All Forum Posts by: Lennox Matsinde

Originally posted by @Grant Rothenburger:

@Lennox Matsinde I'm not sure the legal answer, but from a morality stand point, I would inform people of foundation work. Wouldn't you want to know if you were buying the house? 

I'm assuming the answer to the question is yes, but not 100% sure.

 Thanks Grant.

Howdie folks.. bit of a newb question here..

When selling a property, is the seller obligated to disclose any repairs that were done by the properties previous owners, or is the current owners obligation only to disclose issues or repairs that occurred since they assumed ownership of the property? For example, if the prior owners had hired a specialty contractor to install some piers to the foundation in response to some settlement issues that they observed during the time they lived in the house, am I obligated to disclose the work that they had done to the foundation slab, since its an issue that was resolved prior to me owning the property?

Howdie folks.. bit of a newb question here..

When selling a property, is the seller obligated to disclose any repairs that were done by the properties previous owners, or is the current owners obligation only to disclose issues or repairs that occurred since they assumed ownership of the property? For example, if the prior owners had hired a specialty contractor to install some piers to the foundation in response to some settlement issues that they observed during the time they lived in the house, am I obligated to disclose the work that they had done to the foundation slab, since its an issue that was resolved prior to me owning the property?

Howdie folks.. 

When selling a property, is the seller obligated to disclose any repairs that were done by the properties prior owners, or is the current owners obligation only to disclose issues or repairs that occurred since they assumed ownership of the property? For example, if the prior owners had hired a specialty contractor to install some piers to the foundation in response to some settlement issues that they observed during the time they lived in the house, am I obligated to disclose the work that they had done to the foundation slab, since its an issue that was resolved prior to me owning the property?

Thanks @Thomas Mattausch. I've definitely been in a pickle decision wise. This would need to be a part of my portfolio for a long time. i'm really reconsidering the amount of risk i would be exposing myself to

@Graydon Manning very late to the party here but had a quick question. In the event that you move out of your home and decide to turn both the main dwelling unit and the accessory dwelling unit into rentals, what are some potential negative ramifications that could arise? (assuming its non permitted and technically not on the cities radar for code enforcement) 

@David Benjamin did you ever get an answer to the insurance policy question you asked?

Thanks @Ruth Bayang. I spoke with Tarl at the last fixated event when they brought in Brandon from Bigger Pockets. I'm hoping to make it to at least one of the days of their expo. I do go to a decent amount of the meetups around town, but I probably still need to work on my networking skills at these events. I'm somewhat new to the area so its been a work in progress. 

Thanks @Corey R. I was outbid on a town home near the west Seattle super supplements a few weeks ago and we are in the process of submitting an offer for one in the south Delridge area. Both have been MLS deals with offer review dates so as you would imagine, competition has been tough (esp with the low inventory in that area).

I've never quite grasped the whole concept of driving for dollars I often hear about. Like, how do the logistics actually work in the real world? Do i just go about knocking on doors, asking people if they are open to selling their house? Take for example, you as a homeowner in that area. How receptive would you be of such advances? and in a hot sellers market like Seattle where basically everyone that owns property knows they can make a killing if they list on the MLS, how common is it to really find those type of off-market deals?

Thanks again for input.

-Lennox

Thanks Cindy. That's kinda why I've turned to biggerpockets to try and broaden my local network.

@Riley Kuranishi Thanks for the response. I just shot you a message.