Real Estate Auction Due Diligence... any advice?

[TwiceHorn 31509]

Yep, glad it worked out.  I know you've been kind of pursuing a dream with the big move and all, so nice to see that it's coming together.

[Walden Ponderer 12639]

Closing on Monday. I've already wired all the funds to my attorney, so we are just about done.

I am UBER glad I hired the attorney, by the way. There were only two errors on previous title transfers, but either one of them could have fucked us up for future legal fees for years to come. Instead, we're in the clear.

[zork 629]

On 12/4/2019 at 2:07 PM, Walden Ponderer said:

Closing on Monday. I've already wired all the funds to my attorney, so we are just about done.

I am UBER glad I hired the attorney, by the way. There were only two errors on previous title transfers, but either one of them could have fucked us up for future legal fees for years to come. Instead, we're in the clear.

Care to share what the two errors pertained to and/or more details in general on them?

[TwiceHorn 31509]

7 minutes ago, zork said:

Care to share what the two errors pertained to and/or more details in general on them?

Also curious about this and how you are able to fix them going forward.  

[Walden Ponderer 12639]

5 minutes ago, zork said:

Care to share what the two errors pertained to and/or more details in general on them?

One transfer had the entirely wrong bank name listed, because the previous owner was in a bankruptcy hearing at the time, and the attorneys lost track of who owned what, and on another transfer, the title company misspelled the street name.

Neither error by itself is all that big a deal, but if the previous owner's family had wanted to raise a ruckus, they would have at least had wiggle room to make us spend a lot more money on getting it cleared up. 

All the same, given the kinds of mistakes that could have been made, I am absolutely certain that having a lawyer review it all was the right call.

[TwiceHorn 31509]

Just now, Walden Ponderer said:

One transfer had the entirely wrong bank name listed, because the previous owner was in a bankruptcy hearing at the time, and the attorneys lost track of who owned what, and on another transfer, the title company misspelled the street name.

Neither error by itself is all that big a deal, but if the previous owner's family had wanted to raise a ruckus, they would have at least had wiggle room to make us spend a lot more money on getting it cleared up. 

All the same, given the kinds of mistakes that could have been made, I am absolutely certain that having a lawyer review it all was the right call.

File a corrective deed or something?

[Walden Ponderer 12639]

1 minute ago, TwiceHorn said:

File a corrective deed or something?

To be honest, I didn't pay attention beyond being told "sign here and it's fixed." I'm pretty sure it was something along those lines, but it was a one page document that the seller had to sign off on also.