All Forum Posts by: Jim Gordon

The lender may not pay any closing costs for the buyer but when they agree to a short they know that the current owner can not bring cash to the table so they absorb the selling costs of the property.

The lender pays the brokerage fees for the sale of the property and normally the listing agent takes a hit on commision. The seller will not be out of pocket but also can not recieve a penny from the sale.

It would be common courtesy to call them and let them know that they did not get the job and a reason that they were not selected.

As Wheatie posted none of these options are going to give them any money in their pocket and if they want to buy a home in the area they moving to they may have a problem getting a loan if they go short or hand the home to the lender.

How about getting a second job to help out with cash flow? There are many places looking for part time help and a few hours a week and on weekends could be a solution to your problem until you can work something out.

In Ohio it would be a violation of the State law for the host to do anything but hand out flyers. If someone asked how much the house was and they answered everone involved on the sale side could be fined.

Who owns the property? If you want them to sign a new lease and they won't-- have them leave. If they refuse to leave evict them. You need to let them know that you need them to sign a new one year agreement or they can find a new place.

Sparky
I have never seen a property that has maintance costs of 225.00 per door per year. You need to look at the numbers and you will be feeding the property cash.
If you buy an investment it had better produce an income. Would you buy a stock that you knew was going to be dropping in price and say thats ok because it's an investment?

Minna if you are a Realtor® any advertising you do must have the name of your broker and the fair housing emblem on it otherwise you are opening yourself up to potential problems. It has gone as far as my signature on this forum for the identification that you should make.

Here in Ohio courts have public access on the internet for cases. You also need to check for other names. I had someone fill out an app and he put down his name as D**** his liscence had L**** as the name and I ran that also. 10 years of rubber checks and he was on probation and had warrents because he was not making restitution. No thanks! By the way always check the drivers liscence.