All Forum Posts by: Mike Cumbie

Hi @Jesse Anthony Buffa

Make an offer. Worse they say is "No". Sounds like you have access to your 45, if the 60 is connected "Not landlocked to you". You might choose to make an offer through someone else. If they know you can reach it it may change things. Another piece to consider is that they may love that it is "wild" and not built on. Making an offer with them knowing you want it for rec land may make sense and give them the security they need to get rid of it.

Good Luck! 

Hi @Andrew Millard

If both are on the lease (and local laws don't dictate and there isn't a bunch of stuff I don't know). I would write a check out to (Payee) "Tenant 1 AND Tenant 2". Memo line says For security deposit on "123 Main street". Sounds like their problem, wouldn't make it mine. They have to come to terms and split it as they both agree.

Just my 2 cents and good luck!

As a side note: If the buyers agent came to me and said "We are digging up your yard to do a more in-depth septic test". Our contract specifically states how much the buyer is placing in escrow to return the land to it's same condition. This often is $5,000 or more. If your contractors break a pipe, you are stuck replacing it (Even if you don't buy). It's almost worse if they don't find any problems. You pay $2500 to verify a septic that would cost $5000 to fully replace is fine. 

Hi @Sean Llewellyn,

Septics in different areas are different. I have redone Septic tank/fields complete for $2500. I have also seen $23,000 (Had to be a raised bed system to new code etc). I guess the mindset is that you called a couple experts and they gave you their opinion based on the limited amount of information they had. Neither sounded like they saw huge issues. Just "They didn't know" and you pay them to throw everything they see as a possible issue at you. They had at most a couple hours and were confined to "Non destructive" means. The beauty of that is, if the seller knew there would be evidence of their destructive means...... 

I won't tell you to go ahead or not go ahead, I will say that there are always unknowns. You can only work with the information you have. You can most likely keep paying hundreds/thousands to keep digging, but at some point you have to leap (Or keep paying people to dig until they find something really bad, then back out and keep paying them). I am in a market with a ton of 1800's houses. Most of the time they are some solid structures that aren't going anywhere. Luckily there is usually a solid set of handypersons that are well versed at keeping them on life support. Sometimes for 30 or 40 years limping along. I never recommend "Bringing one to it's former glory, with the crown molding and the stain glass, preserving the natural.... blah.) If it has gone down the road as a livable dwelling, then Keep it there.

Just my 2 cents and good luck in whatever you decide. 

@Mike Dymski

"I must have screwed this one up because I have been investing for fifteen years without one."

I thought South Carolina was an attorney closing state like we are? Of course I'll trust your on the ground experience. 

Hi @TC Chang

Whenever they reassess here I get a flood of calls. I make up a CMA and they use that to fight (or often times not). I have a good rep with many of the assessors in the area so they take my opinion with some value. Either way I don't "Fight them" for the homeowner just provide my opinion of market value. They still go to the meetings and get their say. I am just sort of a piece of information. I will say many times, I let them know "Take the new assessment cause if you want I can list it for that and have you an offer tomorrow!".

Not sure if it is different in your area as locality will have a big difference. But calling an agent and asking them for a CMA (Comparative Market Analysis) is one piece you can use on your side.

I use to do tech support (consumer feedback) and moved onto engineering tech support where people in our own company had to leave "Feedback". The whole star thing is a sham. Max stars mean you had an issue but the person on the other end took ownership and made something bad into something good. Half stars should be "Exactly as I expected, the marketing was a fair representation and the stay was pleasant". 

The whole "anything less than full means you failed" was brought up by some dolt in management as an excuse to avoid raises. It has of course moved into everything from buying a hair dryer to letting me crash on the couch in your outbuilding as I pass through. Sometimes I just want to order toilet paper and if it shows up "As expected" it's acceptable. 

Sadly I understand the stupidity in the system and always put full stars like my "Auto Order of shampoo" was as amazing as the "Hotel stay where they upgraded me to a suite and gave me free room service" simply because the line was long and I had to wait all of 10 minutes (I wasn't upset or even had a stern look, they just offered). Those same companies that use that methodology argue about every penny spent and how you need to "Upsell" everything. 

Just my little rant on the system in general :)

Hi @Miles B.

I am a little different as we are an attorney state, so in the course of my regular business you get to know them. The building I work in has 2 separate attorney offices in it. The attorney I use for LLC's and to close on properties is someone I met through a mentor and many of my clients use on their properties. So I have never had a "retainer". Although I do communicate daily with them on issues for my clients. When needed I have gotten free consultations. When needed I have received affordable representation.

I don't think I would "Interview one" myself, but we are in different positions

Hi @Tamara R.

In your instance a few points. Take them for what they are worth, they are just my random thoughts. Not a lawyer although in this instance I do suggest you get one and sooner rather than later.

1) Someone can't just declare "I have a prescriptive easement" and it is so. They still have to go to go through the steps (Which is why they wanted you to sign something).

2) How much their insurance pays is irrelevant. It doesn't mean now you are on the hook because their policy won't. It is simply something that isn't covered. Does not mean they are in the clear and you get the bill. 

3) Their desire to move it somewhere else on your land is 100% something that they can't just decree. Much less demand you pay for it.

4) If septics are allowed in that area, it may very well be an option for them. Won;t be at your cost, but there are options for them. Through their own yard, through their basement etc. How do you get stuck paying for their problem because it;s easier for them?

5) Now that you do know about the pipe you should do something and soon.

Just my thoughts and good luck