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All Forum Posts by: Steve Babiak

Steve Babiak has started 70 posts and replied 12706 times.

Post: Covering my backside

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349
Originally posted by @Joseph Micheal:

Hi All!

I came across an off market deal on a duplex in Philly.  The property is owned by the agent.  My personal broker has tried contacting her unsuccessfully.  My impression is that this agent is interested in representing both sides of the deal. 

How can I cover my butt in this situation?  Contract contingent on inspection?

How else can I negotiate?  What would a common commission in this situation?

Thanks all in advance for your input!

 I re-read the original post. The seller is not going to be representing you as the buyer - or at least you can’t believe that. The seller just doesn’t want to pay a commission to your agent. If you normally use an agent, you can pay your agent’s broker to represent you (or hold your hand). Or consider an attorney if you have concerns.

But this seller is only looking out for their own interests, you can bet on that.

Post: Covering my backside

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349
Originally posted by @Joe Norman:

If the agent isn't responding to your agent then he's likely breaking the Realtor code of Ethics, and Bright MLS rules, requiring clear cooperation. Have your broker (not your agent) call his broker.

It's off-market, so MLS and Bright aren't going to have a say.

Whether we call it an "office listing" or "pocket listing", we don't know whether the seller has specifically stated to not put it in the MLS. The seller could have some privacy concerns, for example.

Post: Basement Egress Requirements

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349
Originally posted by @Alex Uman:

@Matt Dixon Egress is only required in the basement if you plan on including the basement square footage as apart of the total square footage of the property. …

 That is not how building codes read, at least in the past decade. Finished basement space must have egress - period - if done within the past decade. Basements that were finished  over twenty years ago would be grandfathered.

For the subject property, we don’t have any record of when the basement had been finished; I am assuming it was done in the 2018 remodel. Perhaps it was done more than twenty years back, and just freshly painted in 2018. No way to be certain.

And below grade space is normally not included as part of the interior square footage - at least by competent appraisers. So adding it to a listing’s square footage is … well, shady IMO unless it is stated separately as something like “finished basement is an additional xxx sq ft”.

Post: Contractor not responding at all

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

You need legal advice. Send me a colleague request requesting the name of an attorney I have used for such matters. Can’t post that online.

Post: RentApp.com - Has anyone used it??

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349
Originally posted by @Grigory Pekarsky:

I guess this app is no longer on the market. But any applications like this make he rental process is a lot simpler by providing a mediator platform between tenants and landlords,  saving time during the screening process. 

 A LOT of these apps and websites targeted at serving rental property owners and managers go defunct.

So it makes sense to examine the business’ plan for bringing in revenue, and whether you believe that will be a viable plan or not, before committing to using it. If it doesn’t look like they will be bringing in much income, eventually they will shut down.

Post: Basement Egress Requirements

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

Well, there is no egress visible anywhere in that basement. It appears a permit was obtained in 2018 for renovation, and it was an EZ permit that reads: 

“APPLICANT AGREES TO LIMIT THE CONSTRUCTION TO COMPLY WITH EZ PERMIT STANDARD FOR INTERIOR ALTERATIONS, DATED JANUARY 2011.”

Link to the permit: https://li.phila.gov/Property-History/search/Permit-Detail?address=1759%20N%2027TH%20ST&Id=855532


So they didn’t comply, and the inspector didn’t do anything. Some will operate that way.

Post: ISO mortgage lender for an LLC

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

I guarantee that you will have to sign a personal guarantee ;)

Post: Finding public records for landlord complaints or evictions

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

There was a different search page in the past that had an option to view landlord tenant cases; that seems to be gone, and you get a redirect to the new search page that does not have that option.

My main use of that search is to avoid problem renters, so it still seems to work for that.

Post: Finding public records for landlord complaints or evictions

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

The search link should be found at the link below: 
https://www.pacourts.us/public-records/court-case-information

Post: Domestic Abuse and Evictions?

Steve BabiakPosted
  • Real Estate Investor
  • Audubon, PA
  • Posts 13,452
  • Votes 8,349

Tell him rather simply to just go away, otherwise the PFA will have to be enforced, and that will lead you to filing an eviction against him. Tell him the domestic abuse will show up on background checks, for strike one against him; the eviction would then also show up in a background check, and that would make two strikes against him rather than just the one. Then tell him the more strikes against him, the harder it could be for him to find another rental. You're just trying to make it easier on all involved.