All Forum Posts by: Constancia R.

Would you touch this? Found an off-market 2 bedroom for $75,000 in a market in which hardly anything is under 100K. In great condition, it would sell for about $110. It is rough and would probably need about $25,000 worth of work, including flooring in most rooms, tub and shower liner, siding and roof. I was thinking about offering $50K but the realtor said she wouldn't pay over 40. We are not local but we do have connections there. I'd love to hear your thoughts.

I agree with @Alexander Felice. The tenant will feed you a long sob story. First it's coffee, then lunch, then 20 bucks just to help a poor guy out. Before you know it, they are living in your basement and to get rid of them, you are paying their first month's rent on their new place. It's just like that book "If you give a mouse a cookie." DON'T DO IT!

I think I need to clarify my pondering, @Jay Redding. The owners are wanting to sell the property, but will not budge on price. I was hoping that they might soften a bit, come May. I am going to try, anyway!

Thank you.

@Jay Redding, thank you for the insightful responses.

If I understood correctly, a property that is on the 2018 list has already missed two payments and has until May 10th to pay. Would that mean that if you are interested in purchasing something *before* it goes to a tax sale, the beginning of May would be a good time to approach the owner, or are most banking on getting things together before that year is up?

They have this where I live (currently overseas) and it's terrible . People start to big bigger and bigger houses because they want the rent that is based upon the measurements of the house. Landlords are reluctant to make "luxury" improvements because if they do, they are not automatically compensated for what they put into the house.

That does help. I hadn't thought about an escrow company. 

We have an official US notary available.

Thank you so much!

Hello, all. I have quite a few questions. We are currently living overseas and want to purchase a house in Indiana, as a rental investment. It will be a cash deal that we intend to refinance later. I've never purchased a house without being able to be there for the closing...or look at the house. So far, I have had my (inexperienced) son go look at it--it's not falling down. The Realtor seems trustworthy.

We will have the offer contingent on our approval of inspections. It's a wood-frame house, so we will have insect inspection included.

We'll also included that it must have a clear, marketable title.

I am thinking that we should put something in there that states that we will need to close within a certain time frame, too, since we intend to pay cash and the property is part of an estate--I don't want to end up waiting a year and tied to it, while it sits empty.

1) What is a good target closing date and how would we even word that?

2) From start to finish on a long-distance sale, can I just have them FedEx the docs and sign them with a notary, or is there a better way to handle things?

3) I know to direct the earnest money deposit to the realty company, but what is the best way to handle that?

Thank you. Looking forward to learning from you guys.

Hello, all. I have quite a few questions. We are currently living overseas and want to purchase a house in Indiana, as a rental investment. It will be a cash deal that we intend to refinance later. I've never purchased a house without being able to be there for the closing...or look at the house. So far, I have had my (inexperienced) son go look at it--it's not falling down. The Realtor seems trustworthy. 

We will have the offer contingent on our approval of inspections. It's a wood-frame house, so we will have insect inspection included. 

We'll also included that it must have a clear, marketable title. 

I am thinking that we should put something in there that states that we will need to close within a certain time frame, too, since we intend to pay cash and the property is part of an estate--I don't want to end up waiting a year and tied to it, while it sits empty. 

1) What is a good target closing date and how would we even word that?

2) From start to finish on a long-distance sale, can I just have them FedEx the docs and sign them with a notary, or is there a better way to handle things?

3) I know to direct the earnest money deposit to the realty company, but what is the best way to handle that?

Thank you. Looking forward to learning from you guys.