All Forum Posts by: Allen Lopez

So on may of 2025, I sign an purchase agreement with a seller to buy his house for $350,000.  $0 down close in $30 days.  Within a week, I did an inspection and an appraisal. The seller asked me for the appraisal but I did not give it to him since the house appraised for $390,000. 

about 15 days after the contract was signed, the title company found out that the house had an IRS lien on it due to his wife and this being a community state. Seller new about the lien and never disclosed it. Additionally, seller had made multiple payments to the IRS for that lien. Seller asured me that we would be able to close but woudl need an extension so we extended the closing by another 3 weeks.  

a few days before the three weeks ended, the seller said that the IRS required an appraisal in order to release the lien.  So I provided mine. 

then he also asked for another extension. So we extended the closing until the end of June 2025. 

I was going to rent the house out. So I found the tenants and make the seller sign a property management agreement in order for me to rent the house out. The house rented out for $3300/month. 

on June 25, he asked for another extension so I agree to extend it until August 1,2025. All this time the seller asured me in writing (text that he would be able to release the house and remove the lien). 

2 days before August 1, he asked for one more extension so I agree to extend until September 1, 2025. By this point the rent money was going to the owner and we still were nowhere near to getting the lien removed. 

two days before closing seller sent me an email saying that "they tried with good faith to get the lien removed but will not be able to sell the property". 

I used the atartday purchase agreement which states that the seller has to pay 10% of the purchase price if he backs out. Will this counts as that? 

it's my understanding that the seller can still sell the property but the IRS would take any and all equity from the sale of the house.  Is this true? 

any recommendations on how to approach this situation?

Background:

There is a very reputable builder in Baton Rouge that is building a new neighborhood. About 3 months ago I sign a contract to build the home of my dreams. Simple 3/2 called an “Oxford” model. We agree to put it on a certain lot, certain model, for a certain price.   they accidentally pored the foundation for an “Oxford” model from 2017 which is about 20k more expensive. The builder is saying if I want the home, I have to pay the additional 20k. 

The contract say that they are allowed to increase the price if the cost of material goes up. Not if they mess up. Additionally, the contract only states that it has to be an Oxford model on that lot for a set price by a certain time (two weeks after the utilities have been turned on). There aren’t any design drawings on the contract. 

I fee like I have the upper hand and they have to either destroy the concrete slab and build the home we agreed for or give me that home for the same price. Or am I missing something?

the builder is giving me a few options:
1. Pay the 20k if I want the house on that lot.

2. Pick a different lot and they will build my house on it but that will delay closing.

3. Get out of the contract and get my upgrade money back.

anyone have a good attorney that can look at my contract to make sure I’m not missing anything? 

They mentioned that they were originally going to file an insurance claim to get that slab demo and start but the long term coast would be too much for them as their insurance would go up, have to order new material and delay the project further. 

No matter how we look at it, it’s pretty much breach of contract 

Hello, 

I have a sfh in a large lot that I would like to convert/build onto a 4plex. Has anyone ever done this? 

Any recommendations on how to approach this?

Any steps to check and get this done? Was hoping to refinance and use that to grow the property. 

Any help would be greatly appropriated.

Thank you 

@David Kelly

Any advice on how to help my friend get that?

@David Kelly

Can’t tell if you are serious or sarcastic lol

I mean I WISH I had that lol

I have a friend who is extremely hard working but has had a hard past (not criminal). Credit score is about 600-620. She is hoping to buy a small condo/townhome 3/2 around $120k. Plans to rent 2 rooms out to her friends and live in the third. Currently she pays $1000/month in rent. She doesn't have much savings. Is there any type of loan that she could get with zero down? I believe FHA requires 3% but wanted to see if there was any other options.

@Michael Gessner

Good news!! So I decided to sue her. She decided to settle before even going to court or anything. She agreed to give $25k to relocate and replace all my “lost/damaged” items.

Thanks BP

@Michael Gessner

Guessing you are a landlord. Typical answer

@Kyle J.

Yeah I agree. So the other part is that we told her 6 months ago about the leak and she did nothing so for all that time and mold started growing all over the ceiling and furniture. Now we have to throw away all our furniture. Plus isn’t there a health risk associated?

Also.....can we sue her for negligence?