All Forum Posts by: Greg Soon

@Sara Reeder

If you elect to cover fees for tenant, this could end up costing more 5han many other solutions. I'd 5his still a good choice?

@John Fakish

If you were to get it a permit for a kitchen, would it get approved? If you have a SFH zoning you are only allowed to have one stove. So you are OK with a bar but not to have additional stoves in the bar area (include microwave oven). As long as you are conforming to the code you should be ok

@Tom Gimer

Wish I can warn

@Cason Acor

Hard money lender asking for zoning too. One said no issue so I proceeded but at the 3nd said no

@Matt Devincenzo

Could mean destroy two properties and leave one alone.

A wild thought, connection= all three properties and call it one?

@Ronald Rohde

That would require subdivide to three lots to build

@Ash Patel

700k

@Cason Acor

No but they may be able to extend. Working on it

@Sriram Kumar Bikkina

I have looked into several properties with basement in Maryland with intention to buy based on the listing. I found many of them the floors are not even, some with significant slopes. Later my realtor friend told me he does not like properties without basement because it is much harder to run pipes and a lot built underground and hard to fix.

This does not deter me from looking into this kind of property in the future, just need to check conditions and weigh price against potential difficulty in repairs

Hi all, I won an online auction for a 3 building 7 units on a 5 acre lot that was under a single tax ID. I thought this is legal so I bid 9n it and paid deposit (10%). When looking for financing my lender told me the zoning is for single family and they called zoning board and was told the 3 buildings were non-conforming. Interestingly the government recorded the 3 buildings under a single address but counted the total square footage of all three properties. Zoning said it has to go through court hearing to decide if it can be grandfathered. The lender therefore refused to lend on this purchase. I never had a rejection by a lender before.

I talked to many other lenders and they all end up to be concerned on the same issue.

I asked the seller to get proof that the zoning is not an issue to meet the lender requirements, he refused. And if I do not close he will keep the deposit.

The zoning issue was never disclosed. The terms of the auction sale agreement is not contingent on financing. Do I have a chance to get deposit back?