All Forum Posts by: Ricardo Meza

One catch that may come up is if the the HOA is ever caught in litigation, this may hamper your ability to unload the condo at your convenience - it deters buyers and banks.

Another catch may be if the condo needs, or ever will need improvements, you may be limited in your material choices. For example, if you buy an upstairs unit, and you prefer hardwood flooring, the HOA may put a kibash on it because it's written in their CC&Rs that this is a no-no - due diligence when reading those.

Your best bet is to find an investor friendly realtor.  The added bonus would be if they are an investor too.  You never know what you're going to get if you call one at random, so find this person at your local real estate investment meetup group.  Search on bigger pockets if there's a group near you.  Good luck!

The investor should be at the top of the decision chain.  Now, that may mean deferring to the GC's/designer's expertise/experience, but the investor needs to know what they are investing in.  

Thanks guys, I learn so much from your feedback.  

I do have a link to the disclosure.  

https://www.dropbox.com/s/w3mwgzk16msx907/Foundati...

It doesn't sound as scary as I initially thought.  It sounds more like a drainage issue in the backyard, but there are repairs to be made.

Any pearls of wisdom from the experts on the disclosure?  Worries?  

Thanks, as always.  

Thanks @David Song.  A bit more info, the owner discovered a leak so the seller is offering to have it (the foundation) repaired or offer a credit.  Is there an advantage one way or the other? 

I'm going to look at a property that has a foundation crack.  I don't know the extent of the issue, but, what are some things I need to consider before making an offer?  Would there be concerns for the rest of the property if the crack is isolated in one room/area?  

As always, your insight is appreciated.  

One way is to go down to the County Clerk and request this info, since it is public record.  There will probably be some fee, probably dependent on the number of names you're requesting.  

Or try asking the neighbors, if you haven't already done so.  

Good luck!

Have you tried contacting those on a list such as...

http://fha203klenders.net/new-jersey-nj/

That's how I started.  

It's a horrible situation, I know, but it's the market I'm in, frankly.

What are some tactics when you have multiple offers, and some may be too high* when selling a property?  

*The fear is a bank may not appraise the property for the offer being made.

I'm a first time seller, so I have mixed feelings about this.  

Thanks for your input.   

I would approach someone at a local real estate meetup, or someone else in your network with good credit, and have them evaluate your deal.  Perhaps in getting someone interested in your deal, you could partner with them - subject to your strengths aligning and their credit, of course.  Or at least that's what I would try.  Good luck!