All Forum Posts by: Shari Posey

If in Texas I'll give you my experience...I had a house there with pretty significant cracks that developed the first summer we were in the house. We got 3 bids from foundation companies and all were vastly different--from 1 bid for $5k to 30k. (This was years ago.) In the end we never did anything and it never got worse and the house was sold without any problem 20 years later.

In California, I've seen houses with raised foundations sell and resell over and over without problems getting a buyer. Whether or not the problems have been disclosed down the line, I don't know.

Poe wrote--How about properties without NODs? The property I was writing about has no NOD, same as many short sales that close in my area. IMO, negative equity plus one more distress (you pick) is better than NOD. (I don't know how to use quote.)

There are some duplexes in my town that I liked like to buy and I wrote the owners whose property was overgrown, etc. but got no reply. I would say, my letter writing efforts have been disjointed. I have also tried door knocking distressed-looking homes and NODs without results. All my short sales have been referrals. Maybe it's just bad letters. Any ideas? Also, where are you getting your lists?

That rating system is good but I really haven't seen it used.

Just curious for any Las Vegas people out there, where are the B/C areas?? Mostly what I've seen area D areas.

Wade, you might want to split the properties between 2 or 3 PM companies to see how each does...A LOT of them are terrible. Why not tell them that you are doing this and you will give all your business to the company who does the best job at the end of the year.

Steve has a good idea...I just had a client who bought this time last year with and FHA loan be able to refi with no PMI because the market has gone up and he did a little sweat equity on the property--it will save him BIG money each month.

Also, I believe in the debt snowball effect...start with eliminating the smallest balance and work your way up adding those payments to the next highest balance.

Poe Wrote: And where are all the SS agents? The seller would have worked with an agent in a heart beat.

I gave up sending letters for short sale listings earlier this year because of no response from new NODs. I sent a total of 4 letters spaced about a week apart but got no response. I think those owners must just have their heads in the sand or my letters were just not good. I got content ideas from another forum specifically for short sales.

Is there any difference between a solo401k and a self-directed SEP?

Rick--Actually, my ex-husband's nephew is a Sam Posey--about 22 years old or so now.

I found a couple of services. Complete Cash Flow Services is pretty cheap at $18.50 per month and $75 set up fee.

All--
I called the CAR legal hotline and the attorney I spoke with told me my involvement in arranging seller financing is "not a big deal, there's not much to it, no problem with doing this as long as I use the CAR form SFA (Seller Financing Addendum)."

@Rick--I've already done #2 and got all buyer's critical info like credit report, Fannie Mae app, etc.

I'll start looking up some servicing companies.

I just remembered I know of one RE attorney that isn't too expensive--I'll call him to see if he's done this.

@Bill Gulley--Can Washington State do the entire process for my seller? Also, I did a Google search and couldn't find a company called Washington State--can you double check the exact name or provide contact info?

(FYI--my seller does not live in the property; it's an investment property but the buyer will buy owner-occupied.)