pig in a poke as far as I am concerned.

The last time I met buyers who gave a seller all their trust and $100,000, we all ended up in court about a year later.

Be smart. Don't trust. Buy title insurance.

1 comment:

Dave Wirsching said...

I saw the same post - thought it was great that they did their own title search. And who needs one of those pesky, valid Deeds? Bet they did their own wiring and plumbing too. Should be a dream home.....