All Forum Posts by: Caroline Gerardo

This is Arkansas? If title was not in Living Trust they maybe need to go through probate if total value above the basis plus improvements bundled is greater than $100000.

Get all the copies of the recorded deeds on every property. Contact the notary/title company/lender on the transfer deeds for copies of the Trust. Mail to address on deed and S Corp filings all line up? Lookup all the S Corp documents in the state where registered. 

My guess is the S Corp hasn't been kept current...

Get a copy of the Trust/will/ whatever you can.

These problems can cost a fortune. 

DM me reason for cancellation ( is it just State Farm or Farmers with their wacky Moen water valve cancelling you because they can?)

CA Fair Plan is last choice. If you have claims it may be your only choice.

If you think the review is 100% lies do not read it or write a rebuttal. Problem is the rebuttal brings more attention and clicks to the bad words. 

It's like being a novelist and people write a review that they never read the book but don't like the genre (happened to me- better to understand that some people are negative and walk with your head high).

Not knowing what they said take it as an opportunity to fix and improve rather than they were difficult.

Usually a Land Loan is 50% of what exists- and you need a verbal nod from planning that septic, curbs, gutters, utilities, especially water, and the size of what you plan fits the neighborhood or general plan.

A construction loan on land is a different thing. You want to put the two loans together which is the reason why the permit on land you don't own is a hiccup. Hard money lender is not going to give you one lump sum cash to be free to spend. Any construction lender is going to dole out cash as you progress. 

To combine the two into a land purchase and construction loan you need to demonstrate on paper exactly what you plan to build and that the planning desk allows this without a conditional use permit/hearings/delays/neighbor complaints tying you up to wait 24 months to start. Hard money construction loan they do not want to foreclose and finish a project. 

So how do you show them?

List of closed deals, time frame to complete, costs of the deals of the past. Skills, tools, subs, muscle you have to complete fast on paper.

Architectural plans with elevations.

Plat map, drawing where house goes, title report, gas lines, cost breakdowns, temporary power...

Reports of existing utilities.

Notes on conversation with planning desk on time frame.

Combining the two loan types can be done, you need to be a great secretarial story teller on paper.

What is the style of the house? This determines my answer about color. White comes in 10000 shades, trim, floor, exterior, mood, room, available light all are part of paint choices. Try samples in tiny 4 ounce or peel and stick to get an idea how it looks at night, and during the day. Paint brands also vary by color concoction. 

Indianapolis has- farm house/ranch/Victorian/Craftsman/American foursquare to name a few of 80 types. 

Not looking for measurements, two cell phone photos tell the story.

Grey is out of style. Paint color depends on style of house. 

Painting adds no value, it's maintenance. 

If cabinets are in excellent shape, leave them alone.

Accent wall adds no value.

Would need photo and layout of existing bath and proposed bath and total rehab cost to tell you what value it adds, my guess is it adds $5000 in value or less.

Balloon or prepay are NOT available for owner occupied terms. 

Loan amount is probably NOT conventional, jumbo is another set of regulations.

What did you deposit into one bank account past 24 or 12 months? 

Can you survive without the cash out piece even though was your cash?

When is the construction loan due and asking for penalties?

Nominal no value in refinancing. What are the new costs, terms, conditions, years? Ask current lender if they can modify existing HELOC to reduce to prime + 0.

Seller pays per dium ( to the day that you close through settlement). You maybe agreed to pay transfer taxes. Your lender may require tax impounds in advance. Also the tax amount on the tax rolls is not the tax you pay in the future, it is based on the new sale price and will increase according in due time.