All Forum Posts by: Daniela Bachvarova

Unfortunately no, Suzanne, I didn't think that i would have to change something after the fact

That is what I wanted to know, if it is legally possible. It is some kind of an LLC, Don't know details. Will have more info today.

Thank you so much for the fast answer!

Hello,

I made an offer where there are 2 buyers. My question is if one of these 2 buyers wants out of the deal and another partner wants to take his place, is it possible to change the names during the closing period? Details: state of Florida, cash deal, not a foreclosure

Thanks in advance

Thank you for the answers! 

Hi everyone,

I am interested in a property that is listed on an auction website. It is a bank owned SF. I wanted to know if there is a possibility that the property has liens that are not mentioned? Or some other possible surprises? I am not really familiar with the auction procedures yet and any help will be greatly appreciated

Thank you in advance 

@Steve Vaughan Conventional financing is ridiculously slow, indeed. It's the first time I try it here. Very disappointed! Thanks for the advice! Will definitely look into other options!
@Brian Gibbons The seller in this case wants to sell "as is", no repairs, no contractors (elderly person). The only thing I can negotiate, is the price. I suggested the bank I lower the purchase price, and they still want their repairs done. But thanks for the advice!

@Account Closed How you figured the condition for the certified inspection? Have you used escrow hold back?

Thank you very much for the answer! It helps a lot!

I don't have the appraisal yet, but as per my inspection repairs will be over 5k. I'll try to arrange something with the bank, hopefully they will cooperate!

Thanks again!

Hello everyone,

I am in the process of buying a multi-family in Fort Lauderdale, FL. It will be my first property in the USA. I decided to go with TD Bank for financing. Among all the regular requirements for documentation, TD Bank, after their appraisal, notified me of the following condition:

Final inspection prior to closing for ALL DAMAGED WALLS AND CEILINGS TO BE SCRAPED AND OR SANDED AS NEEDED AND THEN RE PAINTED. (Safety issue; paint may be toxic). Please notify your Mortgage Processor as soon as the property is complete, so we can order the inspection. The inspection must occur at least six (6) business days prior to your estimated closing date.

Satisfactory Roof Certification indicating roof is leak free and has a remaining economic life of at least two years.

Satisfactory Plumbing Certification indicating no plumbing leaks exist and the system is fully operation.

Satisfactory Inspection by a licensed professional to evidence there is no mold in dwelling.

From conversations with the listing agent of the seller, I assume that the seller probably will be unwilling to undergo any repairs (money issue). Since I do not own the property yet, I find it unacceptable to put in any money for repairs either. 

Based on the report of my inspector, I was about to lower the purchase price. However, now, with the bank's updated condition, I am not sure what to do. 

Has someone experienced a similar situation? 

Thanks in advance for the help!

Rob, thank you for the fast answer! I cannot decide if it is wotrh to measure it, could that be a base to bring down the price considerably?