All Forum Posts by: Marita Jojo

Coronavirus is causing lots of places to be in lockdown. How does this impact the closings of real estate deals ? Do we have any options of virtual closing ? Banks might also be not working will full capacity and that may affect closings too ?

Is there any law saying that payment of sewer bill is landlord’s responsibility? What everyone is doing ? Do you pay the sewer bills or tenants pay those ?

@Stephanie P. Thanks for this information !

@Carter Crowley good to know that thanks

I am buying a multiunit rental and the rate I am getting is “ the rate will be calculated 5 business days prior to closing and will be fixed for 5 years at a rate of 275 basis points over corresponding federal reserve statistical release H.15 five year treasury constants maturity with a floor of 4.5%. An indicative fixed rate based on the index and floor as of trust would be 4.5%. After the initial 5 years the rate will be reset for additional 5 years based on a fixed rate of 275 basis points over the corresponding federal reserve statistical release H.15 five year treasury contract maturity available at that time with a floor of 4.50%. “

There is also 1% loan commitment fee and $500 documentation fee.

Please guide if it is something to agree or keep looking further ?

@Michael is this rate only on refinance what about new loan ?

Hi Shain yes the offer was accepted by the seller. Our realtor called to check why it is not showing under contract and the listing agent falsely mentioned it is on MLS that is still not the case.

Thanks for the response Nathan. Yes we have a signed contract from the seller. What got me worried was a friend mentioned he had called the listing agent recently and we have been in contract for 4 days at that time and the listing agent did not mention the property is under contract and said we are presenting offers to seller tomorrow that seller is going to review. He did say not accepting any new offers. Is it something that they are trying to cover up just in case the inspection fails it doesn’t show up on the listing that it was contingent or under contract and then came back ? I know we have a legal contract so they can’t accept any other offers but keep in standby only.

@Shain Ismailovski not sure if I understand the local review process there is no need for use and occupancy certification in this county. Closing date has not been established.