What docs do you need from a private lender when a rehab is sold.

I wanted to share it with others just for gp and to also see if anyone knows what it really means.Keep in mind this title report was done because the investor is buying the Note (NPN) not the property.Page 1-31 are normal title docs, 32 starts with a lien from the State of Florida in relation to a criminal charge and the dollar amounts are very low, all together probably 1k.

We also will do toliet seats, blinds, caulk tubs, replace sinks, repair any leaks, and remove bug infestations.

so is 'ready for occupancy' ;)needs about 25k in repairs. 10k of that is a new roof. the other 15k is kitchens needing updating, baseboard heaters in downstairs apt need replacing and damage from leaking roof will need to be rectified in upstairs apartment. the rest is cosmetic work...hey...never hurts to ask!

More issues related to the previous owner's policy 'zero maintenance' have crept up since the property was rented (under the slab plumbing leak that required two expensive plumber bills).

that's still high in my book, but then again, i am used to dirt cheap prices.btw, unless you are paying cash, more likely no bank will give you a loan. i was denied a loan because of a repaired crack in the basement. no leaks, nothing. they wont give you a loan if the hardwood has buckled due to moisture.

We were putting together the docs and right before submitting, we received an email saying the seller turned down our offer.

Apparently the sewage pipes and things had been replaced nine years ago by the owner right before he died and three years ago the water pipes had a leak from calcium buildup and were replaced.

Its working fine now (they tell me, haven't been back.)Tenant says sink is leaking.

This "experience" is one reason stores like Starbucks have people shelling out $5 a cup for lousy coffee and milk - you simply cannot beat the casual, yet classy, atmosphere of their lounge-type stores, with the easy-listening jazz playing over the speakers, your poets and would-be screenwriters banging out their next masterpiece on their laptop computers, and Realtors or notaries in the corner signing offers and loan docs.