All Forum Posts by: Alan Bostick

If a contractor breaks something new you are putting in the house (i.e. granite counter top) is that typically the  responsibility of contractor to replace or is that the investor that takes that loss?

Is it common or reasonable to have in a contract with them that if breakage does occur with new items that they would be responsible?

@John Mocker 

What is the cause for  insurance companies backing out of  Florida’s market?

With the market that we are in it is unlikely the current lender would release title for less that what is owed (short sale). Most likely, Either you or the seller would have to make up the difference. You could look into making it a “subject too” deal. 

Okay, so selecting an off market buyer would not legally prohibit/penalize me from taking a cut of final sale?

I was wondering if I have a property to purchase under contract (example purchase 120k and the market value is 190k) could I hire an agent to put this property on the MLS to get market value or close to it, with me as the middle man?

I live in Ohio and I read over the laws, looking for clarity in this kind of situation if it even occurs. 

A friend of mine has lived in this house under land contract for 5+ years and and recently taken title and now wants to sell. Will he have to pay capital gains tax because he hasn’t held title for more that 2 years?

A friend of mine has lived in this house under land contract for 5+ years and and recently taken title and now wants to sell. Will he have to pay capital gains tax because he hasn’t held title for more that 2 years?

I have not heard in podcasts or read in any book yet about this topic. Is it customary/required to have tenants security deposit transferred to buyer at sale or is the buyer responsibility to provide that when the tenant moves?