Originally posted by Account Closed: @Will Barnard it was a rehab flipper he was located out of state he sent a contractor over to check out the repairs but the foundation work was 10,000 dollars over my estimate basically the same with the first deal also If additional expenses were uncovered during your due diligence that were not easily identified upon initial walk through, you should have had the opportunity to go back to the seller to renegotiate.

It depends on whether there are any additional approved family members in the assisted unit.Unless there is, at least, one remaining family member, the Housing Assistance Payments (HAP) Contract terminates automatically on the death of a single-member household, including one with a live-in aide.

This prevents puffing costs by the lender or never performing said services or engaging anyone and taking the money.First is find out if this person holds a license.

Now, in addition to that, they are a very effect estate and tax planning tool.

The tenant(s) pay the additional amount for the down payment while still renting.

The reason for me taking so long with finding a broker is primarily because I got really busy with my regular job...and I wasn't sure I wanted to take on the additional expense of holding a license....I would love to transition to full-time :-)

You have a story to tell and unless there is much more to this story, I can't imagine this preventing you from getting a loan as long as you are ready and willing to put 20%-25% down on the duplex.Your rate will be higher sure, but you can refinance in a few years as your credit continues to improve.Mistakes happen.

@Kevin Seith Tear downs are more costly as mentioned by @John Moore there are usually additional costs for permits and engineering and you can't forget having to comply with all the current zoning rules like setbacks, off street parking, sprinkler systems, fire separation, density, lot coverage, and impervious surfaces.

I assume you can roll paint, so while you have these contractors lined up, as them what the cost would be, see what paint costs along with your materials and consider your time, doing this may save you some money on small things you might do yourself, but you can present the bids and the appraisal to base your offer on.You also need to explain that an appraisal is an estimate, not a true value and that you need to make a reasonable profit if you are in the business and justify your offer.Saying older lady doesn't mean much, if she is elderly I suggest you take some additional steps after you get a contract and that is to involve some center of influence, her kids, her attorney or someone who may advise her.

On 1 I will get 1 additional lot , On the second I will get 5 lots .