Insurance companies may be involved, and may pay a settlement to the lender for the damages, once the two of them agree on an amount.If this was a desirable area with sales going on, I would say the house would end up selling for something near its retail price in good condition, less the cost of the repairs.

Do I just pay them back after settlement?

, she signed some papers to receive a 1/4 acre lot of land as part of her parents divorce settlement - the land was in - a new planned community in Navasota, Texas.She forgot about the place, until about 5 years ago when we were asked to pay back taxes - We complied, paying probably 400% of the value of the property itself in taxes (We were not aware of any alternatives) - since then we have been paying taxes on time.We once went to view the land (there is no house) - safe to say the community never "took off" - there are a few houses enclosed in woodland, with the occasional manhole cover in the middle of the woods.

I especially like the $25 email fee I have seen on some of my Chicago closings.When I have seen that fee, I have paused the closing and told the closer to get that off the HUD or we ain't closing.Here is the key, by LAW you are supposed be able to review the HUD prior to settlement.

Also, should we have the work completed before settlement?

The only requirements he must meet for a fully tax deferred exchange areThe value of the relacment property must equal or exceed the value of the relinquished property.All of the equity in the relinquished property (or all of the exchange proceeds) must be held by a Qualified Intermediary and reinvested in the replacement property.The replacment property must be identified in writing to the Qualified Intermediary within 45 days following the relinquished property settlement.The replacement property must be acquired within 180 days of the relinquished property settlement The equal or greater debt requirement that applies to a direct exchange is not applicable to a delayed exchange because there is no debt relief in a delayed exchange.

Offer him a reasonable amount as a settlement, and he might go for it.Good luck.

We just closed on our house and got the final settlement (we live in California).

note: this is the paragraph I read in wikipedia in their article about double closing: "To simplify the transaction, the middleman may make one settlement statement directly between the purchaser and seller and take his profit as a line item on the settlement statement.

Charles Parrish wrote:Make sure you have a back door clause (subject to and contingent upon third party assignment before settlement) and that you give yourself enough time to re-cycle the property (buyer shall have 60 banking days to settle) and a safty clause (buyer has the right to extend the settlement by 25 banking days if necessary to complete all settlement paper work) and make sure you have the right to remarket the property before settlement ( buyer has the right to remarket property by private treaty or public auction any time before settlement)......and so on.