All Forum Posts by: Steven Mitchell

We are about to close on a property.  Just got the survey back, the casita in the backyard encroaches on another property by a whopping 18 inches. The casita looks like it has been there at least two decades.

Is this an issue?

Just from some googling, it says if a property encroachment isnt immediately addressed, the person could lose their property due to the adverse possession law.  Or something like that.  

We are worried this will become an issue when we try to sell it. Any thoughts are much appreciated.  We are in Texas in a historic district.  

Hey guys dianne is the project manager, ill get her to come back and answer your questions.  The latest foundation bid is now 27k!!

@Mark Gallagher cut floor joints

i dont understand, if we dont fix it it wont pass inspection and it wont sell, correct?

the cost went from a standard 10k fix, to 20k, killing the deal after we bought it.  now we are trying to sell to other rehabbers and eat our loss early.  The other rehabbers are seeing the foundation issue and wont touch it either.  

We recently bought a house, after getting two foundation bids, a stinker with cut floor joints.  This added another 10k to the rehab and killed the deal for us.  

How do you guys protect yourselves from this?  

We talked to an inspector.  Getting an inspection wouldnt have saved us as they say "we can only inspect what we can see".  

@Mike Krieg thats awesome man! We keep shopping for rentals and cant get over 1%. Are you shopping MLS?

we are worried with any injuries on the property that could result in us being sued.  

thanks for the replies guys, we will use 2%.

through REIguard who was recommended here.  They dont protect against theft or injuries.

Is that pretty common?  I had thought when getting insurance these are the two things I was trying to insure against.  

Did we get the wrong insurance?

thanks!