All Forum Posts by: Jennifer Duke

Thank you @Chris Correia. Thank you @Wayne Brice. 

Has anyone done business with Real Wealth  Kathy Fettke, Frederick Bates and Scott Stringer? Please, What was your experience with them? I'm looking at their syndicated project in Reno. Thanks

Thanks, @Mike Cumbie, yes, the agent sent a request for the EMD.

HI @Maria Diegelman, Thank you, this is useful. Get details. Thanks. 

I am selling a house in the orange county California area. 

Buyer has been saying for more than two weeks that they "cant get their money out of their account". It's a man and a woman. I'm guessing somebody is ambivalent. The sale was scheduled to close today but they have not submitted their request for repairs and have not moved forward. I have no other offers. Realtor has produced two offers in 3 months and one was $50K below asking. That offer has gone away. My 3 month contract with him ends today. He was very helpful with me during the rehab process with construction challenges and graciously offered a 1% sales commission. The market is extraordinarily slow. I have already dropped the price $120K. Buyer has only put in 2% earnest money. The buyers' realtor says that they will have their money today, but I heard that last week. If they don't come through today, how to move forward. Yes I can cut more losses. What to do? 

Thank you @Louis Simmons Jr.

Thank you@Javier Marchena

I will talk to permit office and ask, and consider an inspection and speak to the lawyer to write a notice. Thanks. Yes, Actually new contractor has indicated he would be willing to take it over. 

General contractor (contractor #1) called for inspection but has not returned in over a week to make corrections. He is also 6 weeks over his projected finish date. He left a cap off the new tankless heater, causing a need for an emergency gas company fix it on a Sunday morning after I noticed a strong smell of gas outside. There have been issues, delays, unreliable statements and an overall unpleasant experience. 

Good general contractor (contractor #2) was working on some outside construction got curious and noticed some electrical compromises in the attic. 

I clearly need to change contractors mid-inspection phase. I'm almost done. 

If the work was completed satisfactorily, I would pay the contractor #1 $9000 for final payment on a project that cost $130K so far. 

How to best make this transition to a new contractor? 

Finishing a project  in Santa Ana and have 5 projects in yard area that require a contractor, two will require a permit. Please help or suggest someone who has time this month thanks

Orange county CA 

There are four forms to release a mechanics lien in california: 

Conditional waiver and release upon progress payment 

Unconditional Waiver and Release upon progress payment

Conditional waiver and release upon final payment 

Unconditional waiver and release upon final payment

I recently got out of a bad partnership and the partner signed his 50% rights over to me so now I am 100% owner. I filed a quit claim deed in Jan 2016

The contractor filed a mechanics lien on Dec 31 2015 for $35000 after the bad partner released his interest on Dec 30, 2015. I believe to make sure I didn't sell the property out from under him.  

Contractor and I are working together cooperatively and we are moving forward with the project. I made a small payment today for $8000. He is willing to sign a doc to release the lien for the full amount of 35000. We should finish construction in about 4 weeks and I will  continue making payments to the contractor and then list the property. 

Legal consult over the phone said use Unconditional waiver and release upon progress payment and that seems right to me. I just want to double check as there is no place on the form to write that he is releasing me from a $35000 claim. 

I want to release the lien now so that I can refi or rework the original loan doc to reflect that I am sole borrower. I want to do this because I have been advised that if the old partner is on the loan paperwork, that he could make some claim to the property  and proceeds, although this flip is indeed a flop and there will be a loss. 

thoughts on this? Thanks in advance. I am appreciative of this forum. I am still a newbie in many ways. 

@Bill Gulley Thanks for your response.

OC is orange county, California

No relationship between the former partner and myself except for being business partners on this project.