All Forum Posts by: Dinesh T.

I would like to cash out of my free and clear condos in Connecticut. FANNIE backed loans are ruled out due to Investor/Owner ratio being > 50%. Do you know any lenders who would be able to help me? 

-Dinesh.

Thanks Peter. I will certainly reach out.

-Dinesh.

I am considering exchanging my condo as I am in contract with a buyer. Do you have any recommendation on who I should pick as the the exchange facilitator? What are the typical costs involved?

-Dinesh.

I am considering exchanging my property as I am already in contact to sell my condo. I understand that the proceeds of the sale should be handled thru exchange facilitators and that it should not touch my account. Does this rule apply to earnest money deposit as well?

-Dinesh.

I do not expect that the property is winterized as it was in the possession of the owner and bank never had possession. Is it possible that the owner winterized it? Possible, but not probable. So I am expecting burst pipes.

My closing got delayed today, but I would know later in the week what the situation inside is. Keeping my fingers crossed. I do not have a storage space. Once I know what I am dealing with, I can make a decision. 

Thanks for all the feedback,

Dinesh.

It is a condo, with adjoining properties sideways and below. Hence the probability of above mentioned concerns are less than a standalone property.

I was the winning bidder in a foreclosure sale on a property in Connecticut and will close next week. I have learned from the neighbors that nobody is living in the property for the past 2 years. After closing, I plan on immediately changing the locks. 

I would like to hear your stories on surprises when you open such properties. What if you find personal belongings? Notice of abandonment? Potential tenant lockout? What precautions should I take before/after changing locks?

-Dinesh.

Thanks Sam. 

• Would I need landlord policy as well in addition to home warranty?
• Is the primary intent of umbrella policy only to protect my own home?

-Dinesh.

Hello Gurus-

I closed on a condo last week in a foreclosure process. There is a tenant in place currently and I probably would have evict the tenant. I worry that the tenant would probably trash the place before leaving.

To protect myself, what kind of insurance should I get? Can anyone recommend a good insurance company? Should I also get umbrella policy?

Dinesh

Well, in 2015, there were no rental income or expenses. Only 2 transactions. One initial deposit of $1600 to open account & another deposit of $150. I bought Turbo tax as I hardly have any activity. I thought this is simple enough which can be done by Turbotax. Thoughts?

-Dinesh.