All Forum Posts by: Jim S

If the 2nd doesn't sign off then what? It will kill the deal?

We recently purchased a home thru a short sale. It's the first short sale we have done. We usually buy REOs.
When we were negotiating we had the most issues with the holder of the 2nd trust. They kept jerking us around asking for more $$. In retrospect, if the home had gone into foreclosure- wouldn't they have lost all of their $$ assuming it was the primary mortgage holder who filed?
How much leverage do the 2nd trust holders have?

We need pictures!

Make sure the basement has a return vent back to a HVAC. It will help circulate the air out of the basement and into the HVAC thus helping to remove humidity.

But before that, put a fan in the basement window blowing out and open up a window upstairs. It will bring in fresh air into the house and help to clear out the basement stale air. Plus if the basement is stanky then the rest of the house will most likely start to smell bad too.

I just had 13 windows installed for $6400. They are nice windows but not upper end. The problem is the house was built in the 50s and have a metal tray around the window.
Lowes sells windows for $150 but installation is where you pay the $$s.

We just received our settlement papers and they are trying to stick us with $3,300 in attorney fees. Has anyone else encountered this charge on a short sale? Or is the bank trying to make some $$?

Cash talks. Make an offer. The more time the property has been on the market (90-120+) the more motivated the bank is.

I don't understand how you can assign blame to anyone except the home owner. Nobody forces any homeowner to purchase a home or to sign any loan document. With your rationale, we should all walk away from our home, auto, student loans, alimony, child support and any other contactual agreements we made just because we don't like their outcome. Nobody ever guaranties that home values will increase.

We have a home that had 5 German Shepherds in it before we bought it. It smelled like dog really bad. We stripped out the carpeting & padding and vacuumed to removed any lose padding and dust. After letting the house air out for a week we washed the subfloors down with bleach. We then took a roller and painted a primer that was made to hide fire damage. It's designed to hold in smells.
It worked and I received a 6 year lease.