All Forum Posts by: Jerome Mosetic

@Ron S.thanks for responding, she is busy working on it at the moment

My partner purchased a 2bed/2bath condo in Palm Desert where she was living and working

Unfortunately she had to relocate for work and she is looking at  LTR and potentially MTR. She lived in the condo for 12 months.

Her current home owners insurance will not suffice for this purpose, looking for referral for insurance providers so she can get estimates in preparation for renting out her condo

@Timothy Muhlbradt you find someone to do your garden work? Weeding, I am looking for someone to do the same for my partners place in PD

@Brianna Salas did you ever get some referals on GC in palm desert?

@Chris Seveney thanks for response and insights, my partner is requesting a formal quote from HVAC company as she was given verbal amount. She will consider submitting another offer if the seller it open to this, if not we walk away and continue our search.

Have good day

@JDMartin thanks for the food for thought

Thanks everyone for input, nice to have a sounding board on this forum.

@Sergey A. Petrov thanks for input, I don't think the deal makes sense anymore mainly due to us putting in offer 12k above list price and further cost of replacement and remodel budget, I think we would be over capitalizing on the property

@Mason Hickman thanks for response, we waiting for comeback from our realtor, we have informed her that we are not happy with proceeding due to result of further inspection on HVAC which is big ticket/costly item to replace.

Hi All

My partner put in offer for first time home purchase which happened to be a bank owned foreclosure property. The terms in contract state that this" is as" purchase.

We were aiming at doing in a live in and flip on this property
Her offer was 12k above list price as there were multiple offers, our offer was accepted

When we viewed the property the home was winterized, and there was no power of water on.We really like the location, and planned on doing full remodel as the condo had a lot off potential.

The utilities were turned on for inspection

We just had inspections done and the HVAC unit was not working/cooling down the space, there were a lot of smaller items but the HVAC issues warranted further investigation

We then proceeded to get HVAC contractor specialist for further inspection and they said it could be repaired but since this unit was 2005 unit is is highly recommended to get a brand new unit as the reliability of the old unit and the repair is not guaranteed 

We have now decided that we would like to back out the deal while still in time period for inspection contingency, especially since we are offering 12k above list price, the new HVAC unit could cost in this range or above

What's your thoughts on our decision, our understanding is that seller(bank) will not negotiate due to bought "as is" 

What are chance that they would accept a different offer?Our thoughts now are knowing this we would only put in offer below list price knowing this defect?

Any words wisdom would be great

@Billy Daniel  Thanks looks like a treasure trove off information, will be good learning resource

@AjParikh, thanks for the message, at this stage not looking at out of state or turn key, thanks for touching base tho