All Forum Posts by: Mahesh P.

Hello All,

We're in the process of making an offer on a house that has a diagonal crack in the basement from the window. Cannot see much from the outside because there is a deck over the window. Have been told that the crack was there for many years without any structural or water issues. I've attached pictures. Was wondering whether it to buy the house or just walk away. Thanks in advance for your thoughts.

Great discussion here and definitely very valuable to something I am thinking in the northeast. Very difficult to acquire properties in good neighborhoods at substantial discount.

A quick question to you all.

If a house is rebuilt on existing foundation, what is the age of the house? vs starting from a lot and developing the lot. 

Can I rehab a home from a ranch to colonial and call it new construction? Thanks.

MP.

Hello All,

If I were to buy a flipped house, would there be any warranty. I'm looking at many houses in the northeast metros that are flipped with new roofs, siding, floor plans etc. However, if a problem were to arise do I have any recourse if the flipper does not offer any warranty? Can I find out from the seller who the roofer, plumber or electrician was and ask the tradesmen to fix any issues. Any thoughts? Thank you.

MP.

Hello All,

If I were to buy a flipped house, would there be any warranty. I'm looking at many houses in the northeast metros that are flipped with new roofs, siding, floor plans etc. However, if a problem were to arise do I have any recourse if the flipper does not offer any warranty? Can I find out from the seller who the roofer, plumber or electrician was and ask the tradesmen to fix any issues. Any thoughts? Thank you.

MP.

Hello,

I'm looking for a contractor for several projects in Somerset County NJ. If you know anybody good, please let me know. Thank you.

Thank you for all the great responses. The potential tenants decided to go elsewhere - they wanted a response on their application within 24 hours. Begs another question - how long do you typically take to approve/reject an application?

We're going to allow pets - leaning toward a refundable security deposit maximum allowed by state. And a higher rent per month. Only concern with non-refundable fee is that the tenants would think its sunk cost and would not bother if there are mishaps.

Hello BP Community,

I've a situation that I'd like to get your thoughts and wisdom on.

We have a rental townhouse that has a no pet policy. House has been on market for ~7 weeks with only 5 showings. We understood from our realtor that market in the neighborhood is generally slow and other homes have also been on the market for some time now.

We received an application from a potential tenant that has two small poodles less than 9 months old. The applicants look good - military family with good credit history. However, we're not sure about the pet aspect since we don't know anything about pets (never owned any).

Is it better to change the pet policy or just wait for the right tenants going into the holiday season? What do you think? A class community with rents in couple of thousands. We have already dropped the rent twice. Wondering whether lost rent would be worse than any potential damage from the small dogs. Any thoughts?

Many thanks in advance.

Thank you all for your input.

Hello,

I recently had a tenant who has relocated abroad. Since the forwarding address will be outside the US, and difficulty converting a US dollar check to local currency, he has suggested I deposit the security deposit directly into a US bank - he has provided me bank acct number. Any issues I should be concerned about? Thanks.

Thanks Rick and James. Will definitely check them out.