All Forum Posts by: Dave S.

With the mortgage rates so high (relatively speaking) if you can swing it, does it make sense to sell out right or do seller financing for a period of time? Maybe this may attract more buyers? Feels like a win win but wanted to hear what others are thinking.

All good info. Wish the place was closer where I could easily drive by but it’s over an hour away. I’ll see if neighbors are around. 

I have a title company involved. 
I have the signed contract. 
I visited the property personally (currently his place of residence) and no one was home when I was there. 

The title says it all but I’ll elaborate a bit. I am working directly with the seller. Finally got the property under contract! The seller is anxious to move fast (for whatever reason). A couple days later I called them cause some items are needed from seller (resale certificate, permission to go on property form from the inspector, etc). Didn’t get an answer. That was over a week ago. Not sure if the seller is getting cold feet or what but as I see it, there is a legally binding contract between us and it must be upheld. What leverage do I have to get this thing moving. How do I incentivize / threaten the seller (not that I thought I had to from earlier discussions) to get moving? They wanted to settle in November still. It was already a tight timeline but now with the holiday, I don’t know if it’s going to happen. Thoughts on how to proceed? 

So Im in a particular situation, where my tenants were supposed to of moved out a while ago (Jan time frame with not even the defined 30 day notice but a 60 day notice!!), and enough was enough and come END of Feb we posted a notice to quit on the door for them to be out end of March. The tenants paid their rent, werent behind on payments, just needed them out so we can fix up a few things and sell the property). I have contractors aligned to start work and getting the property ready for sale. Am I still obligated to notify the tenants (even though they are supposed to be out) when the contractors are going to be there. Some of the work can be done solely from the outside (i.e. the roof). I dont want the tenants to think Im letting off the gas to get them out by reaching out past when they are supposed to be out! Please advise

Looking for some advice and strategy for splitting a multifamily into 2 separate half double dingle families for higher resale value. Looking to do this to flip and sell right away (not to hang onto). The street is filled with separately deeded half doubles, so getting the approval from the township should be a slam dunk (knock on wood). However, the property is mortgaged (as one deed). So I'm looking for help to navigate this scenario with the least out of pocket funds as possible. The deed splitting costs about $4K but I really prefer to not re-fi and get two separate mortgages for a short term until we sell. Thoughts?

In a cut throat market, your offer needs to stand out above all others.. Cash is king, quick close, above asking, etc.. Waiving of contingencies is usually up towards the top of the list too. At the surface it sounds risky to do this but is it? What is the worst case scenario, you lose your EMD (Ernest Money Deposit) if you want out? You still have time to do inspections but you cant use this as a get-out-of-contract reason. So are there ways of standing out (i.e. using the attractive no inspections / contingencies approach) and risking even less thats bulletproof?

@Brad Gibson thanks for your quick response and investigation. This is extremely frustrating. I’ll have to dig more in PA and how they are handling it. Hopefully in a better fashion than TX! Thanks again.

Has there been any details released about tenant / landlord rental assistance from the 2nd covid stimulus. As I understand it, the checks for people have been sent out but no one seems to know how to apply for the assistance. Isnt the program fully defined and released yet?

No interest in this topic?!?? Really?