Your lender will most likely require a title search that will uncover any liens.

.- You will most likely have to pay MI (or a higher payment if the lender pays it for you)- Your blended rate will be higher then your previous interest rate (if you have to go with a combo loan).Regards,Scott Miller

These appraisals use a blended approach to value, using primarily the cost approach (reproduction cost to rebuild) and a small portion is the sales approach (recent sales).

I have bought properties that needed roof and sometimes we would need to get on the roof to tell if there was one or two layers of shingles, but we always new how many layers before we started the job.You also said "they looked in the attic and didn't see any need for redecking" It would be blatantly clear from looking in the attic that there was more than one layer of shingles (look at the number of roofing nails sticking through the decking).As for uncovering bad roof decking during the tear off process, sometimes you just don't know until you tear off the shingles, other times its obvious from looking in the attic or walking on the roof.Sounds like this company has taken you for a ride.

Survey Uncovers Patterns and Trends Among Homebuyers

Originally posted by Account Closed: @Will Barnard it was a rehab flipper he was located out of state he sent a contractor over to check out the repairs but the foundation work was 10,000 dollars over my estimate basically the same with the first deal also If additional expenses were uncovered during your due diligence that were not easily identified upon initial walk through, you should have had the opportunity to go back to the seller to renegotiate.

It is not unreasonable that you will still out run interest rate risk since your blended rate on both loans is greater than 6% and less than 12%.

The problem is the amort. schedule and rates to pay off the second are higher and the total rate blends up for the two loans versus neutral or down with a seller held second.

Frankly, nothing is cheap around here unless you uncover the deals which is what I'm starting to attempt to do for several different purposes.Actually, the angle you come from is one I have thought about a lot.

It seems this could be put to good use uncovering properties that would be good candidates to rehab and flip.* I have math and analytical skills.