All Forum Posts by: Scott Culver

Talk to your hvac contractor about adding a uv-c light in your air handler. 

Odds are you replaced the HVAC system with a more efficient one.  I'd suggest to the tenant the longer they stay the more they'll save in the future.   You're welcome.

I've used David Pomerantz & Assoc, Adelphi, MD for years.   

I have had good experience with Wood Floors plus in Glen Burnie, MD.

It also might be a good idea to ask for copies of lien releases from the contractors doing the repairs. 

Read your contract. 

In our area buyers typically do a walk through on re-sales prior to closing to make sure everything is in working order and in the same condition as it was when the contract was written.  The local contract likely states somewhere in the boiler plate the following items are to be conveyed in working order. etc.

If they are not, the contract will spell out your options.  i.e. Seller will repair, hold an escrow for the repair from the proceeds, or you can elect to waive the item(s), or walk. 

If you have a lender, the golden rule applies... they have the gold they make the rules. 

Good Luck

I use Evernote and Expensify.  I believe there are free trials for both. 

I keep a Notebook for Potential Properties, and move them to their own Notebook when I purchase them. 

For potential properties I can clip information from websites, track auction end dates, as well as opening bids and reserves.

For properties I purchase, I create subfolders:

Documents - for contracts and proposals etc.

Expenses -  copies of receipts

Photos - Before, during and after

To Do list

Completed Tasks

The software is available online, on my desktop and my phone. It is great to be in a store and have a list of items needed, pictures, and measurements on a device I never go anywhere without.

Stick to your numbers.  They really don't negotiate in a traditional back and forth sense, in my experience.  More than likely they'll put it back up for auction with a different (not necessarily lower) opening bid.  As you experienced, even if you win the bid, they'll send a "counter" to you and all the other bidders.

Quoted from their email:

"Even though your bid didn't meet the seller's reserve price, the seller is still offering you a chance to place another bid. However, you must respond to this opportunity before 10:20 PM(EST) on 06/16/2016.

The seller is providing you the opportunity to place your highest and best bid for the property. The details of this proposal are below:"

I personally chuckle at the generosity of the seller, for offering the "opportunity" to over pay.

Save your money.

Articles of Organization are public information.  In my state they're online.  Search a few names and you'll find they all seem to have been written by the same person.  They essentially all contain the same information.  Just find one you like, cut and paste, "correct" the names, mail a check and you're done. 

Also search the net for operating agreements, and you'll find plenty of ideas.

Of course, not legal advise, your mileage may vary...etc. 

@Brad Gibson I can think of a few possible answers to your question, but you may need to provide a little more information to get more useful answers.

Is the unit in the Owner's name his primary residence? 

Did the Owner declare bankruptcy?

Have you researched the title?

How frequently does your County hold tax auctions?

Absolutely talk to the owner of record.  The worst they can say is go away, but do your homework first.

Good Luck,

Scott

PS.  I had a similar Hubzu experience, painfully slow, but worth it in the end.