All Forum Posts by: James Defazio

Thanks so much!! 

Genny how did you contact a tier 2 representative? Is there a number? I am going through the exact same thing as I am a sole prop and probably put my “business name” on the line where it asks for a “business name” and My bank account is in my name only. I’m guessing that could be a reason why I haven’t received anything. Could you advise how you got that changed? Thanks

Well at least the kids are getting their grants! I applied in March and have had credit pulled twice (I have 700+ credit) and have yet to receive a dime and haven’t received stimulus either. I guess I’m the odd one out. 

I got my credit pulled twice about a week ago and still have nothing. 

I applied in March. Still haven’t heard a thing except for some inquiries on my credit. Starting to wonder if I’ll get anything. 

I applied for this as well. We own multiple STR and LTRs. The STRs have been severely impacted by Coronavirus and on taxes they are considered self employment income. I can't imagine they wouldn't help out the other owners in the entertainment and travel business who have been ravaged by this pandemic. Here's to hoping we're approved!

Oh really Steven? That’s not what my realtor said! I’ll have to ask her again what the deal is. She told me that they do not get to sign off on everything. That could be a problem. They have signed off on everything so far besides this window. Maybe I’ll call the title office and ask them tomorrow. 

Thanks all for the responses! Just to be clear on a few things. We did close on the property and the buyers did pay the entire agreed to amount which we already received less 10k which is being held by the title company and my realtor is submitting receipts to them as we complete each of the things listed they wanted us to do. So yes, we don’t own the property and we are still working on their property so that I can receive the rest of my money that is being held back in escrow. Another thing that was NOT signed is an agreement that the work done will be done to their satisfactions or that an inspection will be done at the end to make sure all the work was done according to their expectations. NONE of that is in the signed contract...only that the work be done by a licensed contractor. So when the work is completed, the title office should release the rest of the funds to me. 

I sold a property that we owned in the state of Washington a few months ago. We closed on the property but 10k of the money was held back because the buyers wanted eVerything on the home inspection fixed instead of just taking the 5k we offered them and doing it themselves. (They paid over 30k over asking price) So here we are 2 months later trying to complete the things on the list one of which is a window in the garage. In the contract we signed it said “put in/fix missing window in garage” no other information was provided so my realtor told their realtor the time and place the window guy would be there. Of course the buyers realtor doesn’t show up with any additional information so my realtor and the window guy assess the garage and they find no “missing window” but they do find a window that was cracked so they assumed that was what the buyers wanted fixed and so we paid for it to be fixed. Come to find out the buyers are furious and demanding that we cut out a hole in the garage and put a window in rather than fix the little window that was broken. We explain to them that this is their fault and their realtor’s fault for not passing the information along to us or showing up for the window guy.  I told my realtor they will not be getting any additional “missing windows” put in as our professional window man said there was nothing of the sort. She informed me that the only thing they could do is take me to small claims court over it. Never had to use a real estate attorney before so thought I’d get some opinions. 

My question is, do I have a valid case here if taken to court? Can they even take me to court when I live across the country away over this? Should I have anything to worry about here? Thanks in advance! 

Hey everyone thanks for the suggestions. Dave, we have closed on the property, but 10k is still being held back to do the necessary inspection work so I have not received the funds yet, and we have 30 days to complete the work agreed to on the inspection. Would that make a difference on securing 1031? It sounds like I might owe some substantial CG taxes and it might be worth while if possible.