Posted by Karl (Oh) on June 12, 2009 at 15:40:12:
Brian,
I always make a copy of the note for my records before I turn it over to the BMV.
A few times over the years I forgot to make the copy, and had to ask the BMV clerk to copy it for me before I lost it forever. That always got me a big frowny face from the clerk, but they did it.
Karl
First default/abandonment of home in Ohio - Posted by Brian in Columbus
Posted by Brian in Columbus on June 10, 2009 at 13:28:12:
Hi folks,
It was bound to happen and it took a year’s worth of LD’s, but I am pleased to report that I’ve had my first note payor bail on me. Sadly, they paid in advance every month and never caused any problems for me or the park. The good news is I have a buyer ready to go. The bad news is I am not sure how to go about getting a repo title. There were mixed messages out there from the old postings I researched, so if anyone in Ohio has updated info, please let me know. I’ve heard it was as simple as obtaining a repo title by showing evidence of the note, but I’m guessing its not that easy. Any help would be appreciated. Thanks!
Brian
Re: First default/abandonment of home in Ohio - Posted by bob
Posted by bob on June 11, 2009 at 19:13:22:
…just did the same thing this week in Darke County, OH, near Dayton. The buyers had moved out about a month ago and BS’d about payin’ the back taxes of $222. I had to pay back taxes but after that it was as easy as goin’ to the BMV. I explained to them that this was a repo situation, they punched in the info, printed a new title and asked for $11. The ladies there said that Keith at the Auditors office liked candy and so did they…guess what, i’m loadin’ up next time and droppin’ a few biz cards off as well…!
I’ve got new buyer standin’ by to pay $4k (for those that think it can’t be done)cash for home i paid $500 for in Aug 2007…i’m prob only breakin’ even on the deal but thatz cool…i’ve already spotted some additional opportunities with the cash and will visit my dau out in LA later this summer with the proceeds.
Hope that helps, if not, yu have my email…!
bob
Re: First default/abandonment of home in Ohio - Posted by Karl (Oh)
Posted by Karl (Oh) on June 11, 2009 at 17:37:57:
Brian,
I did a quick archive search for “ohio repossession” and found a lot of info on this, which saves me the trouble of retyping it. But here it is in a nutshell.
To get a repo title, pay the taxes current through the current year, get your tax stamp from the county treasurer, your conveyance stamp from the county auditor, and get a new title in the lienholder’s name by surrendering the original note to the BMV.
However, first read the legal points in the posts in the archives to decide if you’re comfortable doing this.
Karl
Re: First default/abandonment of home in Ohio - Posted by Dr. B. (OH)
Posted by Dr. B. (OH) on June 10, 2009 at 22:06:52:
I sent you a note.
Re: First default/abandonment of home in Ohio - Posted by Brian in Columbus
Posted by Brian in Columbus on June 11, 2009 at 21:55:28:
Thanks for the info everyone. The process worked out just like Steve (if obliges your requests and sends you the info offline) and Bob wrote. Although they did keep the original copy of the note, which was a little disconcerning, but hey, I got the title back in my name and I’m ready to move on. Since my last visit to the home on Sunday, the park has placed a 3 day eviction notice on the door for the tenant and it will likely be there when I drive by tomorrow. Since they already left and abandoned the home, my guess is they will not have any issues with the courts. The good news is, the PM and I have a good working relationship and we expect to finalize both the lot rental agreement and my subsequent sale next week. We’ll see what happens…
Re: First default/abandonment of home in Ohio - Posted by steve (oh)
Posted by steve (oh) on July 16, 2011 at 08:31:49:
please send info.
Re: First default/abandonment of home in Ohio - Posted by Mike (OH)
Posted by Mike (OH) on June 11, 2009 at 11:55:03:
Dr. B.
I apologize for jumping on the “me too” wagon, but I would like the information as well.
Thanks.
Re: First default/abandonment of home in Ohio - Posted by chris
Posted by chris on June 10, 2009 at 22:35:49:
Dr. B.
Would you please forward the information to me as well?
I would greatly appreciate it.