All Forum Posts by: Debra Grumbach

you cannot change the rent in the middle of a lease term. if they are month to month or nearing the expiration of the lease you can simply send them the proper notice. However, if you are going to increase by a large %, you may want to include a personal letter about the fact that you are simply bringing the rents in line with the rest of the market. And be prepared to lose the tenants and have to replace them.

you can verify he owned the property. does he still own the property with his wife and still on the mortgage? or did they sell it? Look for 5 years history of residences. pulling his credit report will also let you know if he made his mortgage payments on time.

 House insurance here is very expensive. The older the house the higher the insurance. You can insure a brand new house for much less than a 20 year old house around here. OP should speak with an insurance broker to harden the homeowners insurance number.

old lease applies. You should review all leases before offering or during "inspection period." You can also ask for the results of the background/credit checks and each tenants payment history. If they are beyond their lease term and have a month to month you can have them given notice prior to closing and/or have them sign a new lease (as well as background checking and running credit) when you become the landlord.

Yes. You should find a buyer's agent and have THEM show you the property. Working with the seller's agent is never wise.

Real estate sales process is slightly different in NH than in MA. I used to sell in both states.

Where in NH are you looking? I may be able to refer you to someone.

If you form an LLC you can use your money and his credit and signature on the loan. The bank may make both of you sign on the loan. More signatures=more people to pursue if you default. Speak with a mortgage broker. At the very least the two of you could co-apply but then both of your incomes and debts will apply.

Advantages would be that current financing can stay in place. No record of sale of the real estate as the LLC is what is being sold.

But yeah, prior liabilities/pending legal action (even that which hasn't been filed yet) will all follow the LLC.

LOL.

I sold for 5 years and always had my picture on my card. It was unique in that my picture was me and my son. I wanted to "market" myself to families and those thinking of having their first child. It worked great! But I remember seeing lots of pictures on cards and meeting the realtors face to face and thinking "this person looks nothing like the picture" or "this picture must be 30 years old!"

If I were to do it again I don't think I would put my picture on my card. I don't know why realtors do this. Is it vanity? Or just "tradition?"

Move on. The owner is not a "seller" at this time. If anything, send them a monthly postcard in case they eventually decide to sell your name will be ingrained in their mind.

Just go right to "block caller" no sense even having them in your contacts or having them able to ring your phone.