All Forum Posts by: Lynn McGeein

@Brad Banks Some models do have bidding wars. So does art, antiques, etc. Each parcel of land is unique, no mass production. Unlike personal property, real estate also requires agreement on closing date, repairs, etc., so even if list price, cash is offered, another term might not work, so likely no way to hold a seller to sell until they actually sign an offer. Some listing agreements infer that commission is owed if an offer comes in at/above list price, but it usually also says something about with terms acceptable to seller.

@Tom Server if the seller is not the one listed in our current tax records, we normally require the documentation that they have the right to sell before we can list it.

@Ebony M Marshall quick search says Chicago, landlord has 45 days to itemize damages and return deposit. I’d maybe start with, I agree with $x amount even though you missed the deadline but expect the rest returned to me within x days, or I plan to contact tenants rights group to help me seek all damages allowed.

@Josh Fugle both. Initially started local, when market too high locally, researched fastest growing markets within driving distance, invested there. When spouse took a job where we moved a lot, we bought in those cities when it made sense, good potential rentals, fixed up while living there then rented when transferred. Single family seemed least problematic, safer, easier to sell one at a time if needed.

Thank you for this detailed answer.  I just looked up the covenants on the online city records, hoping to see an amended recording, and the original 1997 ones appear to be the only ones there, so this helps me understand the issue more fully, if they take precendent over Rules & Regs.  They shouldn't be allowed to issue Rules that clearly state one thing, then issue violations based on another, without explanation.  Not sure why their response wasn't just, 2005 version of rules were rescinded as of x date as they violated 1997 covenants -- shouldn't be that difficult of an explanation if true.  

 Thank you, I've previously requested a copy of the new Rules & Regs, and now have also submitted the request stating I need them even if I need to order and pay for a whole resale disclosure package, although that shouldn't be required for a long-term owner who just wants the Rules & Regs 

SF detached in Raleigh HOA, we've owned 15+ years with minimal HOA issues, the occasional "needs pressure washing." Now new HOA management is issuing violations, saying No Commercial Vehicles allowed. Our 2005 version of Rules & Regs clearly state "Parking Rule: Exception: Commercial Vehicle 1-ton or less allowed in driveway only" (no street, yard, etc.). New tenant has such a vehicle. The HOA won't even acknowledge that our 2005 Rules & Regs ever existed, won't provide us with updated Rules & Regs or even confirm whether a new version exists. Our version is available even now for download on our old Towne Square HOA account, (mgmt thru 2020, I think). No Rules & Regs of any year can be found on the new management's website, only the original 1997 CCRs. I've asked for any documentation that these 2005 Rules & Regs were rescinded, changed, or no longer in effect. HOA management only replies by quoting the statement from original 1997 CCRs, no commercial vehicles; they will not address the discrepancy between our 2005 version of Rules & Regs that allows them, obviously showing a major change since the 1997 CCRs. Are they allowed to just rescind Rules & Regs with no explanation? Are Rules & Regs not valid HOA docs in NC?

@Benjamin Sulka what does your buyer broker contract say? If the brokerage fee is owed to them if you buy any property, even without their assistance, then you owe that brokerage the full fee specified in your contract. We never signed an exclusive buyer broker agreement.

@Wai-Ming Lau in our area, licensed inspectors do not give estimates or complete repairs - it’s a different term in our contract for using contractors vs licensed home inspectors. Many investors bring their contractor with them on initial viewing, but it’s usually an established relationship. When the market was slower, you could negotiate for home inspection and contractor estimates in a 10-day window. Our area is still too competitive for that.

 If this real estate agent represented you, why was he/she sharing applicant info with other applicants?  That may be a license violation, may be worth looking into. Either way, I could be wrong but I don't think marital status is a protected class, maybe is in your state or local laws, and I think familial status protection is if denial is based on not accepting someone with a child or expecting a baby.  Definitely consult a local attorney as it can be expensive if she really has a case.