Russell Ponce
Can Wholesaling be Illegal?
18 November 2014 | 57 replies
The wholesaler wants no risk and to put the seller in a horrible position and forfeit peanuts in earnest money ( 10,100 bucks etc.).
Zack Kolb
Credit Union says I cant transfer to LLC unless the LLC qualifies?
22 August 2013 | 8 replies
Some have had success forfeiting their foreclosure rights instead of personal backing.If in fact they want the LLC to qualify financially then find another bank to refi if you can because that is not common.
James Smith
rent to own deposit money
16 September 2013 | 14 replies
Not an atty, but it doesn't get applied to the purchase, until purchase...and doesn't get forfeited until buyer fails to exercise.
Belinda Lopez
End Buyer can't perform and now wants their 'non-refundable' earnest money back
26 January 2014 | 16 replies
If he fails to close, and then assigns the sales contract back to me, would his $10k still be forfeit, or would he get his money back and I would be on the hook for the $10k?
Brad McGuirk
Tenant Issues when I put Property up for Sale.
6 November 2012 | 7 replies
My lease says I'm allowed to post signs and show with reasonable notice to prospective buyers, tenants, inspectors, repairmen, appraisers, etc. and that them interfering with this forfeits their deposit.
Matt Schelberg
No Buyers Agreement Prior to Offer...Now Realtor Seeks Admin Fee
29 January 2013 | 18 replies
Because your real estate agent failed to do this, according to GCAAR, they may have forfeited the right to this fee.
Mark Forest
Damage clauses
26 March 2013 | 31 replies
I do not want to wait till they vacate and have to make due with the forfeited deposit.
Brian Bower
Deal Analysis Portland Area triplex
23 February 2014 | 4 replies
Currently MTM.2 dogs currently in 2 of the units :(Operating Income & ExpenseIncomeRENT INCOMERent 24,690.00Prepaid Rent -675.00Total RENT INCOMEOTHER INCOMEDeposit Forfeit 470.90Lease Penalty 285.80Total OTHER INCOMETotal Operating IncomeExpenseDIRECT EXPENSESHouse Cleaning 140.00Roofing / Gutters 225.00Painting 1,600.00General Repairs 282.97Landscaping 1,585.00Management Fee 1,850.00Electricity 9.94Water & Sewer 1,973.91Trash Disposal 1,195.20Total DIRECT EXPENSESTotal Operating ExpenseNOI - Net Operating Income 15,909.68Total Income 24,771.70Total Expense 8,862.02Net IncomeOther ItemsOwner Contribution 1,585.81Payment to Owner -18,170.49Net Other ItemsCash FlowBeginning Cash 975.00Beginning Cash + Cash Flow 300.00Actual Ending Cash 300.00provided by property manager.Thanks in advance!
Jimmy S.
Do you require a deposit when application is submitted?
12 March 2014 | 6 replies
If they back out they forfeit the entire deposit.
Morris Lucas
Buying A Property from Owner in Bankruptcy?
31 July 2017 | 9 replies
I've noticed this scenario with a few other vacant properties i have found.He also mentioned there may be unpaid taxes on the house. i'm wondering if buying it as tax lien may be a way to "force" the bank to take action, as they will either pay the lien or forfeit the property.Thanks!