All Forum Posts by: Andy Chu

A super priority lien is Defined as a lien that moves ahead of other liens regardless of when the lien was placed on a property. Typically these are reserved for back taxes, sewer, trash. In the state of Nevada, HOA liens take priority over 1st deed of trust, 2nd dot, heloc and etc.

Now what I was staying before is that when owning a foreclosed hoa, it is still subject to the dots but has a right to be paid off in its entirety prior to other loans.

By doing so Does Not block a creditor from taking their property back. The question in play is that we have a state law (Assembly Bill 284) that Makes lenders not want to foreclose and as a result the hoa deed a lot more valuable because the longer someone owns the deed prior to foreclosing (trustee sale) , the more months they have to collect rent money to offset whatever they purchased the hoa at.

All offers have to go on homepath.com, but they have to take that information and input into equator.com. The logic is unreal. Therefore the listing agent still has knowledge of offers submitted.

I can't help to think when I buy ac units on craigslists that they just steal them from my other properties. I feel like I'm paying for my own units.

Selling in a trust and LLC is the preferable way to sell. Remember to have your operating agreement so title knows who has signing authority.

We can all speculate, but the only real reason is to simply ask or have your agent ask.

The reason for agents is that you don't want to diclose too much. "Hey mr/mrs listing agent, I really really want your house and want to pay anything you counter me at." Your agent could ask the same questions without the worry of disclosure.

I like the idea but would take it in a different direction. Contact the lender and ask them to sell the loan to you as in an assignment. The owner is still in the house, you own the loan, and you can modify the loan to the terms that you agree upon aka Principal Reduction.

You have the right concept but the wrong vehicle.

Thats the age old mystery. I've found that they do not follow a formula and that there is very little rhyme or reason to their O/B (opening Bid). I feel like if they have not done any work on the file it will start at Total debt, but to take a discounted amount, is anyones guess.

This is going to be a skewed view because the majority of people here are looking to flip. So they want banks to accept offers at 50% of list price.... Realistically, Fannie Mae's Home Path program may be a good starting point and they have done wonders to rehab their homes to the average home owner.

If banks were to spend the little extra time in making their homes look nice, a lot of us on here would not be able to compete.

These numbers do not work for other locations but its good for a basic comparison. Keep in mind we have long term relationships with our vendors.

8x3 granite slab $200 installed
0.65 per sq ft for paint interior two tone with baseboards and trim
tile install is $1.75 per sq ft (not including tile and thin set)
Carpet is at $11 per sq yd (with 8 lb pad and installed)