Michael Plante
Definition of "AS IS"
As is as of the signing of the acceptance?Or as is as of the closing?Meaning if the property is damaged between acceptance of the offer and the closing. Is the seller responsible?Can they be held responsible to repai...
Zach Chappell
"House jumping" - Working definition?
Hello,My name is Zach Chappell, and I am a 27 year old from Madison, WI. I have casually invested in stocks and such since I graduated college in 2011, and am now ready to take the leap into real estate investment. I ...
Azin Eftekhari
Real Estate Professional Definition
Hi everyone,Can someone kindly explain the phrase underlined below in simpler English? A qualified real estate professional is a taxpayer who owns at least one interest in rental real estate that:
Performs more than ...
Jim Stallings
SS HELP Definitely Different
Hey, I was wondering if anyone could help me with this. It's different to say the least. I'm working this deal with a seller in foreclosure. I've got seller to agree to let us take the mortgages subject-to and give ...
Danielke Graff
Hello from a definite newbie
Hi, I'm Danielle from Louisville,KY and an extremely new to this concept but so eager to learn! I just finished my Pediatric Emergency Fellowship so more free time to learn a new topic. My husband is a relatively new ...
Erin Zenger
BP Landlord forms "guests" definition
We just got the BP landlord forms and I was looking through the lease and noticed that the "Use of Premises" section has a very specific, (yet vague) amount of time for people to be in the house as guests before they ...
Russell Zuck
Private Money: Definition of Terms
I'm probably overthinking this but I'm trained as an engineer so there is precedent for this kind of behavior.I've read a bunch of descriptions of private money lending and I want to make sure I understand the details...
Daniel Mills
Foundation issues a definite no?
Are "major" foundation issues a definite "NO" when looking for a fixer upper? Even if everything else is 'right' (i.e. market is strong, neighborhood is solid, etc...).?.?Is it worth paying a structural engineer to a...
Eli M.
Legal/Official definitions of basement
Dear BP family,
Is there a way I can find out what's considered finished, semi-finished and unfinished basement for appraisal?
What exactly do I need to do, so that appraiser will consider my basement finished or se...
Jason Merchey
The Definition of "Contingency Fund"
What do you all think the definition of a contingency fund is? I am the money partner on a major rehab project - my first. My business partner is an architect and is fairly knowledgeable about the market, which is...