All Forum Posts by: Matt T.

It's a 3bd/1ba, currently under contract for $16,500. We are asking for $2,500 credit. The bank is hesitant because they say they assessed the garage at no value.

A friend at the Fire Department says it appears someone started a small camp fire inside the garage. Given the neighborhood, kids are the most likely source.

My attorney told me as long as the title is clean on the day of closing, I have nothing to worry about because of the title insurance. I guess that makes sense. I'll let you know if I hear more.

Good Morning! I have an REO SFR under contract as of seven days ago. Yesterday I learned a detached single car garage caught fire and burnt to the ground. In the process it did some serious damage to a neighbor's detached garage as well. I had my guys take pictures and forward them to my realtor. He is going to ask the bank for a discount. Bottom line, garage or no garage, the numbers are still there (2.5% rent to rehabbed price and 50% rule).

I'm scheduled to close in a couple weeks. It's a cash purchase so financing/appraisals are not a factor. Not asking for legal advise, just curious if any of you have had a similar experience. Thoughts? Would you have any concerns?

Thanks in advance. I'm new to BP and learning a lot.