All Forum Posts by: William Coet

Hello,

The state took a side yard to build a new bridge.  They offered us a very low number, and we can challenge it.  I'm guessing we should get an appraisal of our own.

Any further suggestions on how we can increase the amount the state is willing to pay would be appreciated!  

Thanks in Advance

-I wonder if there is a way to do this with an "escrow" type of account.  If the investors put the money into an escrow account that a bank could confirm, then maybe the bank would lend on it with the escrow as collateral.  The bank could lend in drafts like they do with construction loans.  This would cut down on returns because of interest on the bank's loan

-Another option is to leave a bank out of it, and fund it just like a bank does.  Have a system where funding is released after project benchmarks are completed.

........

Do the properties come with clear title?  Do they come with a warranty deed?

Thank you

We had a side yard taken by the state to build a bridge.  They took to within 8 feet of the residential building (on the side, not the road side)

Their appraisal and offer were nonsense.  The appraisal was based on land costs for rural land (not the value of a side yard). Think about it; how many comps can they find for people who have sold the side yard of their house?  Probably none, and therefore they had no comps....

We still have the opportunity to challenge their lousy offer, and I like the idea of appraisers who specialize.  

I'll post back with any useful info, and will be watching the thread for the same.

Thank you for the reply!  

Is there any way to convince them to sign a contract even if it doesn't meet the reserve?  And who is it that the contract is with?  I'm guessing the bank..

Some use the rule of no more than 20% of jobs being provided by a single employer.  Corning breaks that.  However, IF the employers are stable than it may be ok.  

Hello,

Have not bid on an auction . com foreclosure auction and have a few questions.

1. Is there a way to determine what the reserve is?

2.If it doesn't meet the reserve, what happens with the property?

3.One website called realtytrac shows the property having a "transfer value" of $93,000.  What does this mean?  Is this the price the bank bid at the foreclosure auction?

Any other comments about bidding on auction. com would be appreciated.

Thanks in Advance for any help,

Bill

 Where does demand come from for Airbnb in Poughkeepsie during the months of January and February (cold months)?

Losses when expenses exceed rental income