All Forum Posts by: Andy Chu

Agents are not in the business to determine the habitability of the property. They are in the business of determining like kind properties less repairs. It sounds like they had a bad BPO on the premises. I would start by talking to the listing agent and see if you can send them some bids on what is necessary for repairs on the house. That ways they can justify to their client.

Don't underestimate private institutions and funds. The REO broker world would jump onboard for any client with the possibility of getting 20 listings at a time.

Anyone have issues losing items after being staged?

That's a great idea jeff. I've also had problems with it, I just lived with it.

An FHA loan is a type of loan, which is given by either a bank or a loan company. It is guaranteed by the federal housing administration.

The requirements are similar but the property condition is a lot more stringent than a conventional loan. Also, if the property needs to be rehabbed, there is the FHA 203k.

Call it a small tiny finders fee for josh. If youve gotten one extra deal from bp, it's nice to compensate the creator once in a while :)

Was that the supervisor?

They are by far better than HUD and you can use your own title company , which is huge because all you need to get is a binder.

I haven't received a memo for new tile for properties as of yet. From what I've seen for tile laying, they are closer to 2.5x more expensive than my local market pricing. However, I am just one agent in this sea of REO agents, so I'm sure somewhere out there in the different jurisdications, they may be installing tiles.

Being a listing agent for some of the bigger banks, I can assure you that these are not profit centers. Simple items that would cost the average person $75-100 would cost them closer to $300.

The bigger banks rely in on the listing agents and preservation companies to handle a lot of the rehab. Unfortunately, agents are not general contractors and cannot identify serious deficiencies. So most lenders (Fannie and Freddie, BofA, Chase, Wells, and etc.) just do carpet, paint, appliances, because those are the big things that people see and smell. The caveat to that is if things are leaking then, it will be caught.

If your LLC is from Cali, you should have no problem deeding it AFTER the refinance is complete.