All Forum Posts by: Kate B.

I ran into problems at the hubzu site -- for example, you can enter your state broker license number to get an access code -- and they tell me wrongly that I am not licensed in my state.    So, I send them an email inquiring about that.   This is their reply:

"Thanks for contacting Hubzu Customer Care. This is an automated reply, but we’ll be in touch shortly. If you don’t want to wait, you’re welcome to visit our FAQs page. You might find the answer to your question there.

You’ll hear from us soon, so please be sure to check your Junk folder in case our response ends up there.

Thanks,

The Hubzu Team"

As you can see, they have a link to a FAQ page, but try clicking on it:   Under Construction.  They are the ones who sent me there.   Incompetence, again.

This sort of incompetence makes me reluctant to use their site, but I might give it a try.  My family is full of lawyers and I have an excellent real estate lawyer.

Welcome Tareq!   I've been coming here a couple months and found it's a great place to learn.

I don't care if someone else buys it with their eyes open.   By the way, it's an ugly building.

Two upstairs units are on landlord electric meter and covered by higher rents.  Two downstairs are separately metered.   That makes three.

The property is 9-11 Lincoln St. in Granville, NY.    A home inspection revealed vermiculite insulation in the attic.   The EPA does not recommend testing because 70% of vermiculite contains asbestos, and the testing is unreliable.   There are abatement programs with financial assistance.  Seller rejected my final proposal which included seller doing the abatement.  

Update.  Seller rejected my final position after the inspection report.   I expected this and have already changed how I will do things in the future.  

Thanks for the discussion here.

A little while ago (Eastern Standard Time), I gave the seller's broker my final position re the vermiculite in the attic in the property I have a contract to buy.

I required that the seller remove the vermiculite before I purchase it.   There are several reasons for this.  Seller is local to the area and I am not.   All of the tenants have leases with the seller.   If there is any interruption in the tenants' use of the property during the abatement, I want her to deal with it.     Also, I do not want to buy this property with a future thought about how and when I will deal with it, even with credits from the seller.   I have many other things to do.

I told the seller's broker about the Zonolite Attic Insulation Trust and the possibility of 55% reimbursement.   

To repeat, I required that the seller address this and not give me monetary concessions to take care of it later because I believe seller is in a better position to do this.   And I can wait.    Money had nothing to do with it.   Time, convenience, and location trumped.

This discussion made all the difference to me, and I am grateful.   I tested how it would fit this property every time someone offered information and advice.   Thank you!

My plan is to require the seller to remove it, and I will pass along the info about possible reimbursement from the trust Michael provided a link to.   I won't buy it if the vermiculite is still there.  Period.

My mother's best friend died of mesothelioma, just from asbestos in her house.  No one will ever convince me it is exaggerated.  Not when your exposure is in your own home and it kills you.

Michael, thank you!

I have a picture of the electrical wire that is exposed.  It slipped out of the plastic thing that encloses it.   

I've learned since posting here that the seller is not willing to do anything about the asbestos in the attic.   I expect to walk away.   I am not taking on a problem that will make selling it difficult.