Michael Whitman
Due diligence checklist
13 November 2024 | 9 replies
As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.
Chi Sastry
Sub-To mentorship/education or mastermind options...
12 November 2024 | 11 replies
Once the note is accelerated the seller/buyer either needs to pay off the entire balance within a legally prescribed period of time, renegotiate a satisfactory solution with said lender, or face possible foreclosure filing. 4.
Tyler Speelman
Is less than half (2% of 6%) commission fair for buyers agent?
22 October 2024 | 2 replies
As a seller would you question this and renegotiate a lower percentage of purchase price (3% to listing firm only), or request it is a more even split?
Jamie O'Connell
Section 8 - My Experience Two Years In
7 November 2024 | 45 replies
So far so good, I did one year leases with everyone and then when it ended it just went to month to month but I renegotiated the monthly price with the section 8 rep.
David Taylor
Wholesale or Bust
25 October 2024 | 10 replies
Some of the best ones I know started as flippers or also flip themselves and/or have rentals so they understand the risks to buyers and all the aspects that go into it and aren't just locking up deals and renegotiating sellers.
Edgar Perez
Buying a halfway house / sober living house
30 October 2024 | 28 replies
SO this upcoming July we renegotiate the rent and will be increasing it.
Angel Peng
Not looking to waive inspection but...
22 October 2024 | 4 replies
Yes, you could waive the right to terminate/renegotiate any inspection issues below a certain dollar threshold.2.
Ross Kane
LLC piercing corporate veil
21 October 2024 | 13 replies
If a inspection uncovers something hidden, I would still renegotiate or walk away. 1a) I would never buy a condo as an investment for many reasons.
Mel Smith
Pending sale with lis pendens
17 October 2024 | 3 replies
Once the title search came back, the buyer will not move forward with the closing and keeps wanting to re-negotiate.
Roberto Rohann
Buying a home with unpermitted work (bathrooms etc)
17 October 2024 | 4 replies
At that point, you'll be under contract and could perhaps renegotiate the deal as @Jonathan Greene mentioned.