L Smithers
Help what exactly is Prohibition and Risk of Loss of contract?
22 May 2020 | 6 replies
These provisions relate to rights the new owner (buyer) has and include restrictions upon the current owner until closing, per @Mike Cumbie (although the prohibitions are essentially meaningless -- either the title is clear and/or acceptable at settlement and t)here is a closing, or it isn't and there is a dispute).Oh, and the "lending partner's approval" contingency tells me the buyer is a wholesaler who may or may not find an end buyer for this property... so this could be a complete waste of time.
Keith Jefferson
Delay Refi Cash Out on propery purchased with cash
2 March 2020 | 3 replies
Your situation seems pretty straight forward (no rehab on settlement statement) so the delayed finance is fairly easy and I think most lenders will be comfortable with it.
Mike Maloy
How do you end a lease early when everyone is in agreement?
3 March 2020 | 1 reply
The key component of mine that it states that all tenants(and one leaving) agree that SD stays with the rental and any settlement of SD is between the tenants.
Jack Bobeck
Jacksonville Riverside Flips
16 March 2020 | 11 replies
In the end, she failed to pay her 1099 taxes for 2013, 2014, 2016, 2017 and 2018 and now I get to pay them as part of the divorce settlement.
Andrew Fidler
Lucas County (Toledo) property tax reductions more difficult
5 March 2020 | 2 replies
(Unique in county government and completely opposite of city government Anita is a vocal advocate that she is voted in and serves the public interest over those of her fellow politicians)This year's update was more somber, specifically the appeals process would be less accepting of testimony from owners and more strict on requiring actual settlement statements and photos of property conditions.
Chris Soignier
My First Multifamily Syndication
5 March 2020 | 2 replies
Investment Info:Large multi-family (5+ units) buy & hold investment in White Settlement.
Account Closed
Borrower defaulted - should I accept deed in lieu of foreclosure?
9 March 2020 | 11 replies
If condo beware if the condo assessment that may not be a lien yet but they can lien later.I had taken deed in lieu in Florida but my attorneys prepared a settlement agreement and also has inserted a language into the deed that it will not merge into the title held by my Co; said mortgage shall continue in full force and effect until satisfied by my Co.
Fausto Carosella
Credit/Debit Taxes on 1031 Exchange
6 March 2020 | 4 replies
We always request that they be handled outside of closing to provide a cleaner settlement statement for the 1031.
Paul Bame
VA Refi- Need some advice
11 March 2020 | 9 replies
The questionable fees for me are:Flood Determination FeeTitle fees: Abstract fee Alta 8.1 Alta 9-06 Lenders coverage premium Settlement/escrow fee Survey feeAnd the VA Funding fee seems high, is this a set fee from the VA or is it something that can vary by companies?
Allan C.
Cash out refi conditions on portfolio loan
18 March 2020 | 4 replies
I renegotiated with the seller, who got the insurance check for the hail damage, and agreed to turn the insurance settlement over to us so that we could complete renovations.