All Forum Posts by: Dan NA

Hi all,

I was wondering if anyone on the boards had any companies that they would recommend for property management in the Rochester NY area? :D

thanks for the feedback! Well we extended to closing another 2 weeks today. Unfortunate side effect for us is that we had to shell out an extra 200 bucks to keep the rate lock. I am a bit skeptical about closing and then having in there as tenants. I know laws in NJ are very anti-land owners and eviction is costly and expensive from what I have been told. I will keep everyone posted. :beer:

Hi all,

We have been locked up in a short sale for a 2 family house for a few months. Everything finally seemed to have gone through but now the tenants say they can' move out on the closing date because the apartment they had lined up was rented out. If we don't close this week we lose are rate lock on the mortgage. I wanted to see if anyone had any advice on this sort of situation. Our lawyer says we can rent the apartment for 2 more weeks and or worse case the full month and have them pay us rent. But since we are in NJ and renters rights are very good here I am left wondering suppose they really are just stalling and want to lock us up with having to evict them by force. We would be out a few months rent which would be very bad for us.

Hi all,

Currently we are looking at a house that is up for short sale in NJ. The original loan amount was 405k and the listing price for the house now is 340k. I went this weekend to look at the house and it needs work. Things ranging from foundation cracks, water damage on front porch, broken plaster walls, door frames etc. Honestly, we are thinking of submitting an offer around 300k.

I have been reading up on the forums that short sales can be a massive pain in the tail because the bank has to approve etc. Our agent said that he thinks the bank would consider something like 320k or even 300k. Are the banks aware of the condition of the properties up for short sale? For example, have they sent out an appraiser to see all the work that needs to be done. Personally I would have never purchased the house for 405k back in 2005 (its peak price) just because of the sheer amount of work that needs to be done so I can't quite understand how the house could have even sold for that much.