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14 February 2025 | 161 replies
You don't have a home inspection to fall back on.
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19 January 2025 | 51 replies
They try to integrate inspections, and the closing docs on their platform and doesn’t work well.
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3 January 2025 | 4 replies
.- Inspections: Some programs require annual property inspections to ensure compliance with their standards, which can occasionally be demanding.- Damage Risk: As with any tenant, there’s potential for property damage.
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21 February 2025 | 250 replies
Also lost a buyer on a listing I have. they cancelled during inspection because the property needs an easement from the forest service for a driveway.
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5 January 2025 | 33 replies
Didn't get an home inspection because the lender stated they'd take care of the inspections.
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3 January 2025 | 18 replies
They don't want the company to be potentially liable if an owner doesn't follow through with the inspections and repairs.After the GFC, we needed the capital investment or they would have had to tear down more houses than the thousands that they already have.
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12 January 2025 | 28 replies
The report is as good as the answers you provide to their questions.The risk is that you answer a question incorrectly which generates an incorrect report.I would have a discussion with your CPA to determine what the land basis is(required to start the cost segregation).I would also have your home inspection / appraisal on hand to answer the questions more thoroughly.
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7 January 2025 | 7 replies
Try to arrange for an “open house” day for buyers to walk through with contractors and eliminate inspection problems/delays.
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3 January 2025 | 12 replies
Normally, we would say no and wait until the end of the lease but due to the situation and hardships we would inspect for pets and pet damages.
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?