Moral question
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Moral question (by Ken [NY]) Jun 22, 2024 1:07 PM
       Moral question (by Jason [VA]) Jun 22, 2024 1:15 PM
       Moral question (by WMH [NC]) Jun 22, 2024 1:16 PM
       Moral question (by NE [PA]) Jun 22, 2024 1:36 PM
       Moral question (by Allym [NJ]) Jun 22, 2024 1:47 PM
       Moral question (by Allym [NJ]) Jun 22, 2024 1:53 PM
       Moral question (by RB [TN]) Jun 22, 2024 2:55 PM
       Moral question (by tryan [MA]) Jun 22, 2024 3:11 PM
       Moral question (by 6x6 [TN]) Jun 22, 2024 3:21 PM
       Moral question (by ken [NY]) Jun 22, 2024 3:22 PM
       Moral question (by Pat [VA]) Jun 22, 2024 4:17 PM
       Moral question (by 6x6 [TN]) Jun 22, 2024 4:54 PM
       Moral question (by PG [SC]) Jun 22, 2024 5:06 PM
       Moral question (by Robert J [CA]) Jun 23, 2024 1:50 AM
       Moral question (by MikeA [TX]) Jun 23, 2024 9:40 AM
       Moral question (by zero [IN]) Jun 23, 2024 10:44 AM
       Moral question (by ken [NY]) Jun 23, 2024 12:01 PM
       Moral question (by Ray-N-Pa [PA]) Jun 23, 2024 7:16 PM
       Moral question (by ken [NY]) Jun 23, 2024 7:44 PM
       Moral question (by S i d [MO]) Jun 24, 2024 9:00 AM
       Moral question (by Ray-N-Pa [PA]) Jun 24, 2024 5:20 PM

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Moral question (by Ken [NY]) Posted on: Jun 22, 2024 1:07 PM
Message:

On the deal i am working on currently there is a medicaid lien, the family gave up trying to find out how much it is.I am buying the house and would like to figure out how much is owed.I spend close to 2 hours and spoke to 10 people trying to get an answer on friday.If i get an answer and it is low the family may want more money or may want to sell it with a realtor and i am out of the picture even though i did the work.Do you think morally i am obligated to tell the family the amount of the lien if i figure it out even f it hurts my position? --74.77.xx.xx




Moral question (by Jason [VA]) Posted on: Jun 22, 2024 1:15 PM
Message:

In this example if they arenít willing to do the work I would just say that youíre buying the unknown risk and your offer reflects that. --73.147.xxx.xx




Moral question (by WMH [NC]) Posted on: Jun 22, 2024 1:16 PM
Message:

No I do not.

You can't lie by commission, but you are not obligated to tell what you find out - in this case, it is not a lie by omission. In my opinion.

We once bought a house that another person turned down because their inspector said the wiring was unsafe. We asked that person if we could buy the inspection report, he said yes and we did, and when we checked on the wiring found a pile of wire in the attic connected to nothing - it was left over from a job.

Were we obligated to tell the original buyer - who canceled his contract and sold us the report - that his inspector was inept? Nope. Were we obligated to tell the Seller? Nope. DH was the one who made the effort to crawl up in the attic and put hands on the wire. Their faults for not making the effort. --198.54.xxx.xx




Moral question (by NE [PA]) Posted on: Jun 22, 2024 1:36 PM
Message:

No. You have done enough houses to know that itís your job to solve their problems in trade for the deed to the house. Sometimes their answers are right in front of their face and they still wonít do anything about it. --174.240.xxx.xx




Moral question (by Allym [NJ]) Posted on: Jun 22, 2024 1:47 PM
Message:

Medicaid? Yes. Please consider that you have a big chance to really elevate yourself or put yourself in a position where this will haunt you. Our deeds can have an effect on our health going forward. It eats away at our feelings of self and our immune system. --173.61.xxx.xxx




Moral question (by Allym [NJ]) Posted on: Jun 22, 2024 1:53 PM
Message:

Just saw your other post that the children get something from the deal? I'm confused now. Had chemo yesterday so chemo brain. I would give them the figures though just because they asked. --173.61.xxx.xxx




Moral question (by RB [TN]) Posted on: Jun 22, 2024 2:55 PM
Message:

"The family gave up trying to find out how much it is".

Answer - No.

Some people like living in the Dark. --69.130.xxx.xxx




Moral question (by tryan [MA]) Posted on: Jun 22, 2024 3:11 PM
Message:

Absolutely NOT.

You did the work ... you win the prize.

BTW if the lien was not put in the registry of deeds it's not a lien. --198.168.xx.xxx




Moral question (by 6x6 [TN]) Posted on: Jun 22, 2024 3:21 PM
Message:

I would think no because of what RB stated.

you could always ask yourself though, what if it where me and my family? --76.129.xxx.xx




Moral question (by ken [NY]) Posted on: Jun 22, 2024 3:22 PM
Message:

OK, thanks for the responses. Tryan-It is filed but it says $1 and this number will change please call for a final amount, the woman is dead 4 years now so it shouldnt be this difficult.I dont see an attorney ot title rep getting an answer any easier tham i am getting it. if it wasnt filed but i knew it was coming i would be pushing the closing to beat the filing. --74.77.xx.xx




Moral question (by Pat [VA]) Posted on: Jun 22, 2024 4:17 PM
Message:

Sounds like info is not found out until sale, must have been an ongoing debt and amount will have to be settled to get a clear deed. --216.126.xx.xxx




Moral question (by 6x6 [TN]) Posted on: Jun 22, 2024 4:54 PM
Message:

"Sounds like info is not found out until sale..."

I think Pat is right. --76.129.xxx.xx




Moral question (by PG [SC]) Posted on: Jun 22, 2024 5:06 PM
Message:

I have read the two other associated post. Take the emotion out of the deal. This is a business deal probably no different than other deals you made because you did the home work and established what you think is a market price for as is with a lot of possible debts against the estate.

If you don't buy it some one else will or the children will let it rot down.

GO AHEAD WITH THE DEAL. --75.182.xxx.xxx




Moral question (by Robert J [CA]) Posted on: Jun 23, 2024 1:50 AM
Message:

I purchased a property with a different type of lien on it. When I contacted the "agency" that regulates and administers liens on a property that is being foreclosed on abandoned by the owner and the "loan" holder had gotten the right to "Sell, auctions or dispose of" I have my attorney do the following:

Give notice that "we" can't find a lien amount recorded anywhere. And the court that in charge of the case has a limit of $xx dollars. ( around $10K).

Then after giving notice and hiring a "title" company to do a title search. I have an opinion that someone didn't do their job with regards to the paperwork.

If the hold of a lien that has a second, third or forth place after the first mortgage, then if they don't act, after giving them notice. they are out of luck after you make the buy. If done right. --45.76.xx.xxx




Moral question (by MikeA [TX]) Posted on: Jun 23, 2024 9:40 AM
Message:

Many "professionals" are paid for what they know, you should be no different. --209.205.xxx.xx




Moral question (by zero [IN]) Posted on: Jun 23, 2024 10:44 AM
Message:

Just buy the place ken, you have it all set up already.

The kids will be happy for the 'free' money. You get a place that will rent for a much larger amount that it costs you. The lien falls off in a few years then you can decide if you want to hold it or sell it.

But you didn't cause the dilemma, you are just helping to solve it.

No harm, no foul.

I would almost be interested in buying the deal, but there is that pesky commute I would be dealing with. --107.147.xx.xx




Moral question (by ken [NY]) Posted on: Jun 23, 2024 12:01 PM
Message:

I will be buying it, i had every intent to buy it without informing them of the amount due, i was just curious what everyone thought --74.77.xx.xx




Moral question (by Ray-N-Pa [PA]) Posted on: Jun 23, 2024 7:16 PM
Message:

I suppose you could do that......or you could ask them -

What were you asking for the place? $100,000

Does the place have a swimming pool? NO

Ohhhh Okay.

Does the place have central air? NO

Ohhh Okay.

Does this have two full bathrooms or only 1.5 baths? 1.5 Baths

Oh Only 1.5 Baths.

Well has the HVAC or power panel been updated during the past five years? NOPE.

Ohhhhhh Okay so the place needs updating.

What were you wanting for the place again? Maybe $xx,XXX

Okay what would you be willing to settle for the place?

You do understand that their is still a Medicare lien on the place?

Can you do any better than that so I can convince my partner to get on board - I want to help you.

Ground down the expectations so that reality settles in. As for that partner - well lots of people think I crazy anyway.

--24.101.xxx.xxx




Moral question (by ken [NY]) Posted on: Jun 23, 2024 7:44 PM
Message:

Ray,they were already going to let it go to tax foreclosure.I offered to start making payments on the mortgage and catch up back payments of $800 and the mortgage has a balance of $15000. pay back taxes of $15000,i will pay my attorney to do all the paperwork and i will pay all filing fees etc and i will take over the lien from social services and give them $6000,she thought that was great. house needs $10000 of work and is worth $150000 --74.77.xx.xx




Moral question (by S i d [MO]) Posted on: Jun 24, 2024 9:00 AM
Message:

Questions of morality and ethics are often linked, but in this case I think we can separate the two.

Morality means following a code for one's life.

Ethics is whatever "society" determines is "right."

Morally I don't see any conundrums. Everyone is a legal adult, not acting under duress, and acting in good faith. One of the ways we profit from real estate is we see uses that others don't or won't or can't. This is not any different that the foreclosure I bought from a guy who had inherited his Dad's house but didn't pay the mortgage. He needed and ASAP bail out to avoid losing EVERYTHING. I bought the house for $65K, cleaned it up for $5K, and sold it for $105K about a month later. $40K profit. He was upset and said I cheated him. Nope... he could have paid the mortgage. He could have kept the house clean. He could have sold it long ago.

But he didn't. So I did. The fact that he got $65K for a house he inherited was sufficient for him at the time we inked the deal. He just got upset when he saw the "easy" money I made. He could've done the same thing, but.... didn't.

It's the same with people who know they can lose weight, but refuse to change their diet. It's simple to do, but requires willpower, and no one can force you to do it.

Anyway, hope you get that house. Zero guilt. Some folks let those places fall apart and the roofs cave in before the county has to come in and bulldoze it at taxpayer expense. You're preventing that from happening. Good work!

--184.4.xx.xx




Moral question (by Ray-N-Pa [PA]) Posted on: Jun 24, 2024 5:20 PM
Message:

I find doing a sub to with an investor is so much cleaner and easier. Perhaps maybe not as profitable but landlords understand cash flow. --24.101.xxx.xxx



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