All Forum Posts by: Account Closed

 Absolutely agree. 

We are under contract for a quadplex which we were purchasing with a conventional loan. The quadplex is one building, with 2 units on each side and each side has its own address. This was legally built in the '80s, but since then the zoning has changed to R2. 

The loan was denied because of the zoning change, with the statement saying that If something happened to the building then the structure could not be rebuilt back to a quad.  I was told that we won't be able to get any institutional loan (now, or in the future) so we would have to do cash or seller financing.   Does this sound right? If so, I am assuming this must be a relatively common issue due to zoning changes. This may kill the deal for us, so I am wondering if anyone has any creative solutions on how to proceed?  This is our first multi family deal.

Hi all,

My husband and I are going to refinance a property we just rehabbed and rented. Wondering if anyone in Central Florida / Orlando area has any good banks to suggest?

We have inquired with a bunch but want the best rate and with so many options out there I’d love to hear which ones people prefer.

@Clayton Singer I agree with Tyler. I live in Windermere and it’s a great place, but my husband and I try to buy rentals elsewhere because the taxes are super high.

@Brian D. Beatty thanks Brian, appreciate the input. The sellers disclosures were requested early on and the sellers agent said there were none (she has now said she forgot she had them - eye roll).

This isn’t the first issue with the sellers agent. In the beginning she had accepted two contracts on the house both of which went into escrow. We were able to come out on top of that situation and move forward. But it’s hard to tell if she’s just really bad at her job, or just unethical.

Long story short...

We just closed on a house and during the initial process the sellers agent told us there were no seller disclosures. The day after we closed on the house the sellers agent sent our real estate agent a document and said, by the way I forgot there ARE sellers disclosures, please sign and return.

The disclosure was that the house was tented for termites two years ago.

Any existing damage is TBD, there will now be a termite inspection but it’s a block house and we didn’t have any old termite damage show up during our regular inspection. My main concern is about the black mark this has left on a future sale of this investment property as we will have to disclosure this to any future buyers.

Wondering if anyone has input on recourse in this situation?

@Joseph Sanchez What area in central FL are you looking at? We just finished up a project that we found off-market. I do browse MLS listings but personally do not have any luck with that route.

@Mark Pedroza No problem, thank you for the insight.

@Darius Ogloza Got it, thanks for the insight. I am going to try to reach out to the sister and at least let her know that the County is looking for the deceased owners family.

@Jaysen Medhurst Sorry, I did not write that clearly. The owner had no "known" family, per the property appraiser and probate division and are waiting for any family members to come forward, if there are any. Anyways, through research I found that there is a sister that lives out of the country. I hope that clears it up a little.