All Forum Posts by: Andy Bondhus

I think a 2/2 is preferred to a 2/1 whenever there's an option.

According to the law you provided, it says "if the tenant does not consent, the landlord can terminate the tenancy by giving appropriate notice."  So if they don't send the signed addendum back and pay the new increase by the stated due date you can give them a Notice to Quit or Pay.  If they still don't pay then you proceed with evicting them.

It's my understanding that even if they don't sign your addendum, but they still pay the new rent rate, that in essence is the same as them giving consent to the increase.

@Joseph Parker, I'm not a lawyer, this is just my 2 cents worth, but if you didn't turn in the EM on time, then the seller may be justified in backing out of the contract.  You may have a case because the agent told you no rush, but then again, it could be referred back to the contract that said it needed to be submitted by a certain time frame, regardless of what the agent told you.  In general it wouldn't of been a problem that you didn't turn in the EM until Monday, except in this exact situation where the seller got another offer and wants to take it.

If you're not interested in working with the seller any longer and would prefer to walk away, then you can chalk this up to a lesson learned and remember to turn in earnest money ASAP in the future. From my understanding when I was an agent, you do not have an executed contract until all parties have signed AND the EM has been submitted.  I would also keep that in mind for anything else in your purchase agreements, to always keep to the deadlines and if they change at all, to get an amendment to the original agreement, just in case an agent's email agreeing to the change isn't accepted by a court, should you ever decide to go that route.

Good luck with whichever way you decide to go!

@Joseph Parker, you only had 24 hours to submit the earnest money?

@Rachel N., if you do go month to month, I would charge more per month and also find out what their plans are.

@Casey Culver, did your purchase come with any kind of home warranty?  I would check with that first, if it did.

@Joseph Parker, good luck with your meeting and definitely don't sign anything while you are there, I don't believe you are in the wrong.  They are just trying to get you to do what they want.  Advise them you need to consult with an attorney before you sign anything.   They may change their tune.

@Joseph Parker, I would fight this.  If your contract was signed late wednesday afternoon and you had 2 days to deposit the earnest money that would give you until Friday.  If their office was closed on Friday then the next conceivable day you could have given the earnest money would have been Monday, not to mention the fact that you have emails from the broker telling you "no rush".

Please let us know how this works out...

For all the lenders out there: can anyone tell me whether escrowing tax and insurance funds are REQUIRED for an FHA loan? We'd prefer not to escrow, but our lender is saying FHA requires it. I don't know what to believe because I've seen both where it says "yes they do require it" and "no FHA doesn't require it, but your lender might." If it's my lender who is requiring it, can I find a new lender? Do most lenders require escrow for FHA loans?

We only allow a DISH if it can be installed in the ground, nothing is to be mounted on the building.