update on previous prisoner… - Posted by michaela-ATL
Posted by michaela-ATL on June 01, 2005 at 16:20:00:
Just thought I’d give an update on a questions, that I made last week. It was kind of fun to put out these little fires and it may give some of those newbies an idea how things can run differently than planned and that you can do things, even if people say you can’t.
Searched for a few weeks for an owner of a vacant lot. Finally found him and sent him a letter. He called me a few days later and was happy to sell - his only criteria: He did not want to come out of pocket to get ‘rid of this eyesore’. Well, hurrah, I love those sellers. Not a lot of them out there. Got a contract and got a builder to put it under contract within 30 minutes. Purchase 13k, sale 25k. Well, that was an easy one - yeah right ;-)!
Well, last thursday a week into the title search the builder calls me and says: His attorney told him the deal is dead, there are 2 liens on the property and they appear to be fraud, because the seller says he doesn’t know these people (3.5k by a mortgage company, that no longer excists and 3k by someone, the seller says was his ex-wife’s divorce attorney). Talked to the paralegal and she says, she’s done everything she could and those people can’t be found - it’s dead. I asked her to humor me and fax me the deeds - I would find these people or I’d die trying ;-). There were already 10k in liens for taxes and demo lien. I figured, if worse came to worst and I’d have to pay the liens in full, I’d do so and still make profit.
Went to the courthouse and searched under the mortgage company name, found a previous quitclaim deed, signed by an attorney, with a handwritten note, that this attorney was the sole shareholder of that mortgage company. Went to the State Bar website and got his info. Left a message for the attorney and also gave the info on to the paralegal, who also left a message. No return calls. I left another message friday, no return call. Paralegal also couldn’t get any response. Went to attorney’s office yesterday afternoon, he was gone. Sent an email last night, explaining, that I had planned to buy this from the owner, but since there are now 17k of liens on the lot, it’s just not worth it to me. The lot is about to go to tax foreclosure (well, they’ve put a lis pendent in, but it’s not yet put out for foreclosure )and the other liens would be wiped out. I can either buy at the tax sale or I’m contacting every lien holder and if they’re willing to take less for a quitclaim deed I might still go ahead an purchase. Well, that woke him up. Got an email this morning, asking to make an offer, I offered, he countered - all by email. We agreed and I told him I’d be in his office at 2pm with the QCD and if that didn’t work for him to call me. He didn’t call, veni, vidi, vici ;-).
The other one, who was supposedly the ex-wife’s divorce attorney (while the seller was in prison 1989 to 1997. These deeds are from '92 & 93). I found an old address, drove to the house, which was for sale. Spoke to a number of neighbors. He hadn’t lived there for 5 years. One neighbor told me, that the former attorney (disbarred in '99) was on tv a few months ago and that the police was looking for him.
I figured, if the police is looking for him, what were the chances for me finding him? I kept knocking on neighbor’s doors. Found one, that sent me to another neighbor, who was friends with the couple. Went there and was given the ex-wife’s ph#. She gave me the cell ph# of the former atty. Called him, we negotiated a bit and made an agreement. When I went there I realized, that I did see the reports about him on tv a few months ago - about this RV dealer, that wouldn’t give deposits back to all these customers, that had rented RVs from him. Of course, I didn’t saything about that to him ;-). He then told me, that my seller was actually his client. He was a bankrobber, that, instad of pleading guilty and getting 5 months half-way house, like his cohorts, he pleaded not-guilty (against his attorney’s advice). And since all his ‘guilty’ buddies testified against him, he went to prison for 9 years.
This can be such an interesting business. I loved the chase and I got it worked out. It’s amazing the different kinds of people, that you meet - lol