All Forum Posts by: Erik Allred

I went ahead and bought 5 fans, with LED lights and a remote. They were on sale. $520 all in.

Thanks, Marian! I have no clue what that is, Google it is!

Thanks for your input, Marcia! The house already has central heat and air, but it is in Arkansas and summers are hot here. I keep the house cool, but I often run the fans anyway. It lets me spare the AC a little, and saves me a little on the electric bill. I considered just removing the fans and replacing them with LED fixtures. Also considered replacing the light kits currently on the fans with something more modern, with LED lights in it, and painting the metal parts of the fan with Oil Rubbed Bronze Rustoleum. I have used it before, and it doesn't look bad. But I'm not going to be living here myself, so I'm not sentimental about it; I just want to do whatever will help the house sell. Maybe that means no fans at all!~

Hi All - I'm rehabbing a foreclosure that was built in the early 80's, a 3 bedroom 3 bath brick house in a nice neighborhood. All the metal work in the house is that shiney brass that was popular then, and it is worn as well as dated. I'm replacing everything with oil rubbed bronze - door knobs, hinges, cabinet pulls, faucets, etc. There are 5 ceiling fans in the house, all brass, and they have to go. I'm looking for something in oil rubbed bronze, with LED lights and a remote. I've been looking at Overstock, Houzz, Amazon, Lowe's, HD, etc. Have any of you recently done something similar? Know of any deals out there? I want something in the current style, reasonable price. What did you chose for your flip? This will be about a $250k house, when it is done. Ideas? Thanks!

Hi Carol - I bought a Fannie Mae foreclosure in Hillsbourough.

I'm looking for someone who can do granite, tile and general repairs. Thanks!

 Many of the homes I was just looking at had title documents that were a few months old. If you are looking at the property info, click on "Documents" and there is various info, depending on the property. It appeared like the banks that foreclosed on the properties had done a title search to update their info on the properties. I would think it would be a good idea to do your own research - see what you can find at the county clerks office, or maybe you could hire a title company to do a title search. 

I was just reading the terms and conditions on the auction.com website. One thing I found alarming is you have to sign the paperwork within two hours of winning an auction, or you can lose the $2500 you pay to register for the auction. To make it worse, they have the option to extend the auction close at their discretion. Maybe an auction closes on the 15th of the month, and you know you are available that day, so you bid. What's to stop them from extending the auction until 3am, and then seizing your $2500 bid deposit because you didn't check your email and return the paperwork in 2 hours?

From their Online Terms and Conditions:

"If a Winning Bidder cannot be reached within 2 hours of ADC's acknowledgement of Winning Bidder, or Winning Bidder fails to timely execute the purchase documents, ADC or seller may declare Winning Bidder to be in default."

and

"Subject to liquidated damages", i.e. loss of $2500 bid deposit.

and

"Winning Bidder must sign the purchase documents within 2 hours of when they are sent by ADC."

I see no stipulation that auction.com will inform you when the documents will be sent, so it looks like you better be ready to sign them within 2 hours , anytime, day or night. Thoughts?