All Forum Posts by: Howard Klahr

 Yes, the $24k was basically non-refundable when the loan application was submitted.  That is how commercial loans are done.  Deposits for third-party reports are just that.  Reports are ordered early in the process in order to reduce the processing time to approve the loan.

The real question is what was the issue in the credit report that caused the denial, when did it occur (it nay have even occurred during the application process), was/should it have been known prior to the application and could this have been mitigated?

I know that you did not list your prospective tenant's name or other specific identifying info, but you might be disclosing a bit too much detail on an open public forum.  

I agree with your opinion (good rate/high fee).  Also depending on how long you have owned the property, there might have been an opportunity for a slight discount on the title policy if you went to the same title company for a re-issue.

Does the rent in that market area typically include the cost of water as part of the rental rate?  If so, figure out a typical average water bill amount divide by three and note in your lease that the rent includes water up to that amount.  Any excess above the amount will be billed accordingly

If not, then just bill a prorated amount monthly in addition to the rent.

If your property is a detached single family residence, why does your tenant not pay the water bill directly?

This seems to be a good starting point

World Bank - Bank Regulation and Supervision Survey

As a residential agent are you a Realtor member?  If so, you might want to look into Article 11 of the Code of Ethics

A) now you know why you need to obtain tenant estoppel letters

b) what does your purchase contract state about this issue during the escrow period?

c) What are you looking to achieve from the seller at this point?

Here is some information that will be of assistance

Start A Camp - How ACA Can Help

the type of policy you're looking for is known as a builders risk policy