All Forum Posts by: Sandy Blanton

Lenders are only interested in the "market value."  This is noted as "sales comparison approach" on the appraisal.  Replacement/depreciation/income data is ignored from a lending perspective.  

Will an IRS Lien survive a Tax Deed Foreclosure Auction sale?  I've read they "die" if not renewed after 10 years.  Thanks in advance for sharing.  

Wow, I love that Vette (and I never liked them at all until recent years).  I drove a 2006 Saturn Vue for nearly a decade, still have it but it's about to hit the market.  I just bought a Caddy Coupe and I love it.  **Oh it is two years old as I never do the first year depreciation on automobiles.  :)  

In Florida the pass rates are about 33% and they don't improve with the retakes. Don't get all loosey goosey with the grade school thoughts. As a broker I've recently tried to hire two new salespeople out of other fields but neither could pass the test after multiple shots. Maybe some states are easier than others.

I know the title company wouldn't have a problem with it, but it's Fannie Mae we're concerned about. The mortgage broker doesn't know so we're going to put it on there and see if it "sticks."  

I have a customer trying to get an assignment fee on the HUD. The lender and I don't know if it'll be allowed. Any advice on how to get the assignee paid on the HUD? Thx

Email me the address and I can tell you what it's worth, will rent for, etc.  

Caleb, I think using FHA to buy a quad is a magnificent idea. You should buy now if you can however as the multi family prices in our area are climbing again and fast. The market was flooded during the crash with repo+ss units. Financing was virtually impossible so the prices remained depressed much longer than SFR units. See if you can find one of the last remaining SS or repo units now and you can possibly get in with instant significant equity. IMHO.

It's probably not a big deal.  If the units have separate power meters, you can be assured the usage is legal.  Here's a link to our zoning codes.  Look at the zoning # on the tax assessor's site, then match up here.  If you're really concerned, call the County Zoning folks, they can tell you over the phone.  Let me know if any questions.  https://www.municode.com/library/fl/pensacola/codes/code_of_ordinances?nodeId=TITXIILADECO_CH12-2.ZODI

There are NEVER any good deals in this area when an owner is financing.  Zillow is often accurate in the area for rental values so you can easily see what it'll rent for.  1 Baths aren't a problem in the area as there's a shortage of rentals and will be for the next decade at least.  The insurance doesn't cover contents because he's not giving you the deed and he's carrying a landlord policy, thus if he files BK or has a mortgage on the unit he fails to pay, or dies, you're screwed.  Without my looking further, I'd say it stinks to Hades.  Buy with cash or bank money for deals. IMHO:)