Account Closed
IL, License risk working with wholesalers?
31 May 2018 | 2 replies
Only licensed brokers can market a property.would imagine as long as the compensation is on the settlement statement you should be fine.
Tina Thompson
Will an HOA Negotiate?
31 May 2018 | 3 replies
I just got a settlement statement back from the title company on a property we're buying subject to.
Dom Chit
Almost completed buying first MF properties! Now what?!?
3 June 2018 | 6 replies
Shop around for utilities if you are paying for it.Shop around for dumpsters line up the contractors to do all maintenance requests or upgrades you need to do.get ready to Install motion lights outside prepare ownership change letters to tenantscopies of keys copies of all leases (should have got in DD)Ask the lender and title company to provide you with the final Settlement statement so you see which other costs to expect.
Josiah Collins
Keeping some of the proceeds?
1 June 2018 | 2 replies
@Josiah Collins, Costs of the sale can be paid with proceeds but must be on the settlement statement as costs of the sale.
Account Closed
I think I know, but would love some input
2 June 2018 | 7 replies
They can, and will, but you have to get the settlement statements a few days early, so you can get the title co the check, and they have time to verify the check is valid.
Edward R.
Wow; taxes , write offs, expenses are not as easy as you think
2 June 2018 | 3 replies
TaxesInsuranceMortgageLoan acquisition costs (settlement fees etc.)Utilities during rehabMileageRepairsCapital expenditures (detail what it is & cost for each because different life for each)Meals MarketingService / laborOther / misc.
Rob Lehmann
Received Discrimination Complaint! Now what?!
26 February 2018 | 42 replies
You’re going to want to settle at mediation because a court case will cost you more in legal fees than the mediation settlement, even if you are exonerated.
Steve Kresse
Pre-Service Rental Deductions vs Capitalization
18 February 2018 | 1 reply
My question comes in while reading IRS Publication 527 Page 7 there is a section that says "The following are settlement fees and closing costs you can’t include in your basis in the property."
Amahl Miller
Documents needed for LLC in Virginia
19 February 2018 | 4 replies
Originally posted by @Shawn Bowen:... and a local business license for that countyIn four years of doing this in Virginia I have never had to provide a business license to a settlement company or lender.
Carrie Angyal
Seller is trying to back out....Need help!
19 February 2018 | 7 replies
We pointed out that we already offered more than they originally asked for, contract stated they were responsible for providing all utilities through settlement, and they understood they were responsible but weren't going to handle it, but they allowed me to have repairs done before closing and have the contractor paid from their funds from settlement.