All Forum Posts by: Connor O'Brien

I'm using Ed Russel as my hud consultant. He is extremely knowledgeable but also in high demand. Good luck!

I just had an appraisal done for 203k. They appraise to the ARV. It was not difficult to get financing even for a house in terrible condition. It takes for ever though (2-3 weeks for the appraisal). Total time to close was almost 3 moths for me.

www.dracolaw.com

George Georgopoulos, Esq. gg@ dracolaw .com

@Ronan M. @Nathan Gesner Thanks for the great advice! 

I will ask my attorney to push back on the bottom unit being vacant!

I am second guessing myself because the bottom unit tenant has a leak in the bathroom that is causing damage to floor/joists. And has also attracted termites (I'm confident that termites are a recent problem). I want to get in and repair leak/treat mites ASAP. I know that waiting for eviction will lengthen the process. 

Thanks again for the help!

@Nathan G. @Ronan M. Thanks for the great advice!

I'm drealing with a similar issue. Let me know what you find out

Hi All, 

I am currently in the attorney review period buying a 2-flat in Chicago. My attorney demanded the bottom unit be vacant by closing as seller had given 30 day notice to a month to month tenant when it was put on the market. The seller's attorney letter stated the following: 

There was no security deposit 

Tenant ceased paying a few months ago 

They cannot find the lease but " (it) expired long ago and the tenants are month to month." 

"The first floor tenant has been properly served with a 30-day notice to quit the premises, and the time has elapsed. An eviction has not yet been filed" 

I plan to: 

Ensure there was never a security deposit. If there truly never was one I want to offer the tenant cash for keys. 

Is there a legal document I need to have the tenant sign when they leave the premise? If so can I deal with the tenant directly before closing? 

Also, the second floor lease was also "lost" and expired. Can I provide this tenant with a new lease before closing? They currently use CHAC. Do I need an inspection or anything else to continue receiving the voucher? 

Thanks for the help!

-Connor

haha love this. I've definitely seen the pink tub before. 

Has anyone else noticed the lack of insulation in some Chicago neighborhoods?

Hello! 

I'm very interested in this deal and any others in the Chicago area. Please send me more info if you have other opportunities.

[email protected]

Thanks