All Forum Posts by: Nelson Del Castillo

I am looking for an attorney in the Connecticut area that has experience doing a double close/double-escrow, for a closing I have coming up in the next couple of weeks. Any Recommendations would be appreciated.

Thanks

New haven

Bridgeport

Connecticut

Does anyone have a contact for sewer camera inspection in Connecticut. I have been looking around for some one who does this but can’t seem to find any one.

@Brian Pulaski thanks for the input! Would you do the flip if 80% of the property’s in the area are on public water and sewer? That’s more or less what it seems to be, only a small amount left on septic and well.

@Megan Phillips well I know a new system cost about 25k. It would not be a deal if it needed a completely new system. I could have it checked with cameras for $1000 but I do not want to spend another 1k in, inspections. I would rather walk and spend the 1k in marketing.

I am looking to buy a house with the original septic system. I already know the tank is bad and needs to be replaced, the leaching field could not be easily checked being that they are deep under ground... would you stay away from a house with a septic system this old (house was built in 1972) ? Would you assume that the system is automatically going to go any second because of its age? Comparing this same house apples to apples to a house that has city sewer and city water, would the house with septic be worth less because the system is 50 years old? What are your thoughts?

@Alpha Diawara do you mind sending me that insurance information as well 

@Mohammad Qadir just take action.. a lot of preforosures end up extending. It will take more than just a few leads to get a deal, so just take action.. You will learn, what I’m saying is don’t over think, normally you want to hit anything that is 30 days from a foreclosure sale date.. A preforclosre can go on for ever Nelson

@Norman Miles why do you calculate by square feet that is not an accurate way to do it.

@Matt M.

@Scott Nguyen they will fund 100% of the rehab minus 3.5 % that you have to put down.  Lets say you are buying a property for 60k that needs 40k In work.  They will give you the additional 40k as long as it apraises at 100k after repairs have been made. As far as the fee, the only thing you are paying is 3 to 6 months of pmi upfront which goes  into escrow. So it’s not really a fee, it’s more of a up front payment for pmi. There are conventional loans out there that offer 5% down, a lot of those come with pmi as well, but shop around and see what you find.   To soften the down payment on the loan you can always ask a seller for cash back at closing towards closing cost.  So let’s say a house is on the market for 100k, you can offer the seller 106k with 6k back towards closing.  A lot of banks will allow %3 to 6% back towards closing cost.  Of course, if you can do it with out needing the cash back, your offer is stronger.