Any MA Investors?

Bird Dogs, Wholesaling
1

Hi,

I’m a new investor just looking into Wholesaling in MA. Does anyone know how Title V would come into play when Wholesaling?

The regulation as I undertstand it says that any house which is sold in MA needs Title V inspection/certification.

So, if I wholesale a home to an investor, i.e.—>find a motivated seller—>enter into a PA to buy the home with motivated seller—>assign that PA to a rehab investor OR enter into a second PA with that investor (who is using CASH or HARD MONEY)-----> Does that home need to be Title V compliant?

If so, seems to me it would throw a pretty large wrench in the works!

Any info would be appreciated
Tony

2

It needs the inspection but it doesn’t need to pass. Typically the mortgage lender is going to want it to pass before lending the money. It needs to be fixed within two years of the inspection so it’s possible to buy it as is if HML agrees. I do know someone who bought a SFH that failed. He wasn’t worried about it because he’s going to do a knock down and put up a really nice building so fixing it will just be small change for him.

Also as you know Title V only applies when it’s a private sewer. Just do deals with town water/sewer and you won’t have a problem…