All Forum Posts by: Account Closed

Here is the thing, you can't do business without trusting nobody. I'm aware of that even though I'm sceptic by nature. I confirmed before I got in relationship with PM that they do move in checklist. After the lease I didn't ask them for it. However 3 months in and I got hit with a repair. The glass window broke. Really? At that moment I asked for move in cheklist to see A) wether the PM had done a move in check list and B) if the tenant had reported this problem at the move in. The PM ( which is actually the turnkey provider) explained the event with a storm but did not provide the move in list. I asked again if they provide move in list to owners and he finally sent me the copy. There was no report of broken glass at the move in. 

In this case I questioned the repair charge and it appeared to bevvalid. 

But in general do you guys question every single repair charge or you just let it go. I tend to be suspicious of foul play. I mean can't the PM use repaires as a way to skim more money from owners?

Hello everyone 

Is it typical for PM to issue copy of move in cheklist to the owner (aka Inventory Condition form. I ibtained property through a turnkey provider and they didn't provide me with one even though they advertise they perform with tenant such thing. 

Anyone has experience with that

Thanks in advance 

Hello everyone 

Is it typical for the Property Management to give a copy of the move in checklist ( also called Inventory and Condition form) to the owner? I have rental home through a turnkey company but no such copy was issued to me after the move in even though they advertise in their website that they do perfform it. 

Anyone has experience with that?

Thanks in advance

Going to closing in a couple of days with a turnkey company. Property was inspected and reinspected because of the long list of repairs from inspector. Out of around 60 still around 10 remain which seller is supposed to finish this week. However closing may come even earlier than the finished repairs. What's the advise? Move on and close and ask seller to continue repairs (they guarantee repairs for 1 year) or stall and try to postpone closing. (however I may lose earnest money of $3000 since it is beyond 5 days after inspection.

Hi Jay and thanks for the reply

This will be an all cash deal. Title company will issue an owners title insurance policy. They will send me the Commitment and the Exceptions Documents (to the Commitment) after which I will have time until closing to object in writing to various exceptions. Title Insurance is being paid by the seller which inclines me to think that it will be a bare bone coverage. Now obviously I could ask the Title Insurance itself, but given the lack of experience in the matters I could be swayed into potentially costly territory later. That is why (as suggested above) I thought perhaps an Attorney can impartially explain and suggest what to do.

Thanks a lot for suggestions

Ronnie, Thank you for your recommendation. Wayne thank you too. I feel same way. Just needed confirmation of what is a common rutine from  investors  here on BP on that matter. Exceptions and Exclusions are a mine field maze to go through and a legal advise on your side would be helpful although the hardest thing would probably be to decide on which of those exceptions or exclusions are common and which are worth getting extra coverage on. 

I truly appreciate your replies. 

Hi. First time here and wishing a good day to all!

I will be receiving soon the Title Policy from  "Innovative Title Company" on a turnkey investment property (SFH) in Houston TX. I will probably not understand (and am not familiar anyway) the language of exceptions and exclusions on Section B and C. I need recommendation weather I need to speak to a real estate attorney for a review and advice on those matters or just go with what the Title Company insures me.

If I need an attorney do you have a recommendation for an investor friendly (reasonably priced) real estate attorney that can review and advice on the title in Texas (Houston).

Thanks a lot