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All Forum Posts by: Michael Stole

Michael Stole has started 70 posts and replied 208 times.

Post: why most HUD houses are sold beyond 10 days

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hi, Marc, thanks for your reply.

Originally posted by Marc Freislinger:
HUD homes often have a 10-15 day "Owner Occupant" bidding period. Only after that time can an investor bid.

Post: why most HUD houses are sold beyond 10 days

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Ok, I just googled it, and found that the first 10 days are only for occupant buyers. Then the question is why occupant buyers dont buy HUD properties in the first 10 days when they face much less competition from investors? Does this mean that most of the HUD propeties are bought by investors?

Still, can any body tell me what is the qualification for dollar houses provided by HUD? and are dollar houses available only availabel within a certain frame, for instance, after 1 year been on the market? thanks.

Originally posted by Michael Stole:
I just found that most HUD properties remain unsold in the first 10 days on the market, and right after the 10 days, a lot are sold very fast. So what is the magic of the "first 10 days", is it just a random phenomina or a result of certain policy that I don't know? Any comments or information is appreciated.

Post: why most HUD houses are sold beyond 10 days

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

I just found that most HUD properties remain unsold in the first 10 days on the market, and right after the 10 days, a lot are sold very fast. So what is the magic of the "first 10 days", is it just a random phenomina or a result of certain policy that I don't know? Any comments or information is appreciated.

Post: overhead or underground electrical service?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks. I will call the power company.

Originally posted by Marc Freislinger:
A call to the electric company would resolve this easily. They have the requirements that you'll need to meet to have your new service hooked up.

I assume it will be cheaper to stick with whichever type of service you currently have, if they allow it. Trenching in new line is probably expensive.

Post: overhead or underground electrical service?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hi, BPers, I am back with more questions. Now I got several quotes for electrical in my house. One thing strange is some said overhead service while others underground service. How can I figure out who is correct, or it is an "either or"? Shall I call the power company to verify since eventually they are the one to connect the service? Thanks.

Post: who is the owner of a probate house?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks for the reply.

So the executor does not really care how much the house is sold, since it is not his/her property? so a potential buyer will have more bargaining power in the negotiation?

Originally posted by Chris Colvard:
Hi:

If it says probate in the listing it is probably being listed by the executor/personal representative. They will have court approval to list and sell the house.

Hope this helps.

Post: who is the owner of a probate house?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

For a probate house listed on MLS, who is the owner of the house, since the previous owner has passed away?

Post: Rehab matierial

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks to the above replies. They are very helpful! I am gonna print this whole page right away.

I like this forum. Whenever I have a question, I can always get some help right away from here. Thank you.

Post: Rehab matierial

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

If the interior of a house is almost empty with only wood frame, plumbing, electrial wiring, and HVAC duct, what building material (not including appliance) I need to buy? Right now I can think of (in the order of time of installation):
(1) wiring for phone and TV.
(2) insulation.
(3) ceiling dryall and wall drywall
(4) paint
(5) wood floor or carpet
(6) trim and baseboard

Did I miss anything? Thanks in advance for any thought or reply.

Post: For how long is a listing contract valid?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Usually for how long is a listing contract valid? That is, how long does a listing agent have the exclusive right to sell your house? Is that specified in the listing contract?