lonnie deal questions - Posted by blake

Posted by Tony-VA on June 10, 2000 at 06:39:38:

Hey Blake,

I stick very closely to Lonnie’s materials for my deals. I use the forms that he provides. I may modify them from time to time but they are basically the same. Lonnie provides sample copies of his forms in the back of his books and in his audio course.

  1. If you are not a dealer, you simply title the home in your name (or company name) just as you would a car. Then the buyers name goes on the title when I sell it and I am listed as the lien holder. I take the title to DMV to reregister and retain the title until the note is paid off.

  2. No title, no deal for me atleast. Here in VA, all homes have titles. Getting titles is the sellers job. I have run into many deals where the owner cannot get clear title to the home. I don’t play games, it’s up to them to get a clear title, if not, I go on to the next deal.

Some states us U.C.C. forms and Bill Of Sale so you will need to check with your local DMV and licensing agencies.

Best Wishes,

Tony-VA

lonnie deal questions - Posted by blake

Posted by blake on June 09, 2000 at 10:41:39:

  1. what forms do you use when you are purchsing a lonnie deal?

  2. what forms do you use when you are selling a lonnie deal?

  3. if i am not a dealer, how do you handle the title? do you put it in your name or wait til you receive your pmts. and have the new owner handle this? what are the benefits?

  4. what if the seller has no title, only tag receipts?

thanks for all responses!