Definition of Equitable Title in Real Estate (LA 1825) - a podcast by Steven Butala & Jill DeWit

Definition of Equitable Title in Real Estate (LA 1825)
Transcript:Steven Jack Butala:
Steve and Jill here.Jill K DeWit:
Hello.Steven Jack Butala:
Welcome to the Land Academy Show, entertaining real estate investment talk. I'm Steven Jack Butala.

Jill K DeWit:I'm Jill DeWit, broadcasting from the valley of the sun. What's so funny?

Steven Jack Butala:It's funny.

Jill K DeWit:We should change it. I'll do you on the next one. Want to practice right now? I'm Jill Dewitt.

Steven Jack Butala:I'm Steven Jack Butala.

Jill K DeWit:Broadcasting?

Steven Jack Butala:Yeah.

Jill K DeWit:Well, [inaudible 00:00:31].Steven Jack Butala:
I don't how to say it.

Jill K DeWit:I was going to let you imitate me.

Steven Jack Butala:No, no, no. I don't want to imitate you today.

Jill K DeWit:Not today.

Steven Jack Butala:Can't do it on the fly.

Jill K DeWit:Oh, great.

Steven Jack Butala:I can only do it when you're not expecting it in the form of making fun of you.

Jill K DeWit:And this is fine too. I can take it. I told Corbin, I'm like,"Bring it. I had an older brother and my dad picking on me my whole life,, I can take it."Steven Jack Butala:
I know you can. Today, Jill and I talk about the definition of equitable title in real estate. It seems that there's some confusion and I completely understand why. Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. Last year, a ton of members came to Joe and I frustrated about getting their first offer campaign out, or just frustrated in general with how long it takes to price mailers and do mailers in general, so we came up with a new product called Cod Concierge Data, where we do the mailer for you. We take the entire mailer out of your life and do it for you, except for the pricing, and we show you how to price [inaudible 00:01:49]Jill K DeWit:
You pick the county, you pick the size, you pick what you want to do, and just say,"I need that data. I'll be over here."Steven Jack Butala:
We have products and tools in the Land Academy environment for just about every issue that you come across in this buying and selling of land and land investment environment, short of actually doing the deal for you, which people, believe it or not, have asked us to do exactly.Jill K DeWit:
Can I just give you some money? Call me when it's doubled.

Steven Jack Butala:Here's 10,000, let me know when it's 20. Someone said that to me.

Jill K DeWit:Happens all the time.

Steven Jack Butala:With a straight face.

Jill K DeWit:Can I just give you some money?

Steven Jack Butala:In social environment?

Jill K DeWit:I'm like,"No, I don't need your money and I'm not going to do all that work. I'm doing it with my money. I'm fine."Michael wrote,"I have a property under contract. I got funding in place. I have a closing attorney to do all the due diligence required to close."Interesting."The attorney mailed the closing documents to the seller and then the seller refused to sign before the scheduled closing."Huh?"He basically said he wants more money before signing any closing documents. Has anyone in this group experienced situation like this? What do you all do when a seller refuses to sign a closing at the last minute?"Gosh, you know what? Sorry you had to experience that guy. That's why on Monday we said we don't want you to be that guy. Congratulations. Now you got the opposite of it. You got the seller saying,"No, I know I'd sell for 10. I meant 20."Excuse me, I've done all this work, this other person's done all this work. I have this lined up, that lined up, I may have already paid for pictures and got videos done and now you want more money. You know what? It doesn't happen really often.

Steven Jack Butala:This is a symptom of a personality disorder. If you've done this for any amount of time at all, this has happened to you. I don't know if I can count on two hands how many times this ha...

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