All Forum Posts by: Idan L.

@Idan L. is your appraisal contingency still in place? If so, you can walk away from this deal and not risk losing your earnest money. The sellers need to wake up in this scenario. Unless they have other competitive offers on the table similar to yours from buyers that are willing to cover the gap, they're wasting their time by having to re-market the property. Furthermore, have you read and looked over the appraisal report? If recently sold comparables were not accounted for in the report then I would challenge the appraisal. I'm unfamiliar with this market but by doing a quick zip code search the area seems pretty affluent so I'm not surprised homes are going for 100k over asking. It all depends on how much you desire the property. Best of luck!

The area is defenitly waking up

it used to be the chepest area in the beach now everything is got bought up leaving this specific neigboorhood at better chsnces to appericiate

Everything about miami beach area is absulutly crazy

With ibflation on the raise and lack of inventory it seems like it woukd not get better ...

0 Votes

Miami, Florida

The apperisals seems to be a problem cross board noe days.

But the turn over breskeven point wpuld be 17 mobths to start building equity.
in miami beach area invebtory is a big issue

miami beach in general is bought up and prices are not expected to tank or anything
Buf i get it

Quote from @Nick Travali:

Yes thats a very bad idea to throw 140k cause it didn’t appraise. You should be able to walk away or renegotiate the purchase price. Even if you put 20k down, IMO, it’ll still be better to walk away than to chase it with another 140k.

0 Votes

Miami, Florida

i am into a purchase agreement in the normandy isles gated golf community 33141 zip code

apperisal came in with a 140k difference which means i will be starting in negative equity i assume,,

the demand for the area seems to be on the raise and the sellers would not reduce the price by mutch

meaning i need to put that 140k in cash to fill the gap is this ia really bad idea ?

1 Vote

Miami, Florida

A house i am about to purchase has few whitr mood spots in attic

Aleo one room out of 5 rooms has no electricity

will that csuse denial of underwriting ?

0 Votes

Miami, Florida

What are rhe consequences of NOTICE OF INTEREST IN REAL PROPERTY due to right of first refusal

i have an affidavit and notice of interest filed with county cleark

the seller of a property i rent for over three years went to month to month

the seller / owner has not communicating with me throughtout these three years and has used his realtor property manager to communicate with me

prior for him putting the place on for sale i been having verbl agreement and many text messages with exclusive realtor in regards on me having right of first refusal which hasent been properly executed,

a buyer placed an offer on the place which i can match i have placed a intrest of sale and a cloud on the title

but wondering what would be the right way to approach all parties involved.

do i even stand aa chance here ?

0 Votes

Miami, Florida

A real estatebdeal for a house i currebtly renting past 3 years now went for sale.

Real estate agent who has exclusive right to sell the property has communkcated with me over text and mentioned nomerous time i have right of refusal wbich i have agreed too

These facts are mentioned over whatapp xoncersations with tbe realtor who has exxlusice rights on the propwrty

now the owner got an offer in cash which i can match with financing

and have signed without letting me execute my right of refusal as mentioned in text by realtor

do i have a legal case here ?

0 Votes

Miami, Florida

I am about to make a deal on a single family house with financing

the house needs a roof tear down ans a new roof

how realistic is it to get jt done in less then 30 days ?

0 Votes

Miami, Florida

Thanka for the replay.

i beleive jist obtain the permits in the beach area takes 2 months

lookkng at labor of abojt month and a half.

defenitly okd piping in here

the reason for the leak is through roof and later faulty toilet

0 Votes

Cape Coral, Florida

Thanks for the input

Assuming you got permits and working crew is this project estimated to take longer then 3 months ?

0 Votes

Cape Coral, Florida

Quote from @Account Closed:

Quote from @Idan L.:

Hi guys i am lookkng to buy a sibgle family home with teo stories

first floor has felling water damage and electrical issue in the kitchen

due to flat roof water damage 2 years a go which hasent been addresses but roof was patched

Second floor had leaking bathroom for over 2 years not treates and noticing the second floor is uneven and on the first floor a huge hall caused bybwater dripping

Second floor one room has no electricity as well

Is this repair could exceed 100k?

Where is the property located?

I wouldn't think you would have to do foundation. Framing probly. Miami is certainly expensive to do anything. Using Miami contractors I would guess 130 to 150k. If this project was near us here, it would probly be 90 to 120k without seeing it. And timing depends on contractor, permits n inspections.we travel for this type of work alot. We specialize in structural repairs.

0 Votes

Cape Coral, Florida

All Forum Posts by: Idan L.

Idan L. has started 9 posts and replied 16 times.

Post: huge dillema apperisal came in low

Post: huge dillema apperisal came in low

Post: huge dillema apperisal came in low

Post: Mold in attic for a house i am buying

Post: Notice of interest in real property

Post: Right of first refusal

Post: Miami beach new roof

Post: Looking to purchase a home with water damage

Post: Looking to purchase a home with water damage

Post: Looking to purchase a home with water damage