All Forum Posts by: Dwayne Poster

hey dad, what should we do with our profits....       It's a business of negotiation, be creative.

It stands, unless they have applied to the court for other actions. I would be very careful if redemption isn’t a condition of the sale.

 Are they aware of the change of use?

As mentioned, a claim may be denied if you haven't informed them. Once they become aware, they may request proof of inspection.  

Municipality may or may not be too concerned. Are you renting this space?  That may be an issue if not permitted and a neighbor raises a complaint.  The thing that could bite you is insurance coverage.

somethings cant be fixed.   The road and retaining wall will need to be excavated back, and a curtain wall with french drain installed. 

I have a vacation property in Canada that will see -40 in winter months.  Drain valves are installed in both hot and cold water lines, at the lowest point. At the end of the season I will turn off the main water valve, drain the hot water tank, open all faucets and drain valves to drain pressure side. I will pour RV antifreeze into all drains to fill traps, as well as toilet bowls and tanks. The town manager will shut off the water at the street, then open my main water valve which drains back to street valve. Gas is turned off, as is the main electrical, and the door is locked.  

Home value will come from permitted use. Deviations may add rent income, but will often hurt resale. 

Highly unlikely. You’ll likely find that the Realtors are obligated to ensure any resell profit is assigned to the seller. Otherwise, Realtors would be all over it. Actually, they used to be, and at one time, punitive actions were applied against that activity, more than any other. Laws have arisen to counter that type of activity.

Pronates often require a public notice to creditors. In my area it’s the Gazette. Such notices will list the attorney, whole will forward communications to the Executor.

I check if they have the appropriate business license, and registered as a contractor. I search court dockets for legal actions initiated by or against them. I search permits pulled by them and review inspectors notes regarding directives or variances. The largest contributor in my case though, is conversing with them in regards to the project to see if they respond in a realistic way. It’s hard if you are working with someone new and at a distance, for which I roll a fudge factor back into my overall formula as an insurance policy, which honestly, kills most distant deals.