All Forum Posts by: Christopher Veljkovic

Hello BP intellectuals,

Can anyone share their experience with seller financing?  I’m trying to purchase my next home and would love to acquire the sellers interest rates.  
I HAVE NEVER DONE THIS BEFORE, so looking for guidance. I know your time is important. This process is specifically in NJ. NOT SURE if that makes a difference from state to state. 
Any direction will be helpful; ie. website, reading material, a professional.

Thank you for your help and good efforts in your journey!

@Nathan Fisher your right, my attorney did put it in but I never questioned it until today.

@Ryan Lesley I pretty much had thought the same thing but needed some clarification.  TY for concurring.  

Hey BP,

Over looking my lease agreement  and came across this:

SUBORDINATION: The Lease is subordinate to all existing and future mortgages, deeds of trust and other security interests on the Premises.

What does this mean? and is this beneficial to have? and if so why?

Thank you ahead of time

**This a new one for me!!**

How to underwrite a applicant that is retired living on supplemental income and proceeds from a sale of their home?

What type of information should I request besides monthly bank statements? Anything else could anyone recommend or a process that anyone has gone through before?

This a new one for me!!

Thanks! In good health!!

CV

I am a owner occupied landlord of a two family home. I have 3 small boys. I am wondering can I exclude the tenant from using the backyard?

Can a renter agree to exempt themselves from the HERO ACT within a lease agreement?

Maybe a silly question but just curious!!

@Vanessa Regalado @Jonathan Greene @David M. @Wayne Brooks

Thank you for this information and your time for your advice. Looks like this maybe a cash deal or a seller finance. 

Stay safe everyone!!

@Eric Fichera

Belliville, Nutley, Dover, Butler are some examples.

What I did was look at a map of NJ transit and pick my neighborhood that way.

What does “As Is Sale” really mean in NJ?

The Situation:

A tenant is offering to purchase duplex in Essex county NJ. I don’t mind selling it, however, I do not want to put any more money into repairs. The home is in working order, cosmetically not so nice but the mechanics are solid. So, after we determine the price:

•How do I relinquish all liability of the home during the sale and even in the future?

•Is there a certain contract that a real-estate attorney can put together or a template already in place?

Also, if the tenant is going for a mortgage, I’m sure that the mortgage company is going to have certain things taken care such as oil tanks in the ground and any other requirements in order to finalize a sale. How do I avoid this and have the tenant/purchaser assume all responsibility?

Not sure if these are the right questions but some direction would be greatly appreciated!

Thanks and stay safe!

Also in the Bronx when we sold our place in Riverdale we used MODA realty in Riverdale. The owner is super knowledgeable about the Bronx, a west Chester, and Manhattan. He had a lot of multi families on his listing at one point.