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24 April 2024 | 40 replies
I encourage all my clients to form an LLC when they purchase and close under it.
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25 April 2024 | 3 replies
Open escrow with homeowner, end-buyer, and self; self transfers contract to purchase to end-buyer in Title/Escrow, and provides T/E with end-buyer's contract with self: agreement to purchase, and fee instructions for self ($10k + difference if any) to be paid out of closing escrow5.
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24 April 2024 | 36 replies
It amazes me how many times I see REI OK with a property that has negative CF (meaning the cost of that property keeps adding up, and profit never happens), or the payback period to cash recovery hovers close to 20-30 years...then they justify it by saying the property will appreciate over that time period, so that's OK.
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26 April 2024 | 6 replies
Jack up the cracked joist to close the crack and then sister a piece of new lumber along side the section where the crack was. 3.
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26 April 2024 | 4 replies
To protect the purchaser of the wrap-around mortgage, Texas Senate HB 43:provides for wrap payments to be held in a constructive trust by the seller for the benefit of the buyerestablishes that anyone collecting or receiving a payment from a wrap borrower in connection to a wrap mortgage owes a fiduciary duty to the borrower for the paymentsdiscloses the nature and risks of wrap transactions to buyers and offer consumers the right to rescind transaction/agreement when disclosures are not made timelydefines “wrap mortgage loans” as a residential mortgage loan:made to finance the purchase of residential real estate that will continue to be subject to an unreleased lien that attached to the property before the loan was madesecures debt incurred by a person other than the wrap borrower that was not paid off at the time the loan was madeobligates the wrap borrower to the wrap lender for payment of debt, the principal amount of which includes the outstanding balance of the debt and any remaining amount of the purchase price financed by the wrap lenderclarifies that a wrap mortgage loan may only be closed by an attorney or title companyprevents “house flippers” from registering as financial service providersprohibits a person from making wrap mortgage loans unless the person is licensed or registered to originate or make residential mortgage loansThe new law goes into effect on January 1, 2022.
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25 April 2024 | 6 replies
I am in the final phase of closing escrow on a condo in Denver.
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26 April 2024 | 27 replies
Here is an excerpt: Standard of Practice 1-7 When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing.
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23 April 2024 | 10 replies
I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.
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25 April 2024 | 27 replies
You didn't get an instrument survey at closing?
25 April 2024 | 3 replies
If it does, your dad would receive the net equity at closing.