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All Forum Posts by: Yong Lai

Yong Lai has started 12 posts and replied 37 times.

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

I wonder if I can sue the seller's agent for putting illegally built house on MLS?

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Yes, @Nik Moushon, that's what I am going to do first thing next Tuesday. I suspect nothing was inspected, so lawsuit probably will be back on the table again. Thanks!

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Yeah, I talked to my lender and they don't know how to handle such thing. I also talked to a couple of lawyers, the expected lawyer fee way over weigh the cost to fix the permit issue myself. I suppose that is what I am going to do.

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Hi @Bruce Lynn, thanks for your advice, can you send me the contact info of these attorneys?

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Hi @Pete Harper, exactly, I called the title company but the person who handled the case wasn't available at time. Left a voice mail and am waiting for hearing back from them. It is a conventional mortgage, not all-cash. I called the city already, and the person who handled the permit pulled by the seller told me that the permit expired due to inactivity so basically there is not built on the lot based on his record. 

Hi @Mohammed Rahman, the title company is called National Title, I think it is through the builder/seller's vendors. The house was built on a lot where the old house was demolished. Not sure if that is why the bank didn't have problem with title search? Maybe they are using the old house's permit?

Right now I am just looking for lawyers to sue the seller, I am hoping to rescind the contract.

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Thank you, @Vernon Watts. I actually want to rescind the contract. I don't want to deal with a property that is built illegally. Not sure if I can win in this case.

Post: bought a house but found the construction permit is missing

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Hi all,

I bought a house in Dec 2021. The house is a new build and close to Dallas downtown. Now I am trying to install solar panels on the roof and find out that the construction permit for the house wasn't completed. The city of Dallas notified me that the builder/seller pulled the construction permit in July 2021 but never completed it. Now the permit expired due to inactivity and based on their record, there is basically nothing built on the lot where my house sits. I contacted the seller but he simple doesn't respond. I contacted this seller last year regarding the house quality issue and he simply denied any responsibility although the house was still under one year warranty. What should I do in this situation? Should I go to the lawsuit route? 

thanks,

Yong

Post: My First BRR deal!

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15

Hi @Jacob Maes, yes, please, PM sent.

Post: My First BRR deal!

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15
Quote from @Joe Funari:

@Yong Lai I would suggest you reach out to Finishing Touches remodeling. https://www.facebook.com/Finis... They have helped many of my clients over the years with rehabs. They are reliable, reasonably priced, and will definitely itemize your quotes. Let them know I referred you. 

 Thanks for the reference, @Joe Funari!

Post: My First BRR deal!

Yong Lai Posted
  • New to Real Estate
  • Dallas, TX
  • Posts 42
  • Votes 15
Quote from @Mohammed Rahman:

Hey @Yong Lai congrats!! Basements are super rare in TX I've learnt from my friends there, that's an awesome find! 

I own properties that have sump-pumps (on the East Coast) and as long as the pumps are always working then you shouldn't have any issues. Just be mindful that I've had tenants unplug them to save on their electric bill, which resulted in minor flooding... so make sure when you rent it out to explicitly tell your future tenants to never switch off sump pump. 

Agreed on the bit with the contractors, it is a good idea to collect multiple bids - If I'm in your shoes, I would also ask my agent to see if they can recommend some contractors. Most agents that work with investors also have their own network of contractors/vendors/etc. that primarily work with investment properties so they'll have a better grasp of what work is needed. 

 Well said, thank you, @Mohammed Rahman!