All Forum Posts by: Byron Bohlsen

Hi Folks,

Got a unique situation and wondering if anyone can weigh in - 

The previous owners of the duplex I recently bought had an auto turn on feature for their gas bill so that when a tenant moved out the utility was automatically put into their company's name. After my inherited tenants moved out I forgot to put the utilities in my name and the previous owners did not turn off this feature, I just found out the bill for the past month or so has been in their name. 

Does anyone know if I am liable or if the previous owners are responsible? If they refuse to pay and I refuse to pay will it somehow come back to me as an assessment etc? 

As these folks have stated you need to review the purchase agreement etc. If its not a mentioned/agreed to item then your SOL. And yes you are responsible for the security deposit regardless if you dont get it :(. 

Like a general contractor managing his minions or something else? I think I'm in the wrong field!

As far the fha stuff i don't think owning another piece of property is going to help qualify at all unless it's income producing then it might you would have to ask the broker. They don't care about how much you have only how much is coming in vs going out.  

What did you do to the fireplace and surrounding glass? 

So how did your income jump so much? Can I get in? :)

what if they prefer this because they are also the poorest generation... dun dun dun

I recommend Dean Schiffler with PHH, he works with a large network of brokers so he can almost always get the best rates outside of credit unions. I have used him exclusively so far. He doesn't have the cheapest closing costs but you can trust him to be straight with you, to get it right and get it on time. My latest purchase 1.5 months ago FHA and he got me locked in at 3.25 when everyone else was advertising 3.75+.

http://www.mnratesonline.com/deanschiffler/

Alternatively I recommend penfed online credit union if you are buying for owner occupied non FHA. A small donation to military foundation to join gets you access to some great options and the lowest rates I have seen. If you pick their 15/15 and work with penfed affiliated realtor they pay all closing costs up to 10k. They are picky though so you have to be a strong borrower.

For a local credit union owner occupied non FHA I recommend Wings Financial. Again they have lower rates and closing costs then the big boys and their rates are not risk based - ie if you meet their min requirements you get the same great rates as the strongest borrower.

I haven't been doing this long enough to know that's good enough or not. maybe more experienced will chime in. Good condition to them might still mean the scratches on the floor the cracked trim around the Window.  Pictures are a must to protect yourself imo. 

Sounds like you have no real documentation on condition upon tenant move in. Tenant can pretty much say what they want and judge will be in  their favor. I just took over  a unit the tenants left and it needed major rehab. only thing i got them for  some flooring damage they admitted to being from their couch

Nice, hopefully its profitable for you. 

Most of the school rater websites I see doesn't rank Edina 1st. Shrug.