All Forum Posts by: Mark S.

@Bjorn Ahlblad What’s your point in posting that? The first thing the OP said was that she made a mistake in trusting the realtor.

@Theresa Harris The agent isn’t the person responsible for disclosing defects - that doesn’t make any sense! They didn’t own or live in the house (in most cases) so they wouldn’t have knowledge of issues unless the seller disclosed them.

@John Mausteller And if the rate hike requests are denied you can expect insurers to continue to pull out of those jurisdictions. Companies won’t agree to continue to lose money on their premiums.

@Bill Brandt Priperty insurers paid out $1.95 for every $1.00 in premium in MN last year.

@Collin H. I guess it could be, but I have seen some pretty scary stuff in cabins there. Very poorly maintained with obvious hazards. Cash grab or not, I believe it will help address some of those issues.

@Collin H. I agree 100%. One of the first things I do when I buy a property is to look it over carefully and do as much preventive work as is necessary.  I see you’re in Gatlinburg. I find it interesting that so many property owners are complaining about the inspections that Sevier county is doing to identify potential risks. I really don’t understand why people would complain about having potential liability issues identified. I’ve gone through several inspections already and welcome the input.

@Michael Smythe why would he need both LLCs?

@Thomas Beard that makes absolutely no sense at all. I spent many years in the insurance business and have never heard of a policy application for an excess, or umbrella, policy to be denied because of a claim, especially a property damage claim. Umbrella policies protect you against liability, not property. Complete different category. There has to be more to this. 

@Fulton Recepcion Are you looking for this option because you don’t have the funds to invest? If so, you wouldn’t want to start down that road even if you find a lender who will do this. Bad idea to invest without the funds to carry you thru start up, capex, vacancies, etc.

@Kris B. Sure, commissions have always been “negotiable”. But try to get an agent/broker to reduce his or her commission, to actually negotiate it, and you would run into a brick wall virtually every time. When most of the agents in a market are charging 6%, with the rare 5%, it’s pretty hard to negotiate as a seller. Especially when the broker refuses to allow negotiating. My belief is that the settlement will allow negotiations to happen a little more freely since the public is aware that this can be part of the process. The difficult part is going to be for buyers who will have to either come up with the funds to pay their broker or negotiate seller paid closing costs to cover it.